The Washington times., 1934-05-08

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The market is so weak at pres
ent that several brokers are
wondering if it is really as weak
as it is, or if the weakness is
being magnified. They are advis-
ing-"don't sell, noW!"
One broker expressed the opinion
;, that the public has lost much con-
'1idence in stock transactions due to
the ballyhoo raised by Ferdinand
Pecora, special investigator, and
by publicity given the stock market
bill that they are selling out, de-
spite the fact that the shares they
are sacrificing are on companies
which are making money.
There has been much feverish
activity in the market during the
past several days, and the only
brokerage houses that are even
stimulating any Joy are those which
have installed the automatic
boards.
John Caswell, jr., of Clark,
Childs g. Keech, declares that the
boards operated by electric i'm
pulses from New York have been
a god send.
Thomas w. Brahany, manager
Of E. A. Pierce & Company, agrees
with Mr.. CasWell.
Mai. Gen. Richmond P. Davis,
U. S. A., retired, manager OF Fen
ner g. Beane, looked out Of his
office in the Southern Building
yesterday and sighed. He was
thinking about green fairways and
a walloping, lusty drive. The gen.
eral is a golf addict of the nth de-
gree, but hasn't tried out his game
so far this year. Asked Why ne
says:
"There are just two reasons
this market and the stock ex-
change bill"
Oddly enough several brokers
believe that if the stock ex-
change bill is passed it will not
work the hardships so many
have predicted. They feel, in
stead, that the bill will bring
into the stock-market trade a
different type of "speculator."
Georpe A. Garrett, resident
partner of Clark, Childs & Keech,
was back in town yesterday,
exuberating over the Kentucky
Derby.
Mr.. Garrett went to Churchill
Downs in the private car OF
Mrs. Isabelle Dodge Sloan. owner
of the winning horse, Cavalcade.
Asked what he thought Of the
Derby, Mr.. Garrett told the
world:
'Tt was all Cavalcade."
Asked what he thought OF the
horse, he said:
"A world beater."
So there you are from man
who knows the woman who owns
the horse that won the Ken
tucky Derby.
Yelverton E. Booker, who pre-
sides over the destinies Of the
investment banking firm which
bears his name, is the District
representative on the Investment
Brokers Association regional code
committee. The chief function
of the committee will be to
register investment brokers in
District No. 13, which embraces
the Capital.
In addition to Mr.. Booker, the
other members of the committee
are James S. Whedbee, Balti-
more; Ellicott H. Worthington,
Baltimore; Wylie R. Cook, Lynch
burg, Va, and Walter S. Robert
son, Richmond, Va.
William H. Dyer is again the
president of the Washington
Chapter of the American Savings,
Building & Loan Institute.
Other officials are: Julius A.
Maedel, first vice president; R.
L. Houston Jones, second vice
president; F. William Camp, Sec
tary, and E. Edward Early, treas
urer.
Eliot H. Thomson, publicity
contact man of the Washington
Loan & Trust Company and the
District of Columbia Bankers AS
sociation, is very busy getting out
the second call for the associa-
tion's annual convention to be
held May 27-30 at White Sulphur
Springs, w. Va.
Mr.. Thomson received many
compliments on the first call,
which was artistically gotten up.
However. he modeStly dis
claimed the credit, and said:
"When they thank me it's
1ike thanking the hostess for
Q wonderful dinner. Every
enc forgets the cOOk-and the
nrinter. in this instance"