Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-15


ported them SLOW
Tampa, Fla, was
the only city re-
porting good col Robert Stead, Jr.
jectionS. although
81 other cities characterized collections
as fair" and AZ reported them SLOW, .
Eleven cities moved over from the slow
column to fair" during the month.
The most encouraging reports came
from Florida, Colorado, Nebraska and
California and the most unfavorable
from Connecticut, Oklahoma. Arkansas
and Tennessee, depressed industrial &C
tivity and the prolonged drought being
blamed for unfavorable conditions.
stead Joins Brokerage House.
Robert stead, ir.. has joined the bond
department of the Washington ofhce OF
Eastman. Dillon g. Co, according to an
nouncement today by Arthur FORAKER,
the local manager For the past flVe
wears Mr.. Stead has been joint man
arer with J. M. Dagger OF the local
ONCE of Iglehart g. Co.
He is a native of Washington and be-
fore being connected with Iglehert q
Co, was with Harris, Forbes & Co.. and
previous to that with Hartman GO.
before the World War Mr.. Stead was
employed by the Riggs National Bank,
He lis a member of the Chevy Chase
Club. being in charge of the clubs golf,
also of the Racquet Club and the Burn
ing Tree Club. Incidentally, he is
descendant of Peter Foss. who was one
of the only three mayors that Washing
ton ever had.
Gas Appliance Sales Gain.
The washington Gas Light Co. re-
ports much larger sales OF gas appn-
ances since the announcement OF the
proposed reduction of gas rates. sales
are especially active for house-heatlng
units. is being ordered in one day, the
sales in furnaces and all other gas APP
planes amounting 10 more IMAM
S11 900.
Gas mains are being dug and extern
sions made rapidly in all parts of the
District and outlying communities
During the past few days gas mains
hive been extended to New Hampshire
avenue and Farragut street northwest,
Forty-fourth street and Lane place
northeast, Eighteenth street and Bunker
Hill road northeast and Division ave-
In Kensington, Md, gas mains are
being extended to County and Lee
roads and Connecticut avenue and West
Baltimore street
New mains have been laid and serv-
ice connections have now been made in
the 1900 block on Forty-eighth street
and the 800 block on Forty-ninth street
northeast. the 900 block on K street
northeast, the l400 block on Taylor
street northwest, the 300 block on
Rhode Island avenue northeast and the
1900 block on Juniper street northwest.
In Kensington service connections
are now being made in the vicinity of
Connecticut avenue and West Washing
ton street and Fawcett and East Balti-
more streets.
Advisory Council in Session.
The Federal Reserve Boards Ad-
visory Council made up of some of the
most prominent bankers in the United
States is holding a two-day session in
this city at the Mayflower. The ses-
sions opened this forenoon. Tomor-
row the council will hold a meeting
with the Federal Reserve Board. John
Poole, president of the Federal-Ameri-
can National Bank of this city, is one
of the members, and was present at
today,s discussions. The board dis
cusses money rates, banking conditions
and trends, discount rates and half a
hundred other matters that have bear
ing on the duties of the Federal Re-
serve Board. The members of the
council present the results of their de-
alterations to the board in detail, but
very little that is said in the meetings
Is made public.
Trading on ID. c. Exchange.
The weeks business started out
quietly on the Washington Stock Ex-
change today, with practically no price
changes. The first stock sale was in
Potomac Electric Power 5l2 per cent
preferred which opened at 1891 and
closed at 108l2. Columbia Sand &
Gravel preferred registered 90h4, Lam
ston Monotype moved in a very small
lot at ia and Washington Railway &
Electric changed hands at 9734. There
was only one sale in Capital Traction,
10 shares selling exdividend at 60%.
Bond trading was confined to $1,000
transfer in Washington Gas IS, series
A, at l03 $4,000 Washington Gas SIS
ct 104lz and $4,000 Capital Traction
IS at "a.
Heard in Financial District.
Lawrence A. Slaughter. vice presi-
dent Of the Commercial National Bank,
was back at his desk today after va
cation at Saranac Inn, ~ Y. Before
he left there, former President Coolidge
had arrived at the hotel TO attend a
convention OF the New York agents of
the New York Life Insurance Co. The
former President appears TO be in un-
usually fine health, Mr.. Slaughter re-
ports.
Samuel r. Baulsir, cashier Of the Sc
Curity Savings a. Commercial Bank, is
taking his annual vacation at Atlantic
City Julius I. Peyser, chairman of the
board, is in New York in connection
with the Fidac convention.
Issac Cans, director IN the Federal
American National Bank has left
Washington for few weeks vacation
st Haddon Hall, Atlantic City. He is
accompanied by Mrs. Cans.
The Financial Advertisers Association
opens its fifteenth annual convention al
Louisville Wednesday. The advertising
challenge of the next decade is tho
convention theme. David Friday
Washington economist is among tht
speakers.
Initial drawing for redemption o.
the Chesapeake Corporation 20-year
per cent convertible collateral trust
bonds. due May Is, 1947, Of which SAB,
100000 were offered to investors II
May. 1927 is announced today by j
p. Morgan 81 Co. and Guaranty Trus
Company of New York, as SINKING
fund trustees. A notice to holders o
these bonds calls attention TO the FAC
that $7l7000 Of the bonds have beer
drawn by lot for redemption on No
vember Is, 1880, at par and accrued In
interest.