Evening star., 1930-12-15
SCOPE OF CAPITAL
BANK IS EXTENDED
Limited Trust Powers Grant.
,ed D. c. Institution by
Treasury Department.
BY EDWARD C. STONE.

Department today that the National
Capital Bank of this city has beer
granted limited trust powers.
This bank, located at BIG Pennsyl-
Vania avenue southeast, is one of the
older national banks in the city, H H
Mckee being the president. On the
. last call the institution had $1,716, 1914
In deposits. On June l, 1880, total
resources amounted to $2,328,155.
The book value of National Capital
Bank stock is $254.08. Directors include
Charles A. Garry, Allan E. Clark, Clar-
ence F. Donohoe, John B. Earnshaw,
: Lewis Flemer, w. P. G. Hazen, August
@. Hermann, Walter Leaman, Walter
H. NARROW, H. H. Mckee, James l..
Parsons, w. L. Simpson, Charles B.
Stuart, S. H. Walker and John G. Yost.
Mr.. Mckee, the president, has been a
leader in the American Bankers AsSo-
citation for years and also very active in
the District Bankers Association. He
is at present chairman of the Washing
ton Clearing House Association.
S6,OOO,OOO Bond Issue offered.
Public offering of a new issue of
$6,000,000 first mortgage and refunding
20-year per cent gold bonds, series
B, of the Virginia Public Service Co.,
part of the Middle West Utilities Sys-
tenn, is being made today by a banking
group headed by E. H. Rollins & Sons
and including Halsey, Stuart SC Co.,
4 Inc; Hill, Joiner & Co., Inc; H. NJ.
= Byllesby & Co.; Blyth 6Z Co., Inc; A.
B. Leach 81 Co.. Inc, and Eastman,
Dillon & Co. The bonds are dated
December l, 1880, mature December l,
1850, and are priced at 80 and interest
to yield 5.85 per cent
The company supplies electric light
and power in 241 communities in Vir-
rfv,iu xrri4h fnto1 TNOr1I1atinY1 nf
245, 900. Gas business is done in 8
and ice business in 20 communities,
including Newport News and adjacent
towns. Street railways are operated in
Newport News and through subsidiary
in Charlottesville.
More Booms and Breaks Seen.
r. w. McNeel, Boston economist
and former newspaper man, has writ
ten a fascinating little book entitled
''Sick in Bed With Common Stocks"
in which he states very plainly that
the days of business cycles are not
over and wilder markets may be ex-
pected in the future along with the
resultant more serious breaks. One
reason for this prediction is the fact
that people everywhere do pretty much
the same things. In Maine and Texas,
New York and California they ride in
the same automobiles, go to the same
movies and earn their living in pretty
much the same way.
People act as a unit In the stock
market when a break comes most every
body sells at the same time. AS time
has gone on, all parts of the United
States have been more closely con-
nected by wire with Wall Street. This
makes selling possible or buying pos
sible on a scale never before known.
That is why Mr.. McNeel believes that
when the market turns it will go higher
than ever before and when stocks get
topheavy tthey will drop faster and
farther than they have yet.
When a nation of investors meets
, disaster in the market. either the
principles behind the program are
wrong, or those trying to apply them
lack the knowledge, ability of stamina
to apply them correctly, he asserts. In
his new book he infers that the prin-
ciples are sound, but the trouble is
with the wouldbe investor. His views
furnish a good tonic for those thou
sands of investors who bought stocks
before the crash and are still waiting
for a comeback.
Firm Opens ROsslyn Office.
The American Small Lean Co. opened
an Office in the Arlington Trust Build
ing in Rosslyn, Va, today. The COM
pany plans TO serve the people living
on the Virginia end of Key Bridge, as
well as Washington and surrounding
towns, the new offices furnishing ample
business facilities.
The company is a wholly owned sub
sidiary of Domestic Finance Corpora
ton, with headquarters at Chicago.
Through its subsidiaries, the parent
company now operates total Of Al Of
fees located in eight States. The Ross
lyn Office is the third office operating in
! the Washington territory. American
Small Lean Co. at Alexandria, Va, and
First Industrial Bankers at Mount
Rainier, Md, are also subsidiaries Of
Domestic Finance Corporation.
Personnel Of the Rosslyn Office in
cludes NJ. w. Bales OF Alexandria, Va,
manager; c. Grant Tall of Alexandria,
Va, assistant manager, and Mrs. Mabel
Davis Of Ballston, Va, cashier.
Opens Office in Washington.
The Allied Van Line has opened an
Office in Washington at 1910 Vermont
avenue, with Walter Hall as repre-
sentative. The members of the organi-
zation in this city are the Security
Storage Co., United States Storage Co.,
Guaranty Storage Co. and Smiths
Transfer & Storage Co. This company
did a large business last year in long
distance furniture moving and is open
ing new Offices in all parts Of the coun-
try in connection with an expansion
program.
Local Stocks Sell Lower.
Local securities were off fractionally
in today's trading on the Washington
Stock Exchange. On one l0-Share sale
Capital Traction sold ex-dividend at
A.. Mergenthaler moved at 81, Peoples
Drug sold at 90, 98l4 and 80, and Po-
tomac Electric Power 5 y per cent pre-
ferred changed hands at 107i2
Washington Railway 81 Electric pre-
ferred figured in five 10-share-lot sales
at 97i2 Bonds were quiet. There was
$4,000 sale in National Press Club S IS
at So, the first transfer since this issue
was added to the securities in the un-
listed department.
Calls Conditions Unchanged.
The Credit Monthly, representing the
National Association of Credit Men,
finds December trade practically the
same as in November. OF 100 cities
sonly reported brisk sales and none
reported good collections. Sixty-seven
other cities reported sales as fair" and
so characterized sales as SLOW"
other Financial Notes.
E. D. Bellknap, vice president Of the
Wallpaper Association of the United
States. will speak on "Art Of the Ages
In Wallpaper" over the Columbia Broad
casting System Saturday night.
NJ j. Meehan e. Co., which maintains
an Office in the Washington Hotel, has
opened two branch offices in Florida
\ one at Palm Beach and the other at
Miami Beach.
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