Evening star., 1935-02-03
BRISK PACE SET
ON EXCHANGE HERE
AS WEEK CLOSES
Demand Is Extra Heavy for
Woodward & Lothrop
Common Stock.
HIBBS ON HONOR ROLL
OF NEW YORK MARKET
Investment Bankers Seek Ways
to Spread Information on
Fair Practice Code.
BY EDWARD C. STONE.

sion OF the Washington Stock EX-
change for many weeks, Woodward &
Lothrop common stock provided the
leading feature. There were 13 con-
secutive transactions in this issue, in
volving IT'S shares.
All the stock changed ownership
at S28 share. the same as the price
paid for many shares of the stock
earlier in the week. and two points
higher than the 1884 top. During the
trading, six 100-share blocks were in
cluded in the transfers.
The closing bid for the stock was
$28 share, with $50 asked. Another
stock which appeared in the days
sales was Washington Railway g.
Electric preferred, which sold at
S10l.75 share, practically unchanged
from many other recent sales. The
regular quarterly dividend on this
stock was voted a few days ago.
Lanston Monotype figured in three
transactions, all made at $50 share.
The stock closed the week with the
same bid and none offered at any
price In the bond division, there
were three small sales in Washington
Gas IS, series B, at l0314.
Hibbs Holds Honor Record.
w. B. Hibbs, founder of the Wash
ington brokerage firm bearing his
name, has been 8 member of the New
York Stock Exchange almost 40 years,
according 10 the 1884 Year Book, just
out. The 25 oldest Stock Exchange
memberships are listed and Mr.. Hibbs
stands twenty-first on the roll Hav-
ing joined the exchange on May 2,
1895, he comes very near getting into
the list of II who have been members
four decades or more.
j. Pierpont Morgan is just before
Mr.. Hibbs on the list, being No 90
having secured his seat on April IS,
1895, about a week before the Capital
broker got his. The oldest member of
the exchange is Michel c. Bouvier, who
has held his membership IS years,
since June 25, 1862
John D. Rockefeller was admitted to
the exchange on March Is, 1888. With
only four others, he has been member
more than so years. w. G. Loew is
the youngest member in the special
honor list his admission being dated
April IS, 1897.
The Year Book shows that on Janu-
ary l, 1885, there were IL branch
Offices of New York Stock Exchange
firms in Washington, against IS
branches on the same date of the pre-
vious year. w. B. Hibbs & Co. and
Auchincloss, Parker & Redpath have
their main offices here, bringing the
total to Is. The reduction of three
Washington offices during the year was
due to consultations.
Would Spread Code Ideas.
Ways and means of bringing about
q better understanding of the Invest
fnent Bankers Fair Practice Code both
on the part of the investment bankers
and the investing public were dis
cuSsed at meeting of the Investment
Bankers Regional Code Committee
for District No. 13 held yesterday
afternoon.
Close cooperation of the National
Code Committee was pledged by Wal
lace H. Fulton of San Francisco, who
recently was appointed director of
compliances as an addition to the
staff of Rollin A. Wilbur, managing
director of the Investment Bankers
Code Committee Mr.. Fulton will
keep in close touch with the II region
al Code Committees throughout the
country and 'endeavor to coordinate
their efforts and assist them in max
ing the code effective in their respec-
tive districts.
Those present at the meeting we're
e u
Washington, chairman; Walter S.
Robertson of Scott & Stringfellow.
Richmond: James S. Whedbee of
Jenkins, Whedbee g. Poe, Baltimore;
Ellicott H. Worthington of w. w.
Lanahan & Co., Baltimore, and Myles
H. Quail, secretary.
District No. 13 includes the District
Of Columbia, Maryland, Virginia, West
Virginia, North Carolina and South
Carolina.
Financial District Notes.
William r. Boyer, formerly associat-
ed with Charles D. Barney & Co., has
Joined the local staff of Winthrop
Mitchell d Co., members of the New
York Stock Exchange, Joseph Dow
dali, the Washington manager, an
nounced yesterday. Mr.. Boyer hiss
been in the brokerage business in the
Capital for the past seven years, and
Is graduate of Brown University.
Providence, r. I.
The Deposit Insurance Corp. has
suspended indefinitely application of
its recent order reducing from 3 to 21k
per cent the maximum interest, which
may be charged on time and savings
deposits Of insured banks which are
not members Of the Federal Reserve
System.
A new condensed form of prospec-
tus, to be used by iSsuers Of new secur-
ities under the securities act Of 1888.
will be promulgated by the Securities
and Exchange Commission shortly.
While the exact contents of the
prospectus are not known, it is under
stood that the commission will insist
that answers to all question, except
financial statements, be submitted in
n condensed and summarized form.