Evening star., 1933-07-03

Stars files and
the records kept
by w. B. Hibbs g. a13ssss.-
Co. shows that A. S. Puelicher.
total transactions
in bonds amounted to $685. in the
first six months of 1888 while bond
sales on the washington Stock Ex-
change III the like period in 1882 totaled
$400,600.
This is an increase in bond transfers
of $363,300, substantial gain and one
officials of the local exchange. Bonds
have been in excellent demand all the
year. Trading in the new washington
Gas Light SIS, 1858, which was espe-
cially active some months ago, helped
a good deal in swelling the total, but
many other local bonds have been in
high favor Not only have the number
and amount of the transactions been
satisfactory, but price levels have also
been well maintained.
A comparison of stocks sales during
the half year is not so striking. Sales
in the first half of 1882 totaled 5,544
shares in the various issues listed on the
exchange In the same period this year,
the number of shares dealt in totaled
5432 a decrease Of 112 shares. However,
while more shares were traded in year
ago, the majority of shares this year
have been in higher-priced issues. This
makes the money volume considerably
larger than last year up to July l.
The outlook for business on the local
board during the last half year is
bright officials of the Washington Ex-
change expect to exceed that of the
first half year.
Puelicher Well Known Here.
Albert S. Puelicher, recently elected
president of the American Institute of
Banking, already has a wide acquaint-
ance among the members of Washing
ton Chapter and Is greatly admired for
his ability. He was born and reared in
Milwaukee, is university graduate and
q member of the Wisconsin State bar.
Like all the other A. I. B. officers, he
Is young man.
He began his banking career as
messenger in 1918, when he was en-
ployed part time by the Marshall &
Ilsley Bank of Milwaukee at the same
time he was attending high school. He
has continued his work in that bank,
with the exception Of one year, during
1918 and 1919. when he served in the
United States Navy.
Mr. Puehcher received his first real
recognition when he was elected assist
ant cashier of his bank in 1921. Just
five years later he became assistant vice
president, as well as member of the
board of directors, and three years later
in 1929, was made vice president which
office he holds at the present time
Not only has he been active in the
bank, but he has been an interested
worker in Milwaukee Chapter and Wis
consin State Chapter CT the American
Institute of Banking and in the Mil
waukee Young Mems Christian ASso-
citation. In 1928 he was elected vice
president of Milwaukee Chapter and
the following year served as its presi-
dent. In 1880 he was elected to the
board of directors of the Milwaukee
Y. M. c. A. and in February, 1892 he
accepted the vice presidency of that
organization.
He has attended every annual con-
vention of the institute since 1920. At
the annual convention in Tulsa in 1929
he was elected member of the
executive council for period of three
years and at Los Angeles in 1882 was
elected vice president. He was elected
president at the Chicago convention.
c. & p. Phone Progress Noted.
The Chesapeake & Potomac Tele-
phone Co. is distributing a most inter-
esting booklet, entitled "A Half Gen.
tury of Telephone Progress"
Washington has played a great part
In the history of the telephone, the
book says. Alexander Graham Bell, its
inventor, was for many years a resident
of Washington. So was Gardiner G.
Hibbard, whose vision and courage
brought to the telephone business in its
early days the financial resources which
were absolutely necessary.
The first telephone in Washington
was put in service just 18 months after
Mr.. Bell had received a patent on his
invention. 1t was installed in the Office
of the chief signal officer of the Army
in October, 1877, and connected the
Office with Fort Myer. Va. A year later
number Of private lines were installed
for the use of Washington business men.
The telephones were leased from the
American Bell Telephone Co., holder of
the patents, by the local company,
which was called the Capital Telephone
Exchange. The Chesapeake & Potomac
Co., was incorporated in 1888. In those
days telephoning was a luxury enjoyed
only by the rich and long distance"
reached only to Baltimore.
Many other equally interesting facts
are contained in the booklet, which also
has pictures of several of the local
exchanges and foreword by John A.
Remon, general manager.
Sisson on Future Of Banking.
eve are facing many and difficult
problems in the banking business to-
day Francis H. Sisson, president of
the American Bankers Association, said
to the members of the Virginia Bankers
Association at Hot Springs THE
criticism and the discredit which have
been directed against bankers during
this period Of economic reaction have
brought about a wrong public attitude
which complicates all that we undetake
to do. The drift toward socialistic
theories and government control of and
interference in business will affect our
whole course.
Fewer banks, more adequately
capitalized, better supervised and bet
ter managed, Standardization of laws
and methods. greater and more intelli-
gent cooperation between Government
and banking, better understanding by
the public of its joint responsibility in
maintaining banking solvency and ef-
ficiency-these are the primary princi-
pies Of banking reform Such a pro-
gram will have the eager support Of all
good bankers"
Heard in Financial District.
The Washington Stock Exchange took
O day of today in accordance with ac-
ton taken by the board Of governors
last week. It will resume business
Wednesday.
Today's active New York Stock Ex-
change kept the local broker Offices
crowded during the session. The tre-
mendous buying wave just before q
holiday caused great surprise.
Much favorable comment was heard
today regarding the standing committee
chairmen selected and announced by
George o. Vass, president of the District
Bankers Association. They are all ex-