Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-26


dications are that s@#
the club will start M %
out with about 40 49,. 81
of the lea ing Louis E. PurneI
brokers in the city
on the roster as representatives OF the
different firms.
Membership is open to partners, man.
ayers and assistant managers OF the
concerns doing q New York Stock EX-
change business. In some instances
as many as three members of the same
firm have asked to go down on the list
IS representatives. The chief aim OF
the new club is mutual protection, and
the interest displayed in the organiZa-
ton has been almost surprising to those
assuming the burden of getting the as
sociation on a solid basis.
The officers of the Ticker Club are:
George A. Garrett of F. B. Keech g. Co.,
president; A. Chester F1ather, @. M. p.
Murphy g. Co., vice president and
Arthur Foraker, Eastman, Dillon q Co.,
secretary-treasurer.
PurneH Wins Essay HOnOrs.
Louis T.. Purnell, who won second
prize In the Institutes essay contest and
rets q trip to the District Bankers As
ISOLATION annual convention at Ashe-
vile, N. c., Is employed as a book
keeper In the Park Road branch OF the
Riggs National Bank, of which Carl H.
Donch is manager.
The essay winner is not quite 81 years
Of age He was born in Baltimore and
got his early education in Pittsburgh
and Cleveland. After coming to Wash
ington he graduated from Eastern High
School.
He is taking courses in Washington
Chapter. American Institute of Bank
ing, and is a favorite among his aSSo-
ciates, this being shown by the fact
that he is assistant superintendent OF
the Ingraham Memorial Sunday school.
The young man has been with the Riggs
Bank about two years, being transferred
several months ago from the North
west Branch to the Park Road Branch.
Ship Contracts Involve S21,OO0,OOO.
Much local interest is noted in the
announcement that Paul w. Chapman.
president of United States Lines, has
signed a contract with New York Ship
building Co., subsidiary Of American
Brown Boveri Electric Corporation, for
the construction of two f1rst-class liners
of 10000 gross tons each. These YES
sells, the total cost of which will run
over SCI 900, 900, will be the largest and
finest ships ever built in this country.
Contract calls for completion of the first
ship within 26 months, or July, 1882.
and for the second snip WlJrlm 50
months, or November, 1882.
New ships will be similar in exterior
design to the Leviathan, except that
they will have two tunnels, while the
Leviathan has three. They will have
length of 705 feet and a beam Of So
feet and will carry first, tourist and
third-class passengers to q capacity OF
about 1900.
About ESQ Convention Reservations.
Claude H. Woodward, chairman Of
the transportation committee for the
annual convention OF the District
Bankers Association, reports that re-
quests for accommodations for about
$50 people have already been received.
This means the largest attendance on
record.
1t is stated that no reservations will
be handled after Saturday, May 81. At
the present rate the standing room
only" sign will be out before that time.
The work of all the committees has been
completed and the program turned over
to the association president, w. j. Wal
Ter, for submission to the printer.
The last CALI just sent out notified
the delegates and their friends that the
two special trains will leave the Union
Station on Wednesday evening, June 4,
at 6 O'Clock.
Traction ID Market Feature.
Capital Traction stock was the fea-
ture of the Washington stock market
when trading was resumed today. The
stock opened with three shares selling
at 10. Then followed seven sales in
volving 100 shares at 697s. The market
closed with q tiny sale OF two shares,
selling at 6sa4, q new low mark on
this move.
Federal-American Co. common regis
tered six sales of 10 shares each at 81,
Potomac Electric Power 5la per cent
preferred came out at lot and 20 shares
Of Carpet Corporation changed hands
at 1854. Washington Railway g. Elec-
trio preferred again sold at 98l2.
Bonds were very quiet. Washington
Gas IS sold at 1922 and Georgetown
Gas IS at 102. The exchange will be
closed two days this week, Friday, Me-
mortal day, and Saturday.
Meehan Firm Here One Year.
Today marks the first anniversary of
the opening of the Washington Office
of M. ]. Meehan 81 Co., members of
the New York Stock Exchange, who,
one year ago, established their local
branch on the ground floor of the Wash
ington Hotel, with Frank J. F. Thiel,
resident partner, in charge. Mr.. THE!
for many years occupied the position OF
Assistant Treasurer OF the United
States.
Since opening the Washington Of
flee the Meehan firm, which is one Of
the largest OH the New York exchange,
has opened two Offices in Detroit and
successfully initiated the innovation Of
establishing branch brokerage oflces on
transatlantic liners. now operating reg
ular brokerage service on the Leviathan,
the Berengaria and the Bremen.
Notes in Financial District.
J. Thilman Hendrick. chairman of
the board OF directors of the Lanston
Monotype c., has returned 70 Wash
ington after a short business trip to
the London Office. He was accom-
panied by the president. Harvey D.
Best.
The desk of Robert N. Harper, presi-
dert Of the District National Bank, is
St buried with flowers sent him in
&C ,tion with mis- retiring as head
O. bank and election as chairman
OF e board.
John E Parker of G. M. P. Murphy
& Co. has returned to the H street CT
fee after several days passed at vir-
ginia Beach.
An increase of Ill per cent in total
building operations in April. as COM
pared with March, is reported by the
Department of Labor. The report is
based on figures received from 285 cities
with population of more than $4,000
persons.
Although some branches of industry
and trade have shown slight increases
in activity in the last few weeks. deflnit
signs Of business revival are still absent
Guaranty Trust Co. of New York say
In the current issue of the Guarant,
Survey.