Evening star., 1934-04-22
J.P.NOLAN SLATED
ASNEWPRES|DENT
OF D. c. BOND CLUB
Election and Annual FrOIiC
Will Take Place May 18
at Manor Club.
HOGAN WILL PRESIDE
AT BANKERS DINNER
Franklin National Ready to Open
as Branch of City Bank
of Washington.
BY EDWARD c. STONE


Announcement was made in the
financial district yesterday that an
other Bond Club of Washington's
famous annual outings and the elec-
ton of officers for next year, will be
staged at the Manor Club, Norbeck.
Md. on Friday, May 18. The ticket
now being framed indicates that
James p Nolan will succeed to the
presidency when Frank P Morse lays
aside the toga he has been wearing
during the last II months.
The clubs proclamation announces
that it can wait no longer for the
House and Senate to get together" on
the question of regulation, but will
set up its own Big Board" across the
line in Maryland for at least one day.
During this temporary absence from
Federal territory and brief span of
life on the soil of sovereign state,
the Bond Club members and their
guests will be governed by New
DeaW code that carries real teeth"
Fenton Cramer. as chairman of the
Outing Committee. has the Stain
job. His brain trust" assistants are
James P. Nolan. Carl R. Kurtz, James
H. Lemon, T. c. Montgomery. Y. E.
Booker, Sidney T. Thomas, Franklin
H. Ellis, Lawrence NJ. Proctor, T.
Baker Robinson. Carroll Morgan and
Frank Morse, retiring president
The outing will be inaugurated at
noon. and will end somewhere around
midnight. A good old-fashioned
Maryland country dinner will be serv-
ed at o'clock, Immediately following
the formal close of the 20. b c."
stock exchange session which. as
result Of secret pools and inside syndi-
cate agreements. threatens to prove
highly hectic affair.
Committee Heads Named.
All details governing the operation
of the stock exchange quotation board
have been entrusted to Carl R. Kurtz,
chairman of the IS. E. c." who will
receive highly essential assistance
from Donald H McKnew, chairman
of the Prizes Committee Other &C.
tivities under the Outing Code will be
administered by Richard B. Winder,
chairman of the Golf Committee:
Munford Ellis. chairman, Horseshoe"
Committee; Charles c. Allies, chair
man, Dinner Committee; Robert c..
Jones. chairman. Refreshments Com
mittee; George M. Ferris, chairman,
Entertainment Committe; Frank j.
Rapee, chairman Putting Com
mittee. and Richard P. Dunn, chair
man, Ping-Pong Committee.
One of the really revolutionary fea-
lures scheduled, according to Presi-
dent Morse, is a proposed drastic re-
tirement of all stand-patters. conserv-
atives and eXtremerightists who now
hold office in the Bond Club of Wash
ington and the substitution of dyed
in-the-wool New Dealers for those Old
Guard representatives.
The tickets now being framed up
by the insiders carries the name of
James Parker Nolan, for president; !;
James H. Lemon, for vice president;
Carl R. Kurtz. for secretary-treasurer,
and T. c. Montgomery and L. Clark
Brown, as Young Guard spokesmen on
the board of governors.
Capital Traction Improves.
On the Washington Stock Ex-
change yesterday, Capital Traction
stock opened with an 1l-share sale
at "a Later in the session it ad-
vanced half a point, 20 shares bring
ing PAP.
Mergenthaler Linotype. which has
come to life recently, appeared in the
days business again yesterday, 10
shares moving at 25I, up IA from
Fridays close. Attention is now be-
ing drawn to this issue because of
of iyo h,Ic civ
the beginning of the year. Wash
ington Railway & Electric preferred
was firm, small lot selling at 80.
In the bond division, Anacostia &,
Potomac Railroad 5s appeared on the
board at 6712, on a $4,000 turnover.
Capital Traction 5s were once more
in the limelight, $1,000, and two $500
bonds selling at 817s. The bonds
closed the week with 80 bid.
On the whole the weeks trading was
satisfactory and both bond and stock
prices maintained firm levels, several
new high marks being scored.
In connection with the District
Bankers Association pre-convention
dinner, to be held at the Columbia
Country Club next Wednesday night
it was announced yesterday that
Attorney Frank j. Hogan VIII act as
POSTMASTER. The Washington lawyer
who is general counsel of the bankers
association has served many times in
the past at these Spring meetings in
a most acceptable manner.
Acceptances and reservations in
dicate that between $50 and 200 lead.
ing bankers and their guests will en-.
Joy the dinner. Many Treasury Off
cials always attend these gatherings
Karl w. Corby, secretary of the asso-
citation, Is in charge of the arrange
ments, and Thomas j. Groom, chair
man of the General Convention Com
mittee, is down on the program tc
present the latest news regarding the
four-day meeting to be held at White
Sulphur Springs.
In the afternoon golf-inclined finan.
ciers will contend for the Robert v
Fleming cup, the prizes in this event
to be awarded during the dinner.
Franklin Ready to Open.
Clarence F. Burton, president of the
City Bank of Washington, announce:
that the Franklin National Bank vii
open as a unit of his bank during the
present week. Former President Johr
B. Cochran will be chairman of the
board of the City Bank and Thoma.
P. Hickman will be vice president
in charge of the Office in the Franklin
National Building.
j. G. Stephenson, Franklin Ma
tional officer, will be assistant cashier
in the new Office, while Samuel M
Thrift, former Franklin cashier, will
be executive secretary of the Franklin
Liquidating Trust, which will handle
the assets not taken over by tn,
City Bank.