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

aminer in 1921 and was assigned tc
the Minneapolis Federal Reserve dis
trict. From there he was transferred
to the San Francisco Federal district
from which he is now being transferred
here.
He succeeds Ralph w. Byers, CHIEF
examiner for the fifth district, whose
death occurred very recently.
Washington Exchange Quiet.
Either the heat, the drought, the
usual Summer lull or some other factor
hit the Washington Stock Exchange
today and made trading the dullest II
has been this year
There we're but six transactions, which
we're divided equally between the STOCK
and bond divisions.
Potomac Electric Power Sig per cent
preferred changed hands at 100 and
National Mortgage g. Investment pre-
ferred came out at SIS. In the bond
division there was q $1,000 transfer
103 and a small sale in Chesapeake q
Potomac Telephone Of Virginia IS at
100
The unlisted securities were called
off. as is customary on Friday, and very
few changes noted.
c. E. Howe Takes Vacation.
CnaIleS =. HOWE bISdSulCI VI 0AA~
American Security g. Trust Co., is en-
koving his annual vacation and spend
ing most of the time at his old home in
Mifflintown, Pa, the same place where
President John B. Larner of the WASH
ington Loan & Trust Co. has Summer
home Mr. Howe, who will be away DUR
ing much of August, holds an unusual
record among local bankers OF having
served the same institution for some sc
Nf
about 19 years.
Mr.. Howe began his banking career in
the town which he is now visiting. He
started as a general bank messenger
The duties of a country bank messenger
in those days included looking after
the fire in Winter, actiIg as paying
teller, bookkeeper, note teller and some.
times filling in as cashier, both varied
and valuable experience. 1t may De
mentioned in passing that he started in
the banking field under the guidance OF
E P. Parker, who afterward became
prominent Washington f1nancier.
During the 80 years that the late
Charles J. Bell was president of the
American Security g. Trust Co., MI
Howe was one of his most active assist
ants. Last year he was chairman OF
the Safe Deposit Section OF the District
Bankers Association, having a great
deal to do with getting the new division
on solid footing. He holds a law de-
gree from George Washington Univer-
sity is a 32d degree Mason, member
of the University Club and of the Chevy
Chase Club.
Trade Recovery Slow Process.
The Guaranty Trust Co. says in its
current review and outlook:
Trade recovery is a gradual and 1r-
regular process, with some industries
reporting swift progress, while others
remain in a depressed condition for a
much longer period.
Business in the future will not be
stimulated by the urgent need for post
war rehabilitation that has been such
O powerful influence in the last decade.
Although there has been improve
ment in some directions, the tenor OF
recent reports is by no means unani-
mously favorable.
Gold has not moved in sufficient
volume to exert any appreciate effect
on credit conditions, although a few
substantial shipments have been made
from this country recently.
1T is believed that the limitations
imposed by the London naval treaty
will promote international good will
and result in huge savings to the tax
payers of all countries concerned"
NO DlsmISSaIS; same ray.
Accompanying a bonus just given to
each of the employees of Bankers Trust
Co. of Philadelphia was a personal let
ter from Samuel H. Barker, president,
which read as follows:
Some of you, new in this business
organization, have never before re-
ceived the kind of check which am
happy to hand you today. would
like you all to find in it the very much
more than merely the dollars and
cents its carries to you. 1t Is a mes
sage of good will, an expression of re-
gard, a recognition, an appreciation, a
token of the kindly feeling, the helpful
spirit which more than ever inspires US.
This company, for which 1922 of us
are now working, does some things diff
ferently from usual practice, and I be-
lieve better. You know that on all
sides many are being laid of, more are
working part time and a great number
see their pay reduced. Your salaries
are going along with your work. There
will be more, never less work in Bank
ers Trust Co while we continue to de-
Telop its business and expand its &C
tiyities."
Better Earnings by 104 Concerns.
Additional earnings statements re-
Gently made public have amplifled the
aggregate income decline witnessed dur
ing the first half year, says the Stand
ard Statistics Co. in a recent bulletin
which continues:
Combining the 289 statements now
at hand, total earnings show a decrease
of "a per cent from the comparable 1923
aggregate. as compared with the 20 per
cent decline covering 134 companies)
reported earlier. In the face OF this
less favorable showing however, a SUBJ
stantial number Of concerns are still
reporting gains over a year ago, the
total OF such individual increases now
amounting to l04.
Comparison Of present year earnings
with 1923 still leaves much to be desired
from the standpoint of current returns
Aggregate decline of the 2l3 companies
for which comparable statements are
obtainsble amounted to 81 per cent
while further publication of first
halt statements will probably result In
a still greater aggregate widening OF
profits decline, it is now apparent that
industry in general during the initia
six months of the current year earned
some 20 per cent to rs per cent as
much as experienced in the highly
profitable first-half of 1929 and almost
o5 per cent of the total witnessed In
the like 1928 period.
Warner Bros Pictures, Inc, failed Il
declare a dividend on the common stool
yesterday, at a full meeting of th'
board of directors which declared TIT
regular quarterly dividend of SIS cent
per share on preferred.
July automobile output in Unitet
States and Canada estimated at 275 ,29'
cars and trucks by National Automobile
Chamber of Commerce, as agains
production of 35o,5 in June and 5l6,
sol in July, 1929; seven months, 2,60o,
E29, against S,s3l,Io5.