Evening star., 1934-04-17

d EatIay lldlu DIS d VICE
president of the
trust company, devoting the larger
portion of his time to the banking
branch of the service. The directors
elected Bruce Baird and David Bonet
trust officers.
Mr.. Hoover was an expert on real
estate titles when placed at the
head of the bank in 1909. He is a
member of the District bar and di-
rector in several important corpora
tions
On the call of March 5, 1884. the
National Savings & Trust Co. rc-
ported total deposits Of $14,117874.59,
against $13,354675.21 on the con-
troller's call at the emo of last year.
Peoples Drug Stock Jumps.
Peoples Drug Stores 6l2 per cent
preferred stock continued its recent
climb on the New York Stock EX-
change yesterday. jumping to 1O4,
from the last recent sale at 102. The
stock sold at lo3 on the way upward.
In the last session last week the stock
had also jumped two points.
On the Washington Stock Exchange
yesterday, Peoples Drug preferred reg
istered bid of 100 for the first time
since the Wall Street break back in
1929. While par was bid for the
stock. none was offered at any price.
The stock has been listed on the local
board for years and is widely held
here. But holders appear unwilling
to part with it. The last sale was
made at 831a
Peoples Drug common has also been
strong since the last earnings report
came out. 1t recently crossed 40 on
the New York Exchange for a new
high mark. It's not listed locally.
Since January l the common has
moved up from a low of 81. In the
same time the preferred advanced
from Sc, or 18 points.
Insurance Leader Honored.
Frank D. Roach, who has just
completed 20 years service with the
Mutual Benefit Life of Newark, was
rendered luncheon Saturday, at
which Leo A. Rover, on behalf of 18
policyholders. presented him with a
testimonial book in which it was
stated that each one had taken an
additional policy without his knowl-
edge, but which was being placed to
his credit.
John H. Snyder, who has COM
pleted % years with the same COM
pany, spoke in behalf of the other
agents, of their affection and high
regard for Mr.. Roach. The luncheon
was rendered by H. Lawrence Choate,
general agent.
Mr.. Roach is a member of the
Washington Chapter of Chartered
Life Underwriters and has for many
years been active in the District of
Columbia Life Underwriters Associa-
ton. He has in effect on the lives
of his policyholcers more than So, ,5OO,-
900 of insurance.
Code Meeting Date Fixed.
In order to acquaint the investing
public and the banking and general
business fraternity of Washington
with the provisions of the investment
bankers code of fair competition,
which becomes effective Monday,
April %. the Better Business Bureau
Is sponsoring a meeting to be held
In the United States Chamber of
Commerce Building at 4 pm. on that
date.
The Importance of this code to the
general public is indicated by the fol-
lowing extract from Gen. Hugh S.
Johnson's letter to the President when
this code was sent him for his sigma
ture:
These fair practice provisions con-
Btitute a remarkable document. The
essential purposes are to eradicate
past and existing abuses and to es-
tablish principles and practices which
will justify public confidence, greatly
assist in restoring the markets for
both public and private investment
funds, and result in an increased flow
of investment capital into sound, pro-
ductive enterprises, which will un-
questionably increase employment and
distribute added wealth among our
people"
Urges Insurance Extension.
Appearing before the House Bank
ing and Currency Committee, Leo T.
Crowley, chairman of the board of the
Deposit Insurance Corporation in
dorsed the proposal to extend for one
year the insurance on bank deposits
up to $2500; that is, from June 30,
1884, to June 80, 1885
Five $1,000 sales IN Anacostia &
Potomac R. R. IS featured trading on
the Washington Stock Exchange to-
day, all going at 6634 an advance of
"a point over several sales yesterday.
The close was $751; bid and 6715 asked.
Washington Gas Light SIS, 1858, ap-
peared on the board again today,
$1,000 selling at 9424, same as yester-
days price. Washington Gas stock is
now being quoted ex dividend, the bid
standing at SO.