Evening star., 1934-04-15
Capital Traction Figures in
233-Share Turnover at
Weeks Close.
GAS-ELECTRIC ISSUES
ALSO TRADED ACTIVELY
President Vass Names Committee
on Transportation for Coming
Bankers Convention.
BY EDWARD C. STONE.

Saturday trading on the Washing
ton Stock Exchange resulted in one
of the busiest weekend sessions in
many months, bonds being strong and
stocks selling around their recent
levels.
The market opened with two 81 900
sales in Potomac Electric Power con-
solidated SIS selling at l0412. Bond
trading then turned to Washington
Gas issues, $1,000 gas SIS, 1858, ap-
pearing on the board at 95, followed
by a similar sale at e45a.
washington Gas S. 1860. opened
with $1,000 selling at 1063s. The
bonds then advanced on $1,000
transfer to 1867 and closed with
$1,000 changing hands at the highest
price of the day, 1861. The final
quotation was 1O6 bid, but none Of
fered at any price.
Capital Transit certificates not yet
having been issued, Capital Traction
started the trading in the stock divi-
sion. During the days session there
was a turnover of 233 shares of Trac-
ton in II different transactions, rang
ing from to so share lots. The
stock opened at 241a, off half a point
from Fridays price. 1t dropped to
24H and most of the sales were re-
corded at "a fiat, where it closed The
week ended with "a bid and 25 asked
Merchants Transfer & Storage per-
ferred. which recently paid a divi-
dend, was also in the limelight yester-
day. The stock opened at 3014 and
closed at the same price. Five differ
enJ sales brought in total turnover
of IS shares. The final bid was 90
with 81 asked.
During the session 10 shares of
Washington Railway & Electric pre-
ferred appeared on the board at 90.
The stock closed with 81 bid and 100
asked So the week ended, the new
deal, restored confidence, passing of
the fear of too much regulation, and
a growing demand for local securities
having combined to give the market
big forward push during almost all
recent sessions.
Convention Committee Named.
Plans for the coming annual con-
vention Of the District Bankers AS
sociation at White Sulphur Springs
were given another boost yesterday
by President George o. Vass in ap-
pointment of the Transportation
Committee.
Barnum L. Cotton. real estate officer
of the National Savings & Trust Co.,
was named chairman; Archibald Nc
Lachlen of the McLachlen Banking
Corporation, vice chairman; the other
members being James c. Dulin, ir.,
American Security & Trust Co.; w.
w. NARROW, Second National; Richard
A. Norris, Lincoln National. and NJ
V. Simmons, Liberty National
On this committee devolves the
onerous duties of arranging for the
special train, the assignment of berths,
the movement of baggage and the re-
ceipt of registration. Association
members are, therefore, endeavoring
to tighten their burdens as much as
possible by advance registration. 1t
is hoped that there will be an attend
ance of more than 200 at the conven-
ton.
The association and guests will go
to White Sulphur on a special train,
leaving Washington at 10 pm. Sat-
urday, May 26, reaching the famous
resort in time for Sunday breakfast
OF the four convention days. two
come on business holidays. The new
committee will start making reserva-
ticns at once.
Junior Bankers Honor Norris.
The Spring open meeting of Wash
ington Chapter, American Institute of
Banking, was held last night in the
ball room of the United States Cham
ber OF Commerce Building with over
400 members and guests of the chap
ter in attendance.
Due to the fact that Washington
Chapter suspended its annual banquet
this year, in order to concentrate on
plans for the national convention of
the institute to be held here In June,
the affair last night was entirely
social in character. Dancing was in
progress throughout the evening and
a special feature of the meeting was
the presentation of gold watch and
chain to Richard A. Norris. assistant
cashier, Lincoln National Bank, and
president of Washington Chapter dur
ing 1932-1933.
In presenting the gift Robert H.
Lacey, chapter president. commended
Mr.. Norris on the excellent record Of
his administration. The dance last
night is the last social function of
washington Chapter until after COM
pletion of the second semester classes
next month.
Financial District Notes.
Members of the District Underwrit-
ers' Association report an intensely in
teresting joint sales congress in Bal
tinlore Friday. Nearly 800 Washing
ton insurance men were present.
The annual convention of the Vir-
ginia Bankers Association will take
plcce at the Cavalier Hotel, Virginia
Beach, June to 8, President S. H..
Plummer announces.
The West Virginia bankers will be
at White Sulphur shortly after the
Washington financiers have visited the
resort, the dates being June 8 and g.
Marson Orchard of Charleston is
president of the association.
The gain of 40.5 per cent in March
retail sales in Washington stores over
March, 1888, was hailed as another
sure sign of better times in the busi-
ness district. Packed hotels for con-
ventions and Spring touring are help
ing to make the April figures equally
favorable.
The Maryland State bank examiner
and receiver for the Citizens Bank at
Hurlock, Dorchester County, Md, has
mailed checks to depositors and gen.
eral creditors for 10 per cent of their