Evening star., 1934-01-30
CAPITAL BROKERAGE.
ROOMS CROWDED
Increasing Public Support of
Market Reported as
Prices Rise.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Despite cold weather, board rooms in
In Washington Offices of New York
Stock Exchange firms were crowded
again today when the translux flashed
along the first quotations of the session.
buyers around the floor" was among
the telegraph notes reaching local offices
Just before the market opened.
This indicated higher opening and
many issues started off above where
they closed yesterday. Trading was
very active New York reports infer
that the public is now more active in
both the speculative and investment
sections of the market than for several
months
The same view is held among brokers
In this city. So far as Washington is
concerned, they report definite in
crease in stock market interest. The
greater volume of trading each day
backs up the claim.
Today's early market was highly salts
factory. Trading covered very wide
range, with a majority of the issues
selling at higher prices In spite of the
fact that stocks have already had
marked advance since the first of the
year, gossip in the board rooms here is
mainly optimistic, based on industrial,
business, trade and banking progress
made during the past few weeks.
Sees Large 1884 Savings Gains.
A large increase in savings deposits
and further reduction of interest rates
on time deposits may be expected in
1884. according to Henry S. klngman,
president OF the savings division of the
American Bankers Association.
The speaker reported to the regional
savings conference in New York that
Government aid to the banks has re-
moved public fear of banks and that
the return of money from hiding, eX-
penditure of Government funds and
the shift from demand to time deposits
will increase savings bank deposits.
The investment of new savings in short
term Government bonds will result in
lower interest rates, he said.
A. H. Giannini, chairman of the Gen.
eral Executive Committee of the Bank
of America, III an address on Banking
Faces a New Day" said that the real
menace to our future does not come
from the currency innovatorS.
If banking is TO survive in the form
In which we have known it we must
during the next decade resell the pub
lie on the principle that thrift, the
private thrift of the saving individual,
Is a personal as well as a social neceS-
sity, means Of social as well as indi-
vidual protection. the SureSt way for
the Nation as we'll as the individual to
security and legitimate profit"
Fayors Securities Act Changes.
Secretary of Commerce Roper reports
that the committee which has been
studying the securities act will make
suggestions toward notifications of the
law in statement which he plans to
forward to the President soon. 1t has
been hinted for some time that some
easing up of the present regulations is
likely While very few new issues have
been brought out since the new law
went into effect, the claim is made that
lack of investment demand rather than
the rigid rules has held back new
securities
General agents of the - regional
organizations of the Farm Credit Ad-
ministration and the presidents Of the
II Federal Land Banks met in joint
session Monday with washington Off
cials of the F. c. A. to discuss the gen.
eral policies affecting the lending ac-
tivities of the administration as a
whole. A further session will be held
to discuss the Federal farm mortgage
corporation bill recently passed by
Congress, which will cause a change |
in the procedure of making farm mort
gage loans in that the farmers credl- |
tors will be paid with the bonds of this |
corporation in lieu of cash.
Insurance Trustees Reelected. ,,
All trustees of the Mutual Invest
ment Fire Insurance Co. of the Dis
trict of Columbia have been reelected
for the coming year, it was announced
yesterday at the conclusion of the an
nual stockholders meeting. They in
clude Horace L. Beall, Franklin P.
Nash, H H. Carter M. Frank Rupert,
Vincent L. Toomey, Harry kaufman
and Vernon G. Owen.
John G. Kolb has been elected an
assistant vice president Of the Acacia
Mutual Life Insurance Co. Mr.. Kolb
is we'll known in the financial district
and has been connected with the Acacia
Mutual for about five years.
The New York City Bank stock
market reacted moderately during the
past week, according to records COM
piled by Holt, Rose & Troster. The
aggregate value of the 16 leading issues
at the close on January 26 stood at
81 ,438 8934,0 900, which total represented
a decrease of 200, or 3.35 per
CtIlU, COUlJdItu Will dIl dSSlCSdlC NdluC
of 81 ,488, ,848,0 900 established on jan
uary 19.
Woman Joins Hartman Staff.
Miss Rosalie H Dill, who has been
connected with the Washington office
of Goodbody e. Co. for some time, has
become affiliated with the main Office |
here of Hartman e. Co. according to
announcement made today by Maj. |
Ferry K. Heath, resident partner and
manager of the Office Miss Dill will |
be a customers man, or customers |
woman, which ever the correct title |
happens to be. This is similar po- |
sition to the one she held with Good |
she was with Hartman g. Co before |
she went with the other Stock Ex- |
change firm, so is already acquainted |
with many of the patrons |
It was stated in the flnanial dis |
trict today that Washington Chapter. |
American Institute of Banking, will |
soon start plans in earnest for the |
coming national institute convention, |
which takes place here in June. T.
Hunton Leith. assistant cashier of the |
Security Savings e. Commercial Bank, |
Is the general convention chairman.
Today's Trading on Exchange.
The first sale on the Washington !!
Stock Exchange today was in Potomac |
Electric Power preferred five shares |
selling at the strong price of l12. |
The same corporations sig per cent |
stock sold at LOT. Mergenthaler Limo |
type figured in two 10-share sales at %. |
In the bond division Washington
Railway g. Electric as recorded two
$1,000 sales at 84i2 and one $500
transfer at 8414 Washington Gas IS,
series B. were the other bonds traded
in today, selling at 1922 in small
denominations.
Capital Traction attracted good deal
of attention again today, but no sales
were recorded. The stock closed yes