Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-18
PERPETUAL ELECTS
PRESENT OFFICERS
Brokers Promoted-Gain Is
Noted in Bank Deposits as
Loans Show Drop.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
All the officers and directors of the
Perpetual Building Association were re-
elected at the annual meeting of the
stockholders held yesterday. They in
clude James Berry, president; Arthur
@. Bishop, vice president; Edward G.
Baltz, secretary; Marvin A. Gusts,
treasurer; Raymond K. Espey, assistant
secretary, and John G. Scofield, Vernon
@. Owen, Franklin w. Harper and DR..
William G.. Schafhirt, members of the
board. The stockholders were informed
that the associations assets now total
more than $24,000000 and that the
organization stands twelfth among all
building associations in the country
which are members of the United States
Building & Loan League.
Broker Employees Promoted.
1t was announced at the local offices
of Hartman g. Co. today that Homer
Bassford, who has been in charge Of
margin accounts, has been made as
s1stant to Manager L. w. Todd, and
that Ralph L. Bailey has been placed In
charge Of the statistical department.
Mr.. Bassford is "a years old, was born
In Missouri, but reared and educated
In Washington. Since leaving high
school he has been growing up in the
brokerage business in this city. His
father was for many years secretary to
the late Champ Clark during the lat
ter's long and distinguished career in
Congress
Mr. Bailey Is a native of Wilmington,
Del, Is 26 years of age and is men,
Der Of the District of Columbia bar. He
has been with Hartman & Co. for sew
eral years as a margin clerk. The pro-
noting of these young men is in line
with the established policy of G. Bowie
Chapman, resident partner, to advance
members of the staff whenever possible.
Record Business Reported.
The Enterprise Serial Building As
ISOLATION, Seventh street and Louisiana
avenue. on October 1, 1880, had assets
of 81, 295, 845, an increase of S43,55 for
the past year, according to report
made today.
During october 1852 new shares of
stock we're subscribed the largest bust
ness during any one month in the his
tory of the association and more than
so per cent increase over the CORE
spending month of last year. The as
ISOLATION also made record for loans
made by it during any one month,
$104,250.
The association was organized in
March, 1892, and has shown a steady
conservative increase in assets since
that time. The officers and directors
are James e. Connolly, president; John
T. Crowley, vice president James F.
Shea, secretary, and G. Percy McGlue,
treasurer.
Directors: George ]. Berger, Martin
A. Cook, Bernard r. Edwards, Maurice
Fitzgerald, P. F. Hannah, Ralph A.
Judd, NJ. A. Keane, M. j. Keane, Ed
ward T. Kehoe, Frederick Kraus and
p T. inland
The association is a member of the
Building Association Council OF the
District of Columbia and of the United
States Building and Loan League.
Deposits Up; Loans Down.
The Federal Reserve Boards condi-
member banks in leading cities on
November IL shows decreases for the
week Of S76.000,000 in loans and invest
ments, $1,000, 900 in borrowings from
Federal Reserve Banks and $23, 200 900
in Government deposits, and increases
of s22o 600 600 in net demand deposits
and $4,000, 600 in time deposits.
Loans on securities declined $l57 ,00o,-
600 at reporting banks in the New York
district. $4,000, 900 each in the Boston
and Chicago districts and S181 900, 600
at all reporting banks. "All other"
loans increased $40, 900, 900 in the New
York district and SO, 900 900 in the Chi
cago district, and declined $4,000, 900
In the Boston district, all reporting
banks showing a net increase Of $43,-
100000.
Southern Diaries Earnings Up.
Southern Diaries, Inc, and subSidi-
aries report for six months ended June
30, 1880, a profit Of 1888, lao after de-
probation, interest, amortization, mi
nority, etc. but before Federal taxes,
compared with profits Of S233.406 in
the first six months Of 1929. The con-
solidated financial statement reports
net sales at $5,o72, 239; cost of sales,
$685. $40: balance, S433,719; other in
come, $501 500: depreciation, etc, and
subsidiary preferred dividends. 1888, $50.
Another report, just out, which con-
tains more than ordinary local in
terest Is that of Warner Bros. Pictures,
Inc, and subsidiaries. The corporation
report for year ended August 30, 1880,
net profit of s7,074.621 after deprecia-
ton, amortization. Federal taxes, special
film inventory, write-down and extraor-
binary expenses incident to the co-ordi-
mating Of newly acquired properties.
These net profits are equivalent after
preferred dividends of SLIT share on
3,769 OPS no-par shares of common
stock now outstanding.
Trading on ID. c. Exchange.
The heaviest volume of trading on
the Washington Stock Exchange today
was In Merchants Transfer e. Storage
preferred, ITO shares changing hands
at 94A.
Both type stocks were out, Lanston
MonoSype selling at 103. and Mergen-
thaler Linotype In small lots at 9k
up 70 8934 and down to SO at the close.
WASHINGTON Gas LIGHT Stnck re0is-
tered 121 in 19-share sale and the
same amount of Potomac Electric Power
81 per cent preferred stock moved at
1071a.
Bonds were quiet 81 900 Washington
Gas SIS selling at los, and 81 900 Capt.
tai Traction SIS moving at 85
Potomac Electric Power per cent
and the 81 per cent preferred were
quoted ex-dividend today.
Heard in Financial District.
The Federal Reserve Advisory Coun-
Gil was holding its regular quarterly
meeting here today. John Poole. presi-
Bank g. Trust Co, is a member. Only
routine matters were expected to be
discussed.
The Bank Women's Club of Wash
ington will hold its November dinner
meeting at the Iron Gate on the 25th
Miss Elizabeth Haney, passenger repre-
sentative of the b. g. o., will give an
illustrated talk on "our National
Parks" The president, Miss Mabel T.
Royce, viii preside.
The offering of $40 100000 Federal
Land Bank AZ per cent bonds has been
oversubScribeo, it was announced today.
Election of officers was TO be the chief
business at the annual meeting of the
Washington Stock Exchange tomorrow