Evening star., 1934-12-13

Mr. WOTCnlng-
ton was born in 1880 at Alexandria,
Va, and educated at the Episcopal
High School. Shortly after he left
school, he entered the banking busi-
ness in Washington where he spent Is
years, the last 10 as an officer. While
cashier Of the Merchants g. Mechanics
Savings Bank he introduced to Wash
ington the Christmas Savings Club
plan. This was the third Christmas
Savings Club established in the United
States, the only prior ones being at
Harrisburg, Pa and York, Pa
Mr. Worthington has served the Life
Underwriters Association as secretary
treasurer, vice president, member Of
the board of directors and Executive
Committee.
Walsh Returns to Insurance.
Edward J. Walsh, who has been en-
gagged in investment banking for the
past five years, has decided to re-enter
the insurance field in which he was
very active for many years. He has
been appointed Washington agent of
the American Insurance Co. of New
ark, NJ j., and will open an Office in
the Shoreham Building.
Mr.. Walsh was the first president
of the District of Columbia Under
writer's Association. He was one Of
the chief owners and vice presidents
of the Washington base ball club for
II years A graduate of Georgetown
University, he is member of the
Chamber of Commerce, the Board of
Trade, also of the Alfalfa Club and
the Lambs Club of New York.
Word has been received here that
John r. Gavin, manager of the Wash
ington Office Of C. F. Childs & Co.,
has been appointed by Gov Ruby
Laffoon as a colonel on his staff.
Munsey Declares Dividend.
Directors of the Munsey Trust Co
have declared the regular quarterly
dividened of 81 share on the COM
pany's stock and also an extra divi-
dend of 25 cents per share. Both
shareholders of record on December
%.
The largest bank dividened de-
clared this week was voted by the
directors of the First National Bank
New York, who declared the regular
quarterly dividend of s25 a share.
payable January 20 to stock of record
December 20.
Sales of American Stores Co.. which
operates 80 stores in Washington, are
running ahead Of last year, accord
ing to latest reports. Sales for the
four weeks ended December totaled
$8,744,032 or l.9 per cent ahead of
the same period last year. For the
first IL months of this vear sales
were "A per cent better than in the
like period in 1888.
Today's Trading on Exchange.
Trading on the Washington Stock
Exchange today opened in the bond
division. Capital Traction SIS sold at
co. Washington Gas SIS. 1853 moved
at 99la and Washington Railway g.
Electric As changed hands at 9824. At
the close of the market $500 Capital
Traction SIS sold at 8934.
Capital Transit stock sold today at
~. Lanston Monotype was out again
at 48. Potomac Electric Power per
cent preferred registered ITO. Wash
ington Railway & Electric preferred
was strong at 10l and Mergenthaler
Linotype was better today, small lot
changing hands at 80.
Insurance Congress Planned.
F. George Clendaniel president of
the District of Columbia Life Under
writer's Association, outlined plans for
the coming joint sales congress OF
the Washington and Baltimore as
sociations, at the December meeting
held this noon at the Willard Hotel.
The congress will be held here Janu-
ary IS. It is yearly event, which
has become very popular. j. E. Nc
Combs gave the membership drive a
boost and Rev. Allen A. Stockdale
made q stirring inSpirational address
along insurance lines. The attend
ance was unusually large.
Heard in Financial District.
Leonard P. Ayres calls for aband-
onment Of N. r. A. when the act ex-
pires next June It should be replaced
by q new act to reduce regulation and
restore competition, he said. Un-
balanced budgets and the securities
act are also obstacles to recovery, Col.
Ayres believes.
The Interstate Commerce Commits
sion has approved the issuance by
the Lehigh Valley Railroad of $685.
900 equipment trust series "V" Of
1884. Approval of the issue was re-
quested in connection with P. w. A.