Evening star., 1934-05-18

both banks and
depositors and have called upon Mr.
Endicott because of his special study
of the problems involved in the de-
termination of what constitutes
thrift accounts" and their appro-
pirate management.
AS practically all banks now have
a savings department, the subject is
considered an important one.
Thorpe to Address Hoosiers.
Merle Thorpe, editor of the Nations
Business, who will address the Dis
trict Bankers Association at the COM
ing White Sulphur Springs conven-
ton, is on the program to address the
Indiana Bankers Association, at In
dianapolis, on May "a. He will dis
cuss national business conditions.
Other speakers will include H. N.
Stroenck, of the Federal Deposit In
surance Corporation, Washington;
and c. B. AFFORD, editor of the Amer
lean Banker, N. Y. Mr.. Stronck will
talk of the relationship between the
ton and current banking conditions.
Prof. Edwin w. Kemmerer, OF
Princeton University, who will speak
before the Maryland Bankers Associa-
ton this week in Baltimore is also on
the program at Indianapolis. His sub
ject is Money Problems" United
States Senator Frederick Van Nuys
and A. j. Stillwell. of the A. B. A.
Code Committee, will also speak.
Major Advances Indicated.
The swing toward business improve
ment is now so pronounced that prob
ably nothing can stop it. There will
be some Summer recession, but by Fall
the Nation should be in a major up
ward movement.
The purely political phase Of the re-
covery, says the May issue of Sphere,
is giving way to the economic phase,
as business men begin to realize that
the major tenets of the new deal have
been laid down and the terms stated
under which commerce can operate
The profit motive is not anathema.
The banking system, at least tenn
porarily, is immune to panic. Not
weeded out, but those remaining are
being provided with whatever addl-
tional capital is required and the in
surance of deposits. whatever Its per-
manent effects, has served to lestore
complete confidence in the safety cf
funds. Hoarding has ceased and will
not be revived.
Jump in Rail Earnings.
Southern Railway Co. reports for
quarter ended March 81, 1884, net
income of S3l,743 after. taxes and
charges, equivalent to cents a share
(par $1,000 on 100000 shares of 5 per
cent non-cumulative preferred stock.
This compares with net loss of ST.
e65,257 in March quarter of 1888.
Pennsylvania Railroad Co. reports
for quarter ended March 81, 1884, net
charges, equivalent to 90 cents share
on 13,167.696 shares (par $500 of capi-
tai stock. This compares with net
loss of S1,793,854 in first quarter Of
1888.
Atlantic Coast Line Railroad reports
for quarter ended March 81, 1884, net
income of $2,138,717 after taxes and
charges, equivalent after dividend re-
quirements on per cent preferred
stock, to $3.50 a share on 823, APT
shares of common stock. This COM
pares with S316.597 or 38 cents COM
mon share in first quarter Of 1888.
S11,471,737 Loss Expected.
Failure of the brokerage firm of
Prince & Whitley in 1880, which firm
at that time maintained an office in
the Washington Building in this city,
will cause creditors an ultimate loss
of Sl1.471,737, or rs per cent Of their
principal. it is indicated in a letter
to creditors sent by Donald B. Adams,
Creditors Corporation, which was or
ganized in 1881 to liquidate the assets
of the firm. The letter was received
here today. The securities had to be
sold at a time when very low prices
prevailed, the letter explains.
Members of the Washington Bond
Club and their guests were focking
to the Manor Country Club, Norbeck,
Md, this afternoon to attend thu an
nual outing The big doings were
under the personal charge OF Frank
p. Morse, club president. Slated to
be elected president tonight is James
p. Nolan of Folger, Nolan & Co.
Secretary Morgenthau has asked
tenders on two issues of Treasury
bills aggregating s100.000,000, one to
run 81 days and the other 1872 days.
Bonds Leaders in Market.
On the Washington Stock Exchange
today bonds got all the attention.
Three $1,000 sales were recorded in
Capital Traction SIS, all made at 80,
unchanged from other recent trans
fers in this issue. Potomac Electric
consolidated SIS figured in a $1,000
sale at the strong price of 105l2. The
bid on Anacostia & Potomac r. r.
IS was 681a today, with 10 asked.