Evening star., 1932-03-27
Many Local Corporations
Soon to Pay Dividends
for First Quarter.
IMPORTANT CONVENTION
DATES ARE SETTLED
Washington, Virginia and Mary
land Bankers Will Return to Old
Haunts for Parleys.
BY EDWARD C. STONE.


After Fridays holiday, the first trans
fer on the Washington Stock Exchange
yesterday was a $1,000 sale of Wash
ington Gas IS, series B, at 103.
Washington Railway g. Electric As
next appeared on the board, ST 900 SELL
ing at 80, the same price that has pre-
vailed for several weeks.
Washington Gas SIS also figured in
the days trading, $500 changing hands
at 10015, this price also being prac-
tically unchanged.
Only one stock appeared on the
board. Ten shares of Mergenthaler
Linotype sold at AZ, ex-dividend, un-
changed from the last previous sale.
Three bank stocks were added to the
list of issues now being quoted ex-
dividend in anticipation of dividends
which have already been declared
District National, Security Savings 6,
Commercial and United States Savings
Other stocks on the board which are
to pay dividends in few days include
Emerson's Bromo-Selzer "a" Mer-
chants Transfer & Storage preferred,
Woodward & Lothrop common and pre-
ferred, American Telephone, Capital
Traction and Norfolk g. Washington
Steamboat Co.
Many Convention Dates Settled.
Many annual convention dates have
recently been settled for coming gath
erings of banking organizations.
The convention of greatest local in
terest is the meeting of the District of
Columbia Bankers Association, which
meets at Hot Springs, Va, June 9-11
The American Bankers Association
executive council will meet at White
SULPHUR Springs, W. Va. April 25 TO
27 while the A. B. A. annual meeting
takes place at Los Angeles October 3-6.
The American Institute of Banking
also goes to Los Angeles this year, the
dates being June Clio.
The Financial Advertisers Associa-
ton will gather in Chicago in the Fall,
September 1915.
The Investment Bankers Association
Is booked for White Sulphur Springs,
Va, October 22-26
returns to Atlantic City again this
year, the dates being May 1919.
Virginia bankers have again voted to
visit Old Point Comfort, the associa-
tion gathering at the Chamberlin-Van-
derbilt June 1925.
The West Virginia Bankers Associa-
tion plans to hold its yearly convention
at Fairmont May 1921.
Places Responsibility on Bankers.
While testifying against the Glass
banking bill in its present form, Harry
j. Haas, president of the American
Bankers Association, said:
we as bankers fully realize that our
business Is semi-public in nature and
therefore Government supervision is
Iant -.
the past has developed the national
bank act and the Federal Reserve act
with its numerous amendments, but all
this legislation has accepted the funda-
mental principle that final responsibility
for bank management and bank policy
rests with the individual banker him
self The proposed bill transfers some
of this responsibility to the Reserve
Board. We are of the opinion that such
banking powers were not intended,
under the original act, to be conferred
on the board, but that the board was
intended to be an organization to ex-
ercise supervisory powers and not to
control banking operations"
Employment Gains in South.
An encouraging sign has come out Of
the South during the past week. Recent
employment gains have been most
numerous in the South and the Middle
West, according to Dun's Review, which
adds that highway work, railroad shops,
manufacturers of clocks and watches,
toys. electrical fixtures, silverware, paper
boxes. rubber products, typeWr1terS and
typewriter supplies are foremost among
the branches that have added to the
number of their workers during the past
few weeks
While wholesale markets were eX-
pected to be somewhat dull during the
pre-Easter week, much belated buying
contributed fair volume of activity. The
rush of last-minute buying, the review
adds, and a heavier demand than was
anticipated resulted in numerous mail
2rs. The suit business was unusually
large, and some requests could not be
filled, as manufacturers have been
cutting against orders only. Coat orders
were mainly for fill-in stocks, with fur
trimmed models favored. Recorders
were frequent for brimmed hats, and
silk underwear orders were large than
expected in view of the ather extensive
advance buying.
Cleaned in Financial District.
The February reports of the Potomac
Electric Power Co., Washington Gas
Light Co and the Washington Railway
tial net profits are considered in the
banking district as highly encouraging
I'd the local business outlook. The
telephone report is SoJ yet out, but the
c. & P. has been enjoying excellent
earnings for many months.
The Washington Office of G. M. P
Murphy & Co, has been notified that
the New York Stock Exchange firm
will open an office at White Plains
N. Y, tomorrcy. s1Uh leslie S. CLARK
manager. The new Office will be on tht
same circuit with Washington anc
Richmond.
Charles B. Harding of Charles D
Barney g. Co.. and a member Of th'
New York Stock Exchange, has beer
elected member of the Minneapolis
st. Paul Stock Exchange, following thu
recent opening of branch Offices by thai
firm in Minneapolis, st. Paul, Mil
waukee and Chicago.
The Maryland Trust Co. has de-
clared a quarterly dividend of 80 cents
placing the capital stock on Sl.20 an
nual basis against so previously paid
CHICAGO DAIRY MARKET.