Evening star., 1932-11-03

4O4lON4lA5 A'4oNAAA
ident: Frank S. A'F"'' ->'' ''' ~
Smith, attorney; Karl Achterkirchen,
John Alden. John N. Auth. Barry Black,
Joseph Brashears. G w Forsberg, Will
liam F. GUIDE R. Lee Horton, William
E Howard. Arthur J. May, John A.
Maxwell, Alfred Walford and Charles
W Morrison. directors.
The association. organized in 1898,
entered business at 494 Louisiana ave
nue.. moving later to its location in the
former Central National Bank Building
at 631 Pennsylvania avenue.
L. S. Bonds in Vigorous Demand.
In a recent address Arthur A. Ballan-
tine, UnderSecretary OF the Treasury,
had this TO say regarding the demand
for United States securities
During past months the investment
demand for United States Government
securities has shown remarkable i'm
provement If we go back as far as
TIE latter part OF January OF this year
We find that long-term Government
bonds were selling in the market on a
basis to Weld from 420 to AS as COM
pared to yields of 324 to 3.57 on Octo-
Der Is 1882. or about full point less.
In December, 1881. one-year ohllgatlons
commanded as much as 3l8 per cent.
WELD about three-eightS OF l per cent
In February 1882, the yield of 90-day
Treasury bills was upwards or per
cent On October Is the yield had
receced to the record low of one-flfth
OF l per cent.
Financial Outlook Held Encouraging.
The Guaranty Trust Co.'S monthly sur
Vey declares that the most Slgnlhcant
Iota 1ah h1e conforming financial and
banking developments are the weekly
repOrtS issued bv the Federal Reserve
system, and the statistics included IN
these reports lead to the conclusion that
the countryS financial outlook IS un-
miStakably encouraging. The current
situation shows a very satisfactory I'M
provement over the critical conditions
that existed a few months ago. and 1t
is now apparent that the Federal Re-
serve Banks have successfully with
stood the most severe test since their
creation in 1913.
Declaring that there is no basis for
pre- Judgment or anxiety anent the
election. the National City Bank. in its
monthly review. observes that the M
portant fact is both parties have taken
the conservative side of the major is
sues.
1T is rather to be considered that the
most notable aspect of this campaign IS
the Endorsement by both candidates and
party platforms of principles of econ
omy and sound money" it says. They
are alike in recognizing the Importance
OF balancing the budget, and there is no
agitation of the money question among
the leaders of chief influence within
either party"
ID. C. Bankers Flock TO Luncheon.
Local bankers were enthusiastic today
over the talk given at yesterdays
weekly luncheon at the Willard by In
spector Frank S. w. Burke of the
Metropolitan Police Department, on the
best and most practical methods of
protecting banks from hold-ups. The
advance announcement OF his subject
drew a record gathering to the mid
week meeting, about IS being present
President c. H. Pope presided.
While the local banks are Consid-
cred to be well protected. yec efforts
are now being made to make them
still better protected. Their alarm sys-
tens are always in firSt-clasS Condl-
ton and the use of gas bombs recently
showed their special value inspector
Burke offered many practical Sugges-
tions and was accorded special appre-
citation by the fnanciers.
Cleaned in Financial District.
Washington Gas Light IS opened
trading on the Washington Stock EX-
change today. $1,000 selling at 1O1 3.
Washington Gas IS, series A. figured in
1000 turnover at 1913, same as the
last previous sale. In the stock division,
10 shares of Washington Railway q
Electric preferred came out at 88 y and
three 5-share lot sales in Capital Trac-
ton took place at g.
Ninety per cent Of eligible institutions
in the District CT Columbia have sub
scribed in the Home Lean Bank. E. G.
Baltz reported to the board Of directors
of Washington Chamber Of Commerce
at their meeting yesterday.
Drug. Inc. has declared the regular
quarterly dividend Of 81. payable De-
cember l to stock of record Novem-
Der Is.
Howard A. Smith has been elected
vice president and treasurer of Amer
lean Express Co. to succeed the late
George Weston.
Coinage by the Philadelphia Mint in
October consisted of 400 900 gold eagles
valued at S4,000,000 and 1,558,000 1-cent
pieces. valued at S15,580. making total
1958Oo0 pieces of aggregate value OF
S40I55S0