Evening star., 1934-12-11

broker in excel w u,,,-
lent health. The W. b. Hi00''
we're dispatched to his country estate
congratulations he received today
at Leesburg, Va. His phone rang mer-
rily and he was swamped with good
wishes.
Mr.. Hibbs was born in Gordons-
vile, Va, but came to Washington
when very young He started his
career selling newspapers in the f1nan-
cial district. After obtaining his
education here, he entered the brok-
erage business established his own
firm and for half century was one
of the leading financiers in the Capt.
tai.
Some years ago he reorganized his
business and in addition to his part
ner, w. w. Spaid, took Karl w.
Corby and J. Thilman Hendrick into
the firm. Since then he has let
many of his old business burdens rest
on younger shoulders.
During the World War Mr.. Hibbs
was very active on the Liberty Loan
Committees. He has served as a di-
rector of many business concerns, is
a thirty second degree Mason and a
member of many organizations such
as the Racquet, Alibi and Chevy
Chase Clubs. His acquaintance with
public men has been very broad.
Christmas Club Idea Spreads.
A survey of the Christmas savings
club situation in Washington banks
reveals that the thrift idea is still
spreading, that hundreds of accounts
are being opened daily and that gen.
erous sums are being subscribed by
the members for 1885. Enthusiastic
bankers, who are pushing the clubs
vigorously in their institutions, call
attention to the fact that the Christ
mas clubs have no membership fees,
no dues, no meetings, just happy
name applied to a sound idea.
All the members have to do is de-
posit a definite amount each week.
They may deposit from few cents
to a few dollars, each member decid-
ing this matter for himself. At the
end of the year the so weekly deposits
are paid back in lump sum. Most
Of the banks offer five different
classes of accounts.
Members who pay so cents week
receive S25 at the end of the year.
Those paying ST weekly get back $50.
Deposits of So a week brings back
s100 at the end of the year, while
regular S. deposits mean $3.50. The
$40 weekly deposits bring the year
end club check up to $500. In most
instances, the interest is the same
as the banks paid last year.
The new clubs opened on November
80, to remain open to new members
for six weeks. So far the $50 and $100
clubs are reported to be most popular.
In few cases in years past, men,
bers have put in as much as $4,000
during the so weeks. Bank officials,
however, advise that these larger
amounts be placed in permanent
savings. =
Bank Notes Forty Fifth Anniversary.
George E. Allen, member of the
Board of Commissioners of the District
Of Columbia, and Frank M. lotion.
second vice president of the Chase
National Bank of New York, were
guest speakers at q banquet given last
night at the Willard Hotel by the
American Security & Trust Co. to
commemorate its founding, As years
ago.
affair Among them were officers,
directors, members of the Advisory
Board of Branches, counsel and en-
ployes Of the company, both active
and retired.
President Corcoran Thorn presided
at the banquet Many entertaining
features appeared on the program and
an eight-piece orchestra furnished
music for the dinner and the dance
which followed.
Pope Names Advisory Council.
Frank R. Pope, president of the
Association of Stock Exchange Firms,
has formed national advisory council
of 1872 members of New York Stock
Exchange member houses. The men,
bers will be available to investors in
their communities to hear both criti-
cisms and suggestions for increasing
the usefulness Of the stock exchange
as a national market place.
About every important city in the
United States is represented on the
committee. w. w. Spaid is the Wash
ington member. Baltimore is repre-
sented by Ellicott H. Worthington,
and Richmond by Wymond Cabell.
Mr.. Pope says that in the past in
vestors outside of New York have had
no way to ask questions or make sug-
gestions except in a most impersonal
manner. They will be now offered
direct personal contact.
Financial District Gossip.
All the national banks in Washing
ton and many other financial institu-
tions will hold their annual meetings
on Tuesday, January 8. So far as
known now, there will be few changes
in directorates aside from the filling
Of vacancies which have occurred
during the year.
Depositors in the Park Savings
Bank are anxiously awaiting December
IT, when first payments will be made
of 20 per cent dividend which in
wolves distribution Of 100000. Many
organizations, which also had their
funds tied up in the defunct bank,
are equally interested In the coming
payment.
Victor B. Deyber. president of the
Second National Bank and secretary
of the Washington Clearing House
Association, has recovered from an
attack of grippe which kept him at his
home for about 10 days.
Today's Trading on Exchange.
On the Washington Stock Exchange
today single share of Riggs National
Bank common stock sold at 21014
Lanston Monotype was strong at 48,
and Capital Transit changed hands at
81. Potomac Power 5l2 per cent pre-
ferred registered Ill.
The largest bond sale was in Wash
ington Railway & Electric As at 98%
Capital Traction SIS moved at 1914
while Washington Gas SIS, 1860, ap-
peared on the board at 110l2.
The New York Stock Exchange an
nounces that Curtis B. Dali, former
son-in-law Of President Roosevelt, has
retired as partner in the exchange
firm of Fenner & Beane.
Safeway Stores, Inc, affiliated with
the Sanitary Grocery system, has de-