Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-12-06

In the past few # -
Gav3 chris t m 5 % - A&4
cl.b memberships f & Z
h-yc come in at
surprising rate. The Allen A. Stockdale.
great thrift more
mont is gaining momentum every DAY
and it IS possible that last years high
record will again be smashed. This
has happaned every year since 1924.
Nest of the banks are Offering five or
81: classes Of clubs. Members may pay
so cents a week and receive S25 at the
end OF the year, 81 and get $50 az the
yee- cn6. 50 end receive 500. SIS and
pc. c2J0. $40 and have $500. or $50 a
wec.1 and receive a check for 81 900 in
= cembcr. 1888. Interest on Christmas
6ercsits is allowed when the payments
al made regularly.
Ecnkcrs said to-day that not only arc
Tho Christmas savings clubs going
allc2d at lively pace. but the past few
days has alco witnessed a gain in regu-
la savings accounts. Two chief rea-
sons are assigned for this improvement.
Many pcople put part of each years
Christmas savings right back into
permanent savings. Of course. that is
being done again this year The other
rec1cn appears to be the desire on the
part of a great many people to strength
en- their rainy day" position. Never
have reserve funds been more needed
than at present. Anticipating the re-
occurrence of such demands. bank de-
positors are increasing their savings
accounts.
New York Exchange HighEights
The New York Stock Exchange Year
book. just received in Washington, is
replste with miscellaneous information
about the big Exchange.
At times nearly 100000 telephone
calls are transmitted in z flve-hour ses-
sion betwean members Offices and the
floor of the Exchange. About 1000
telephone clerks are engaged en- the
floor in handling orders.
Approximately 10000 miles of tele-
graph and telephone wires are used in
the New York Stock Exchange Build
ing, exclusive of those which are strung
for the service of tenants.
The telephone booths on the floor of
the Exchange are connected with the
trading posts by a pneumatic tube sys-
tem which contains IS miles Of alumni
mum tubing and six 75-horsepower COM
prcssors delivering 10000 cubic fees of
air Ger minute at l Il pounds pressure.
The Stock Exchange employs re-
frigerstion system for cooling the air
in the building. On excessively humid
days as much as four gallons Of water
a minute are extracted from the at
mosphere.
On October / of this year the Ey-
change had 35 stock tickers and 4 bond
tlckers running INTO Washington. These
ticleTs are all over the United States,
the Dominion of Canada and Cuba.
Million Miles of Ticker TaDe.
The average consumption of ticker
tape during a 5000, 000-share day,
something very rare in these times, is
approximately $500 feet per ticker.
On October 90, 1929, when total sales
amounted to more than 100000
shares, approximately 100000 feet, or
5000 miles, of ticker tape were used
on the stock tickers alone.
During 1929. when total sales
amounted to more than 1,124 900. 900
shares, establishing new high record.
approximately 5,340.000000 feet of
ticker tape, or more than 100000
miles. were consumed on the stock
tickers alone.
The highest price at which any men,
bcrsfip has been posted for sale up to
October l. 1882. was 1925, 900.
The largest trading day in the his
tory of the Stock Exchange was October
%. 1929, when total of 16,410,03O
changed hands
The largest days trading in bonds
wa back in 1918, on December 80,
with total of S44 ,486,000 par value.
There were only II days prior to
1928 when the daily volume of trading
In stocks exceeded 100000 shares.
StockdaIe Forum Speaker
A large attendance at the monthly
forum dinner OF Washington Chapter,
American Institute Of Banking, WIS
anticipated today by Chairman Norman
Z. TcT-en. The meeting will start at
$50 tomorrow evening at the Hay
Adams House.
As previously announced. the speakers
will be Rev. Dr. Allen A Stockdale,
pastor Of the First Congregational
Church, and c. Gould Lincoln, political
expert. for many years connected with
The Washington Star.
Both talks viii have bearing on the
banking situation. The general theme
of the institute forum meetings this
Year is Banking at the Crossroads"
Traction Stock Changes Hands.
Activity in Capital Traction stock
drew special attention of the Washing
tn Stock Exchange today.
The market in this issue opened with
100 shares selling at 4ls. followed by a
block of 70 shares changing hands at
the same price. This 173-share turn
over was the largest in this issue
recorded in many weeks,
The days largest bond transfer was
$1,000 Washington Railway & Electric
Is which moved at ST.
Washington Gas IS, series A. moved
at 993a while the corporations IS,
series B. came out at 1929 on a very
small sale. Washington Gas IS regis
tered 500 sales at 1Ol@s.
During the session two shares of
Potomac Electric Power 81 per cent
preferred stock sold at 1861.
The Mutual Benefit Life Insurance
Co. of Newark. N. j.. recently paid a
$4,000 death claim covering two policies
taken out in June, 1865, nearly three
months after Lincoln was assaSsinated,
according to H Lawrence Choate, gen.
eral agent of the company's Washing
ton office. The local agency was start
ed by Joseph c. Lewis in 1845, the year
the company was founded.
Chairman Norbeck of the Senate
Banking and Currency Committee says
he expects to resume hearings in the
committees stock market investigation
some time before Christmas.
Eastern Steamship Lines, Inc. has
declared the regular quarterly dividends
OF 5175 on the first preferred and 87la
cents on the no-par preferred stocks,
both payable January TO stock of
record December 16.