Evening star., 1934-10-09

sell outlined his
career from Office boy to his present
position, telling of his work as re-
inStater, cashier of the Wilmington
and Baltimore Offices and later as
cashier and manager of the Wash
tngton Office.
When Mr.. Krewson first assumed
charge of the Washington Office he
had an agency force of two full-time
agents. There are now so full-time
agents. The paid business for 1910
was $356,50 (hiS first year as man
ager of the oflce) and each year has
increased gradually until 1880 the
Office paid for $7,351,O7O, the high
point in its history. The total paid
business for the 25 years amounted to
$88,382, ,008, according to Mr.. Munsell.
Special tribute was paid to Mr..
Krewson by L. Seton Lindsay, vice
president, by wire. Among the honor
guests were Eugene Adams, johnson
S5 Adams Insurance Agency, Dewey
Zirkin, eX-preSident of KiWanis Ed
ward C. Baltz, secretary treasurer of
Perpetual Building & Loan ASsoci-
alton; Fred S. Munsell, Harry Kinks,
agency director at Baltimore, and F.
Turner Munsell, agency director at
Trenton.
G. Lea Stabler of the local office
was POSTMASTER and Leo Lloyd pre-
sented a testimonial PLAGUE signed
by all the members of the Washing
ton branch.
Garrett to Address Bankers.
John T. Garrett, official in charge
of the Bank Relations Department
of the Federal Reserve Bank of
Richmond. comes to Washington to-
morrow to attend the luncheon meet
ing at the Willard Hotel of the Dis
trict of Columbia Bankers Associ-
alton and to address the members
relating to discounts, purchases, loans
and commitments by the Federal
Reserve Bank of the fifth district
which provides working capital for
established industrial or commercial
business, according to announcement
by Frederick P. H. Siddons, president
of the association.
BY an act of Congress last June,
section 13-B of the Federal Reserve
act was enacted so that the Federal
Reserve Banks were granted broad
powers to enable them to provide the
working capital referred to, either
through the medium of other banks,
trust companies, and other financial
institutions, or in circumstances di-
rectly, by the Federal Reserve banks
to such commercial and industrial
businesses.
Instructions to member banks were
sent by the Federal Reserve banks of
the fifth district during the Summer
The local bankers are desirous of
further cooperating with the Rich
mond Bank and will listen with much
interest to Mr.. CARROTS talk.
Today's Trading on Exchange.
Capital Traction SIS were strong on
the Washington Stock Exchange again
today, three ST 1000 sales opening the
market at 81. Washington Gas Light
IS, 1858, figured in $1,000 transfer
at 90 and ST. 900 Chesapeake & Po-
tomac Telephone of Virginia SIS moved
: at LOT.
Mergenthaler Linotype figured in
one sale today at 21a4. This was the
most active stock on the board yester-
day with 30 shares selling at the same
price as was recorded today.
Peoples Drug Stores preferred stock
appeared on the board twice today.
The first sale was completed at Ills
and the second. very small lot, took
place at Ill fiat.
Bid and asked prices on other issues
closed at practically the same figures
as they did yesterday. Volume of
business continues to hold up well.
Heard in Financial District.
G. Bowie Chapman, manager of the
Washington Office of Laidlaw & Co.,
was back at his desk short time yes
terday and again today following his
recent operation for appendicitis. He
was operated on Saturday, September
%, and has made one of the speediest
recoveries on record.
President Roosevelt's address at the
American Bankers Association Con-
vention will not be broadcast, accord
ing to an announcement from the
White House This will limit the ad-
dress to the delegates to the big con-
vention and add great interest to it,
SO far as the visitors are concerned.
He speaks on october "a.
Clark, ChildS & Keech have sent
from their Washington Office notices
to their clients that the firm has made
arrangements with a firm member of
the London Stock Exchange to furnish
service covering British and Colonial
securities.
Arthur D. Whiteside, member of
the National Industrial Recovery
Board, will address the American In
stitute of Accountants at the annual
meeting in Chicago, October Is to 13,
on the place of accounting in the re-
Covery program.