Evening star., 1932-11-28
BROKERAGE HOUSE
| OPENS NEW HOME
Fenner, Beane & Ungerleider
+ Greet Many Visitors in
f Southern Building.
BY EDWARD C. STONE.

n BY EDWARD C. STONE.
with a view to getting nearer to the
~kWall Street section" of the financial
district. Fenner, Beane & Ungeleider
ppened for business today in their new
uuarters in the Southern Building,
having moved from < street over the
sMeek end The new offices are a COM
I bination of two large ground floor OIL
I dces held for long time by two other
business organizations, are splendidly
equipped and have unusual light, air and
ventilation. The new board carries
quotations on New York Stock Ex-
change issues, bank stocks, New York
!. curb and Chicago grain quotations.
Manager John D. Mothershed and his
, staff received a host Of congratulations
today on the attractiveness OF their
new business home.
!. Only Moderate Changes Likely.
:. While the coming Winter months
:, may show further progress in business
and trade, financial opinion leans to-
award the view that the coming weeks
ARE not likely to tring sharp changes
: in the rate Of business activity, declares
! the Guaranty Trust Co. in its monthly
review received here today. The sur
yey says:
THE lack of any significant increase
in bank credit, the recent Irregularlty
in secuc>y and commodity prices,
the absence CT any strong seasonal in
fluence during the Winter, and the
fact that the policies of the incoming
administration cannot well become
known in detail for several months at
leagt are among the factors that tend
to support this view" says the Survey.
added to these conditions are the
acute political and financial unsettle-
ment that still exists in some quarters
abroad and the fact that certain inter-
national economic problems of the
.greateSt urgency still remain to be
+, solved.
For the immediate future, therefore,
interest centers on the probability of q
strengthening of economic fundamen-
tails through international action on
ornaments, w2r debts, trade barriers,
monetary sterilization. and the other
questions that have been created or ag-
gravated by the world depression"
AS Industry Views Outlook.
Conclusions that may be drawn from
the very interesting letters from cap
tains of industry are % Retailers are
/. more optimistic than manufacturers:
. 90 manufacturers representing light
: industries, because Of their environment,
see earlier Improvement in general trade
: than those operating IN heavier lines:
: go purchasing policies of railroads will
: be governed by the rate and extent
, OF traffic improvement: a. opinion is
that commodity price Improvement,
: when it comes, will be the important
business stirnulant; 60 the coming year
{ will witness a gain in public buying
: power, either through employment of
a larger number Of workers or fuller
Z employment for those engaged in in
dustry Cor possibly both), and t6) bust
: ness stimulation from new industries in
: 1888 will be Of minor importance, says
q survey by Frazier Jeikc & CO.
. Bank Stocks Of During Week.
New York City bank stocks again re-
acted during the last week, the de-
crease in the aggregate value approx
mating Sl05. .000, or about per
: cent. The aggregate value of the l6
: leading issues, according to records
compiled by Holt. Rose & Troster,
: amounted at the close of the week to
81 ,645, 100000, which compares with
=tot2l of s1.750, ,a92. 900 reported at the
-clcse Of the previous week, and with a
stotal of S929,395, 900 reported on May
81 last, the low point of the depression.
f'Tne average yield Of the 16 stocks is
now 6.58 per. cent, compared with 6.1e
per cent reported on November 16.
q While opposing cancellation of the
war debts, Special Committee of the
: United States Chamber of Commerce
advocates that modification Of these
Z debts be conditioned upon reduction in
expenditures for armaments by the
Debtor governments and the granting of
concessions to American trade Any
81 further adjustment of the debts must
anot throw the undiminislled burden of
~such step upon the American tax
I payers it was declared Further post
: 'ponementS of payments should be au-
4 thorized temporarily in the case Of
I debtor countries unable to make present
: payments, it was advocated.
/ Today's d. c. Exchange Trading.
The weeks trading on the Washing
! ton Stock Exchange opened today with
two $1,000 sales in Potomac Electric
!. Power GS at 1O8.
! Potomac Electric Power consolidated
5s appeared on the board in three 81, 900
! strcnsac ctions. all registered at 1895.
y Washington Gas Light SIS came out in
"a 5000 Gale at 10l5e, while Washington
Railway & Electric Is appeared in a
81 .0o0 turnover at 37la.
socks were neglected in today's
trading. The only sale was a small lot
of Potomac Electric So per cent pre-
3erred, which moved at lot, ex-dividend.
Capital Traction clo-ed the session
tNlth AZ bid and 5a4 asked, the same
sR5 last weeks final quotations
Both Potomac Power and both Rail-
sway & Electric stock issues are now
.be:1g quoted ex-dividend
Heard in Financial District.
Dr.. Donald w. sawtalle has joined the
sstan Of Slauson & White, an invest
sment firm located in the Peoples Life
sIn.urance Building. Dr.. Sawtelle was
formerly professor Of economies in the
Ma gsachusetts State College
The Bank of Manhattan Co. in New
York. IS mailing checks aggregating
S3,083,S30 to 1928 members of the
banks 1882 Christmas savings club.
This IS one OF the largest Christmas
savings clubs in the United States, hav-
ing been started IS years ago.
At a regular meeting Of the Govern
inC Committee CT the New York Stock
Exchange, held on November %. Walter
p. Hail was granted an extension of one
year from DecemDe- co, 1882, within
which to settle with his creditors.
The second forum dinner of Wash
.ington Chapter, American Institute Of
Banking, VIII be held at the Hay Adams
sHcuse Wednesday evening. December z,
at $50 O'Clock. The subject to be dis
ecussed is governmental expenditures.
with particular emphasis on the need
for economy a vital subject for con-
ss:aeration N connection with the gen
ser2l theme, Banking at the Crc-.-
srcldS"
. Albert H. Dudley. formerly executive
ss1cc president OF Baltimore TIust Co.
sh2s been elected president of the Title
Guarantee q Trust Co. and Mortgage
Guarantea Co succeeding Albert G.