Evening star., 1934-06-13
INVESTMENT CODE
GROUP cONFERS.
Committee for District 13
Handles Mass of Ap-
pIications.
BY EDWARD C. STONE.

bia, Maryland, Virginia, west VIZ
ginia, North Carolina and South
Carolina, met here yesterday after
noon at the Office of the chairman,
Y. E. Booker, American Security
Building
The principal task of the COM
mittee at present is handling the
mass of applications for registration
from dealers in this territory. All
applications are filed in duplicate
with the Regional Committee, where
they are checked and after approval
are forwarded to the National Code
Committee. which has headquarters
in the Denrike Building. Dealers
have until June 81 to complete their
registration.
Those present at yesterdays meet
ing were: Y. E. Booker of Y E.
Booker & Co., Wylie R. Cooke. Peo-
pies National Bank Building, Lynch
burg, Va; Walter S. Robertson of
Scott g. Stringfellow. Richmond;
James S. Whedbee of Jenkins, Whed-
bee & Poe, Baltimore: Ellicott H.
Worthing of w. w. Lanahan & Co.,
Baltimore, and Myles H. Quail of Y.
E Booker & Co., acting secretary.
The Code Committee covering this
territory is working in conjunction
with similar regional committees all
over the United States. They were
formed by the Investment Bankers
Association of America. Rollin A.
Wilbur. former president of the as
soclation, is the chief administrator.
his Office being here in Washington.
Trust Council Nominated.
The Nominating Committee of the
fduciaries section of the District of
Columbia Bankers Association has
certified the following candidates for
election to the Executive Council of
the fiduciaries section for the year
1934-35.
j. Eliot Moran, assistant trust Off
Ger, American Security & Trust Co.;
Aubrey o. Dooley, assistant trust Off
GER, Hamilton National Bank; William
V. Simmons. assistant trust officer
Liberty National Bank; James A
Soper, vice president. Lincoln National
Bank; Charles D. Ratcliffe, vice presi
dent, Munsey Trust Co.; John F. Hill
yard, assistant cashier, National Bank
of Washington; Roger P. Hollings-
worth, assistant trust officer, National
Metropolitan Bank David Bornet,
trust officer. National Savings & Trust
Co.; Sidney F. Taliaferro, vice preSi
dent and trust officer, Riggs National
Bank; Irving Zirpel, secretary and
third assistant trust officer, Union
Trust Co.; Bernard L. AmiSS, assistant
trust officer, Washington Loan & Trust
Co.
Pursuant to section of article w
of the bylaws of the fiduciaries sec
ton. as amended. the five candidates
receiving the highest number of votes
shall be considered as elected to the
Executive Council
The election will be held at the
board room of the American Security
& Trust Co. on Friday at 345 pm.
johnson Will Give Address.
Gen. Hugh S. johnson, national re-
covery administrator, will address the
twenty first annual convention of the
National Retail Credit Association at
Memphis, Tenn, Wednesday, June
20, according to an announcement re-
ceived by S. H. Takes, secretary of
the Associated Retail Credit Men of
Washington, from Guy H. HulSe, sec
retary and educational director of the
national association. Arrangements
have been made to broadcast the ad-
dress.
This evident interest of Govern
ment officials in our program" writes
Mr.. Hulse, indicates an understand
ing on the part of those in charge of
our recovery program of the vital part
retail or consumer credit plays in our
national economic order.
Reports from all parts of the
country" continued Mr.. Hulse's letter,
''show increased retail sales and COL
lections, good barometer OF business
conditions. In other words, people
are buying more and paying their bills
more promptly, the quickest way in
which we can all help to bring back
national prosperity"
Cremen Retained in Office.
John F. Cremen, Washington gen.
eral agent of the Massachusetts, Mu-
tual Life Insurance Co., has just re-
turned from the annual convention
of the General Agents Association, to
which he was reelected secretary
treasurer of the General Agents As
sociation.
Pennsylvania Railroad reports for
four months ended April 80, 1884, net
income of $5,143,341 after taxes and
charges, equal to 80 cents a share
(par $500 on 13.167,696 shares of
capital stock. This compares with net
loss of $1,730,160 in first four months
of 1888
Arthur J. Linn, auditor of the
Hamilton National Bank, was one of
the speakers at the Auditing and Ac-
counting Conference at the American
Institute of Banking Convention to-
day He discussed the Auditors
Part in Directors Examinations.
Eliot H. Thomson of the Washing
ton Loan & Trust Co. is another local
banker on the program. The inSti-
tute delegates are most enthusiastic
over the meetings and the side enter
tainments provided by the commit
tees here.
Today's Trading on Exchange.
Anacostia & Potomac Railroad SIS
registered a new high for the year
on the Washington Stock Exchange
today, moving from 90 to IN. The
opening sale was 81 900 selling at II.
This sale was followed by another
$1,000 transfer at 71A while the
market closed with $4,000 changing
hands at H. The final bid was 701a
with 70 asked The only other sale
at today's session was a small lot
transfer in Lanston Monotype stock
at 4712, gain of 212 points over
last weeks close.
Two New York banks in which
there is considerable interest here
have just declared dividends. Manu-
facturers' Trust voted the regular
rs cent quarterly dividend payable
July 2, while the Bank of New York
g. Trust Co. has declared the regular
quarterly dividend of $3.50, payable
on the same date.
G. c. Murphy Co. has declared the
regular quarterly dividend of 50 on
the 8 per cent cumulative preferred
TYYIxy to CIR of