Evening star., 1934-10-05
A. B. A. WILL HEAR
TALK ON HOUSING
Law Announces Additional
Feature After Visit at
White House..
BY EDWARD c. STONE.

To the already crowded program
OF the American Bankers Association
Convention has been added Is minutes
for explanation by the Federal HouS
ing Administration of the national
drive now under way. according to
announcement by President Francis
NJ. Law. before he left Washington
last night after a conference with
President Roosevelt.
Housing administration officials
we're elated today over the prospect
of bringing their cause to the leading
bankers of the Nation who meet here
the last of this month.
President Law had a very inter-
esting talk with the President, an
nouncing later that the Chief Execu-
tive would discuss the economic con-
dition of the whole country as a
part of his address at Constitution Hall
on the evening of october "a. The
President will, of course, be given
as wide a range of subjects in his
address as he may wish to touch
upon. His remarks will be carried
by radio to every corner of the coun
try and will be of interest to every
body inside and outside the banking
profession.
Mr.. Law added that there is a
mistaken idea that there is friction
between the President and the Ma
tionS leading financierS. The bankers
want recovery as much as any one
else, he said, perhaps more. Il am
just as sure that it will come as
am that l am standing here" he said
The A. B. A president is most
enthusiastic over the coming conven-
ton. He declares it will be one of
the most important ever held and
considers Washington the ideal place
for it since it makes possible the in
Clusion Of so many Government Off
cials on the program.
1t has been learned that bankers
outside of Washington are not nearly
as well informed on the aims of the
housing campaign as are the bankers
here. For this reason the Housing
Administration is planning meetings
in 80 industrial centerS to carry the
message of the better housing pro-
gram to other parts of the country.
New A. b. A. Election Plan.
change in the method of electing
officers for some time. There will be
no change this year, it being a fole-
gone conclusion that R. S. Hecht will
be moved from first vice president to
the presidency and that Robert V.
Fleming will be advanced from sec
ond vice president to first vice preSi-
dent. The following Associated Press
dispatch from New York, however, is
OF special interest:
"A change in the election procedure
of the American Bankers Association
has been proposed for action by con-
stltutlonal amendment at the annual
convention in Washington October %
to 25.
Thomas B. McAdams, president of
the Union Trust Co. Of Baltimore, who
submitted the proposed amendment,
said: The object is to make compul-
sorry the recommendation by the Nom-
mating Committee OF not less than
two candidates for the Office of sec
ond vice president of the American
Bankers Association
Adoption of the amendment, &c
was pointed out. might break the ira
dition of succession in Office. 1t
would not, however. become effective
until after adjournment this year"
Trust Company Votes Dividend.
At the regular monthly meeting of
the board of directors of the Wash
ington Loan g. Trust Co., just held,
quarterly dividend of 2 per cent was
declared, payable November l to stock
of record October 23 Books will be
closed between those dates. This will
make the 168th consecutive dividend
paid by the trust company since its
organization.
The Columbia Gas e. Electric Co,
which supplies the Washington Gas
Light Co. with natural gas, has de-
clared the regular quarterly dividends
Of 81 so on the per cent preferred
A, 1925 on the per cent cumulative
preferred and SIPS on the 5 per cent
convertible preferred stock. all payable
November Is to stock of record Oc-
tober &c.
Quarterly Income Shares. Inc, has
declared a dividend of cents, payable
November to stock of record october
Is. Similar payment was made on
August /, last.
Loew'S, Inc, has declared the regular
quarterly dividend of S1.62la on the
$3.50 preferred stock. payable Novem-
ber Is to stock of record October 81.
The board of directors of the North
ampton Brewery Corp. has declared
dividend of 5 cents a share on its So
par value preferred stock. This divi
dend covers the regular quarterly pc
riod, July l to October l, and will be
paid october 25 to stock of record on
October Is. A considerable amount of
this stock is held in Washington.
Today's Trading on Exchange.
Capital Traction 5s opened trading
on the Washington Stock Exchange
today. the recent high price being
maintained with $500 selling at 81.
Washington Gas 6s, series B, came
out in baby bond sale at 103 and
later in the session $500 Washington
Railway & Electric As appeared on
the board at 99i2.
Washington Railway & Electric
preferred stock figured in a small sale
of 9934 practically the same price as
in other recent transfers in this issue.
Lanston Monotype was the only
other stock out today, 10 and 8 share
lots moving at 48, unchanged from
the last sale Capital Transit stock.
which has been active lately vas
quiet today, closing with 28i. bid and
287s asked.
The Washington Exchange will
start the Winter Saturday sessions
tomorrow. Trading has branched out
materially during the present week
and prices have made an excellent
showing