Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-18
Washingtonian Is Head of Or.
ganization Comprising IS
Trading Agencies.
BROKERAGE PROBLEMS
WILL BE THRESHED OUT
Burton Named Vice President Of
Mechanics Bank-New
Stock Listed.
BY EDWARD C. STONE.

open the fourth annual convention OF
the Associated Stock Exchanges, OF
which Eugene e. Thompson Of this
city is president, tomorrow forenoon
ut Minneapolis.
Methods of stock exchange trading
more information for the public, in
vestment trusts, advantages of list
ing securities and exchange bust.
ness will be among the important topics
up for discussion. Loans and call
money markets and the guarantee OF
signatures will also draw their share
Of attention.
President George T. Piper, IT., Of the
Minneapolis-St. Paul Exchange, will
greet the delegates and Mr.. Thompson
will then make his address as head OF
the associated exchanges. The first
reports presented will relate to methods
Of stock exchange trading, made by
Claude r. Pugh; followed by the report
Of the committee on revision Of con-
stitution and bylaws, by william M
Laudermann, and the report on inter-
exchange business, by Chairman e. B.
Glenny.
Another address at the morning ses-
sion will be delivered by High A. O'Don-
nell, assistant business manager Of the
New York Times, on Letting the Public
Know" This will be followed. by a
talk on Investment Trusts" by Ray
Vance, author Of Investment Policies
That Pay"
Highlights on Second Day.
Highlights at Tuesdays session in
clude a report on taxation and legisla-
ton by Eugene Ballard, and on mem
bership by c. F. Pugh. Guarantee of
Signatures to Stock and Bond Assign
ments" will be discussed by Francis T.
Christy of New York, author of 1.-THE
Transfer Of Stock"
Thomas T. Hoyne, financial editor of
~ Herald-E Examiner, Chicago, IS to
speak on Financial Evolution" Com
mittee reports on public relations, list
ing procedure and fraud investigation
viii. be considered and addresses on
Publicity for stock Exchanges" and
Financial Statements Interpreted for
the Public" viii end the session.
=. r.. Jones Of the Western Union
viii talk in the afternoon on 'Stocb
Exchange Tickers." An open forum
discussion on five Of the subjects pre-.
vtously mentioned will follow. Late In
the afternoon the election of officers
is due.
The present members of the associa-
Sion are the exchanges ct Baltimore
bus, Detroit, Hartford, Los Angeles
Minneapolis, st. Paul, New Orleans
Philadelphia, Pittsburgh, Portland
Greg; st. Louis and washington.
The Washington Stock Exchange was
one Of first to Join the association. The
association has accomplished q great
deal In bringing about more rigid list
ing rules aimed for the better protec-
ton Of the public. About 200 delegates
are expected at this weeks convention.
Burton Elected Bank Official.
Clarence r. Burton has been elected
vice president and cashier Of the Wash
tngton Mechanics Savings Bank and
will assume his duties on June / at the
banks new ONCE Just being completed
at 340l Connecticut avenue.
The new official resides in Chevy
Chase, Md, was born in Washington in
1885, graduated from Central High
School and from the George Washing
ton University Law School In 1907, re-
He Is q member Of the bar Of the Dis
trict Of Columbia and of the Supreme
Court Of the United States.
Mr.. Burton Is also public account
ant. He has been on the board Of the
Washington Mechanics Savings Bank
for the past year and has been delegated
to represent the institution at the COM
ing convention Of the District Bankers
Association at Asheville, N. C.
Incidentally, he IS a member of the
Columbia Country Club and the Racquet
Club.
New Bank Stock ID Listed.
The board OF governors Of the Wash.
angton Stock Exchange has listed, 70,
trading beginning tomorrow, 10000
shares, $40 par value, Of the $500 ,00(
capital stock Of the Prince George.
Bank & Trust Co. The bank is located
In Hyattsville, Md, and Is O combina.
ton Of two financial institutions which
were recently brought together. j. Enos
Ray is president.
This is the first listing on the loca,
exchange since the Norfolk & Wash.
tngton Steamboat rights were placed or
the board about two weeks ago.
one out-of-town bank stock ALREADY
listed on the Washington Exchange
tne stock OF the Bank Of Bethesda.
c. v. Maudlin Elected Director.
At meeting Of the directors of thu
Investment Corporation Of North Amer.
1ca held last evening in the Union Trus,
Building G. v. Maudlin was elected :
director to I'LL the vacancy caused b,
tne resignation Of George A. Garrett
resident partner Of r. B. Keech 81 Co
A. mdooiul ID d director and manager
OF the Bureau Of Applied Economics' 4
pr1vate, independent, scientific orpani.
cation doing research and analvtica
WORK In the field Of industrial and com.
mercial banking. ''e'>' WA
Ine investment Corporation Is one
Of the more successful investment trust,
ana Is managed largely by Washington
men. William M. Jardine. former sec.
rotary OF Agriculture, is Chairman o.
the board, and other directors include
Role E. Boiling, president of the Mer.
chants Bank g. Trust Co.: William J
Lauck, consulting economist, and ROLAND
G. Ringgold Of Sharp q Dohme, Balti.
more.
Heard In Financial District.
Washington bank clearings amounted
TO $25, 934 900 during the past week
against $29,273, 900 the previous weel
and - per cent below the figures TO
the corresponding week last year.
New York reports that raw suga,
prices for future delivery made an all
time new low during the week, tn,
lowest mark in 70 years, or the periot
a. far back as the records 60.
More than $26, 500 900 900 Is now In
vested in the public utility business II
this country, exclusive of steam rail
roads, by more than 3.000,000 investors
according to the annual public utilit
survey made by Bonbright g. Co., Inc
This fiKure represents an increase o