Evening star., 1934-02-09

an intimate dis 2
cusS ion OF ma Karl W. Corby.
tional and inter
national finance When they returned
later in the evening, in atmosphere
that was even more tense, their headS
were bulging with new ideas on eco
nomics.
The guest speaker was Leo Pasvol-
skv member of the staff of the Brook
ings Institute. Mr.. PaSvolsky was
observer for the institute at the Lon
don Conference and is the author OF
several books. including current
Money Issues and The Necessity Tor
a Stable International Money Stand
ard" In his address last night he
gave a vivid picture of the present
monetary situation both here ana
abroad. The rapid fire of questions
following his remarks was especially
helpful to the members.
President Corby summed up the
work of the club during the past year
and praised the other officers TOR
their brilliant service and support
The vice president of the CLUB Is
Thomas w. Brahany. while the sec
retary and treasurer ! Ralph M
Wolfe. Mr.. Corby f9cetiously re-
marked that probably ne most I'M
portant accomplishment of the clGo
during the wear was the reopening OF
the banks after the March mora
torium.
~. & w. Officers Reelected.
Stockholders of the Norfolk d
Washington Steamboat Co. held their
annual meeting and elected the iol-
lowing directors: E. c: Branoenours'
H. N. Brawner, jr.; WrlSley Brown,
G, w. Forsber2, William d. Hoover
c. F. Norment. sr.; c. F. Norment
jr; George P. Sacks, Odell >. Smltn
and George L. Starkey.
At subsequent meeting the follow
Ing officers were elected to serve dur
ing the ensuing year:
c. F. Norment. ST.. chairman OF
the board; c. F. Norment, j., presl-
dent; G. w. Forsberg, vice president;
E. c. Brandenburg second vice pres
ident and general counsel, O. 5.
Smith. ecretary-treasurer: j. A. Rlor-
don, general manager, w. H. Gala
han, traffic manager; l. S. Walker
general passenger agent; j. A. Max
well. auditor; G. E. Herring, purchas-
ing agent; D. Sawyer, experimenting
engineer; L. H. Pitzler, freight claim
agent: C. H. Ray. general agent,
Washington: P M. Pritchard, general
agent, Norfolk; H. N. Larconlbe, agent.
Alexandria, and c. S. ReveN, JOINT
agent, Old Point Comfort.
These same officers and directors
have served the boat company for
many years. The vacancy on the
board caused by the recent death of
Woodbury. Blair was not filled, the
board now being made up of 10 men,
bers.
Federal American Claims Asked.
More than 5000 1000 is awaiting dis
tribution to depositors Of the Fed
eral-American National Bank who
have not yet filed claims with either
the former conserVator or the re-
ceiver, according to Garry A. Hardee,
receiver.
A recent legal notice published by
the receiver stated that those who
have not filed claims should do so at
once. That, it is understood, created
some confusion in the minds of some
who had already filed claims with the
former conservator Of the Federal
American. Receiver Hardee says that
this notice did not apply to those
whose claims are already on file and
who have been paid so per cent
dividend on their deposits, but was an
effort to bring in the claims OF sew
eral hundred dcpositors from whom
no claims have been received.
Approximately s4.050,0O0 of the
total liquidation fund of S4265, 900
set up to pay the first so per cent to
depositors, has already been disbursed.
Toomey Heads Insurance Firm.
Vincent L. Toomey was elected for
the ninth time as president OF the
Mutual Investment Fire Insurance Co.
of the District of Columbia at the
annual meeting yesterday. He is a
member of the law firm of Toomey e.
Toomey, lecturer Oh law at Catholic
University and a director and trustee
of the Columbia Polytechnic Institute.
NJ. Frank Rupert was elected vice
president H. H. Carter, secretary, and
Franklin P. Nash, treasurer. The
company Is beginning its thirty-eighth
year.
The president reported substantial
business pickup during the past II
months.
Exchange Closes Monday.
The Washington Stock Exchange
adjourned at the end of todays ses-
sion until Tuesday on account of the
observance of Lincoln's birthday ami
versary on Monday. All Washington
banks, however, will be open for busi
ness as usual, as February u is not a
legal holiday in the District.
Today's trading was confined wholly
to bonds. One $1,000 sale was re-
corded in Anacastia g. Potomac Rail-
road SIS at 5834 and two more $1,000
sales took place at SO fiat. Capital
Traction IS noted a $1,000 sale at 72
and ST 1000 Washington Gas Light SIS,
1858. came out at 49,
All local Offices Of New York Stock
Exchange houses will also be closed
next Monday.
Insurance Sales Improve.
Earl D. KreWson. director of the
Washington agency of the New York
Life Insurance Co.. is enthusiastic
over the turn in business conditions
here. He reported today that his Of
flee showed an increase in January
over January year ago OF $50 per
cent in the number of paid applica-
tions and an increase of 1873 per cent
on the volume of paid business.
The directors of the American Tele-
phone & Telegraph Co., meet in q
week and Wall Street confidently eX-
poets the regular S2.25 dividend, The
company's business has been going
nicely since January /, and it Is un-
derstood that both stations and
revenues of the Bell System as
whole are increasing.
Virginia Electric &, Power Co. ha:
declared the regular quarterly dividend
Of sl.50 on the Sc preferred, payable
March 20 to stock of record Feb
ruary %.
cTIVEP 0II0TATI0Nc