Evening star., 1932-11-26

bined space loF-
merly occupied by
the Exchange firm
of Harriss {. VoSe
and that formerly S% 4
occupied by Weaver zS la9sS U ID
Bros, real estate
brokers' The par John ID. Mothcrshed.
titicn between the
two old Offices has been removed, the
premises remodeled and richly fur
nished, making a most attractive ana
spacious brokerage office.
All modern facilities for the con-
venience OF customers have been m
stalled, including private offices and
conference rooms Latest quotations
will be posted on the board covering
New York Exchange and Curb stocks
bank stocks, grain and other commodl-
ties. Extra telephone lines have been
instaIled for handling local quotation
calls.
N addition to Manager John D.
N~thershed, the personnel of the Office
Includes Richmond P. Davis, assistant
m,nager; Henry Shepherd, H. Kenneth
Murray, Robert X. Carpenter. Mrs
Arlbler H. Cardwell, brokers: ana Jonn
M Wilbur. Bowman McCalla MacAr-
thrr and Claude H, Creamer. The In
yestment department will be in charge
of Clement G. Randle and Dwight G.
Smyth.
President Siss0n Is Cheerful.
The elimination of uneconomic units
by suspensions, mergers and voluntary
LIQUID atoms has made the countrys
banking structure stronger than any OF
The sweeping plans for legislative re-
forms could have done, Francis H. Sis
son, president of the American Bankers
Association, declared, at a dinner meet
ing of New York Chapter, American In
stitute OF Banking.
One of the needs of the Nation is
stronger banking system, he continued.
Bankers generally agree, Mr.. SlSson
said, that the maximum improvement
with a minimum of disturbance could
best be obtained through gradual and
progressive strengthening rather than
through abrupt transition, such as
bringing all banks under Federal con-
trcl.
He said that the countrys financial
outlook is unmistakably encouraging,
with the current situation showing
satisfactory improvement over the criti-
cal conditions that existed few months
ago.
ID. C. Store Sales Compared.
In a detailed sales report covering
business in 33 department stores in the
fifth Federal Reserve district, the Rich
mond Reserve Bank states that retail
trade in Washington in October was
200 per cent under the figure for Octo-
ber, 1881. For the first 10 months of
1882 local trade was off l61 per cent
from last year.
Stocks carried in Washington stores
at the end of October were 14.2 per cent
lower than on October 81, 1881. Com
of CoofHrahor fhfe
year stocks were 81 per cent larger.
During October stocks were turned over
.371 times and during the first 10
months of this year were turned .3.026
times
The percentage of October /, 1882.
receivables collected during the month
of October was 276. against 29.3 for
Richmond, 22.3 for Baltimore and 25.2
for the fifth district es whole.
Sales in Richmond in October were
OF 1914 per cent, in Baltimore 1913 per
cent and for the whole district 20.4 per
cent.
Fewer Failures Being Noted.
The decline in failures at this time,
continuing over period of 18 weeks
with but a single insignificant interrupt
ton, is contrary to normal seasonal
behavior Total failures for the week
ending November II were 408. which
is less than the week before and
the lowest total since December "a,
1929 This is the first instance where
any index on the recovery side has
established contact with the great boom
year.
The food price index of BradStreet's
Weekly, covering 81 articles, again
moved forward cents and is at S1.73.
It has thus wiped cut completely the
decline of cents. which took place in
the two weeks from October 18 TO
November l. Caution must be observed
in noting this improvement. 1t is due
largely to rise in the price of butter,
eggs and hogs and is not general enough
to be wholesome. In fact, the declines
fcr the past week exceeded the increases.
Among 81 commodities IL increased.
% decreased and 54 remained un-
figures were 81, l3 and SO, respectively.
Heard in Financial District.
Directors Of Commercial Credit Co.
have declared regular quarterly div
1Genas on the 6l2 per cent and per
cent first preferred stocks, per cent
class B. preferred and the So class "a
convertible stocks were declared, pay
able December 81, 1882, to stockholders
Ci record at IL noon on December
10, 1882.
Virginia Public Service Co. has de-
clared the regular quarterly dividends
of 81 rs on the 7 per cent preferred and
s150 on the per cent preferred stocks,
both payable January to stock Of rec
ord December 10.
North American Co. has declared the
regular quarterly dividends of 212 per
cent in common on the common stock
and rs cents on the preferred, both
payable January to stock of record
December 5.
j. C. Penney Co. declared a quarterly
dividend of As cents on its common
stock and the regular quarterly pay
ment of sl50 on its preferred stock.
Beth dividends are payable December
81 to stock of record December 20.
L, A. Wingo Of Petersburg, Va, was
appointed manager and executive vice
president of the Regional Agricultural
Credit Corportion. with headquarters in
Baltimore. This district includes Mary
land Pennsylvania, Virginia, West Vir-
ginia and Delaware
The Chicago Clearing House Associa-
ton has voted to reduce interest rate
on savings accounts To 212 per cent
from 3 per cent, effective January /
1o33