Evening star., 1933-12-19

NeTSdIN. 10 All II
we'll wishers he re- I'm - Il
piled he had
thoroughly enjoyed Rolfs Railing
his past two years
connection with the bank in spite of
national conditions which have made
the banking business more or less
arduous.
In looking toward 1884. Mr.. Boiling
says he is sure that conditions will
continue to improve; that business will
be very much better than in 1888. Just
how early in the new year marked i'm
provement will be noted is uncertain,
he says, but with all the efforts being
made to help business and economic
conditions, results are bound to be
favorable. A lot of patience is required
and some people have no patience, the
bank official commented today, adding
that all economic difficulties of course,
are not going to be overcome at the
same time.
Mr. Boiling bases his optimistic pre-
dictlonS for 1884 on the various in
dicators which he has studied closely
during the past year. These indiCeS
not only tell what has happened during
1888. but by their upward trend picture
what is most likely to take place in the
next y months. No doubt Mr.. Boiling S
OpllHl1SIn IS aIoO SlIGISlIlSIlSO Dy lIlG
sharp gain in deposits in his own bank
during the year now ending.
Mr.. Boiling resigned as vice president
of the Federal-American National Bank
& Trust Co. and manager Of the branch
at Fifteenth and H streets, to take the
wheel at Liberty National For years
he was associated with Peter A. Drury
in the Merchants Bank & Trust Co,
and was elected president OF the bank
when Mr.. Drury voluntarily retired.
That institution afterward merged with
the Federal-AmeriCan. His move to
Liberty was only one city block to
Fifteenth and 1 streets.
Born in Arlington, Va, a member of a
ditinguished Old Dominion family he
got his real start in banking in Balti-
more. After organizing two different
banks in Panama, he was in a New
York bank some years. AT one time
Mr.. Boiling was president of the Com
mercial National Bank in this city,
He is a brother of Mrs. Woodrow Wilson
and has been an active hnancier over
four decades.
Gold Leak" called Only Speed.
1t develops that the now famous
.gold leak" whereby prices got to Lon
don so quickly that it caused a Treas
ury investigation. was not a leak at
all but merely rapid service on the part
Of a New York Stock Exchange house
which maintains a London Office.
At least that is the claim made by
G. NJ. P. Murphy & Co.. which has
had a brokerage Office on H street in
Washington for many years Col. G. NJ.
sent a letter to the office here which
states that the price of gold was taken
from the Dow-Jones ticker in New York
and instantly placed on the London
cable SO that it was in London only a
few seconds after it was sent from
Washington. This letter has been
posted on the bulletin boards in all the
eompany's Offices outside of New York.
- Charles Carroll Morgan and A. Ches-
TER Flather, managers Of the Washing
ton Office, smile broadly when refer
ences are made to the leak" They
point with pride to the communication
from the head of the firm which they
say tells the whole story.
- The price of gold is said to be fixed
daily by Secretary Morgenthau and
Chairman Jesse H. Jones of the R. F. c.,
after suggestions have been made by
Prof Warren. The Dow-JoneS repre-
Sentative here obtains it the moment
It is announced and puts it en- the New
York wire 1t goes instantly to every
broker Office in the United States which
has the service.
!, It is relayed from New York to Lon
don. AS it is known about what time
ii is announced here, a cable can be
Kept open and only few seconds lost
IN the transfer in New York. Other
cables might be busy at the moment
IN conveying other financial news of
Importance. officials of c. NJ. p.
Murphy & Co claim that is what hap
pened, rather than that any unknown
person in the Treasury rushed 10 a
telephone and gave cut the figure il
advance.
Unless there is an important change
in the price, there are no great profits
to be made in London In case of q
change in price large enough to drive
the dollar up or down, it would be pos
sible to exchange American money into
English pounds and make profit in
that way. Today's price was again
S3406 an ounce, unchanged from yes
terday.
Local Banks Vote Dividends.
Directors of the Lincoln National
Bank have declared 2l2 per cent
semi-annual dividend, payable. January
2 to stockholders of record December
20.
Directors of the Bank of Bethesda
have voted 1ls per cent seIni-annual
dividend which is payable December 81
to shareholders of record December 20.
National Union Fire Insurance Co.
directors have declared a 7 per cent
semi-annual dividend, payable Decem-
Der 81 to stockholders OF record Decem-
ber %.
The directors of Woodward & Lothrop
have voted a quarterly dividend of 80
cents per share on the common stock
and the usual ia per cent dividend
on the preferred stock. Both are pay
able December % to holders of record
December 20.
Prices Steady on Exchange.
Trading on the Washington Stock
Exchange opened today with Potomac
Electric Power 512 per cent preferred
stock selling at 1852. The same cor
poration's per cent preferred moved
at 1091s.
Lanston Monotype appeared on the
board today. very small lot selling at
As. The only other stock trading was
in Railway e. Electric preferred, 10
shares changing hands at 81
In the bond division 5000 Washing
ton Gas 6s series B. moved at 1o1
Washington Gas IS, 1860, figured in a
$1,000 sale at 103l4, while Washington
Railway & Electric As recorded two
$1,000 transactions at "a.
All the days prices were practically
unchanged from recent levels.
Heard in Financial District.
Acting Secretary of the Treasury
Morgenthau stated that purchases OF
Government bonds during the week
ended December 16 totaled S16,6 800 900
of which $10,0o0.0o0 was for the sink
ing fund and the remainder for in
veStment account" such postal saw
ings. farm credit and the Deposit
Guarantee Corporation.
Unless changed for bonds by January
!, interim receipts of Home Owners
Loan Cnrnoration cease 10 paY inter.