Evening star., 1932-06-03

u1eIltS LII N1dASAls :
Eight of the "a
reporting cities l. -
showed higher fig -
ures for the more ~
recent period. ~ @
Among the larger - sA-1sss-...-
ton, Norfolk and
Washington reported higher figures for
the current four weeks. but Baltimore,
Charleston, w. Va; Charlotte, Rich
mond and Winston-Salem reported
lower figures.
In comparison with debts reported
for the four weeks ended May 13, 1881.
those for the corresponding four weeks
this year. ended May II, 1882, show Il
total decline of $3.50, ,261 900, or pit per
cent, at least a considerable part OF
which was doubtless due to lower price
levels this year. Every one OF the re-
porting cities showed lower figures for
the 1882 period. says the Richmond Re-
serve Bank.
Groom Busy With Convention.
Thomas j. Groom, vice president and
cashier of the Bank of Commerce &
Savings. is one of the busiest men in
the city right now He is chairman OF
the Hotel Committee of the District
Bankers Association and is hustling to
please everybody with accommodations
at the Hot Springs convention, which
opens June 9.
Mr.. Groom was chairman OF the En-
tertainment Committee last year and
is already well acquainted with the
hotel managers. That makes this year S
lob a lot easier. The last reservations
must be in by Saturday, after which
date the final hotel assignments will
be completed.
With Chairman Groom on the COM
rnittee are c. F. Burton. vice chair
man: Luther E. Schreiner, w. R.
Lewis. J. r. Exnicios, John D. Howard,
RAYMOND L. Schreiner, Louis c. Eek
loft and John c. Walker.
Today's Trading on Exchange.
= CAPITAL Traction sold up an eighth
On the Washington Stock Exchange to-
day on a sale of only five shares. The
market closed with 101s bid and 12l2
asked. 1t sold yesterday at 10.
= Potomac Electric 5l2 per cent pre-
'ferred sold today in small lots at l02.
The rest of the days business was in
bonds. Washington Gas SIS sold to the
extent of $1,000 at 10011 and five sl0O
sales in washington Gas Light IS, series
"A, were recorded at 9812.
The board of governors OF the Ex-
and asked quotations on bank, 1nsur-
sance and miscellaneous stocks and fixed
sminimum prices on these issues. The
step is taken for the better protection
of the public. The public utilities and
bonds are still carrying the usual bid
and asked quotations.
Bankers Honor E. j. Stellwagen.
C. H. Pope, president Of the District
If Columbia Bankers Association, has
.called a special meeting Of its council
of administration for today as tribute
to the late Edward ] Stellwagen.
a past president of the association,
shaving served during the administrative
year 1eO8-1909.
Mr.. Pope has appointed the follow
ing committee to prepare resolutions,
which will be offered as the first order
of business at the convention to be held
at Hot Springs, Va, June to IL:
Ord Preston, president Union Trust
Co., chairman; Corcoran Thorn, .presl-
dent American Security g. Trust CO.;
Rohert " Fleming. president Riggs Ma
.tional Bank. and william D. Hoover,
spresident National Savings & Trust Co.
Presidents of the local banks have
been asked by Mr.. Pope to represent
the association at Mr.. Stellwagen's fu-
neral on Saturday afternoon at Z
o'clock at Epiphany Church. AS presl-
dent Of the association, Mr.. Pope also
will attend.
Scores of glowing tributes were paid
the deceased banker in. the flnanclal
district today. His was an unusually
active banking and business career
crowned with achievements to make
his memory lasting. One of his Oldest
friends paid him a perfect tribute just
the other day when he said:
Il would trust Ned Stellwagen with
,uncounted gold"
Insurance Business Picking Up.
The third anniversary of the David
S. Bethune Agency of the Equitable
Life Assurance Society in Washington
was celebrated at supper dance Wed
nesday evening at the Congressional
Country Club. This party marked the
conclusion of special one-month
campaign in honor of David S. Bethune,
the manager.
brought in Sl,576,339 Of business on
222 lives. This outstanding production
record during time when conditions
have been upset in Washington is con-
sidered as real tribute to the leader
ship of Mr.. Bethune from his loyal or
Ranization.
Among the guests from the home Of
fee were Roy r. Hale, superintendent
OF agencies: Harold j. Rossman, agency
assistant; Henry c. Kranz. group super
visor, and Lothair Smith, assistant
auditor.
In and Out Of the Local Banks.
President Lawrence Proctor and
members of the washington Bond Club
with many guests, are holding the an
nual outing at the Burning Tree CLUE
this afternoon ard evening.
John r. Keener of Riggs National
who won second place in the bankers
ESSAY contest this year, won second
place in the same contest two years
ago. That was the year that Miss
Katherine Grieg and Miss Esther Lau
won first and third places, respectively
giving all three rewards to Riggs.
The Mount Vernon Savings Bank Is
still decorated with many flowers that
were sent to the office when Frank w
Lee assumed the presidency Of the bank
on June l.
The Guaranty Trust Co.. New York
has declared the regular quarterly divi-
dend of IS a share, payable June 80
The Chase National has voted quar-
terly dividend of so cents share
against rs cents share in the previous
quarter. Both stocks are widely held
locally.
The revenue accounting departments
of Southern Railway System now at
Cincinnati and Atlanta will be consoli-
date at Atlanta. on July l.. Officials OF
the Southern estimate saving OF
$3.50, annually will be effected.
I Rank Of England Statement: