Evening star., 1933-12-15

ing its capital structure by the sale of
preferred stock to the R. F. c., will
hold its dividend meeting January 9.
A statement has been made by the
chairman of the board that he expected
to recommend the payment on Febru-
ary l, 1884. of a dividend of 25 cents
for the last quarter of 1888
Industrial Starts Stock Sale.
With the final details approved by the
Treasury Department, the Industrial
Savings Bank, at Eleventh and U streets
northwest. has commenced the sale of
stock in the new bank, to be known as
the Industrial Bank. When the reor-
ganization is completed $4,000 will be
released to depositors.
w. H. c. Brown, president of the old
bank and its conServator, received the
forms for sale of stock from the Treas
ury Department and Immediately
placed the stock on sale at S13 share.
OF this $40 is the par value of the stock
and So is for surplus of the bank. The
sale is to dispose of 5000 shares, to
build new capital structure of S65. 900.
OF this, $4,000 will be capital stock
and $15,00G surplus.
The name of the bank was disclosed
for the first time when Conservator
Brown received approval of the name
from the Office of the recorder of deeds.
The Industrial Savings Bank has been
closed since the bank holiday last
March. Some years ago the bank ex-
panded by taking over the Prudential
Bank, another institution located in
that section of the city.
ID. c. Exchange Trading Active.
Trading on the Washington Stock Ex-
change today opened with ST 900 Wash
ington Gas SIS. 1860, at 1G31a Capital
Traction 5s appeared on the floor, $500
selling at so. Washington Railway &
Electric As were the most active bonds
on the list, three 81 900 and one $4,000
sales being recorded, all at a.
In the stock division Potomac Electric
Power 5l2 per cent preferred moved at
1861, while several small lots of Capt.
tai Traction moved at 13. Ten shares
of Merchants Transfer & Storage pre-
ferred sold at 30li. The largest stock
turnover of the day was in Washington
Railway &, Electric preferred, the stock
selling in a 50-share block and a z
snare lot at 80
Business in bonds on the New York
Exchange during November aroused
interest here today. the totals just be-
ing announced. Transactions in all
classificatlons of bonds ON the New
York Stock Exchange during Novem-
Der amounted to $296, ,939, 900, exceed
ing the October total of 1921 $50 900
and the November, 1882, figure of
S158,905,000 Daily average sales
were: Miscellaneous, S8,477,2O8; United
States issues, $3,897,333; all bonds,
S12,374,54l, and all bonds in November
last year. S6,621 ,041.
Trading in United States Govern
ment obligations at S93 $4,000 made it
the largest month since the June, 1924,
total OF S102, 1855, 900; the October fig
ure was 34,678. 600, and the November,
1882, total was S15,782,000.
Heard in Financial District.
A supplemental code for mutual saw
ings banks, concerned chiefly with trade
practices, has been set for public hear
ing before N. r. A. on December 81
The code filed by the Mutual Savings
Bank Code Committee would be made
part of the code approved by President
Roosevelt en- October 8.
Wholesale commodity prices increased
for the week ended December 8, ad-
vancing to TOO, compared with TOT for
the week ended December 2, a gain of
2-10 of l per cent, the Bureau of
Labor Statistics, Department of Labor
reports. The advance placed the index
within about l Ter cent of the high
OF the year.
Sales of American Stores Co. for the
four weeks ended November 25 were IA
per cent ahead of the like period year
ago. For the first IL weeks of the
present year, S5,203,7 or 5.8 per cent
above the record in the same months