Evening star., 1934-10-17

Harry s. Kingman. apoi,e ne en'ei.u
and rose rapidly to his present po-
sition.
Mr.. Kingman has been a hard
worker in the A. B. A. for several
years In 1882 and 1888 he was vice
president Of the Savings Bank Divi-
sion and was elected president at the
Chicago convention year ago. He
has served on the associations Bank
Management Commission and as
chairman of the State Legislative
Committee of the savings division;
also on the Council of Administration
of the National Association of Mutual
Savings Banks.
PeIIey to Address Bankers.
]. j. Pelley, former president of the
New Haven Railroad, and now presi-
dent of the newly created Association
of American Railroads, will address
the annual convention of the Invest
ment Bankers Association, October 81
to 81, at White Sulphur Springs. w.
Va. Washington investment houses
will send delegation to this meeting.
Formation of the Association of
American Railroads, through CONSOLE
dation of the Association of Railway
Executives and the American Rail-
way Association, was announced Sep
tember %, following meeting Of 200
leading railroad executives in Chicago.
The purpose Of the new association,
it was said, is to provide unified.
national organization ito promote
trade and commerce in the public in
terest, further improve railroad service
and maintain the integrity and credit
Of the industry"
School Savings Show Jump.
School savings deposits are decidedly
on the upgrade" it is declared by w.
Espey Albig. deputy manager, Amer
ican Bankers Association, in making
public today the annual report of the
associations savings division on the
savings bank projects conducted in
schools throughout the United States.
THE net increase-the difference
between the amount deposited and the
amount withdrawn-during the year
closing June 80, 1884, was So 600, $50
over the volume of the preceding year"
the report says.
'The gain came not so much through
increased deposits as through fewer
Withdrawals. The Withdrawals, in
many cases, were for a different pur-
pose than they were a year ago. At
that time the notices of Withdrawals
breathed immediate need for food,
clothing, medicine and shelter. Those
items, Of course, are also present this
year, but the Withdrawals generally
show more mstured and leisurely judg-
ment-to buy a piano, to pay interest
on the mortgage, to attend "A Century
of Progress, a visit to Washington,
d. c."
Today's Trading on Exchange.
Washington Railway & Electric pre-
ferred opened business on the Wash
ington Stock Exchange today, small
lot moving at 99B fractionally lower
than yesterday.
Mergenthaler Linotype was fraction
ally higher. The stock opened with a
10-share sale at 22k but after call
two more 10-share lots sold at 225s.
board, National Savings q Trust Co. ,,
stock recording small sale at par.
This was the last sale Of the day.
Potomac Electric Consolidated SIS
figured in a $1,000 transfer at the
strong price of los. while $500 Wash
ington Railway & Electric As shifted
ownership at 99h. Washington Gas
Light Stock Is now being quoted ex-
dividend in anticipation of the regu-
lar disbursement due In few days.
Financial District Gossip.
The belief is growing in financial
circles that President Roosevelt's ad-
dress before the A. B. A. next We'd
nesday night, will be the most impor-
tant pronouncement on administration
financial views In many months. The
Presidents recent chats with banking
and industrial leaders add strength
to this belief
For the first eight months Of the
present year the Pennsylvania, Rail-
road earned "a cents O share (par
$500, against 80 cents q share q year
ago. The Chesapeake & Ohio in the
first nine months earned $2.70 share
on common, against $2.66 year ago.
About 40 members of Washington
Chapter, American Institute Of Bank
ing, are to assist the committees from
the District Of Columbia Bankers As
sociation while the American Bank
ers' Association Is in session here.
They have already been assigned to
wide variety Of duties.