Evening star., 1934-05-09
BONDS ADVANCE
ON D. c. EXCHANGE
Make Very Fine Record in
Four Months and Hold
Near Tops.
BY EDWARD c. STONE.


board have climbed to higher levels
and are now quoted near their tops
for the year.
Anacostia & Potomac Railroad first
IS have advanced from 40 to 67l2
since the advent of 1884 At their
present quotation they are yielding 9
per cent. The Anacostia & Potomac
guaranteed IS are strong, now selling
at 90, after starting the year at "a p.
They yield $40 per cent.
Capital Traction first SIS are now at
the years peak, selling at 80 after
climbing from 62. They now yield
ITO per cent Georgetown Gas Light
first IS are strong at los, their 1884
high mark Both the Potomac Elec-
trio Power issues have displayed their
usual strength and are now selling
higher than when 1884 arrived.
Washington Gas Light 5s. 1853
have joined the advancing procession
and moved from 80 to 9434, with a
high of 95l2 Washington Gas SIS,
1860, are now bringing 1862, prac
tically the high for the year. Wash
ington Railway & Electric Consoh-
dated As have also given a good ac-
count of themselves. From 83 they
have climbed to 95 in the four months.
on a very generous turnover.
In the stock division prices are also
for the most part higher than at the
beginning of the year. Potomac Eiec-
trio Power per cent preferred is up
to 111la while the SIC per cent stock
is now selling around ll034. Capital
Traction has moved from IA to above
"a Washington Gas has jumped from
45l2 to 81. In the same period Wash
ington Railway & Electric preferred
has stepped up from 1912 to par,
Exchange members have a right to
be proud of the record. Any guam
tity of the issues on the New York
Stock and Bond Exchange have scored
no such advances in the same length
of time.
Credit Men Awarded Honors.
Certificates of the National Insti-
tute OF Credit were presented yester-
day by Waldo J. TaStet, president of
the Washington Association, to 10
students who completed the course
in credits and collections. Receiving
the award were Henry P Ames, Da
vld Bendheim, William A. Bowman,
Max Dinkin, Gilbert F. Haley, Edward
R. Holloran Millard p Hill. Fred T.
Mcintyre, jr; David Mincosky and
David A. Penney.
John A Reilly. attorney and bank
er, addressed his former associates
at the weekly luncheon. Mr.. Reilly
was secretary manager of the asSo-
citation and counsel for its adjustment
bul eau from 1927 to 1881.
Discussing The New Credit Era"
Mr.. Reilly stated that the solutions
to many of our present difficulties
will require the use of credit and
business craftsmanship of the highest
order. Credit is the foundation OF
all business activity, and one OF the
most important elements to be con-
sidered in appraislng risk is char-
acter. The moral standards of credit
are down and every effort should be
made to revive them.
"Our President. displaying unusual
courage, has taken the leadership IN
a gigantic program of readJustment'
but, unfortunately, many unscrupu-
lous debtors are attempting to use his
program as a means of evading their
lust and honest obligations. We must
not bind ourselves to some of the
dangers in the present scheme OF
things. but should unite in en- effort
to check the ever rising dlsrespect
for the credit contact" Mr.. Reilly
asserted.
Anacostia Bank Has Election.
Maurice Otterback was reelected
chairman of the board Of the Ana
costa Bank at the annual meeting
held this forenoon. j. F. Campbell
again was chosen president.
Others officers include w. L. kuntz
vice president and cashier; Albert v.
Pehl, assistant cashier: w. w. Young,
assistant cashier, and George P. Cert
man, attorney.
Before the organization meeting,
the stockholders reelected the fol-
lowing directors: Mr.. Otterback, Mr..
Campbell, Mr.. KuntZ, A. E. Guide,
George S. King. L. w. Thompson and
Robert Thompson.
The Anacostia Bank was "a years
old today. Chairman Otterback re-
ported the institution in thriving con-
dition.
IB. A. Code Leaders Meet.
The Regional Code Committee for
this district, which is to work with
the National Investment Bankers
Code Committee in the administra-
tion and enforcement of the fair prac-
tice code. held its initial meeting in
Washington yesterday afternoon and
perfected it's organization Y. E.
Booker was elected chairman and
Myles H Quail was elected acting
secretary.
The personnel of the Regional
Committee includes James S. Wedbee
and Ellicott H. Worthington of Balti-
more, Walter S. Robertson of Rich
mond, Va; Wylie R. Cooke of Lynch
burg, Va, and Mr.. Booker
This committee represents the
States of Maryland, Virginia, West
Virginia, North and South Carolina,
and the District of Columbia. All de-
in this territory will be referred to this
committee.
The first important work of the
committee will be the handling of ap-
plications for registration by the va
rious dealers within this district.
Sidd0nS to Discuss Banking.
Frederick P. H. Siddons secretary
of the American Security & Trust Co.
and first vice president of the District
of Columbia Bankers Association, will
discuss Some Problems of Banking
before members of the Y's Mems Club
at their weekly luncheon tomorrow
at 1890 pm. in Sholl's Cafe. 1919
G street, it was announced today by
C. E. Fleming, club secretary. Mem
bers of the club will take a number
of guests to the luncheon to hear Mr.
Siddons. James C. Ingram, president
Of the club, will preside.
Capital Traction IS were in strong
demand on the Washington Stock
Exchange today, four $1,000 bonds
and one $500 changing hands at
81A. Washington Railway & Electric
As were strong at 95. Peoples Drug
Stores preferred appeared on the
board for the first time in several
months. Ten shares sold at 1862,
against the last DreviolS sale at