Evening star., 1931-05-12

lar sales were be-
low last year, the W. w. Magee.
volume of goods
was much greater, as commodity prices
are approximately Is per cent lower
this wear than during the corresponding
period year ago.
w. w. Magee on Reserve Board
wavland w. Magee has been selected
nv President Hoover as the FARMER
,nenober of the Federal Reserve Board
70 succeed the late Edward H. Cunning.
ham, who rendered long ana einclenl
service to the Government. MI. Magee
is resident OF Bennington, Nepr., ano
is afiliated with a number OF agrl-
cultural organizations within the DOT
ders Of his home State.
THE Federal Reserve Boards condl-
%ion statement of weekly reporting
member banks in leading cities on May
4 shows decreases for the week OF SIZE,
900 900 in loans and investments, 500,
600 600 in net demand deposlts aIuu y
S74 900 900 in Government depoSts' ano
an increase Of $l2,OOo'ooO III 'liile
deposits. s eAo .
c()0 600 at reporting banks in the NeW
York district, and declined $SS,0oO'OVWo ~
In the Chicago district, 100000 IN
the Boston district, S6,000,00O IN tne
san Francisco district and $l6,OOO,OOU
at all reporting banks: All oCner
loans declined S38.000,000 In the new
York district, $4,000, ,O00 IN tne MIL Nj.
TON district and $55 100000 at all re.
porting banks, and increased $o'OUV,OOV
In the Chicago district.
Veteran Insurance Man HOnOred.
Edwin P. Parker, for 20 years with
the washington of1ce OF the Mutusi
Reneft Life Insurance Co. OF Newark,
N I was paid a glowing tribute at a
Testimonial luncheon yesterday at the
Hamilton Hotel The feature of the
occasion was the presentation OF IL nIe
Insurance policies totaling over $12O.
600 sold by his associates, and on which
Mr.. Parker is to have the commission
The policies, ranging from $1,000
to $4,000 were delivered TO Mr. Far-
ker by L. E. JefferieS, vice president
and counsel of the Southern Railway.
Mr.. Jeffries and s. Parker Gilbert,
New York economist, former Assistant
Secretary of the Treasury and allied
reparations commissioners, hold the two
largest. The policies were accom-
panied by a suitably bound and en-
graved letter expressing the well wishes
of the policy -holders, the agents VINO
EOlQ IlGIu hllu UCdA lib bAA-A DA6A~NSS@
CONCENTRATIONS were presented by
John r. Hardin, company president;
Dr.. Harry M. kaufman, local medical
examiner; Dwight T.. Scott, represent
ing the local agents; John II. Snyder,
president of the District Underwriters
Association; Dr. William r. Ward,
national medical director, and II. Law
renee Choate, local general agent OF
the company. DR.. Ward presented Mr..
Parker with a gold "V" which is the
company's recognition Of 20 years SER
vice.
To all the tributes, Mr.. Parker re-
sponded in a most modest manner. Mr..
Snyder, 80 years with the Mutual Bene-
fit Co., is his only senior in the local
Office Mr.. Parker was born in Ports
mouth, Va, rs years ago. He entered
the insurance field 35 years ago, COM
ing to Washington in 1900. He has
written an amazing number Of big
policies on prominent people. During
his service he has seen his companys
assets expand from $l57,0o0,oo0 TO
$500, 100000.
Woman Executives to Meet.
Seventy-five woman bank executives
will attend the Spring conference Of
the Midatlantic Division of the Asso-
citation of Bank Women, which viii be
held in the auditorium of the New
York Federal Reserve Bank May IS.
This division, which includes the States
of New York, New Jersey, Pennsylvania,
Maryland, Delaware and the District
of Columbia, has extended an invita-
tion to members Of the New England
division and to members of other divi-
Sions Of the association who may be In
the city to attend the conference.
The days program has been arranged
by a committee of which Miss e. Nora
Gibbons of the Chase National Bank
is chairman. Miss Mary E. Stetson,
vice president of the division, will
preside. Three banks in Lower Man
haitian will entertain the woman ex-
ecutives at luncheon in three groups
The banks are Bank Of Manhattan
Trust Co., with Miss Anne Houston
Sadler, assistant trust ofhcer, hostess
the Central Hanover Bank 81 Trust Co.,
with Miss Nina NJ. Bruere, assistant
secretary, hostess, and the Chase Ma
tional Bank, with Miss Mary Vail An
dress. assistant cashier, entertaining.
DR.. Benjamin M. Anderson, tr., econ
omist of the Chase National Bank, Will
speak on The Financial Situation" at
the afternoon session. The bank women
IN the evening will attend perform
ance of "As Husbands Co. at the John
Golden Theater.
Today's Trading on Exchange.
Capital Traction stock again sold al
"a in small lot transfers on the Wash
ington Stock Exchange today.
Washington Gas Light stock sold u
the extent Of 35 shares at l16, half
point under the last sale.
Riggs National Bank stock came out
again today, 10 shares selling at 37l
and 10 more at $40. Several transac-
tions in other issues took place around
recent levels.
Bond trading was confined to Poto-
mac Electric Power 6s, Washington
Railway g. Electric As and Washington
Gas Light IS, series B, at prevailing
prices.
Financial District Comment.
Prominent bankers from all parts Of
the country are attending the Spring
meeting of the board OF governors oi
the Investment Bankers Association o.
America, now in session ct White Sui
phur, w. Va.
The United States Treasury Is offer
ing 500, ,000, 900 in Treasury bills in two
series, $50,000,000 to be dated May II
and mature in so days and the re-
mainder TO be dated the same and ma
ture in 81 days.
At the recent meeting Of the Lans
ton Monotype Co. in Alexandria, Va.
A. z. Pagola was elected vice presiden
in charge Of the export department anC
Frank J. Roderick vice president II
charge Of the Barrett Adding Machine
division.
Arrangements are completed for thu
annual election of officers Of Wash
ington Chapter, American Institute o
Banking. the polls opening at 4:3t
O'Clock Thursday afternoon at bankers
Headquarters and closing at in thu
evening. Details will soon be announceC
for the entertainment here Of a yer,
large delegation Of out -of-town banker