Evening star., 1932-08-14
Bonds and Stocks Much More
Active Since Recent Up
turn in New York.
BETTER STREET CAR NET
FORECAST FOR AUGUST
Junior Bankers Appointed on Edu
cational Committee of Local
Institute Chapter.
BY EDWARD C. STONE.

bonQS on the washington Stock EX-
change have been given much more at
tention during the past few days. The
senior issues were in greater demand
during the past week than they have
been in several months, the largest
bond day reaching $28,500 turnover
Members Of the exchange aScribed the
marked revival of interest in local Sc
curities as partly due to the much
greater strength displayed by the New
York bond market.
The sudden and amazing advance in
the New York Stock Exchange has also
stirred up the Stagnant interest in all
classes Of securities. This new spirit
has been felt in the stock division of
the local market although buying has
not equalled that in the bond depart
ment. Quotations on both stocks and
bonds have been well maintained in
recent District of Columbia Exchange
sessions.
BY far the most interesting local re-
port issued during the week came from
the Capital Traction Co. For the first
time this year, as well as for many
years past. it revealed a deficit Of
slightly over $4,000 against net profit
of $500 in July, 1881. While profits
have been badly dented during the first
seven months of the present year. net
income to August totaled S58, $3.50 SO SO
that the 81 dividend rate appears to be
covered
July proved to be an unusually dull
business month. August is expected to
present an upturn in street car traffic
and earnings. July expenditures were
increased by the work Of removing the
eN1d cfroaf 20 trop pH in tho yinipifU of
Twenty-Sixth and G streets northwest,
which are no longer needed on account
Of bus service which the company
1naugurated months ago.
The most important dividend an
nouncement posted on the exchange
bulletin board this week came from the
Lanston Monotype Co., the regular
quarterly $1.50 disbursement being de-
clared. The stock is very widely held in
Washington.
Institute Committee Completed.
The Educational Committee of
Washington Chapter, American Insti-
tute of Banking. Of which Robert H.
Lacey, cashier OF the Columbia National
Bank, is chairman, has been completed
by the appointment of the following
members:
Walton L. Sanderson, vice chairman,
Federal-American National Bank; Rose
i. Royce. secretary the Washington
Loan & Trust Co.; S. Winifred Bur-
well, National Metropolitan Bank;
Aubrey o. Dooley, Federal-American
National; Joseph Fitzpatrick. Second
National Constance o. Fogle, Riggs
National A. E. Henze, w. B. Hibbs
Co.; Robert E. Lee, Lincoln National;
T. Hunton Leith, Security Savings and
II. u
Hibhs Co.: Frank M. Perley, American
Security & Trust Co.: I. J. Roberts
Riggs National; Mabel v. Royce, the
Washington Loan & Trust Co.; Paul J
Seltzer, American Security & Trust
Co.; James A. Soper. Lincoln National
and Gertrude C. Wick, Liberty National
Mr.. Lacey, the chairman. has been
active in chapter affairs for the past
teight years. He is a standard certifi-
cate holder, has held the Offices of as
ssistant secretary, treasurer, second vice
president, and has served on the board
of governors, as chairman Of the mem
bership committee in 1920 and 1896
and has been a member of various
other committees during the past eight
years.
The subjects to be offered this veal
are Banking I, Law T. Law II. Econom.
acs, Banking II, Credits 1, Credits II
and Banking III. The committee is
also contemplating offering course ir
taxation. II this plan materiali2es, one
new instructor will be added to the
chapter faculty.
Piatt Defends Branch Banking.
Edmund Platt, now a Buffalo banker
and for several years vice chairman o1
the Federal Reserve Board here, pre-.
III t,iaufc hra ho EiY1oy "
the last issue of the American Bankers
journal. Among other things he says
Nine States already have given STATE
banks authority for Statewide banking
and some of them for going outside o.
State lines. Several State banks il
fact have branches abroad today and :
number of State Legislatures have hac
before them during the past Winter
branch banking bills, against which
there was not very much opposition
but which were postponed to see wha
the Federal Government was going
to CO.
The Federal Reserve Board, unde
section 19, must approve the eStabllsh
ment of branches, and inasmuch as tn
establishment of branches under tn
Vandenberg amendment involves tn
consolidation of national banks or ma
tional banks with State banks. the con
sent of the controller of the currenc
would also have to be obtained
He reviews the past record as a.
indication that the Federal ReSerV
Board will be pretty certain to leal
over backward in favor Of preserPin
the independence of every well man
aged country bank and against permit
ting any unwarranted or unlar com
petition from branch banks.
And, admitting that too many oanK
have been chartered both by naf'cre
and State authorities. Mr.. pltts say
that most of the.r Unnecessary chaf
ters date back more than 10 years an
cannot be charged against the presen
controller. The fact that we nave 10
many banks does not, however, lmpl
that there are too many banking ONCE
in the United States
Longed to Own Railroad.
A Philadelphia lawyer bought a raj
road recently running from Dentol
I'D. to Lewes, Del. 1t is Al miles lor
and has four box cars and a locomC
tive. The lawyer bought it at a RI
ceiyers sale for $26 900. The only e,
PLANTATION he gave for buying it WI
that he yielded to a desire, deep in h
breast ever since early boyhood. to ow
a real. sure enough railroad, with pu
fing engines and cars rolling on shir
rails.
SILVER QUOTATIONS.