Evening star., 1932-11-20
new HOME OPENED
HERE BY NEW YORK
EXCHANGE MEMBER
c. D. Barney & Co. Expands
Staff and Moves Into Offices
in Woodward Building.
COMMITTEE REPORTS
RECOVERY PROGRESS
Bank and Industrial Leaders Find
Increase in Work in Fifth
District.
BY EDWARD C. STONE.


York Stock Exchange firm, located in
the Securities Building, will open for
business tomorrow in Offices on the
ground floor of the woodward Build
ing in quarters formerly occupied by
the National City Co. The new broker
age Offices have street entrance, fac
ing what Is familiarly known as "the
Wall street of Washington" and wide
frontage, in the lobby, from which en-
frances give easy access to the board
loom, stock department, cages and con-
sultation rooms.
The new quarters are. most modern
and attractive. An indirect lighting
system and blends of gray, green and
ivory in the color scheme prove de-
cidedly restful to the eyes. Cages, par
titions and furniture are built of wal
nut The stock board. with green
background and dark hardwood border
ing, is Illuminated by footlights and a
dimmed overhead electric f1oodlight.
Tickers, telegraphic instruments and
telephone connections are equipped With
sound adening devices. 49,.
Charles D. Barney & Co. established
o Washington branch last January
under the management Of Frank P.
Morse The organization was enlarged
o few weeks ago, when Edward W.
Gamble. jr., former Washington man
ager for Stein Bros. d Boyce, joined
the staff as co-representative in the
Washington territory. Mr.. Morse and
Mr.. Gamble are assisted by personnel
that includes Philip P. Friedlander,
James A. Sexton, jr.; Richard W..
Gamble, Arthur B. Dickinson. Myron
M. Parker, jr. Miss Isabelle M. Parks,
Miss NJ Blanche Thompson, Richmond
H. Gibson, John Blancbard, Charles
v. Gibson and John Carlisle BUDDY,
70 fxryir rrriH
Washington Offices with New York, Phil
adelplia, Chicago and other important
cities. The firm holds membership in
the New York Stock, Curb, Cotton, Pro-
duce, Coffee and Sugar Exchanges, Chi
cazo Board of Trade and several others.
The history of the house dates back to
1873.
Recovery Progress Pleasing.
One Of the most important meetings
held in Washington this last week was
the session of the Banking and Indus
trial Committee of the Fifth Federal
Reserve District The committee Is
made UP of two members from each
State In the district and two Washing
toaians, E. C. Graham and Robert v.
Fleming.
Chairman Graham expressed much
enthusiasm over the reports on sur
veys made by a subcommittee on busi-
ness stabilization activities. Cnar-
man William M. Hoxton and Gov.
George j. Seay of the Richmond Re-
serve Bank attended the. meeting and
commended very highly the work the
committee already has accomplished.
1t was reported that the movement
for industrial rehabilitation Is well un-
der way The sharethe-work actlvl-
ties under the leadership of Walter c.
Teagle, president of the Standard Oh
Co. of New Jersey. already have brought
about stabilization Of existing employ
ment and in many cases the additional
employment of hundreds of new work
ers. In the industrial area of Baltimore
this movement has the sponsorship of
$50 leading employers who are under
taking the personal solicitation OF more
than 5000 additional large employers to
secure wide adoption of this plan.
The committee reviewed the present
activities of the Government relief
agencies and the work of its members
in aiding in the solution Of the credit
problems of farmers, home owners and
business men throughout the district.
The committee has co-operated closely
with the Reconstruction Finance Cor
poration, the Federal Home Loan Banks
and other Federal agencies in the CO.
ordination of public and private credit
facilities.
University Investments Pictured.
Evidently book publishers believe
things are going to be better soon. Book
output is increasing. One OF the latest
is "Trusteeship of American Endow-
ments," presenting comparisons OF the
investment experience Of many uni
versities. Put out by Macmillan and
written by Wood, Struthers & Co., the
facts and suggestions are aimed to help
trustees of all educational, philanthropic
and religious institutions to increase
current and future income. The authors
have much to say about the past ex-
perience of prominent life insurance
companies in their investing.
Income and safety are vital points
discussed One of the most interest
ing chapters lists the actual invest
ment holdings of some Of the country's
leading universities, the involved prob
lens Of trusteeship being vividly pic
tured.
The percentange Of bonds, preferred
and common stocks. mortgages and
real property carried by educational
institutions is highly informative.
The current bulletin of the Washing
ton Loan & Trust Co. is entitled the
Bankers Acceptance and discusses a
subject OF increasing Importance III
business and finance. The writer,
Norman e. Towson, an assistant treas
urer of the company, says that "the
DEVELOPMENT and use of the bankers
acceptance represents the greatest ad-
vance in the progress of modern bank
ing toward adapting its facilities to
the need Of commercial enterprise"
The bulletin discusses the various
types of transactions that give rise to
the use of acceptances and describes
the procedure of their issuance and
utilization and particular emphasis is
laid upon the greatly enlarged scope of
service which the bankers acceptance
enables the bank to render to its bor-
rowing customers.
Wide interest in the subject is indi-
Gated by the demand foEathe bulletin
from both bankers and business men.
Utility Holdings Increased.
Frank L. Dame; president of the
North American Co., with which the
Washington Railway g. Electric Co. is
afhliated, announces that his company s
holdings of North American Light e.
Power Co. stock have been increased
from 40 per cent to about 48 per cent.
He says the North American Co. is IN
entire accord with the readjustment
plans of North American Light.
The North American Co and the In
gll interests have been the largest in
A. - - -.