Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-17

wait.
Washington investors ere CARRYING
considerable amounts of Irving Trust
Co. shares acquired during the spectacu-
lar movement in New York bank and
trust company stocks during the period
when the Wall Street market was at its
best. 1t was expected at the time that
the Irving, one of the strong, we'll
thought-of institutions, would be a
juicy morsel for one of the other larger
institutions or that 1t might do some
swallowing itself, and the shares conse-
quently advanced sharply. Indeed, they
did make good advances, but few re-
allied before the price hit the toboggan
and in the deluge dropped back from
the COS to $50 a share.
This year the shares advanced to SIC
again, and again turned the other way
to below $50, the latest quotation being
4934 bid and 5134 asked.
Bankers familiar with the situation
express the belief that it will be the
part of wisdom for those having the
shares to hold on to them for ultimate
liquidation without loss, If not actual
realization of good profits.
Washington Securities.
Investors who have confined then
operations to the local security market
have Jared much better than those who
traded elsewhere. OF course, this mar
ket has been narrow, limited at al
times, even when at its greatest activity
nor would it have been possible to have
disposed of any large lot of stock OF
bonds in troubleous times without hav-
ing to make serious concessions.
Traders here have lost heavily In one
old favorite investment stock that fol
years sold many points above par-i. e.
Capital Traction, but the reason is
plain - automobiles and cheap takes
offsetting increased fares.
Columbia Graphophone gave those
who we're trading in it even worse
treatment for the shares of this cor
poration without bonds slumped to the
cipher stage and nothing was ever done
about 1T.
Aside from these two and perhaps
two or three bank failures or practical
suspensions although they may have
been settled without loss to depositors
yet wiped out stock, constitute the seri-
Gus events in a % years record on the
local exchange.
Some Plants Running.
Some manufacturers have learned
the lesson that all retailers know, the
fact that there is market for every
thing at price. Retailers have demon.
strated this fact again and again wher
they decide to clear their shelves Of
slow-moving goods, cutting prices tt
the point where profit is slim when il
is necessary to get rid of the mer.
chandise that room may be obtained
for new stocks.
Manufacturers who shut down theil
great plants IN times of depression have
found it expensive, for a plant In
operation does not deteriorate with any.
thing like the same speed as one com
pletely shuts down; all charges bui
labor, etc, go on just the same, the
cost OF shutting down and preparing toi
reopening when the time comes are
sufficient to warrant the operation Of
the plant on a reduced scale ever
without much profit, while it will bt
available for filling rush orders that
will command full prices.
Proceedings of Convention.
Proceedings OF the twelfth annual
convention of the District of Columbia
Bankers Association have just beer
issued in cloth from the Roberts Press
This is the earliest that the annua
record has been published, a little more
than so days after the close Of the
sessions.
Papers and discussions at the con-
vention were declared to be OF IN
estimable value by veteran bankers ir
attendance on the convention.
| Resolutions on the deaths OF G. j
Bell, DR.. harrington, w. T. Gallihel
and S. w. Stone pay striking tribute
to the memory of each of these bankers
Of other days.