Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-13


while in Mime FIG. Addison, Jr.
anohs the wheat
market and the flour trade showed a
better tone following the Hoover plan
announcement Anniversary and spe-
cial Fall sales have proved boon 10
trade in Atlanta.
Current conditions in Chicago are
about the same as III recent weeks TINS
stability being considered as favorable.
San Francisco reports Sl,OO0,OO0 in
crease in exports in the hrst elslI
months of the year and notes marked
increase in the number of telephones
installed. Cleveland still awaits turn
for the better. the only cheer belng
seen in the fact that the Hoover plan
had the effect Of relieving business
tension,
AS already noted. retail trade IN the
local fifth district is now only per
cent under the mark for the nrst elgnC
months last year, the best record mace
by any of the II districts.
Recalls Banking History.
Francis M. Savage, q retired local
banker. says:
Apparently the public at large does
not recall the Northumberland law.
whereby Congress authorized the issue
of $500 000000 emergency currency
whereby the controller of the currency.
with the approval OF the Secretary OF
the Treasury, could loan same to banks
accepting bonds and other approved
assets as security.
THE famous John Shelton Williams
promptly notified the banks not to sell
out any one until after notifying MN
and until they had applied Tor loans
The result was prompt and eHectlVe
No forced liquidation of note followed
rit
transition in values. but per cent
savings account will not recede or
change in value and fortunately all
banks in Washington are good
Addison Back From A. B. A. Meet.
Francis G. Addison. jr., president OF
the Security Savings IL Commercial
Bank, has returned from the annual
convention of the American Bankers
Association at Atlantic City, where he
represented the District Bankers AS
ISOLATION as a member of the executive
council
In one way the smallc- attendance
this wear was highly beneficial he SAID
today, as it placed the delegates in
mitch closer contact with each other
and afforded them a better opportunity
to discuss in very intimate way the
problems before the convention.
Mr.. Addison joins the other local
bankers at Atlantic City in lauding the
brilliant address made by Fred I. Kent.
He considered it a remarkable state
ment of present banking problems and
what appear to be the best methods
toward their solution.
The Hoover s50OOo0,0o0 plan over
Swallowed everything else after 1t was
presented for the consideration Of the
convention, Mr.. Addison said.
dollars and Sense" Appears.
Dollars and Sense, the yearbook of
Washington Chapter. American InSn-
tute of Banking, is just of the press.
This publication has made national
reputation among institute chapters
and this one maintains the same high
standard
It contains pictures in colors OF the
Capitol Confessional Library, Pan
American Building and Lincoln Memo
rial, also pictures of the Board OF Gov
errors and officers during the past
wear, as we'll as the members OF the
Yearbook staff. To make it still more
attractive, the members OF the faculty
also appear to fine advantage. as do
officers IN the District Bankers Asso-
citation which sponsors the work OF the
institute.
Thumb-nail sized pictures of gradu-
ates and committee chalrmen nave
been included. AS usual the work OF
the year IN all departments is clearly
and entertainingly presented.
Trading on d. c. Exchange.
Trading on the Washington Stock
Exchange today was featured by sales
In Carpet Corporation stock. Three
hundred shares changed hands, the
stock opening with two 50-share lots
selling at IS, following the last previous
sale at II. After CALL two l00-share
lots changed hands al the same price
The opening stock sale, after the
three-day holiday. was in Capital Trac-
ton. This issue again sold at 25 on
turnover of 35 shares. Potomac Elec-
trio Power 6 per cent preferred opened
with small sale at 100 and closed at
1924
Washington Gas Light bonds, series
A, opened at 1902 and closed at l0l.
The same corporation IS, series B,
figured in $500 sale at l00i2 and
$1,000 sale at 10l.
Insurance Expert Speaks Here.
The life insurance managers Of Wash
ingtnn have undertaken serious study
Of the new conditions in their bust
ness under the leadership OF the Life
insurance Sales Research Bureau of
John Marshall Holcombe. ir., man.
ager of that bureau. addressed the
managers section of the District of Co.
lumbia Life Underwriters Association
at the Hav-Adams House at luncheon
today on Agency Building Under Pres
ent Conditions.
This program has been provided by
the committee headed BY Earl D. Knew
son H. Lawrence Choate is chairman
of the managers section.
\ h 1Cytn M
for today, S3,402 ,495.40; for Monday,
$3.798, 1910.