The Washington times., 1934-01-26
BROKERS
NOW TURN To
COMMODITIES
BY DUNBAR HARE

By DUNBAR HARE
Washington brokerage houses
are becoming commodity con-
scious, so far as cotton and grains
are concerned.
Washington has never been par
ticularly conscious of fluctuations
in either of these commodity
markets.
visitors Responsible
The Capital now, however, IS a
magnet that is drawing men from
the South-where cotton is King
and the midwest and northwest
where grains are all important
These men are coming here for
business with the Agriculture Ad'
justment Administration and
other Government agencies map
ping out the recovery program
and daily are calling at or tele'
phoning local brokerage establish,
ments to ascertain what happened
to oats, wheat, corn, cotton and
even hogs.
Thomas w. Brahany, manager
of the local office of E. A. Pierce
g. Company, was discoursing at
length on this development when
his desk phone rang. Answering
it he said:
"Wait a minute"
Then turning to this writer, he
said:
"See, that bears out just what
I've been telling you. That's q
member of the Chicago Grain
Exchange, who wants to know
about corn"
It's been a long time since the
board of governors Of the Ticker
Club, an organization made up Of
managers of local brokerage
houses, has met. So, when Ralph
M. Wolfe, secretary, sent out a call
for a special meeting today at
w. B. Hibbs & Co.'s, there was
considerable speculation as to
what was up.
However, the interest has more
or less abated. It's just going to
be one of those routine affairs
where the slate of officers for the
next year is picked, so it's said.
Goodbody & Co. will close its
local offices in the Washington
Building when the final ticker
ticks tomorrow noon. Notices to
this effect have been sent out to
all clients, who have been advised
to transfer their accounts to
Hemphill, Noyes & Co., with Of
fices in the Shoreham Building
Gossip has it that one and pos
Sibly more members of the Good
body organization will affiliate
with Hemphill, Noyes & Co.
Despite the notice that the Of
flee is to be closed business as
usual was going on today, with
indications that the old guard o1
clients would stick around until
the last tick.
Leaders Of Washington's finan
Cial circle were unanimous today
in expressing approval of the &C
ton Of the Cosmopolitan Club o1
Washington in presenting it's dis
tinguished service medal to Rob
ert V. Fleming, president Of Riggs
National Bank.
The award made for the most
outstanding act of unselfiSh ser
vice to the community during
1888 was bestowed for Fleming's
untiring efforts in the trying pc
riod prior to and during the ma
tional bank holiday.
Local Product
Fleming is distinctly a Wash
ington product, and, in accepting
the medal, stressed this pointedly
when he said:
81 was fortunate in having
been born in Washington and
having had the opportunity of
carving out a business career
in this community. While Op-
pOrtunitieS have come to me to
90 elsewhere, / have continued
my career in the city of my
birth and 1 am proud Of the
fact that the policy Of the in
stitut:On with which 1 was
fortunate enough to make my
first business contact, the in
stitutiOn which / have served
during my entire business Ca
reer and Of which i now have
the honor to be president, has
always been one of helpful
service to this community"
G. Bowie Chapman, manager OF
Laidlow and Company. 727 Fiji
teenth st. N. w., and his wife
are enjoying themselves at Palm
Beach. They left Washington
Tuesday and will be gone two
weeks.
Sees Need of NeIU
Bank Legislation