Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-22
BANK ADVERTISING
POLICY is URGED
More Informative Public An
nouncements Suggested by
f'e Convention Speakers.
by EpwARp c. STONE.

BY EDWARD C. STONE.
More Informative bank advertising
and a greater volume of 1t were among
the keynotes of the national conven-
ton of the Financial Advertisers AS
ISOLATION just held in Boston, according
to Eliot H. Thomson, advertising man
sger of the Washington Loan g. Trust
Co., who represented the local banking
fraternity at the meeting. A higher
type Of Salesmanship inside the banks
was also stressed as vital need after
the newspapers have pictured in detail
banking services to the public.
1t was said at the convention that the
task Of advertising men and statesmen Is
q little different today from what 1t was
two years ago or even 10 months ago.
Earl Newman, who is particularly In
terested in investment trusts, spoke of
the. changed conditions in this way
i am not sure, for example, that our
problem at the moment is not one of
confidence building in all of our adj
vertising, and all of cur sales activity
People are in that hysterical condition
where they quote the price of every
thing, but know the value of nothing
The mere fact that some of their favo-
rite stocks have found one new bottom
after another has made them forget
NAldJ biic pLlyoAChl doSSbo DdSh VI bllCoN
stocks are much the same as before.
You may be sure that the public Is
taking its cue from us. It is we who
need to remind them that behind Amer
lean securities lies, not only earning
power, managerial ability, and enter
prise, but physical property, plant ma
chinery, railway systems. timber lands.
raw materials, that make up our wealth
and resource as a nation.
4 l. r.. l.
that If one of our many railway Sys-
TENS were forced to liquidation today,
the proceeds from the sale of timber
land owned by one of its subsidiaries
would, even at present prices, alone pro-
vide sum of money sufficient to make
a most substantial distribution to
stockholders. And yet this physical
value does not show on the balance
sheet Of the parent company; nor is it
reflected in market quotations on that
companys stock
1T must be made clear to people that
securities are more than scraps of
paper, that they are ineXtricably tied
up with the demand of 10000, 900 peo-
pie for the things of life. Perhaps If
we were to devote our time and adver-
Using allowances to describing the ply
steal assets behind the securities, peo-
pie are now wary Of buying, some of
that currency that has been buried
under the apple tree in a kitchen pot
would be returned to circulation"
Carpet Corporation Raises Dividend.
At a nesting of the directors Of the
Carpet Corporation late yesterday, .
dividend of SO cents per share was de-
clared payable October l to stockholders
of record September "a. This declara-
ton places the stock on regular So an
nual basis, against $3.50. plus extras,
per annum, previously paid.
Harry L. Carpet. president of the local
corporation, reports excellent progress
this year, gross sales for the first seven
months being 81 ,138, sos, as compared
with 81 ,0e2,571 for the corresponding
period of 1890, in spite of the fact that
prices of merchandise sold show a de-
crease Of about 20 per cent. The entire
dividend for the year has been more
than earned In the first seven months
Of business
John r. Brawner, of Waggaman,
Brawner 81 Co., Inc, was elected treas
urer Of the corporation TO I'LL the va
cancy caused by the death Of the late
Arthur Foraker
The stock is listed on the Washing
ton Stock Exchange and is widely held
by local investors.
B. & o. Dividend Discussed.
In view of the fact that other car
riers, such as New York Central, have
reduced their dividends lately, it seems
likely that the Baltimore & Ohio viii
do likewise when its board Of directors
meet on September 80, says today's
Wall Street Journal.
Although 1t Is dificult to predict
what action the board will take, it
would not be surprising for the road
to declare a dividend of 81 against
payment three months ago of SIPS a
share, IN view of earnings shown thus
far this year.
Up until short time ago, it seemed
that the road would most likely have
TO be drastic in the dividend reduction,
but conditions are beginning to look
better.
1t now seems possible that the Balti-
more 81 Ohio will earn as much as $3.50
a share on its common stock for 1881.
A 10 per cent increase in freight
rates. it is estimated, would add ST.
100000 a month to the Baltimore g.
Ohio's revenues.
Active Session on Exchange.
Trading was again active on the
Washington Stock Exchange today, con-
fined largely TO stocks.
The first five transactions we're 10
share lots in Potomac Electric per
cent preferred, followed by Two 5-share
sales, all made at ll21a. The So per
cent preferred also came out during the
day. selling at ITO.
Lanston ~Monotype. which recently
changed from an per cent basis to
Z per cent basis, opened today at n for
10 shares. Ten shares then sold at
1872, 10 more at 1874 and 20 at rs.
Washington Railway e. Electric pre-
ferred changed hands today at 97&
and IL shares of Riggs National Bank
stock sold at $40. This was the largest
block of Riggs National stock that has
appeared On the board for some time.
Capital Traction figured in small
lot trading, ex-dividend. at 80, after
last weeks close ex-dividend at 80.
While very little stock is coming out,
the lower quotation is due to the taxi
cab competition which has recently
denied earnings Holders of the stock
are now hoping for a more rigid con-
troll Of the taXicab business by the Pub
lie Utilities Commission.
Recent additions to the local issues
now quoted eX-diyidend are Norfolk g.
Washington Steamboat Co.. and Fed
eral-American Co. common and pre-
1erred.
Washington Clearing House figures
for today: s3226, 086.7S