Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-25


normal conditions DR.. Moulton is Q
speaker who has an abundance OF f1g-
ures at hand to back up his claims, and
he made ample use Of them in his talk
today.
The club was fortunate in obtaining
him as the opening speaker for the
year. He Is the author of many books
on financial and economic subjects
among them being Financial Organi-
cations , of Society "Germanys Ca,
Problem" and ''world war Debt Settle
ments."
Sidney T. Thomas, president Of the
bond club introduced the speaker to
the large number of regular and asso-
ciate members present. The luncheon
meeting started the year of most au-
spiciously.
Present Exchange Governors.
The terms Of two members of the
board Of governors Of the Washing
ton Stock Exchange expire each year
Following the annual election the board
Is now composed of G. c. Glover, Jr.;
son, c. J. Gockeler, James M. john
ston and Edward L. Hillyer The pres
ident Of the exchange, George o. Wal
son, Is also q member ex-of1cio.
The annual meeting was made not
able by the comprehensive report pre-
sented by the head Of the exchange. 1t
was the first report of the kind which
has been made in several years and In a
way establishes a precedent, which
must be continued in the future. The
late Albion K. Paris delighted in keep
ing up the exchange history. Since his
death the most accurate record OF the
exchange is likely to be the presidents
annual report Realizing this fact, Mr..
Watson made his report as complete as
possible, very valuable for future ref
erence.
It covered the new listings, changes in
memberships, prices paid for the seats,
the amount of trading In the bond and
stock divisions, by groups, and host
Of other pertinent facts.
Southern Building Sale on.
Peter A. Drury, president Of the
Southern Building Investment Co., a.
noted elsewhere In today's Star, an
nounced this forenoon that satisfactory
arrangements had been reached with
the holders of the notes, so that the
Southern Building, one OF the largest
Office buildings In Washington, viii not
be sold
Some years ago, while president of
the Merchants Bank & Trust Co., Mr..
Drury purchased the Southern Building.
The deal had nothing to do with the
Merchants Bank, although the main
ONCE was located in 1t.
Recently legal notices appeared stat
ing that the building was to be sold at
auction. When the date arrived the
sale was postponed In order that
further negotiations might be carried
on In regard TO certain notes that were
due. Today's announcement marks the
success Of the conferences.
Today's Trading ON Exchange.
Today's trading was rather. light on
the Washington Stock Exchange, but
much flrmer tone was noted In local
securities.
Capital Traction figured in two sale:
Of 10 shares each at 49, This was
gain over yesterday, but the main fact
Of interest was that bids we're made fol
several large blocks at that figure and
the stock was not forthcoming.
The bid on Riggs National Bank stock
was also raised another indication of a
better tone In local quotations. There
was a transfer of so shares Of Potomac
Electric Power per cent preferred
stock at Ill ex-dividend, and so shares
Of Washington Railway g. Electric pre-
ferred changed hands at 90 ex-dividend
Bond trading was confined to WASH
ington Gas Light and Washington Rail-
way & Electric issues around recent
quotations.
North Americans Surplus Up.
The statement of North American Co.
and subsidiaries, as Of September 80,
1880, shows total assets Of 1921 .05l ,202,
comparing with $685., 087, 749 on Septem-
Der 30. 1929, and total surplus of S140,-
773,397 against $l17yO35, 807. Current
assets totaled s52,746,065. and current
liabilities, including accrued taxes, in
terest. dividends, etc, amounted to S34,-
1853, against $49,856,0l4 and $49,-
S10.576, respectively, on September 80
1929
The Federal Reserve Boards condition
statement Of weekly reporting member
banks in leading cities on November l9
shows an increase for the week Of $50,
O00, 900 In loans and investments and
decreases Of SIS, 900 900 in net demand
deposits $66 900 900 in time deposits
and $l4,000O00 in Government deposits
Peoples Drug Dividends Voted.
Peoples Drug Stores, Inc, has declar.
ed the regular quarterly dividends of q
cents on the common and $l62is or
the preferred stocks. Common dividend
Is payable January tc .Sock Of recorc
December and preferred December II
TO stock of record December !.
Loews. Inc. declared an extra diVi.
dend of 81 on the common in addition
TO the regular quarterly common divi
dend Of rs cents, both payable Deem
Der 81 to stock Of record December Is
The company declared an extra divi
dend Of rs cents at this time last year
Gains for the October and 10 months
periods are revealed By the stetemen
Of operations of Potomac Electric
Power Co. fled yesterday with the Pub
lie Utilities Commission. Net incom
for last month was S399,27ll8 an in
crease of $57, 1888 88 over the month las
year and that for the 10 months Of tn
current year, $3,756,61747 or $488
84701 more than the corresponding pc
Rod year ago.
Heard In Financial District.
Frank l.. Dame, president of thu
North American Co. reports to stock
holders that construction is ahead o
schedule on the new Office building o
the Potomac Electric Power Co. ant
the washington Railway g. Electric Co
on the new electric operating service
building and on the new bus garage.
Among bankers on a list of nomina
lions as directors of the Buy-in- Wash
inRton Council filed by the committee
appointed for the purpose Of suggest
ing members for the body are Presiden
Joshua Evans, jr, of the District Ma
tional Bank; President John Poole o
the Federal-American Bank & Trus
Co and Vice President John Eynon o
the same institution.