Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-17
TRADING IS QUIET
ON D. c. EXCHANGE
Only Eight Sales Reported at
DAYS SeSSion-BondS Are
Featured.
BY EDWARD C. STONE.

BY EDWARD c. STONE.
Trading was duh on the Washington
Stock Exchange today with only eight
transactions recorded during the whole
session The first sales were IN the
bond division, Washington Gas 6s
series A, recorded small transfers at
1924 and 10234.
Potomac Electric Power 5ia per cent
preferred came out at 1854 ana tiny
sales we're registered in washington
Railway e. Electric preferred at 20 one
bank stock appeared on the ooaro,
single share Of American security q
Trust Co. selling at 385,
II was announced on the Exchange
that at a meeting of the directors OF tne
American Security e. Trust Co" heio
Yesterday. the regular quarterly olVl-
dend of 3 per cent was declareu'
being PAYABLE october 10 to stockhold-
ers Of record at the close OF business
September 30.
Meyer Heads Federal Reserve.
Eueene Meyer, jr., yesterday took the
oath as governor of the Federal re
.erve system. succeeding Roy A. Young
Who has become governor OF the Boston
Federal Reserve Bank.
THE hoard now has one vacancy,
caused by the resignation OF Eohl liill
Platt. of New York, who mas Oeeh VICE
chairman. e..,oa . +uo-
6av session here yesterday. b. a. MT
Igennev ~ Dallas, was elected president
- tho council Walter w. Smith, OF
ST. Louis was elected vice president
The board is understood to have dls-
cussed interest rates, redlscount IateS
business trends. banking trends eVC,
although no official statement was hiaoe
public.
ON Banks Advisory Board.
,obn NJ Beane, 100 Fifth street
a~+Jeast has been elected member
~ the Advisory Board OF Branches anu
tbe ADVISORY Committee of the North
east branch Of the American security
& Trust Co :, +,,a
MIR Beane has been engaged IN the
Yrnnabing and heating business 1or the
.a.+ IN wears. He is president of the
Norfheast Business Mems Association.
vice president of the Master PLUMBERS
Association. and a member OF the BOARD
If Trade and Elks Club No. Is, he
was born in Rockville, Mo, Aprh a.
1893. and came to Washington, When
he was l6 years old.
Bonds Highest Since 1928.
The advance in bond prices, which
hae been in progress with only minor
determinations for more than two monInS'
show no signs of reaching an emo. Inc
STANDARD Statistics Co. price IloeA VI
al hiph-grade listed issues on SepVettl-
Der 8 advanced to 1915, new hIgn ~ -
the wear and has since helo ciose "
that figure. current staVeiii0iA' sly
in part; s..tors Governing the
course of bond values indicate strongly
that the forward movement may con-
+inua over a considerable period. Inc
combination of low COMMONLY pIlISs
and ease in credit, which is unusua ~
favorable to holders OF SOUND IlAea-ln-
terest obligations, is likely 70 cGli .,,ioS
for some time to come. Inc poho Hlu I
still stands almost a full point unoeI
the 1923 high. At that time hlgh-graoe
hov,ds were fundamentally much less
attractive than is now the case
William Montgomery, president OF tne
Acacia Mutual Life Association, whose
nesduuarters are located here, mas re-
turned from Hartford, Conn, whete ne
attended the annual conference OF m
s,,ra,,ca commissioners. This is regarded
an insurance circles as most important
meeting. and is attended by prominent
ronnanv executives as well as insurance
commissioners from all parts OF the
country. Mr.. Montgomery took lead
inc mart in the arious discussions per-
tanning to life insurance.
Heard in Financial District.
Walter S. Penheld, director in the
Washington Loan g. Trust and promi-
nent lawyer who spent the Summer az
Ventnor. N. j., has returned to WASH
ington. .,u,
of the New York Stock Exchange ano
the washington Stock Exchange. an
nollnce the opening of Baltimore
Office under the management OF Gougn
r THOMPSON, assisted by F. Nelson
Bolton. II occupies the twenty gntH
floor Of the Baltimore Trust Building
The baltimore Southern Lines, OPP
Grating a freight trucking line between
baltimore. Washington and Shenandoah
Valley points as far South as Roanoke
has doubled its volume of business each
month over the preceding one in the
three months it has been operating, &C
cording to a report made today by G.
E. Calvert president of the lines. from
his Office, 301 New York avenue, Wash
ington.
Returns from an informal question
naire sent out by the Department OF
Commerce show that so far in current
year 500 900 900 has been appropriated
and in some instances expended on the
improvement and expansion of water
works facilities.
Commercial Credit Co has acquired
1880 shares of the common stock OF
the Aviation Credit Corporation al
S2306 a share. It now owns more than
80 per cent Of the total outstanding
stock Of the Aviation Credit Corpora
ton