Evening star., 1931-12-14
BANCROFT TO TALK
BEFORE BOND CLUB
Financial Writer on Program
at Luncheon Next
Thursday.
BY EDWARD c. STONE.

THURSDAY. at the Hotel Carlton, Mr.
Bancroft is president of the Financial
Press Companies of America, whose
publications include the Wall Street
journal, the Boston News Bureau the
Philadelphia Financial Journal, Bar
ron's Weekly, the DoW-Jones News
Service and the Pacific Coast Division
Of the Wall Street Journal. His or
ganizati0n. specializing on national and
international financial news. blankets
the United states and covers lmp9r-
tant sections Of foreign territory.
Bond men. including representatives
of Stock Exchange and underwriting
houses. appreciate the essential I'M
portance Of absolute accuracy in the
Towering" of financial n"Ws. Since
M. Bancroft is tho man behind the
guns in Americas largest organization
engaged in doing iUSt this thing. there
is special and very keen anticipation
Of The inside story he Will tell the MEM
bers OF the Bond Club and their lunch
con guests
The monthly luncheon meetings Of the
Bond Club OF Washington are watched
closely by Washington ruanJlal Organl-
2atlONS. because the list OF speakers Is
chosen with keen sense OF tmeilneSS.
At last months session. the examination
was given an inside picture of the rail-
way situation by Dr. Julius H Parmalce,
director of the Bureau Of Railway
Economies. Confidential reports OF his :,
statement of facts and his forecasts of |
| the future for American railway CorpO-
Irations were carried over private wires
! to the biggest banking institutions in
! the Nation.
Mr.. Bancroft stepped into the shoes
| Of the late Clarence w. Barron,
COloSsus in his field. and is carrying on
kn an enlarged way, adjusted to modern
markets. the work conceived and
Initiated by Barron. with whose publ
,atiOns he has been associated for a
quarter Of a century. He is lawyer !
S we'll as an editor and business eX-
bert, and Harvard graduate.
Jacobs Transfer Votes Dividends.
The board of directors of the Jacobs
d transfer Co. Inc, lib Florida avenue |
a [orthcaSt have declared dividend of |
per cent the same to be paid by check |
Or December Is while similar dlvl-
d End has also been declared on the |
S ocE OF the Jacobs Transfer Co OF |
81 Valtmore The directors also voted an
in crease Of 10 per cent in pay for all
of the Baltimore company.
VTho company reports a profitable |
ytar. which President w E Humphreys
Sd vs. is more due to economic operation
altd by care with the budget than by
vtlumc of business. which did not quite
edual business il 1880. The stockhold-
e1s ere practically the same in both
companies. The officers include:
wv f. Humphreys, president: James
L. Evans, FIST vice president; Steuart
F Mohfelt, ir.; second vice president;
Linton w. Mason. secretary and treas
u1cr and c. A GuCnthnor, Gcneral
mtnaCer. these mon, together with John
=. Howard president Of the Seventh
Street Savings Bank making up the
Board Of Directors.
More Banks Reopen Doors.
A decrease in the rate Of bank clos
ings was registered again in the daily
reports of the American Banker during
the week lust past. together with an in
crease in the number of institutions re-
opening their doors.
Thirty banks failed in this week. as
compared with 81 which went out of
business the preceding week. SIX
banks two more than last week, re-
opened their doors.
The number Of banks which have
suspended business in the country since
the first of the year now totals, 1856,
with deposit liabilities approXimating
81 585 100000. New York State with
five closings and Missouri with four
we're the Two hardest hit States the
past week.
United States Savings Dividend.
The directors of the United States
Savings Bank, Fourteenth and U
streets. have Just declared their regular
quarterly dividend Of ~ per cent pay
able December 81. 1881.
The effect of the seasonal StlmulOuS
usually observed III business at this
time of the year is evident to some de-
gree in the monthly survey Of Collec-
tionS and sales in 1l6 Of the leading
trade CentCrs of the country, as pub
llshed today in the December issue Of
Credit and Finincial Management, the
official publication of the National AS
sociation of Credit Men.
The Strengthening in both sales and
collections in these business ccntcrs
continues the slightly modified upward
trend in evidence since the carly Fall,
with both collections and sales touch
ing new levels, in the aggregate, for
recent months.
After three consecutive months with
sales lowering at GO per cent in the
fair" column. this months survey re-
veaIs sales to be reported as being
fair by 65 per cent of the CORE
spondentS in tie cities surveyed. COL
lectionS, after Increasing per cent IN
November in the fair column, have
risen an additional per cent this
month, approximately 70 per cent of
the correspondents noting fair col
lection conditions in Their cities.
Today's Trading on Exchange.
The week opened on the Washing
ton Stock Exchange today rather
quietly. the first transaction being the
sale Of 10 shares Of Capital Traction
stock at q. the same as the final quo
taton last week
Forty shares of National Mortgage e.
Investment preferred came out on the
board 1T 81. same as the last previous
sale Five shares of Potomac Electric
Power per cent preferred stock moved
at III. while 10 shares Of TIE corpora
tionS ST. Der cent preferred sold at l06.
The opening bond sale was a $1,000
transfer Of Potomac Electric ConSoH-
dated SIS at l011g Washington Gas IS,
Series A, figured in several small sales
at par. Emerson's Bromo-Selzer, Co.
lumbia Sand e. Gravel preferred and
Union Trust Co. stock have been added
to the list now being quoted eX-divi-
dend on the local board.
Approximately S8000,000 in interest
and dividends will be paid here Janu-
ary by the State and city govern
mcntS Richmond banks, industries and
corporations, according to Henry c. S.
Patterson, secretary of the Richmond
Stock Exchange.
Secretary Mellon announces that a
total of Sl784 068 900 has been received
for the three offerings of securities ag-
gregating $1,000 OO0 900. dated Deem
Der Is, The subscriptions for the $780,
100000 81, per cent Treasury l2-month
notes aggregated S703,703,400. OF
these, about S225 100000 represented
exchange subscriptions for maturing
3l2 per cent notes.
The subscriptions for the $400,000 900
of per cert nine-month certificates
aggregated $3.50. $4,000 and the sub
scriptions for the s3OOO00 600 %. per
cent six-month certificates totaled