The Washington times., 1934-05-04

VNdy Hb1OO dU w ~ ~ " = A. "
Springs, w. Va.
The association president said
today that number of out-of- town
bankers have written in for reser-
vstions. While the association
does not invite outside bankers
to attend the convention, never
theless, all who express a desire to
be present are warmly welcomed.
So far bankers from Montreal,
New York and the South have re-
Quested reservations. Mr.. VaSs ex-
poets that there will be at least 10,
possibly more, Of these visitors.
Mr.. Vass looked through his
mail today and found therein a
letter from financial magazine
in Chicago requesting a copy of
his address to the convention, as
president. He said:
1--WE never heard Of anyone
wanting a copy of the presi-
dents address before, but I sup
pose I'll have to get busy and
dash off my speech"
Alexander McCook Dunlop, of
Hemphill, Noyes & Co., and Rob
ert c. Jones, president of Robert C.
Jones & Company, Inc, occupants
of adjoining offices in the Shore
ham Building, discovered yester-
day that way, way back in the
early days of the country their
antecedants had had business
dealings.
Mr.. Jones was visiting in the
HemphillS Noyes establishment
after the close of the market, and
told Mr.. Dunlop that in looking
over some musty records of his
family, he had discovered trans
action between one of his fore
bears and certain George
Dunlop. The present Mr.. Dunlop
admitted that the man referred
to was one Of his forefathers, and
Mr.. Jones volunteered to let him
look over the records. Mr.. Dun.
lop accepted for some future date.
Stockholders of the Lanston
Monotype Machine Company,
meeting in Alexandria yesterday,
received the report of operations
and balance sheet of the COM
pany, which was approved by the
board of directors as of February
%. The report showed net earn
ings, after all liabiliti es and losses
had been written off, of 9,069 %.
Harvey D. Best, president, re-
ported that dividends of 81 per
share were paid for the year,
and pointed out that the COM
pany has paid out a total of
$8,445,778 in dividends and that
dividend payments have been reg
ularly maintained each quarter
since the first quarter OF the
fiscal year 1915. He stressed:
"The printing trade has made
an enviabIe record in meeting
it's deferred obligations through
the years of depression, and
our collections continue remark
ably good both in domestic and
foreign fieldS.'
John Caswell, jr., Of Clark,
Childs & Keech, in his regular
comment, has this to say about
the silver ituation:
"Tn a move that was rather
surprising from the point of
view of the promptness with
which it appeared, President
Roosevelt is reported to have
indicated what he believes can
be done for silver without caus-
ing drastic diSarrangement with
the base of the cOuntry'S cur
rency. The occasion for giving
his views was the call at the
White House by a House group
to ascertain his position on the
''MOnetary Authority Act Of
1884" this name being the
short title for the GoldsbOrOugh
bill.
"As far as can be learned,
the President is reported to
have reStated that he desired
no mandatory legislation which
would force the Administration
TO enter upon SlIVer-puEcndS"
ing program. However, it is
believed that he indicated that
he had no objections to a
piece of permissive legislation,
If any was thought necessary,
by which the Treasury would
gradually increase the ratio Of
silver in comparison to gold
back of our currency, so that
the result might reach 30 per
cent silver and 20 per cent
gold. The present ratio is
approximately IL per cent sill
yer and SO per cent gold. 1t
appeared that such a PROPOSE
tiOn would be even more agree
able to the Administration If
this country were able to have
other nations agree to do the
same thing.
"Quite q few congressional
silverites, particularly those
known to be Administration ad-
herents, have said that this was
another step along the road.
Not a few have said that, in
all probability, it was all that
could be hoped for aS q result
Of their efforts at this session
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