Evening star., 1933-10-13

b o n d S. SubScrlp-
tions open Mon
day next. From S. S. Huebner.
gossip heard in the
banks TODAY it appears probable that
most of the called Fourth Liberties Will
be refunded into the new bonds. The
rates of 414 per cent for the first year
and 3l4 per cent after that time are
considered satisfactory by individual
holders of this issue and to the banks
which hold large blocks of them:
The impression already prevails that
the $500. 900 900 cash offering will be
oversubscribed Exchange OF the Fourth
Liberties into the new bonds can be
made any time within the next SIX
months Of course after the expiration
of the conversion date, the Lloertles
which have been called, Will pear no
further interest.
circles that the Government may call
the remainder of the Fourth Liberty
Loan bonds within the next year. This,
however, is only gossip. as the Treas
ury has made no statement as to future
plans. The new long term bond issue
lust announced however, revlveS nnan-
cling of this type which has been prac-
ticaIly at a standStill for many months.
Bankers in Washington have SAID tnat
such long term issues must come sooner
or later and are glad that such actlon
has now been started.
Huebner Addresses Insurance Men.
At a ioint meeting of the John F.
Cremen agency, together with the Vlr-
ginia and West Virginia representative,
DR.. S. S. Huebner, educational adviser
of the Massachusetts Mutual Life In
surance Co.. is today conducting an ed
ucational conference at the Lee House.
At the morning session DR.. Huebner
discussed THE Potential VS.. the Acquired
Estate" This lecture on estate crea-
ton and conservation has been given
throughout the country during the
Summer and is considered one OF the
foremost expositions of the subject OF
estates.
In addition to being professor of in
surance at the Wharton School Of Fl
nance and Commerce. University OF
PENNSYLVANIA, DR. Huebner is also the
founder and dean of the American Col
lege of Life Underwriters. He is said
10 have done more to raise the standard
of life underwriting than any living
American.
As educational adviser to the Massa-
chusetts Mutual Life, his Summers are
devoted to visiting each agency OF the
company, lecturing and conducting sales
clinics He is also insurance adviser to
the Government and the United States
Chamber of Commerce.
At a special breakfast held at the
Cosmos Club this morning DR.. Huebner
addressed the local Chartered Life
Underwriters, which group includes
many of the Capitals leading insurance
men.
Ferris Made Trust Director.
George NJ Ferris, president of George
M. Ferris 6 Co., Inc, has just been
elected a director in administered fund,
one of the we'll known investment
trusts Mr. Ferris has been connected
with the local financial district for
several years, and some time ago or
ganized an investment firm of his own.
The investment trust in which he has
been made a director has declared
q dividend of Is cents per share, pay
able october Is, for the last quarter. an
increase of cents per share over the
preceding quarter.
Harry j. Donoghue, president of the
Washington Industrial Loan Co. an
affiliate of the Southeastern Investment
Bankers, announced yesterday the pay
ment of an initial dividend on the pre-
ferred shares of the company to all
stockholders of record as of Septem-
Der 27. The dividend was per cent.
Clarence Falk, manager of the Wash
1ngton office of Lawrence Adams & Co.,
in the Southern Building, reports that
the firm has prepared a special book
let on home loan bonds, which now is
being distributed. While doing a gen.
eral bond business, the firm plans to
specialize in these bonds The local
offices have been expanded.
nf yNtIh1 10 III, =
operation of utilities are seeking to
break down State regulation, H. Lester
Hooker of Virginia, president of Ma
t1onal Association of Railroad and
Utilities Commissions, told association
members at Cincinnati convention.
More National Banks Reopen.
Twenty-three national banks were
licensed and reopened in the first 10
days Of October, and reorganization
plans were approved for 19 others, Cur
nounced today.
Frozen deposits of the institutions
reopened totaled s32,564, 900, and un-
restricted deposits aggregated $2.577,-
O00," said Mr.. O'Connor. THE 10 banks |
to have reorganization plans approved
had frozen deposits of S31, 100000 and
unrestricted deposits of S1,554000."
Up to October 10 there were 372 ma
tional banks, which had reorganiza- |
ton plans approved. They had frozen |
deposits Of S397,00O.O0O and unrestrict- /,
ed deposits of s3O,127,ooo.
New Transit Officials Elected.
j. E. Heberle was elected vice presi- !
dent and controller of the new Capital
Transit Co. and j. H. Stephens, vice |
president in charge of transportation |
at meeting yesterday of the board of
directors.
Mr. Heberle now is associated with |
the Capital Traction Co. and Mr. |
Stephens with the Washington Railway
& Electric Co.
Trading on the Washington Stock
Exchange opened following the Colum-
bus day holiday with $100 Washington
Gas IS, series B, selling at 10215. The
next bond sale was another $500 trans
fer in this same issue at the same price !
Washington Railway & Electric as
figured in $500 sale at 81 and ST 900
Washington Gas SIS, 1860, moved at
1047s, concluding the days bond trans
actions. Only one stock appeared on
the board. Capital Traction. two small
lots changing hands at 1872. The |
stock closed with 1874 bid and Is
asked
Local broker offices were we'll filled
with customers today after the holiday
in Wall Street yesterday. The opening
was rather disappointing. the financial
news over Columbus day failing to start
any particular increase in volume of |
trading or in prices
NEWSPRINT TOTAL DROPS.