Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-16
BOND, SALESLEAD
!. OND.: c. EXCHANGE
Lsnston Nonotype Proves
{ lost Active Stock During
Esg Today's Session.

WfnG OF RaQ1n& sOns the washington
Stock Exchange today. The market
opened with $1,000. $4,000 and $4,000
sales at 7S. Other bond transactions
were small sales In washington Gas Is,
series A. at 1os and Potomac Electric
Power IS at 1os. 81
LAnston Monotype was the most. &C
1--we stock, selling of over point dur
ing the session. It opened with 10
shares selling at 84K. Four more To-
share sales followed, the last one being
made at 30. The other type stock, Mer-
genthaler, also appeared on the board.
selling to the extent. Of is shares, ex-
dividend, at T43z. Peoples Drug Stores
preferred figured in two light sales DUR
ing the session, both at 100%
Two stock transfers we're also record
ed In Washington Railway a. Electric
preferred, both at 99K. The ex-divi-
dend list now includes Capital Traction,
Mergenthaler and Emersons Bronco
Settler, but will soon be augmented by
the large number of bank issues on
which regular dividends have just been
declared.
Urges Inferi0rity Complex Ban.
Mrs. Anna Tillery Renshaw. who
heads her own school of expression. told
more than 100 members and guests Mt
the annual dinner of the Women's Com
mittee of Washington Chapter. Ameri-
can Institute Of Banking, at Hotel
Roosevelt, that bank women should rid
themselves of an inferiority complex.
MRS. Renshaw. who has been studying
psychology at the University of Vienna
during the Summer. said that all wom-
en- suffer from this complex and that
when women enter business this bogev
man is all the more deadly. Women
should readjust their attitude toward
their business environment, she de-
clared.
She told the women that they are up
against emotional odds, adding that this
handicap could be removed by respond
ing tn1personally to the petty jealousies
that annoy them rather than person.
ally. THE test Of intelligence" she
said. "iS ones ability 20 solve problems
despite the ODDS"
She praised the American Institute Of
Banking as a unit of education helping
the individual to attain normaIity. Ones
success depends largely, she said. on q
harmonious adjustment to inner and
outer conflicts and the proper relation
ship of the individual to the group
about him.
other speakers included Aubrey o.
Dooley. chapter president; Raymond B,
Dichey, dean of the faculty, Richard A.
Norris, educational chairman, and Miss
Rose Royce, member of the National
Woman's Committee. Miss s. winifred
Burwell, presided.
People Paying Their Debts.
Col. Leonard P. AyreS, vice president
Mf tia Ciavcland TrfRzf 10 in HE
monthly review declares that individual
debts are being rapidly paid on in
this country and he considers this one
Of the most hopeful developments of
the depression period. Nearly half a
century ago, Col. Ayres says, writer
in the Commercial and Financial
Chronicle, discussing the depression of
1884, noted the same sort OF develop
Ment and added:
In America in times Of prosperity
we make our debts; in times Of depres-
sion we pay our debts, and then we
start again" We have gone through
that process repeatedly. When the end
Of prosperity comes hundreds of thou
sands Of people are heavily burdened
with debts that have been lightly as
stunned. During the hard times that
follow these debts are steadily paid OH,
and savings accumulate. Eventually
the savings predominant and seek ac-
tive use, and recovery starts, says the
Cleveland banker.
Col. Ayres adds that the basic cause
Of the worlds commercial dificulties
Is the present weakness In commodity
prices, there being no evidence that the
bottom has yet been reached. Three
other major dif1culties, he says, are the
combination Of fiscal troubles abroad,
the fact that banks here and abroad
expanding It, and the plight Of the rail-
roads which nov have revenues so Sc.
rtouSly inadequate that investors are
turning away from their securities"
Insurance Leader Coming Here.
President David s. Bethune Of the
District Underwriters Association an.
nounces that the September meeting
viii be held at the Carlton Hotel, next
Tuesday. with luncheon at 1890. The
guest speaker VIII be Hendrix Davis of
Houston. Tex.
Arrangements were made to have Mr.
Davis address the managers section on
this date but In view of his reputation
as q speaker It was decided to have a
joint session with the entire association.
Mr.. Davis is the leading producer Of
the Aetna Life Insurance Co. as we'll
as president of the Life Underwriterx'
Association in Houston and has a rem
utation in his section Of the country
as q constructive and entertaining
speaker
The annual convention of the Nation.
al Association Of Life Underwriters
taxes place next week in Pittsburgh
and many local insurance men are
planning 70 attend.
Booklet Gives Banks History.
Waggaman. Brawuer IL Co.. Inc. local
investment bankers, are distributing a
booklet entitled "ll9 Years With Chat
ham Phenix," which gives an interest
ing history Of this leading financial in
stitution. On June 80 it reported CAPT.
tai OF $l6,2oo,o 900, surplus, $l6,A4e,6i3,
ana deposits of 1921 ,044,1S It has an
unbroken dividend record for So years.
the present rate being 81 per share, or
o Yield Of over per cent.
Heard in Financial District.
Directors Of the. District National
Bank have declared the regular quarter
~ dividend of per cent payable on
Octooer TO shareholders of record
September %.
Directors of the American Security
o. Trust Co. late yesterday declared the
usual quarterly dividend Of 8 Der cent
payable October 10 to stockholders of
record September 80.
=. E. Mountjoy, Washington represen-
tative OF the American Bankers AS
ISOLATION, left here last night for Grand
Rapids, Mich. to attend the sixth Mid
western Trust Conference, which opens
there tomorrow
Washington clearing house figures
Tor today: 1859 ,070.53.
DEMAND FOR HARDWARE
IMPROVES MODERATELY