Evening star., 1933-06-06

IGSE1ltdJ1tCo Va sAAS Z
firms belonging to 4
the Washington
Ticker Club and A
representatives OF
the membership of
the Washington
Bond Club have
been invited to at
tend. Frank j. Hogan.
Eugene r. Black,
governor of the Federal Reserve Sys-
tenn, will be the guest speaker, and
Frank j. Hogan, counsel for the Riggs
National Bank of the District Bankers
Association, and far famed as toast
master, was turning over some OF his
best Jokes in his mind today prepara-
tory to taking over those duties Thurs
day evening.
As previously announced, the associa-
ticn will have its business meeting IN
the forenoon when annual reports Will
be read, followed by election of officers
for the coming year.
Marston Joins Goodbody & Co.
Peirce Marston, for years a member
of the New York Stock Exchange firm
of Smith. Andrews g. MarSton, in Baltl-
more, which retired from the brokerage
field some time ago, has become asSocl-
ated with the Washington office OF
Goodbody g. Co., Bernard A. Smyth, the
manager, announced today.
Since his own brokerage f1rm dis
solved. Mr.. Marston has been engaged
in the investment business in Baltimore.
He has come here and already has
taken up his work with Goodbody g
Co. in the Washington Building. He
has had unusually broad experience IN
the brokerage field, both from the IN
vestment and speculative viewpoints.
Manager Smythe also announced TO-
day that George o. Riggs has become
associated with the Washington office.
He is the son Of Col. Riggs, executive
oficer of the United States War College.
The Young man started in the broker
age business in the New York ofhce OF
E. A. Pierce & Co.
Pope on Georgetown Gas Beard.
C. H. Pope, vice president and treas
urer, Munsey Trust Co., and president
of District of Columbia Bankers AS
sociation, has been elected director
of Georgetown Gas Light Co, It was
announced yesterday, following the an
nual meeting of stockholders. He sue,
seeds George B. Fraser, who resigned
some time ago.
Directors reelected were Admiral
Cary T. Grayson, Wilton j. Lambert,
Marcy L. Sperry, Sidney F. Taliaferro,
Corcoran Thorn and Robert D. Weaver.
The directorate of Georgetown Gas Light
Co. is now the same as that OF wash
inpton Gas Light Co., it was announced.
The meeting of organization VIII be
held June %.
Bond Club to Hear Keyser.
Frank p. Morse, elected president OF
the washington Bond Club last Fri
day. has arranged and called speclai
meeting of the club for Friday after
noon in the board room OF the Amer
ican Security & Trust Co., when Paui
v. Keyser, legislative counsel for the
Investment Bankers Association, WIZ
explain in detail the new securities act.
Mr.. Keyser has followed the new law
from the day of its announcement by
the White House, through the various
changes in its provisions resulting from
hearings before the Banking Commit
tees of the House and Senate and de-
bates of its controversial features on
the floors of Congress, up to the ulti-
mate passage of the act little more
than a week ago.
There is particularly keen interest on
the part of brokers and bankers In the
new law because Of the drastic liabili-
ties it places on dealers as well as on
corporations whose securities are Of
fered for sale. For that reason Mr..
Keyscr's Interpretation of the law
should prove exceedingly valuable to
officials, stock exchange representatives
and heads of investment banking firms.
Bids Asked on Sanitary Bonds.
Sealed bids for the purchase of $780,
900 Washington Suburban Sanitary Dis
trict bonds, series BIB, have been asked
by the Sanitary Commission, T. How
ard Duckett, chairman. The bonds are
to pay 5 per cent interest, run for SO
years and be dated June l, 1888, al
though they are redeemable in 80 years.
The bids are to be received at the
commissions office in the Tower Build
ing in this city. They will be opened
on Friday, June 16. The bonds carry
land municipal bonds and are guaran-
teed as to principal and interest Mont
gomery and Prince Georges Counties.
Reelection of all officers and direc-
tors of Oriental Building Association,
No. 6, was announced yesterday follow
ing the annual meeting. They are:
Charles H. Bauman, president; Henry
E. Deckman, secretary; Charles w.
Schaefer, treasurer: Carl Haneke, G.
H. Schultze, John j. Kolb, William
F. Ochsenreiter, August G. Hermann,
Chaplin B. Bauman. Charles Schaefer,
Thomas B. Young, Benjamin H. Park
er, directors.
Sisson Sees Significant Signs.
Commenting on the advance in busi-
ness activity and prices in the last two
months, Francis H. Sisson, vice presi-
dent Of the Guaranty Trust Co. and
president of the American Bankers As
sociation, speaking before the New York
Building Congress- said that regardless
of the inf1ationary question, there are
reasons for believing that sound and
natural influences are at work.
The downward movement has al
ready continued almost as long as any
similar recession in the past" he said.
1T Is not unreasonable to conclude
that readjustment has been largely
completed and has laid the ground
work for a sound recovery. Still an
other encouraging sign is that the dol
lar has recently shown greater strength
in exchange markets without halting
the domestic price recovery. This tends
to show that the price advance rests
upon somewhat flrmer base than dol
lar depreciation"
Lively Day on ID. C. Exchange.
The Washington Stock Exchange
seemed to catch the spirit of the New
York Exchange today and trading was
the most active in many weeks. The
market opened with three 81 900 sales
in Potomac Electric Power IS at lot
Georgetown Gas Light IS figured
$1,000 and $4,000 sales at 1929 and
$500 at 10212. Washington Railway &
Electric As came out on the board in a
1000 sale at 86A, $4,000 at 86A2 and
81 900 at 86%.
The first stock sales were In Potomac
Electric Power 51z per cent preferred
two r1iay,e hafr7o ~ 10 nj IneH.