Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-16
AMERICAN BUILDING
OPENS NEW HOME
Many Visit Spacious Quar-
tiers and Praise Initiative
of Association.
BY EDWARD c. STONE.

which was thrown open to the public at
800 Pennsylvania avenue southeast for
the flrst time today. The public is
invited to visit the new offices again
tomorrow, officials having planned open
house for two days. The new quarters
appeared to fine advantage today, a
great many favorable comments being
received. The building is a distinct
addition to the business structures in
that part of the city and exceptionally
well arranged for the conducting OF the
company's business.
Many officers and directors of the
association were present today to welE
come visitors, the company's oficial
roster including William A. Hettinger,
president: George w. Slater, vice presi-
dent; Charles H. Kindle, secretary; Guy
M. Nicely, treasurer; Francis e. Smith,
Charles Kattelman, Julius Eglof, John
E. Mergner, Clarence F. Donohoe, Chat
ham NJ. Towers. Thomas S. Sergeon
and Charles A. Rossiter, directors.
Insurance Leader Coming Here.
Leon Gilbert Simon, president of the
New York City Life Underwriters ASSo-
citation and an agent of the Equitable
Life, will address the local UnderWriters
Association next Thursday noon, at the
Hay-AdamS House, according TO an
nouncement by John H. Snyder, the
president Mr.. Simon has written sew
erai text books on insurance, is large
producer himself and is an unusually
good speaker. President Snyder believes
the March meeting will be one OF the
best OF the year and that the head Of
the New York underwriters organ
ization will have great deal Of interest
to say to the Washington association.
New Credit Agreement Reached.
An agreement between the National
Association of Credit Men and the Asso-
ciacion Nacional de Credito Of Cuba,
whereby all credit information gathered
by the Cuban association is made avail
able to American firms selling in the
Cuban market was announced today by
William s. Swingle, director Of the for
eign department of the National ASSo-
citation of Credit Men, through the
Washington ONCE.
Under the agreement, American firms
may be admitted to full membership in
the Cuban association a privilege which
has hitherto been restricted to firms
actually resident in Cuba. Swingle said.
This new development is a signif1-
cant one for our trade with Cuba" he
said. cit makes available to the Amer
lean exporter detailed credit informa-
ton on approximately $4,000 buyers in
the Cuban market The data includes
both ledger experience and antecedent
information gathered by the Cuban
association during the several years that
1t has been functioning."
Spring Bank Call Due Soon.
The usual Spring bank call issued by
the controller of the currency, John w.
Pole, is expected to come along on some
date during the latter part Of March or
very early in April.
Much interest is already being mani
tested as what the call will show re-
garding bank deposits in Washington.
Since the WAN Street break Of october
and November, 1929, savings deposits in
Washington have been growing steadily.
The marked swing toward thrift has
caused wide satisfaction among Wash
ington bankers, although interest rates
have not been quite so pleasing.
Payment Of income taxes viii pull
down local bank deposits somewhat, but
it is believed that the deposit totals viii
be satisfactory. Reports from New York
today stated that savings depcsts IN
that State in February did not snow
the gains that they did In January.
Perhaps that is due to the fact that
there Is no steady Government pay roll
to be depended upon as Is the case In
washington.
Virginian Gets /. c. c. Permit.
Inc NuRuldn RAILWAY 4loo OCCAA
authorized by the Interstate Commerce
Commission to operate over 81 miles OF
the Kanawna & Michigan Railroad, q
New York Central leased road, between
Deepwater Bridge and Charleston, w.
Va, in connection with the operation OF
through passenger trains between the
latter city and Princeton and Ro-
snoke, Va.
The bridge was recently constructed
al ennFf rail QYfang1On TO
afford a connection between the Viz
gilman and the New York Central afh-
late which opened a Western outlet
for coal originating on the Virginian
and conversely, puts the New York
Central into tidewater at Norfolk.
Railway Common Sells at AIS.
Washington Railway & Electric COM
mon stock appeared on the local Ex-
change board today for the first time in
many weeks, when four shares sold at
AIS a share.
The rest of the trading was confined
to bonds. Capital Traction IS moved
at 811s and 81.
Washington Railway g. Electric IS
came out at 833z, and Washington Gas
6s, Series A, sold at 1919
After call several additional sales in
Capital Traction SIS were recorded, the
market In these bonds closing at 51A,
nlRneT JIlan the opening
Heard in Financial District.
I. A. Fleming, "the grand old man of
financial journalism" reached his home
in Washington yesterday after passing
the Winter in Florida, at Hotel India
lantic, in Melbourne. Mr. Fleming Is
in good health and will be glad to see
his friends again. He was considerably
disappointed in the lack Of sunshine in
t,nFhfrO lilo KYNrYrI1
cold weather having been experienced
at the Winter resort in many years.
The Pittsburgh & West Virginia Rail-
way has asked Interstate Commece
Commissions approval 10 issue $4,700,-
900 az per cent short-term note to be
secured by pledging first mortgage AZ
per cent series bonds which it was re-
Gently authorized to issue.
Maryland Commercial Bankers, Inc,
has declared the regular semi-annual
dividend of IS cents on the preferred
stock, payable April IS to stock CT rec
ord March 81
Ohcials of Sears, Roebuck & Co. de-
MED reports printed in Chicago that
the company IS planning to change the
location of It's retail stores from the
outlying districts of various cities to
their central shopping districts.
The Federal Trade Commission has
set March 81 as the date on which II
will hear the representatives OF the
petroleum industry who have requested
that their marketing code be not
changed.
The Maryland Trust Co. has declared
the regular quarterly dividend OF 40
cents, payable March 81 TO stock Of rec
ord March 20.
Walter S. Marvin, who retired as a
partner Of Hempbill, Noyes g. Co. In
1929 to devote his time TO aviation. has
returned to Wall Street and is being
admitted to general partnership in the