Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-17

hsen M acfinp Sc secre-
tary treasurer OF Georse A. Harris.
the association for
several months, was reelected and EV-
erett Sanders, washington, was re-
elected general counsel of the assocla-
ton. !
throughout the meeting. many reports
from various, sections of the country in
dicating an improvement in agricul-
tural conditions.
MANY prominent bankers, who are
officers of Joint Stock Land banks, were
present, among the number being EX-
Gov. Angus w Mclean of Raleigh,
Walter j. Ball, Lafayette, Ind; w. E.
Barley, Lincoln, Nebr.; William B.
Lupe, San Antonio. Tex; E. Rivers. At
lanta, Ga; Samuel L. McCune, CleYe-
land: j. B. Madison, Charleston, w. Va.
The following bond houses we're rep
resented at the meeting: Barr Bros,
New York; Brooke-Stokes 81 Co., Phila-
delphia: C. F. ChildS g. Co.. Chicago;
Ernst & Ernst. Cleveland. Gertler, Dew
let e. Co., New York; Pierce & Co.,
Boston.
The Legislative Committee was ac-
tive during the year and was success
full in bringing about several amend
ments to the farm loan act.
Paul Clay to Address Bond Club.
Paul Clay, vice president and chief
economist of Moody's Investors Service,
will address the Washington Bond Club
at the March meeting to be held
Thursday noon at the Carlton Hotel,
e beginning at 1890. This will be the
third time the widely known economist
has addressed the club, the other two
meetings having proved unusually in
tsreSting.
Mr.. Clay will discuss the outlook for
bonds and will also have something TO
say about the stock market. As one of
the best-known economists in the
country, the local club is always de-
lighted to obtain him as a guest
speaker. He has devoted practically all
his life to research and financial fore
casting and is the author of Sound
Investing" which is used as text book
in several universities
Shortly after the World War Mr. Clay
was connected with the Federal Re-
serve Bank of New York and wrote
many of the financial reviews. He has
often made valuations of securities in
tax cases, the most important case Of
the kind being in connection with Ford
Motor stock. On this stock he placed a
Government, after six weeks of hearings
on scores OF other valuations, placed the
worth of the stock at $4,000.
Opens Board Room for Women.
The Washington Office of E. A. Pierce
& Co. has opened a board room for
woman customers, according to an
rlouncement by Manager Thomas w.
Brahany. The new service is to- be
under the personal direction of Mrs.
Amber H. Cardwell, widow Of Capt.
Samuel G. Cardwell, u. S. A. Mrs.
Cardwell has had much experience in
the brokerage and securities field in
Washington. She has a wide acqua!nt-
ance in Army and Navy circles, having
served as postmistresS at Fortress Mon
roe during the World War.
Better Street Cars Sought.
Ofhcials OF the local street car COM
panies are much interested in the
move started in New York by leading
electric railway companies of the
United States to employ a $500 900
research fund in an endeavor to de-
velop the best possible type of cars for
use in all cities. Engineers are en-
gagged in collecting analytical data and
the assembly of apparatus required in
starting the work. It is planned TO
take samples of the most modern cleo
trio cars used in various parts of the
United States to New YORK for study
and analysis.
The outstanding advantages Of each
car will be noted with the object Of
bringing about smoother riding, more
comfort, safety, attractive appearance,
quietness in operation and light weight.
The results will be available to all
manufacturers Of street cars. The work
is being directed by G. F. Hirshfield,
well known engineer, who has long
been closely connected with the cleo
trio railway business.
Operating companies representing so
per cent of the electric railway indus
try are helping to bear the cost 1t
is believed that much can be done
toward noise reduction, bette lighting,
more comforta bic seats. smoother stop
ping and starting, and that the cost
Of the work will not be too heavy
when divided among so many different
companies.
TOday's Trading On Exchange.
Commercial National Bank Stock to
the extent Of 80 shares, at pit, on the
Washington Stock Exchange today, the
only bank stock out Columbia sand &,
Gravel lost part Of its recent gains today
when it closed az 95 on 30-share turn
over
Lanston reglstered-i06. Potomac Elec-
trio Power y per cent preferred closed
at ll0A. and so shares Of National
Mortgage g. Investment preferred
changed hands at As. Traction, Wash
ington Gas, Railway 81 Electric, George
town Gas and National Press Building
bonds were in good demand al recent
prices.
The public speaking class Of Washing
ton Chapter, American Institute Of
Banking, with hold an elimination public
speaking contest in the chapter rooms
vxalp
from that class viii be selected To COM
pete for the silver trophy donated by
Wilmer j. Waller, vice president OF the
Federal American National Bank q
Trust Co Thirteen members OF the
class, who have studied under DR.
George Farnham during the present
school year, VIII participate in the
contest.
Heard in Financial District.
The Federsl-American Co. has de-
clared the regular quarterly dividend OF
$50 a share on the preferred stock and
80 cents on the no-par common stock
beth payable on April l.
B. Gwynn Dent, an assistant cashier
Of the Riggs National Bank and in
charge of the foreign department, has
returned to his desk after months
illness. He suffered very severe at
tack Of grip.
Z. z. Mountjoy, Washington repre-
sentative of the American Bankers AS
ISOLATION, is author Of an article on thC
New Form Veterans Note appearing
in this months American Bankers AS.
ISOLATION Journal In the same ISSUE
Rome c Stephenson makes stronG
plea for better treatment Of American
railroads.
A. Preston Osteen has been appointed
representative in Maryland, Delaware
and the District Of Columbia Of Ros
Beason a. Co., Inc, Eastern wholesale
syndicate managers for Corporate Trus
ShareA