Evening star., 1935-09-28
MARKET VOLUMES
REACH NEW PEAK
Dollar Value on Exchanges
Highest Since S. {. c.
Started Compilation.
BY EDWARD C. STONE.

EXCHANGE IOLlHlSoiOu UcSdA COil-
piling figures in October. 1884, the
commission reports August trading
showed an increase of 26 per cent
over the dollar value in July, the re-
port says. There are now 81 regis
tered exchanges, including the Wash
ington Exchange.
Total sales Of stocks in August
amounted to 79,180,163 shares, an in
crease Of 626 per cent over the a.
6s5,761 shares traded in July. Total
par value Of bonds traded last month
was $414,035,97 compared with $685.
1s3,750 the month previous. an in
crease Of IA per cent.
Dollar value of trading on the New
York Stock Exchange in August ag-
gregated 81 ,638, 1882, 900 against S1,l88,-
4ll,994 the month before Stock trad
ing last month amounted to 60,371 ,878
shares compared with 37,781,931
shares in July, while bond trading Of
S306,890,3 1926 par amount compared
with s256,234,800.
Trading on the New York Curb
Exchange had dollar value of S216,-
839,184 in August against Sl67 7,307 ,42s
in July. Stock turnover OF l1,59l.83
shares compared with 5.538,372 shares,
whereas bond trading Of $106,415, 200
par amount was practically unchanged
from the $106, ,237, 700 reported for
July, the report states.
Convention Delegation Grows.
The number of Washingtonians who
have already signified their inten-
ton Of attending the national con-
vention of the American Bankers As
sociation at New Orleans in Novem-
has grown to 80 in the past few days,
Thomas j. Groom, who is acting as
transportation chairman, announced
today.
Since the first list was published
seven more names have been added
and it is possible that still others will
take the trip when the time actually
arrives. Latest additions are Ord
Preston, president of the Union Trust
Co.; E E Mountjoy, Washington rep
resentative of the American Bankers
Association: W. Frank D. Heron, vice
president, Union Trust Co.; John K.
Mckee and Samuel H Husband. who
are connected with the Reconstruc-
tion Finance Corp; Frederick P. H.
Siddons, treasurer of the American
Security & Trust Co., and president
OF the District Bankers Association
last year, and Miss Katherine NJ.
Krieg, Riggs National Bank, who is
President Robert v. F1eming's secre-
tary.
Chairman Groom sent letter to
members of the party. which was re-
ceived this morning, asking for trans
portation preferences or suggestions.
Washington bankers will probably
take the trip in special Pullmans at
tached to a bankers special with
New England. New York and Phila-
delphia f1nanciers, or on one of the
regular trains out of the Capital.
They will stop off at Chattanooga to
visit Lookout Mountain and Chick
amauga battlefields and at Biloxi to
enjoy a luncheon at the beautiful
home Of R. S. Hecht, present head
Of the A. B. A.
Bank to Hold Election.
The Federal Reserve Bank of
Richmond has sent out notices TO
member banks in the fifth district
announcing an election to choose
SUCCESSORS to Directors L. E. johnson,
president. First National Bank, AID
erson, w. Va, and Edwin Malloy,
president, Cheraw Cotton Mills in
South Carolina. Their terms expire
December 81.
Mr. johnson was elected by banks
In group 8 as a class A director,
while Mr.. Malloy is a class B direc-
tor chosen by the banks in group 2.
The same banks will elect their sue
cessors. The voting is done by mail,
the polls opening on November l and
closing October 16. Any nomina-
tionS a bank wishes to make must
be made by action of the Board of
Directors in a special resolution.
The notices list all the banks in
the fifth district which are included
in the two groups. Washington banks
will take their usual part in the
election.
August Farm Income Higher.
Cash income from sale of farm
products in August was estimated at
S549,000,0 compared with $541 ,0o0.-
600 in July and $536 1000, 900 in
August, 1884, the Department of
Agriculture reports. The increase in
income from July to August this year
was greater than usual, it was stated.
Total cash income, including rental
and benefit payments in August was
S593, 1000 compared with SAT- ,00O,-
coo in July and S608, 1000 in Aug
ust, 1884.
For the first eight months of 1895,
farm income, including rental and
benefit payments, was $4,000, 900 900
compared with 54,000,000 during
the corresponding period last year.
Average daily sales of chain drug
stores in August were 80 per cent
greater than for July and 54 per
cent in excess of August. 1884, ac-
cording to the Department of Com
merce. This estimate is based on
returns from 16 representative COM
panies operating more than 80 of the
chain drug stores maintained in IS
States and the District of Columbia.
Heard in Financial District.
Stockholders of the Bank of Com
inerce and Savings will hofd their an
nual meeting next Monday forenoon
in Alexandria, Va.
Bank clearings in washington for
the week ended Wednesday were Is
per cent above the same week last
year. The national average showed
q gain Of 20 per cent. Richmond
clearings were up ST per cent and
Baltimore 10.7 per cent.
Wholesale prices during the week
ended September moved up 0.2 per
cent, Labor statistics announces,
new high for the year. The rise lifted
the bureaus index to 81, compared
with IT'S year ago and tbs in the
corresponding week in 1888.
The Fidelity g. Deposit Co. of Mary
land has announced the election Of