The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-02-22

NkxC NkINNA "AVAA
proper signature is presented.
Many of those coming back
are here to attend various Gov
Ornment hearings concerning the
various codes. Others, however,
are with the Army and Navy,
and you know how those persons
are transferred.
The Federal Home Loan Bank
Board made its first annual re-
port three days ago, but no one
knew it until yesterday. 1t seems
It was left at the office of
Speaker Rainey and got lost in
the shuttle. Anyway, the re,
lease on it was not made public
IN fact, newspaper men had to
find out about it before the
board made the release.
The report has considerable IL
Eliminating data about the District
It shows that $2,605, 300 was bor-
rowed in loans, that there were
advances of $2,558,800 that ST.
292,925 has been repaid, and that
$1,265,875 is still outstanding.
E. A. Pierce & Co., has new
Hnoleum on its floors. Thomas
W. Brahany, manager, hopes he
will be able to keep it clean.
John C. Legg, senior member Of
Mackubin and Legg, with offices
In the Woodward Building, has
become a member of the Wash
1ngton Stock Exchange. His adj
dition brings the membership up
considerably. There have been
several vacancies for a number Of
years.
And while on the subject of the
local stock exchange, it might be
pointed out that James H. Lemon,
one of the partners of James M.
Johnston & Co., is very much a
local boy. He was graduated in
1921 from Central High School
and obtained his degree from
Princeton University in 1925.
MIR. Lemon has been active in
sports for a number of years and
played baseball and basketball for
his alma mater. After getting out
OF Princeton he became affiliated
with Spencer Trask & Co., New
York investment bankers. Later
he came to Washington.
And, by the way, Mr.. Lemons
f1rm is local correspondent for
Spencer Trask & Co.
incidentally, Mr.. Lemon also is
Q great contract bridge player
one of the best in the country.
Today being Wa shington's
Birthday, there will be few &C.
uvltleS in the financial field.
Banks will be closed; so will the
brokerage and investment houses.
The bankers particularly will en-
Joy their holiday. The brokers
had one of theirs February IL.
Bankers, you know, can take
only a few holidays each year.
The brokerage boys take all the
legal holidays.
And while on the subject of
the securities act, look at this
from j. H. Rand, jr., chairman
Of the Committee for the Nation:
Some members of our com.
m1ttee have expressed great
concern over the possible de.
fIatiOnary effects of the Ma
t1Onal Securities Act, as pre-
scented in the Fletcher Rayburn
Bill.
vicious pool operations, dis
geminatiOn of fraudulent in
formation and other abuses
must be prevented; the in
tegrity of our exchanges as
Sured. Every right thinking
person must be ready to help
I'm accomplishing this.
1T is equally important that
IN working out remedies, we
avoid endangering the funda-
mentaIS of our economic sys.
tenn and its wealth-prOducing
capacity. We must place no
unnecessary handicaps in the
way of a prompt restoration
OF our commodity price level.
Upon this depends restoration
Of the farmers buying power
and that economic balance be-
tween groups, which is neceS-
sary before the unemployed
can be absorbed into normal
productive channels.
Securities represent stored
purchasing power, and their
liquidity has made them an
important basis of credit in
dispensable for proper func-
tiOning of our economic sys-
tenn.
"Our committee has engaged
the National Industrial Confer
ence Board to make the special
survey indicated in the at
, tached correspondence. The
facts gathered by the confer
ence board will be submitted to
our advisory group, represent
ing both industry and agricul-
ture and the public, for fOrmu-
latiOn OF a considered opinion.
eve hope to have this sur
Vey completed before the bill is
reported to the Senate and
House. If you will be interested
In receiving an advance copy,
please turn the attached slip"