Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-06-15
BONDS FEATURED
ON D. c. EXCHANGE
Trading Picks Up, With Sew
eraI Issues Showing Small
Advances.
BY EDWARD C. STONE.

BY EDWARD c. STONE.
Trading on the Washington Stock
Exchange today was the most active In
several sessions. Bonds were the lead
erS.
The market opened with $500 Wash
tngton Gas Light SIS selling at l00a4.
followed by q $500 sale in Washington
Gas IS, series B, at 1001a.
Washington Railway & Electric As
figured in a 1000 sac at 807s and IN
another similar transfer on an ad-
vance to 81. The bond market closed
with 81 900 washington Gas SIS chang
ing hands at 100.
The first sale in the stock division
was a small lot of Capital Traction at
1O, this stock now being quoted with
out the recently declared dividend, the
stock now being on basis of 81 a year.
The quarterly dividend was cut from SO
cents to Is at the last meeting of the
directors.
National Mortgage g. Investment pre-
ferred came out at 3, recording an I'M
usually large turnover, three 10O-share
blocks and one 75-share lot figuring in
the days business. Potomac Electric
Power 5l2 per cent preferred was &C
tive, six small transactions taking place
at 101.
Charles H. Doing. newly elected Sec
rotary of the District Bankers Assocla-
ton, has sent out his first official no.
tice to member banks, calling special
meeting on Friday afternoon at 4
O'Clock, in the directors room of the
American Security & Trust Co., for
the purpose of considering uniform
plan for handling the collection OF
taxes on checks and safe deposit
rentals"
A special committee from the audi
tors section of the association has been
giving this matter special study, and
copies of special report from the COM
mittee are to be furnished member
banks before Fridays meeting. The
matter was also given much consldera-
ton at the recent convention.
Plans for payment of the new 2-cent
tax on every check, draft or money
order, were issued today by the Bureau
of Internal Revenue. and sent to col
lectorS throughout the country for use
for collecting this far-reaching levy on
the American people. Complete regu-
lations as to how the law will be ad-
ministered are expected soon.
The 10 per cent tax on safety deposit
boxes will be collected by the person or
institution renting the box, and will be
pdlQ 10 lIlt COllCIlOl 4ll4o lCIulll 20 w
be made on the same form with the
tax on checks.
Other forms issued today include one
for the tax on payment Of electrical
energy, telegraph and telephone facili-
ties and transportation of oil by pipe
line
L. S. Savings Declares Dividend.
The directors of the United States
Savings Bank, Wade H. Cooper. presi-
dent. have declared the regular quar-
terly dividend due at this time, of ~
per cent, payable on June 80.
The Virginian Railway has declared
the regular quarterly dividend of S1.50
on the common stock, payable July
to stock of record June ID.
G. c. Murphy Co. declared the regu-
lar quarterly dividend of 50 on the pre-
ferred stock, payable July 2 to stock of
record June 81.
National Biscuit Co. declared regular
quarterly dividend of 10 cents on COM
mon. payable October IS to stock Of
record September Is, and SITS on the
preferred, payable August 81 to stock of
record August IL.
Fiduciaries Committee Named.
The executive council of the fidu-
Charles section of the District Bankers
Association was named for the coming
year during the meeting at Hot Springs
1t consists of Leonard Marbury, Wash
ington Loan &, Trust Co.; William E.
Howard, National Bank of Washington
Sidney F. Taliaferro Riggs National
Bank, and David Bonet, National Saw
ings & Trust Co. These men, who are
actively connected with the trust de-
partments in their respective banks, will
soon elect chairman for the fiduciaries
section for the coming year. Kenneth
F. Brooks, assistant trust officer at
Riggs, is Just finishing very successful
year as section chairman, his report
being feature of the annual conven-
ton.
Savings Bank Elects Officers.
John c. Yost was reelected president
of the East Washington Savings Bank
at the annual organization meeting
held by the directors late yesterday.
S. H. Walker was made first vice presi-
dent Lewis Flemer, second vice presi-
dent; S. Wilson EarnShaw, secretary
and treasurer, and Walter H. Harlow,
jr., attorney. Mr.. Yost has been at the
head of the bank for many years The
bank was organized About 26 years ago
and has always done business at the
same location, 312 Pennsylvania avenue
southeast.
Heard in Financial District
The Washington Stock Exchange ad-
5ourned today out of respect for L. L.
Thompson, whose death occurred yes
terday. He had been a member of the
exchange for many years. A commit
tee was appointed to attend the funeral
tomorrow.
James M Johnston of James M.
Johnston g. Co. announces that J. Glib
son Kincheloe, for the past four years
manager of the Washington Office of
H M. Byllesby g. Co., has become asso-
ciated with his firm. He Is a graduate
of Episcopal High School, Washington
and Lee University and the Babson In
stitute. He was in the United States
Infantry during the World War and
has been in the investment security
business since that time.