Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-08

dent OF the MUM NJ NJ
sew Trust Co., as
chairman: Law M
renee A. Slaughter,
vice president Of Y. E. Booker.
the Commercial
National Bank, and T. Stanley Holland
trust officer of the American Security
3, trust Co.. has a fine program we'll
under way. In addition to other fea-
lures being arranged to follow the din
ner, an outline of the plans for the
annual convention to be held III June
at Hot Springs, Va, will be presented
by F. p. H. SiddonS, chairman OF the
General Committee.
Details of the country club program
are not quite complete. 1t will be re-
called that two brilliant speeches were
made last year, one by Senator Pat
harrison ard the other by Attorney
Garter B. Keene 1t is possible that
only one speaker will be on the program
this year. an entertainer taking the
place of the second one.
Plans Include Golf Contest.
The usual golf tournament will take
Mace during the afternoon for the
Robert v. Fleming Cup, the winner to
hold the cup in his possession during
the coming year. The golfer turning
In the poorest score will also be re-
warded for going around the course but
At is doubtful If he gets cup.
The attendance at the Spring meet
eng has grown steadily ever since such
an affair started during the admin.
istration of Victor B. Deyber. Chair
man Pope said today that he doubted
if Mr.. Deyber had ever been given SUI
ficient credit for inaugurating such
successful plan.
When Mr.. Deyber was president of
the association he felt that some way
of establishing personal contacts pc
tween bankers, who are constantly IN
telephone communication, should be
established Much closer personal
friendships have resulted Bankers who
cannot attend the out-of-town conven-
ton find this meeting unusually oppor-
tune for establishing and renewing
valued contacts. There are always sew
eral distinguished guests present and
on account of the limited space at the
club the reservations have to be con-
fined largely TO senior bank officials.
Booker New Exchange Secretary.
Y. E. Booker has assumed his new
duties as secretary of the Washington
stock Exchange, following his election
at a recent special meeting called on
account of the passing of George o.
watson. At that meeting c. j. Cock
eler, who had been secretary for seven
years, was elected vice president and
Mr. Booker elected to I'LL the secre-
taryship.
Mr.. Booker has been active in the
local financial district for many years.
He is a native of Amelia County, Va.
and came to Washington in 1908. He
engaged in newspaper work and became
financial editor Of the Washington
Times and later served the Washington
Post in the same capacity. He left the
newspaper profession in 1921 TO enter
the investment banking field.
For four years he was a partner in
Crane, Paris e. Co., retiring from that
firm in July. 1926 to head an investment
house of his own, with Geoge Hewitt
Myers as partner Later, in 1929, Harry
w Finney and T. Baker Robinson were
taken into the firm as partners.
Mr.. Booker has already served the
Stock Exchange as a member Of the
Board of Governors. He is a director in
the D, G. Paper Co, has other business
Affiliations, and is a member of the In
vestment Bankers Association Of
America.
Security Loans Drop 10000, 900.
Federal Reserve Boards condition
statement of weekly reporting member
pdl1hS III 4CdO4AlE A4IltlS D4l APAl IL oAiOWo
decreases for the week of ST3, 600, 600
in loans and investments, $4,000 600
In Government deposits and $6,000,000
in borrowings from Federal Reserve
bank, and increases Of $50 600 900 in
net demand deposits and S30,000,000 in
time deposits.
Loans on securities declined S62 0n0,-
600 at reporting member banks in the
New York district. $4,000. 900 in the
Tlaf1a ~ s,,4 10
delphia district and s80,o0O.000 at all
reporting banks, and increased $4,000
600 in the Cleveland district.
An other" loans increased $4,000 900
in the Chicago district, S5,000,000 each
in the Boston and Philadelphia stricts
and $50 100000 at all reporting banks,
and declined $4,000 900 in the New York
district.
Assistant Secretary Elected.
j. Clarence WEIGH was elected assistant
secretary of the Corcoran Fire Irsur-
ance Co at the annual meeting of stock
holders Monday. H, succeeds James H
Pugh, who has resigned TO enter the
practice of law.
All other officers and directors were
reelected as follows: Frank McClel-
land president; Robert D. Weaver. vice
president; F. H. Ridgway. secretary:
Albert T. Coumbe, Watson F. Clark,
3. Lowndes Jackson, Charles z Marsh
William l.. Miller, Walter S. Pratt. jr.
F. H Ridgway. Robert D. Weaver
Frank McCleland, directors.
A. e. r. Earns s13.e6 Share.
Thu Great Atlantic {: Pacific Tea
Co, increased both sel-s and prcat IN
the fiscal yepr ended February &c. RIet
profit was 5%o.7E2.775, ecuo' t. S13.86
a common share. sgainSt S26,2i9 631, or
SHIT share in the previous wear.
Sales exceeded the billioa-doll mark
for the second consec utiYe fiscal D Rod,
totsling s1.06j .8G6,835. a gain of Si2,-
1l4.003. On each dollar Of sales a ret
profit OF 2.63 cents was realized, the
best showing since 1924 when the mar
gin was 3.l3 cents on the dollar.
Lively Trading on Exchange.
Washington Railway & Electric pre-
fer-ed commanded considerable at.en-
ton IN lively scssion t-Sav OF the
Washington Stock Exchange. The ssoel,
sold at 93l2 and the days turnover
reached 1855 shares, ore book ct 50
in the transactions.
Capital Traction opened at 3z4 and
clo-ed at "a fiat on a turnover CT only
80 shares. Potomac Electric Power ~
per cent preferred came out at ll014.
Peoples Drug Stores preferred opened
at 1903 and closed at 1929 on 49,
share transfer. One hundred shares
of Real Estate Mortgage & Investment
preferred sold at 4Ts.
Carpet Corporation was active. open
ing at 23l2 and closing at 237s during
the session l25 shares changed hands
Ten shares Of Union Trust Co. stock
moved at 2oS. Federal-Annerican Co
common came out at 1914 and lC
shares Of Norfolk & Washington Steam
beat Co. sold at 1885,
Local bonds were in moderate de-