Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-17
PRICES HOLD FIRM
ION D. C. EXCHANGE
Land Bank $40, GOO, 900 Is.
sue on Market-Notes in
Financial District.
BY EDWARD c. STONE.

BY EDWARD C. STONE.
The wheels of finance moved rather
slowly when trading was resumed on
the Washington Stock Exchange today
The largest stock turnover was In
Mergenthaler Linotype. which figured
In sales totalling "a shares at 1875. The
annual meeting of the stockholders OF
the Mergenthaler Linotype Co. takes
place In New York later this week and
the annual report is expected to show
that the concern has enjoyed good
year In spite of business conditions.
On the exchange today IS shares OF
Barber 81 Ross common changed hands
ct 1874. In the bond division the
largest trading was in Washington Rail
way & Electric As, bonds In $4,000 and
$1,000 denominations selling at 1874.
Washington Gas IS, series A, came out
at 1924 and the series B bonds solo
ct los.
The market closed today with 4s7s
bid for Capital Traction and 5014 asked
No sales were recorded. The only Is
sues now being quoted ex-dividend on
the exchange are Washington Railway
q Electric common and Railway q
Electric preferred.
President George o. Watson plunged
into the big task this forenoon OF pre-
pairing his annual report. Other ON
cials are doing the same. In the past
some of these reports have been noted
for their breyity.
A. b. A. Secures New Quarters.
The American Bankers Association
has engaged space for its new head
quarters In the ONCE building now being
erected at % East Fortieth street, south
east corner of Madison avenue, New
York City, 1t Is announced today by
y. w. Shepherd, executive manager OF
the association.
The closing of this lease recalls the
vigorous efforts made to bring about the
removal Of the associations headquar-
tiers to washington as proposed at It's
executive council meeting in the Spring
at Old Point Comfort, Va, but rejected
after prolonged discussion. The decision
was reached to keep the headquarters
In New York and Removal Committee
was appointed to find more commodious
Accommodations. The committee de-
cided that the Grand Central zone pre-
sented the most suitable locations.
The Removal Committee consisted OF
Rome G. Stephenson, president, Ameri-
can Bankers Association, chairman;
former President John @. Lonsdale,
former President John H. Pueiicher,
Dan v. SteHhens, president Stephens
National Bank, Fremont, Nebr., former
president of the associations State bank
division, and Mr.. Shepherd.
Land Bank Bonds on Market.
Offering of $40, 000, 900 Federal Land
Bank 4l2q5 bonds, due 1888, Is being
made at par by q countrywide group
composed of the IL Federal Land Banks,
investment houses, institutions and up
ward of 1000 dealers. The banking
Il. AaA l4ww Inx r.
Sons, Harris. Forbes Co., Brown Broth
ers & Co., Lee, Higginson g. Co., Ma
tional City Co. and Guaranty, Co. The
bonds are redeemable after December
/, 1852, at par.
In Is years of operation, the IL Fed
eral Land Banks have been built up
until on September 30, their capital was
e65,ss5.227; legal reserves, $1S,2sl, 234;
undivided profits, $4,208,5l6 and total
United States Government in the capi-
tai stock of the Federal Land Banks
have been reduced from $4,000, 900 at
the time of the Inauguration of the
system to about $685., 900 as of Septem-
her 40
biggest Banks Deposits Up.
An increase Of S236,5OO 900 in the
deposits of the 10 largest banks in the
world has been reported for the period
between December 81, 1929, and Sep
TENDER "a, 1880, according to the Amer
lean Banker. Total deposits In these
banks on the latter date were $13,866,
OS2,00O.
Of the total deposits, the Chase Ma
tional Bank Is in first place, with
81 So, 295, 900, and fve large British
0eT,O0o. The National City Bank Of
New York is In nth place, with deposits
aggregating 81 .343 ,942 900. Four Armeri-
can banks have total deposits Of 1885,
$4,000. The Royal Bank of Canada
had. as Of September 80, deposits to-
falling $706, 7Sl 900, in tenth place.
The American Banker said the
newly consolidated Bank of America
formed through q merger Of the Bank
Of America of California and the Bank
Of Italy. would undoubtedly occupy Q
place In the first 10, but no figures FOL
the institution were available.
Heard in Financial District.
q. Elmer Father, assistant treasurer
Of the Union Trust Co., Is recovering
rapidly from . recent severe illness. He
- back 1t his desk
Harry w. Finney Of Y. E. Booker q
Co. Is back at his desk after a hunting
trip to The Orchards, Va. He admits
that he brought back more apples thar
rabbits.
J. W. Dunegan, president of the First
National Bank of Stevens Point, Wis.
brother-in-law Of Thomas w. Brahany
Of Crane, Paris q Co, was visiting In
the financial district today. He reports
business In his locality as excellent
Members of the Washington Stock
Exchange have received notices from
the secretary. G. j. Gockeler, calling
attention TO the annual meeting which
takes place next Wednesday noon after
the regular trading session The meet
ing IL for the election Of officers anc
any other business that may come up.
The new annex OF the American Sc
eurity a. Trust Co. Is making daily sub
Gtantial progress The weather so fal
this Fan has been particularly favorable
for all building operations. Work on
the new building attracts great dea
Of attention In the banking district
According TO report received by Mer.
rill, Lynch q Co, 40 chain store COM
panies reporting their results for the
first 10 months OF 1890, show aggre-
gate sales of 33,2l2,513,877, againsl
sales Of S3.2oe, 264 $50 In the CORE.
spending period Of 1929, an increase o.
OIL Der cent.