Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-16
LANSTON IS HIGHER
ON D. c. EXCHANGE
At CLOSE OF WEEK
Capital Traction at so in
Saturday Trading-0ther
Local Issues Steady.
EXCHANGE HOLDS ANNUAL
MEETING ON WEDNESDAY
Union Insurance Company Cele-
brates Sixth Anniversary-Sound
Growth Reported.
BY EDWARD C. STONE.

d EDV AMI ~ S4OENEs
Local securities were steady in final
trading for the week on the Washing
ton Stock Exchange yesterday. Lanston
Monotye, which closed Friday at 100A,
advanced yesterday to 104, scoring
gain Of 33z points.
Capital Traction wound up the week
at SO in very light trading, following the
issuing of the October financial state
ment. which showed an upward trend
in earnings for the third consecutive
month.
Potomac Electric Power So per cent
preferred came out at 108A, SO shares
of Columbia Tile g. Insurance Co. stock
sold at 812 and 10 shares of Federal
American Co. common changed hands
at 80.
Bonds were largely neglected, $1,000
Washington Gas Light IS, series A, SELL
ing at 1929, while two $1,000 sales in
Potomac Electric Consolidated SIS were
recorded at 103. The unlisted securities
were called of as usual on Saturday.
The bid on Park Savings Bank stock
was placed at 90 and the asked price on
Raleigh Hotel stock advanced from so
to SIS. The asked price on North Cap
itol Savings Bank stock Is now Is.
The annual meeting of the exchange
Is scheduled for next Wednesday, ac-
cording to announcement by Secretary
G. j. Gockeler. This event follows the
regular trading session and includes the
election Of officers board of governors
and committee on new liStingS. During
the past year George o. Watson. presi-
dent of the Liberty National Bank, has
been head Of the exchange.
Insurance Firm Notes Birthday.
The Union Cooperative Insurance
Association, one of the few life insur-
ance companies incorporated in the
District, having its home Office at 1900
Fifteenth street northwest, celebrated
last week the sixth anniversary of its
incorporation.
The company reports consistent
growth during its entire existence and
In its anniversary report shows the
following interesting figures:
Total amount Of insurance in force,
over $50 ,0O0, 900.
Total amount Of death and disability
benefits paid, over $500, 900.
Increase In insurance In force for
year ending November 10, 1890,
$50, 1000, 900.
Death and disability dement's paid
during year ending November 10,
$500, 0O0.s
It VIII be remembered that the Union
Cooperative took over this last Sum-
mer the John Mitchell Mutual Life
Insurance Co. of Pennsylvania. The
John Mitchell covered, almost entirely,
miners In the Pennsylvania coal fields.
The Union Cooperative, however, is
extending the Pennsylvania business to
al classes Of risks, as it has done
elsewhere
~he company has found a wide
1sei,~-lse TO its special group life insur-
ance policy ana group annuity plan for
labor organizations.
The company's present officers in
clude Charles p. Ford, president;
William r, Kelly, vice president; Gustave
M. Bugnizet. Secretary-treasurer and
Charles F. Nesbit. insurance counselor.
Early Buying Drive Success.
A successful Save Yourself Save
Others" campaign, which has done
much to distribute Christmas business
over longer period and start it earlier
IN the year, has been conducted success
fully for the past three years by william
Ftlene's Sons Co., Boston. The drive is
started before the holiday buying sea-
son begins, every employe Of the Filene
organization being urged not only to
90 their own shopping early, but to
induce their friends and personally
known customers to do so as wen To
this end they turn in lists Of names
and addresses and letters are sent out
by the store urging early Christmas
shopping and giving hints how time,
energy and money may be saved in this
way. In addition, cards and folders
are distributed by salespeople and mem
bers Of the delivery force early in
November, the result being a con-
siderable stimulus to Christmas buying
during the time when most people are
Just beginning TO think about their
gift lists.
Approves Branch Banking.
In the course of a recent address
Frederick H. CurtisS, chairman Of the
board Of the Federal Reserve Bank of
Boston. expressed himself in favor of
branch banking and as economically
inevitable, due 70 changing conditions
brought about by large-scale business,
modern means Of communication and
transportation and efficiency Of man
agement. Mr.. Curtiss cited the success
Of trust companies in Massachusetts,,
Rhode Island and Maine, which op-
crate branches and Affiliations. He d.
Eected attention particularly to Rhode
Island, where Statewide branches are
permitted, and said
That the present branch system is
furnishing sound banking from the
standpoint of the depositor and better
rover, no one who has studied the
Rhode Island banking situation can fail
20 agree. There would appear to be the
same conclusion In regard to Maine and
] think, therefore, that 1t would be
worth while to discuss the reasons for
the development Of branch banking In
these States"
Cleaned In Financial District.
Washington Railway 81 Electric pre-
ferred and common stocks are being
quoted ex dividend on the Washington
Stock Exchange previous to payment OF
the regular dividends due at this time.
The Interstate Commerce Commission
has authorized the Pittsburgh 81 West
virginia Railway Co. to issue $4,OO0,O00
IN unsecured short-teTm 4l2 per cent
notes TO provide funds for financing
4urtner construction Of two extensions
to the road.
More than 1000 banks and other Or
CARNATIONS viii distribute 1852, 600. 900
% Christmas savings club members in
the next two weeks, according to Her
bert +. Rawll. founder Of the Christmas
savings club idea. There are about H.
100000 club members.
department store sales have been
@teaolly expanding since July and the
October ngures showed the highest vol
ume Tor the year. The Richmond Re-
serve Bank reported the best gains Of
any section OF the country. being the
only one o. the II districts IN which
5saAes we're aboTe October, 1929.