Evening star., 1933-11-14

NiS SoHiNiS Edward T. bAltz.
will be composed Of
James Berry. Marvin A. Curtis and Ed
ward C. Baltz Mr.. Baltz. the secretary.
is one of the most active building and
loan men in the city and has held many
high Offices outside of his own associa-
ton.
The stockholders were informed that
the company's assets had increased
$500, 600 during the year ending Octo-
ber 20, 1888, and that the concern had
made $1,000. 900 in new loans during the
past IL months. Loans we're in such
condition that very few foreclosures
were necessary, the stockholders were
told.
The organization is the largest of the
kind in the city and ranks sixth largest
among the members of the United States
Building and Loan League.
ID. C. Brokers See Upward Trend.
The majority of stock brokers in this
city consider that the latest report on
the short interest in the New York
stock market indicates a wide belief
that the long-term outlook is much
more favorable than unfavorable.
The total short interest existing as of
the opening on october 81, as compiled
York Stock Exchange from its members
was 779,228 shares. The last published
figure as of September 29 showed total
short interest of 875 900 shares
The short position on october 81 last
was the smallest on record since the
New York Stock Exchange began the
practice of publishing short interest fig
ures in the Spring of 1881. The largest
short position reported was May 25,
1881, when total short interest was re-
ported at 5,589,700 shares.
Capital brokers state that the latest
report might not reveal such a light
short interest if good signs did not out
weigh poor ones. Enough progress has
been made in the last eight months, or
since the administrations recovery
plans were started, to lead to stronger
market when some present uncertain
ties are out of the way.
While most of the gossip in the board
rooms relates to the gold-buying effort
to raise commodity prices, trade. earn
ings, profits, industrial expansion and
host of other factors must not be
overlooked, brokers assert Just when
the next big move will come, nobody at
tempts to say.
Rail Presidents on Committee,
The Association of Railway Executives
has decided to reorganize its Advisory
Committee by increasing membership
from IL to Is members and establishing
the committee on regional basis, with
6 from the East, from the West and
3 from the South.
A. H Ashton has been reelected
chairman of the Executive Committee
and r. v. Fletcher has been reappointed
its general counsel. These men will be
ex-of1cio members of the Advisory
Committee, which will have its own
chairman.
At a meeting in Chicago the other
day three additional members of the
Executive Committee were elected ~
P. Pitcairn. receiver for the Wabash
Railway; c. NJ Hicks, president of the
Virginian Railway, and George b. Bag
by, president of the Western Maryland
Fiduciaries Section to Meet.
The next meeting of the Fiduciaries
Section of the District Bankers Associa-
ton. will take place Friday afternoon
at 4 o'clock in the board room of the
American Security SS Trust Co. Various
matters OF special interest to this de-
partment Of barking will come up for
discussion. This years officers of this
section are T Stanley Holland chair
man; Sidney F. Tahaferro, vice chair
man; David Bonet, secretary; James A
Soper and Irving Zirpel, members of the
executive council.
During the first 10 days of November,
13 national banks completed reorgani-
zation plans and were issued licenses to
resume business or were granted char
ters for new banks, Controller OF the
Currency O'Connor announces. Frozen
deposits of the banks which reopened
aggregated SIS, ,062 900 with unrestricted
deposits totaling 81 ,022,0
The lobby of the Commercial National
Bank was lively place again today as
further payments were made in connec-
ton with the disbursement of the sec
ond dividend since the bank went into
receivership last February. Checks now
being paid bring the total amount up
to so per cent SC far distributed to de-
positors.
Bonds Lead Exchange Trading.
Bonds were the most active securities
on the Washington Stock EXcnange
during today's session. The market
opened with $1,000 Potomac Electric
Consolidated SIS coming out at 1884.
The next bond sale was in Washing
ton Gas 6s series B, $500 moving at
1921. Washington Railway & Electric
Is moved TO the extent OF $500 at 3D..
Interest then turned TO Capital Traction
SIS which strengthened as the session
advanced. The first sale OF $500 was
made at 81, after which $1,000 changed
hands at 6l2s and 1000 and S5OO al
61ja
In the stock division the days only
sales were in small lots of Potomac
Electric Power 5la per cent preferred,
all made at 10512.
Noted in Financial District.
Secretary Woodin has announced his
full support of the Presidents monetary
policy, at the same time making the
following comment: THE President
has been good enough to consult me on
his plans from time TO time. l am
thoroughly in accord and heartily IN
sympathy with all Of his policies, anu
will back him to the limit"
The administration plan for expand
ing bank capital by issuance OF pre-
ferred stock, part Of which would be
bought by the r. T. c., has been ap-
proved by the Pittsburgh Clearing House
Association, also in Los Angeles
Bankers here say that many ether
clearing houses all over the country
have also approved it since New YORK
and Chicago took such action. 1t Is
left to the individual banks to decide
whether they wish to expand theiI
capital or leave as it is
The Georgia Central Railway has
requested authorization from the In
terstate Commerce Commission to es'
tablish a local passenger coach fare
of cents per mile, effective Decem-
ber ! until May 8. 1884.
Wholesale commodity prices ad
vanced sharply during the week ended
November II, according to the inde,
of the National Fertilizer Association
The index advanced 9 points to 69.-
from 68.5; during the preceding weel
the index declined points. The indel
noY is back to where it way Septem
beFs0.