Evening star., 1933-04-14

1898. These three trends accentuatou
sharply the persistent ndercurrent
toward recovery.
."Our financial structure also is being
rebuilt" the survey continues, ano
this fact taken in conjunction WIN tne
three decisively favorable commerciai
trends shows rehabilitation going Tor
ward through the economic structure.
The vast scope of reconstruction rend-
ers impossible a time estimate OF the
beginning of recovery although progress
toward it is daily more apparent.
"The steady downtrend in commercial
failures" the survey points out I'M
plies the probable completion OF the
Heaviest commercial liquidation. Prices
and activity have moved closely TO-
gether during the last six months.
Neither receded below the level OF last
Summer-an emphatically favorable
development during Fall and Winter
that were particularly trying to busi-
ness"
Starkey Celebrates Birthday.
George L. starkey, president Of the
National Bank of washington, passed
another milestone yesterday and was
not forgotten by his friends. A large
birthday cake sent to his home ex-
pressed the best wishes Of his closest
associates and gave him q happy sur
prise. The bank official Is as active as
he ever was and Is in the best OF
health. The home which Mr.. and Mrs.
Starkey occupy is on Michigan avenue
and Is surrounded by most SPACIOUS
grounds, permitting the raising OF
countless varieties Of flowers and for
years the owner has kept some OF the
highest-bred sheep In this section.
Er "a
a long and enviable record. He has
been connected with the National
Bank of washington for more than A
wears. starting as a runner when only
10 years of age. He worked up through
all the important positions in the bank,
being elected to the presidency IN 1924,
when Clarence F. Norment requested
to be relieved Of duty and was made
chairman of the board.
Mr.. Starkey is native OF Washing
ton and is member OF the Washmg-
ton Clearing House Association Execu-
tive Committee, a position which dur
ing the past year has been Of unusual
importance and responsibility.
Exchange Prints New List.
The washington Stock Exchange has
changed the form of its daily reports OF
business, the new sheet" coming cut
this week.
The exchange has been printing the
last sale price on each security, no
matter how long it might have been
since the last sale was made. the
board OF governors decided that no quo
tations should be given in this report
that was more than month old. Some
Of the quotations have been confusing
where lower sales had been made OF
the board, the public getting the wrong
impression as to the value OF their hold
ings.
The new method Of quoting local
securities will bring them all up to date
and investors will be able to see at a
glance the actual market value Of their
stocks and bonds.
The new daily reports are printed in
attractive type and have caused very
favorable comment among those who
have seen them. Ever since the bank
moratorium, when the exchange was
reopened for trading, business has been
q good deal more active than it was
early in the year. Bonds have been
the most in demand, but good many
stocks have also been popular. On the
local exchange, at least, business has
turned the corner"
Financial District Comment.
Washington banks were open as usual
today, but the broker houses were closed
on account of the Good Friday holiday
on the New York Stock Exchange.
A plan for reorganization Of the
Farmers Bank of Mardela Springs, Nd,
which would enable the institution to
open on a 100 per cent basis, has been
approved by John j. Ghinger, Maryland
State bank commissioner. The institu-
ticn Is now operating on a per cent
withdrawal basis.
Robert L. O'Brien, chairman, Of the
United States Tariff Commission, in an
address before the New York Board of
Trade, emphasized danger that national
istic feeling in protection Of home mar
kets, as expressed In the BUY American"
campaign, might spread locally in the
form Of Buy State" movement. He
says trade relations between nations is
the most important problem confront
ing the world and the new administra-
tion.
The total of banks admitted to mem
bership in the Federal Reserve system
since the banking holiday reached %
with the announcement by the Reserve
Board of the admission Of Sears Com
munity State Bank Of Chicago, with
capital Of 100000, and the Bank Of
Memphis of Memphis, Mo, with capital
Of 1000. Meanwhile voluntary with
drawals of banks from the system have
continued, now totaling 81.