Evening star., 1934-10-30

anxious as in Ss
vestment dealers
to make the laws r,-I u,xcoct
Workabla.
Washington investment bankers are
greatly interested IN the meetings
now being held at the West Virginia
resort. The tone of the seasons lndi-
Gates that there is little worry over
the commissions attitude toward good
securities. This IS a view that has
been held in the financial district
here for several weeks. Furthermore,
the best opinion here is that there
must be some really important and
constructive financial news before the
markets will have much of an ad-
vance.
Mr. Whitney urged close co-opera-
ton with the Securities and Exchange
Commission by the investment houses
all over the country. Some moditlCa-
ton of the securities act OF 1884 is
held desirable by some Of the dele
gates at the convention and efforts
will be made toward bringing this
about.
President Bovenizer Of the associa-
ton reported that the securities act
has been made a much more work.
able instrument" during the past
year. He says the fair practices pro-
visions of the investment bankers
code have also proved great step
forward. in his opinion greater step
forward than the securities act.
Haycock Given Special Honor.
- 81,
National Bank, is receiving congratu-
lations over his election by the Ma
tional Association of Bank Auditors
and Controllers as national committee
man for the fifth Federal reserve dis
trict. The national convention was
held here last week Mr.. HayCoCk has
been connected with Riggs Bank for
several years and has been leader in
the auditors section OF the District
Bankers Association.
The special study of the Federal
Reserve System by the Reserve City
Bankers Association is progressing
satisfactorily, though its completion is
not anticipated in the immediate fu-
ture. Lyman E. Wakefield, president of
the First National Bank & Trust Co.
of Minneapolis. stated while here last
week. The study vas lnaugurated
some weeks ago through appointment
of a special committee headed by Prof.
Harold L. Reed of Cornell University.
The survey, which goes into results of
Reserve Board operations in the past,
is of general nature and does not have
as its objective formulation of future
concrete programs, Mr.. Wakefield said.
Receiver Paying Out S313,944.
Distribution of 1913, 944 to 1000 de-
positors in the insolvent Seventh
Street Savings Bank was started today
by the receiver, Norman R. Hamilton,
at 1900 Seventh street.
This is a 80 per cent dividend and is
the second payment of the kind made
since the bank was closed. The flrSt
payment was so per cent, in Septem-
ber. 1888. BY the end of this week
more than 100000 will have been re-
turned to depositors, or so per cent
After this week. remaining pay
mentS will be distributed at the former
Office of the District National Bank,
1906 G. street, where Receiver Hamil-
ton is closing up the affairs of five
different banks Present payments
are being made in the office of what
is now the Seventh Street Branch Of
the Hamilton National Bank.
A dividend of 20 per cent is also be-
ing paid depositOrs of the old Wash
ington Savings Bank. This is in ad-
dition to the previous payment of so
per cent. During the past few days
depositors in the Northeast Savings
Bank have been receiving a 25 per
cent dividend, added to the so per
cent previously paid.
Acacia Honors P. L. Rogers.
The goth anniversary of his asso-
citation with the Acacia Mutual Life
Insurance Co. this week is being
marked by P L. Rogers of the COM
pany's District of Columbia branch.
In his honor, agents of the District of
Columbia branch are engaged in a
contest through which the veteran
Acacian will be presented with an
annuity policy.
During the 20 years Mr.. Rogers has
been connected with Acacia the COM
pany has grown tremendously, now
national list Of old line insurance or
ganizations. The home Office of Acacia
is located in this city.
Mr.. Rogers is vice president of the
District of Columbia Life Under
writers Association, and is one OF the
most widely known insurance men in
the Capital He is an original mem
ber of the William Montgomery Quail
ity Club.
Exchange Business Picks Up.
Business was better on the Wash
ington Stock Exchange today the first
sales being $1,000 transfers in Ana
costa & Potomac R. R. SIS at 1914
Later two more 1000 sales were re-
corded in the same issue at 78. Wash
ington Gas SIS, 1860, again moved at
10812.
The first stock sale was in Wash
ington Railway g. Electric preferred,
which changed hands at 1902. Ten
shares of Riggs National Bank pre-
ferred stock sold at 105. Washington
Loan g. Trust, Washington Gas Light
and Emerson'S Bromo-Seltzer are now
being quoted ex-dividend in anticipa-
ton of dividends to be paid in a few
days.
The Washington Office of Hemphill,
Moves g. Co. announces that Wilton
Puder has been appointed manager of
the Government bond department II
the New York office. He has recently
been associated with another we'll
known New York Stock Exchange firm.
The Virginian Railway reports for
nine months ended September 80, 1884,
net income of S2,453,3l2, after taxes
and charges, equivalent. after dividend
requirements on 6 per cent preferred
stock, to 1892 a share on 312,7l5
shares of common stock. This COM