Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-02

most favorable i'm
preston. Interest Mabel v. Royce.
rates which the
banks pay on checking accounts vary
greatly all over the country, and take
a surprisingly high percentage of earn
ings.
1t is the aim of the bankers to make
interest rates more uniform and also
TO place this most important item on
q sounder basis. For example, in the
case of a 81 900 deposit, the bank has
to place 10 per cent of it with the
Federal Reserve Bank, another portion
Of it has to be kept with the bank
to cover any checks that may be drawn,
so that the full amount can never be
drawing interest for the bank. Yet
the bank pays the depositor interest on
the full deposit. These facts and many
others were brought out at the conven-
ton. While not new to bankers, they
were presented in a most graphic way.
Branch and group banking also re-
eeived due attention. One of the
longest papers on record was presented
on the subject. One of the best ad-
dresses of the conference was made by
a minister, Rev. John L. Davis, pastor
of the Washington Avenue Methodist
Church, New York City. While not
down on the program, F. G. Await,
deputy controller of the currency, pic
tured what is taking place at the hear
ings of the banking and currency COM
mittee in Congress Mr.. Await has at
tended practically every one Of these
hearings and his off hand remarks
proved intensely interesting.
Chairman McFadden of the House
banking and currency committee was
unable to take his place on the pro-
gram A great variety Of views was
expressed on money rates. Some see
long period of easy money, while others
believe it will be tighter inside of two
months.
Miss Royce Club President.
At the annual meeting of the Bank
women's Club of Washington, held re-
Gently. Mabel v. Royce was elected
president of that organization, having
served as vice president during the past
year.
Miss Royce has been connected with
the Washington Loan 81 Trust Co. for
a number of years and is now in charge
of the insurance department. She is a
member of the board of governors and
Of the woman's committee of Washing
ton Chapter of the American Institute
of Banking, and is also graduate of
the institute as well as the holder of
certificates in two graduate subjects.
She is also on the staff of Dollars and
Sense.
The Bank womens Club is showing
q gratifying increase in membership
and seems to be affording a means of
contact among women bank employees
the necessity for which has been felt
for q long time. Miss Royce succeeds
Miss Mary j. Winfree, who served the
club most efficiently last year.
April witnessed Business Gains.
- fkAo IN
coin National Bank says in its May
issue:
Business activity resumed its upward
course in April following what in the
opinion Of many observers amounted
TO a secondary recession in March. In
cluded in the April gains are an en-
larged automobile output, increase in
building, renewed upturn in steel pro-
duction and expansion of retail trade,
according to the data now at hand.
Automobile production rose sharply
IN the first two weeks of April, par
ticularly among the low-priced makes,
according to advance reports from the
factories. This followed upon an in
&eRss of approximately 1900 ma
crimes in the total output for March
as compared with February. At 40l, -
400 machines the months output was
the largest since the previous Septem-
Der, according to United States Com
merce Department records, but 1874 900
units less than the unprecedented
March output of 1929.
steel has proved perhaps the most
consistently steady of all the primary
indicators during the depression of the
past months, and its April recovery i
new evidence of its basic strength. The
Increased support of steel in April was
drawn principally from the automobile
plants and structural operations. Rail.
road demand on the other hand, suf.
fered curtailment due to reduced earn.
ings of the roads"
Facts on Washington Securities.
Crane, Paris e. Co. has published ;
new list of Washington securities, in
Guiding public utility insurance ant
miscellaneous stocks, bank and trus
company stocks, as well as public utilit.
and miscellaneous bonds. The list give
the par value, capital outstanding
dividend rate and date of payments
the yield and high and low quotation
back as far as 1925. Similar informa
ton Is presented on the bonds. Tn
folder gives a most interesting pictur
of Washipgton's leading investments
including bid and asked quotations VI
70 May /.
Earnings of $14.3S per share on tn,
80 1000 shares of Lanston Monotype Stocl
outstanding, compares with 1888
share on 5e,49e shares outstanding II
the previous year. The balance shee
as of February %, 1880, shows tots
assets of $1O,7o2, 948, comparing wit
$lO,272,373 on February %, 1929, an
surplus of $4,532 ,592, against $4,137, so.
Current assets at close of fiscal yea
amounted to SIS, 519,795 and current II
abilities $167,556, comparing with 81,
742,975 and $l85,47l, respectively,
Rlnea ~ 6cH0l
Trading on ID. C. Exchange.
Fifty shares of Capital Traction stoc
sold at 1872 on the Washington Stoc
Exchange today. Washington Ranwa
g. Electric moved at 9812, Washingto
Storage at lis. Potomac Electric Pow
er So per cent preferred came out 9
10sA.
Bonds drew considerable attention
Capital Traction SIS sold at 94A, WASH
tngton Gas SIS at 10l and 1000. Ga
6s, series A, bonds moved at 10212 an
the B bonds at 104$4. Three thousan
dollars Washington Railway d Electr
4s changed hands at 87%.
Heard in Financial Section.
C. j. Gockeler, vice president of IL
District National Bank, has bee
swamped with visitors asking Tor al
pratSalS on stamps since ne englneere
the deal which brought $4,000 for
President Buchanan stamp, togeth'
with the envelope and handwriting on
President Revert v. Fleming OF Il
Riggs National Bank win attend II
meetings next week at Old Point Con
fort of the American Bankers ASS
citation executive council. He is on Sc
eral important committees which W
report at this meeting.
j. Thilman Hendrick chairman, al
H. d. Best. president of the Lanstt
1Eonot,yne n sailed tndav from Ne