Evening star., 1934-05-17

study OF Its
charts and price Frant p. Mor,..
indices. is out ~ '
with the statement that the depres-
sion, which began in the Fall Of
1929, is now officially ended.
On the day of last years outing,
lis members and guests were on hand
for the festivities. Today, on the eve
of the 1884 celebration, approximately
$50 reservations have actually been
taken up. That figure Is likely to be
increased, since the guest list this
year already Is more than twice the
1888 figures.
Even more striking evidences of re-
stored prosperity are to be found in
the quotations for Bond Club out
ing stock exchange seats. Last year
these seats were brought out at 81
each and remained at that figure until
trading began in the late afternoon
of the holiday. This year, however,
seats were issued at $3.50 each and as
early as last Monday morning were
quoted bid on when, as and If
issued" basis. Without governmental
control, there seems to be serious dam
ger of a runaway market before 5
O'Clock tomorrow afternoon.
Interest in this years election of
officers appears to be secondary to
the athletic and gastronomic features
of the fiesta. The outing manage
ment stresses the fact that the meal
scheduled for o'clock tomorrow
evening will be an honest-to-goodness
Maryland country dinner"
In any event, the Bond Club of
Washington, as asserted in official
bulletins. Is very much elated over the
tact that tomorrow's event is certain
to prove the most successful outing
since the days of the Coolidge boom.
Hence the assertion by President
Morse that the era of depression is
equivalent to story that has been
told.
Plans Flight to Convention.
With a special train chartered to
carry Washington bankers to their
convention at White Sulphur Springs.
Chester H. Warrington, director Of
Riggs National Bank, has elected to
fly there in his own new Stinson
monoplane. The Greenbrier boasts a
commodious, modern airport and is
only 200 miles distant by air from
this city.
Mr.. Warrington is chairman Of the
Committee on Aviation of the Wash
ington Chamber of Commerce and
last night presented his report at the
meeting in the Mayfower Hotel, at
which Postmaster General James A.
Farley was guest of honor.
The Program Committee an
nounced today that Hilleary G. Hos
kinson, one of the vice presidents Of
the Riggs National Bank, will be one
of the special speakers at the con-
vention, his subject being Financial
Statements Of Borrowers"
The third and last call was re-
ceived by bankers today. 1t gives the
reasons why White Sulphur was Sc
lected, facilities offered by the Green
brier Hotel, refers to the program and
includes complete information about
the trip.
Death Saddens Financiers.
The death of Maj. Frederick W.
Patterson at Mount Alto Hospital
after an illness of about year caused
wide regret in the financial district.
He was financial editor of the Wash
ington Post from 1924 to 1929 and
won an unusual number of friends
among financiers in the banks, brok-
erage and investment houses.
In the newspaper field Maj. Pat
terson made a fine record, having a
facile pen, splendid ability to judge
news values and penchant Tor ac-
better, being awarded the Distin-
guished Service Cross during the
World War for bravery in action.
During the last of his life he imped
slightly and used a cane as a result
of wartime injuries. He was born in
Liverpool, England, Sc years ago.
After Maj. Patterson became owner
and publisher of the Manassas Journal
his friends in the local financial dis
trict rendered him a surprise dinner
in the Virginia town as special
tribute to his work in Washington.
He retained until the end of his illness
his interest in the American Legion,
several Masonic bodies, the National
Press Club and the Army and Navy
Country Club. A charming personality,
his memory will linger long in the
hearts of his host of friends.
Many financierS attended his funeral
today at st. Paul's Episcopal Church
and went to Arlington Cemetery,
where he was buried amid full mill
tary honors.
Today's Trading on Exchange.
Bonds took the lead on the WASH
1ngton Stock Exchange today, the
first two sales being in Washington
Gas IS, series B, at 1929 and 102k.
Washington Gas SIS, 1860, changed
hands at 107. AnacoStia & Potomac
r. r. SIS figured in two 81 900 trans
fers at 68, unchanged from other
recent sales.
Capital Traction stock sold at "a
today. Potomac Electric Power 6 per
cent preferred moved at ITO and the
51a per cent stock came out at l091a
These issues and the Washington
Railway & Electric issues are now be-
ing quoted exdividend. The bid for
Railway & Electric common stock
stood at 307 when the market closed.
Directors of American Stores Co.
have declared the regular quarterly
dividend of so cents per share, pay
able July 2 to stock of record June
Is. The latest sales report shows
sales for the past month up 7.9 per
cent and for the year to date. 70 per
cent ahead of last year.
Chairman Steagall of the House
Banking Committee reports that his
group has reported favorably a bill
permitting States to tax national
banks. 1t is limited by provisions re-
quiring that the State authorities
cannot discriminate in taxation as
between State and national banks.
Railroad Reports Gain.
The Chesapeake & Ohio Railway
reports for the first four months Of
1884 earnings of $1.19 a share on the
common stock in comparison with 7s