Evening star., 1932-09-08

market for the Gas -
bonds closed with
81 bid apd 98 ask
ed. The1ast previ-
Gus sales in this
issue took place J. william Roberts.
at 80.
washington Gas Light SIS figured in
the first transaction of the session,
$1,000 selling at 1919 and $500 more
at 1OO34. Washington Gas 6s. series A,
also appeared on the board, baby bond
selling at 98i2.
The remaining trading was confined
to stocks Potomac Electric Power 6 per
cent preferred moved at 107l2. The
same corporations 51s per cent pre-
ferred came out at l03 and closed
at 1925 on tournover of so shares.
Roberts Joins Booker Staff.
Announcement was made today that
j. william Roberts has become aSso-
ciated with Y. E. Booker & Co., invest
ment bankers as a member OF their
sales staff. Mr. Roberts has had wide
experience in banking and finance and
for the past three years has been
with the Washington office of E. H.
Rollins & Sons. Inc. He began his
financial career in 1912 with the Home
Savings branch of the American Secur-
ployed for a number of years and
worked his way up through the various
departments. He was later selected
cashier of the Central Savings Bank
and left that institution to become
manager of the K street branch of
the Security Savings & Commercial
Bank where he remained until he en-
tered the investment banking field some
three years ago.
Mr.. Roberts is a native of Prince
Georges County, Maryland, and was
schools.
Time and Savings Deposits.
Time deposits in 40 regularly report
ing member banks in the fifth Federal
Reserve district and aggregate deposits
in IL mutual savings banks In Balti-
more totaled $440, ,607, ,538 at the end of
July, 1892, q slightly lower figure than
$442, 2,717,818 at the end of June this
year and materially less than $473, ,216,-
400 year ago.
In July and the first half of August
some Improvement was reported in en-
ployment conditions in the fifth Fed
eral Reserve district. A considerable
number of industrial plants took on
additional workers, and one large cor
poration announced the restoration of
wages to the level from which cut
was made last Winter.
During the four weeks ended August
10 this year, aggregate debts to indi-
vidual, firm and corporation accounts
in the reporting cities totaled s764,-
$4,000, a decrease of $64, ,728,000, or 7.8
per cent, under aggregate debts in the
preceding four weeks, ended July 13,
1882, every city on the reporting list
Do cIn
for the more recent period. A decline
at this time Is seasonal, due chiefly
to large semi-annual and quarterly pay
ments occurring in the earlier period,
around July l.
Last year the decline between the
two periods was 8.4 per cent, somewhat
more than the 78 per cent decrease
this year. Baltimore showed an in
crease of So per cent, according to the
Richmond Reserve Bank.
Peoples Drug Dividends Voted.
Directors of Peoples Drug Stores. Inc.
recently voted the regular quarterly
dividend of $1.62 on the company's
preferred stock payable September Is
to stock of record September /. The
usual 25 cent dividend on the COM
pany's common stock was also declared,
this being payable October l to stock
holders of record September 8. The
preferred stock is listed on the Wash
ington Exchange, the last sale being
made at 88, while the common is on
the New York Exchange.
Chase National Bank has declared
the regular quarterly dividend of SO
cents, payable October to stock OF
record September Is.
Guaranty Trust Co. has declared the
regular quarterly dividend of SIS pay
able September 80 to stock of record
September 9.
Continental Bank & Trust Co. has
declared the regular quarterly diU-
dend of 80 cents, payable October !
to stock Of record September 20.
Merchants & Miners Transportation
Co. declared the regular quarterly divi-
deLd of 37l2 cents. payable September
80 to stock of record September IS.
Totten to Speak on Values.
Frank M Totten, vice president of
the Chase National Bank, will speak
at the institute dinner tonight at the
Raleigh on the advantages to be ob-
tanned through membership in the in
stitute from the standpoint of education
in banking and from the contacts which
may be made. The former national
president will be the chief speaker.
1tOpcIt bdScyJ VI lIlC
Educational Committee, will preside.
About 100 are expected. as the officers,
board of governors, consuls and men,
bers of the faculty are invited. Richard
A. Norris, president of Washington
Chapter, will outline the educational
courses, StreSSing the inauguration of
the new course in income tax law and
procedure. Robert E. Lee. as chairman
of the Membership Committee will tell
of the development of this committees
plans and the results to date, while
Paul J. Seltzer, chief consul, will ex-
plain the work Of the consuls in
classes among the personnels of the
various banks.
c. H. Pope, vice president of Munsey
Trust Co. and president of the District
of Columbia Bankers Association, will
present the greetings of the association.
Heard in Financial District.
James Trimble. vice president of the
National Bank of Washington, is back
at his desk after Being called to Ken
lucky by the death of his oldest son.
Members of Washington Bond Clut
are mating preparations for the open
ing Of the Fall season.
Bank clearingS, as reported to Brad
streets Weekly, by 1913 cities through
out the United states, increased Sllgnt'
ly during the month of August, as the
volume of trade showed small pickup
Clearings in 95 selected cities outside
New York, showed decided decrease
however. and when reduced to daily
average to make them strictly COM
parable with other months, registered
q decline Of 14.6 per cent from the pre-
ceding month.
The last week of August saw "an as.
founding drop in business iailures" ac'
cording to Bradstreet's Weekly. The!
fell off sharply from SGT in the previous
week to ABS for the week ending Sep
tember /, the lowest number reported
for any week since the last Of Novem
Der, 1891.