Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-05

his administration ~
during a period ~
which has pre- #
scented an unusual sssSSs*ss@ ~ r. M
number of difficult mxGAz N
problems requiring Lanier p. McLachIen
careful conSidera-
tion. All were handled with a view
70 strengthening the association and
improving banking conditions in WASH
ington. he said.
At the conclusion of his remarks, Mr..
McLachlen presented each member
present with an attractive gold paper
cutter upon which was engraved the
name of the association official, the
date and the name Of the retiring
president. The clever souvenir brought
forth hearty applause.
During the luncheon the coming con-
vention was the subject of much con-
versation. On account of the depres-
sion the attendance will not be as large
as in boom years, but the business and
pleasure programs assure a most de-
lightful gathering, perhaps the most
enjoyable yet held. Reservations are
coming in steadily and every detail for
the comfort of the delegates and guests
has already been arranged AS In past
years, many of the city's foremost
bankers will be in attendance.
Atwood to Address Bankers.
Albert W. Atwood, financial writer
and economist has been secured as a
speaker at the Hot Springs convention.
He makes his home in Washington and
is nationally known as writer for the
Saturday Evening Post. His subject
will be The Reform of Banking and
business"
For five years he was on the faculty
of the School of Commerce, Accounts
ND ~ Tt, i&,,
where he gave course in stock eX-
changes and stock speculation, and later
taught course in financial journalism
for, six years at Columbia University.
From 1906 to 1912 Mr.. Atwood was
financial editor of the New York Press,
and from 1903 to 1905 he was a report
er on the old morning Sun Of New
York.
He graduated from Amherst College
In 1903 and holds honorary degrees
from Amherst and Princeton Univer-
sity. His books include How to Get
Ahead" "Putnam's Investment and
Handbook" Stock Exchange and Spec
ulat,on" and the Mind of the Mil
lonaire"
Fifth District Building Permits.
According to the latest report of the
Federal Reserve Bank of Richmond,
building permits issued during April in
80 fifth district cities compared very
unfavorably with the volume of per-
miE issued in April last year, Balti-
more being the only city to make
really creditable showing for the month,
and Baltimore's figures were due in
large part to efforts to obtain permits
before new coming ordinance went
into effect on May /. Permits for
new construction issued in the 80 cities
last month numbered 1882, CT which
1879 were issued in Baltimore Esti-
mated valuation figures for new work
totaled S8,712, 743 last month, $5,379,-
$50 of which was reported from Balti-
more.
Only three of the 80 reporting cities
showed higher total valuation figures
forn all classes of work in April, 1881,
than in April, 1880, these being Balti-
more, Richmond and Rock Hill, S. c.
RichmondS increase was due to low
figures in April, 1880, rather than to
high figures last month. Rock Hills
increase was chiefly due to an unusual
amount of alteration and repair work
this year.
Contracts actually awarded for con-
struction work in the fifth district in
April 1881, totaled $21936, 900, accord
ing to figures collected by the F. w.
Dodge Corporation. This figure shows
a decrease of AT per cent below awards
totaling S40,971 1874 in April, 1880. Cen
tracts for residential types CT construc-
ton last month totaled $7,434, $40, or
approximately "a per cent of the whole,
compared with about % per cent of
the April 1880, awards going for resi-
dental work.
d. c. Stock Market Active.
A good variety CT local securities ap-
peared on the board at the Washington
Stock Exchange as business closed for
the week.
Capital Traction came out at 35%,
same as yesterdays closing figure.
Merchants Transfer & Storage prefer
red figured in a small lot sale at 92
while 100 shares of National Mortgage
& Investment preferred changed hands
at AS.
Mergenthaler Linotype sold ex-divi-
dend at TIE and Lanstcn Monctype
also appeared on the board, selling at
90. Potomac Electric Power 51a per
cent preferred changed hands at 11014.
Two bank stocks were traded in dur
ing. the session, five shares of CONNER
cial National moving at 2l5 and 10
shares of Riggs National selling at
37Ola.
During the session Washington Elec-
trio, Railway & Electric preferred regis
tered 9812. washington Gas bonds
were in good demand at recent levels
and Capital Traction IS also drew at
tention.
The unlisted securities were called OF
as usual ON Friday, but comparatively
few changes were noted in quotations.
The bid on Washington Base Ball Stock
was advanced from 60 to 65 and Ma
tional Press Building f1rstS 5l2s now
stand at 40 bid and So asked.
!: Cleaned in Financial District.
Local bankers predicted heavy over
subscription for the Treasury 31a per
cent bond Offering Of S800,000,0 900, but
the total of more than $4,000 100000
caused considerable surprise. That, too,
in spite of the fact that the interest
rate represents a new low figure In
Treasury long term financing.
Stockholders of the Oriental Building
Oldest in the city, held their annual
meeting yesterday and reelected all
officers and directors. They are the
following: Charles H. Bauman, presi-
dent; Henry E. Deckman, secretary;
Charles W. Schafer, treasurer; Carl
Haneke, @. H. Schultze, John j. Kolb,
William F. Ochsenreiter, August G.
Hermann, Chaplin B. Bauman, Charles
Schafer, Thomas B. Young, Benjamin
H. Parker, directors.
The McCrory Stores Corporation re-
ports May sales at 3,411,679, against
SO $3.50 in May a year ago, a de-
crease for the month of 40 per cent.
For the first five months of 1881 sales
reached $16,344,855, compared with
S16,198,525 in the same period year