Evening star., 1935-05-22

the most serious S
questions before Wv u.--,-on
the conv ention '" D. Af''S0h'
related to protection of the smaller
exchanges from over-the-counter COM
petition. This has presented a very
serious problem for many months and
one on which the Securities Exchange
Commission has been hard at work.
The smaller exchanges demand that
unlisted stocks and bonds be placed
which they are operating.
Some registered exchanges say they
cannot function unless that is done.
In some cities this -the-counter
unrestricted competition has been most
destructive to the exchanges which
have been complying with all the New
Deal rules.
The latter part of the convention
almost turned into a love feast. in
which the sincerity and ability of the
members of the Securities and Ex-
change Commission we're highly
praised. In his analysis of the gen.
eral regulation problem Commissioner
James M. Lands made a favorable
impression in his st. Louis address.
Harrison Joins Murphy Staff.
Walter j. Harrison, who has been
with Hemphill, Noyes & Co. for the
past two years, has become associated
with the Washington Office of G. NJ P.
Murphy & Co., members of the New
York Stock Exchange. Born in Lees
burg, Va, he attended the Virginia
public schools, Woodbury. Forest Prep
aratory School and the University of
Virginia. His father was president of
the Loudoun National Bank, which was
organized by his grandfather. who also
was president of it until his death.
Mr. Harrison got his first banking
experience with the Peoples National
Bank in Leesburg, where he worked
for seven years right after leaving
school. He came to Washington in
1915 and took a position with the
Commercial National Bank, remain
ing with the institution 10 years His
advancement was steady. During the
last seven years with the Commercial
he was a vice president.
Another announcement of interest
to the financial district states that ].
Fendall Coughlan, for the past IA
years with the Columbia Title Insur-
ance Co., has just been made registrar
of the Georgetown Law School. His
father, now deceased, was for years
vice president of the same title COM
pany. Mr.. Coughlan has been assist
ant treasurer of the Law School since
1928 and is a graduate of the school.
He was at one time connected with
the National Metropolitan Bank.
Business Pickup Striking.
How fast Washington is moving
away from the depression is wildly |
pictured by the latest compilation of
business barometer by The Star. The |
Potomac Electric Power Co. April re- |
port shows a total of 44,862, ,678 kilo-
watt hour sales in the District of Co |
lumbia against 30,810 ,085 in the same |
es0, ,589, or 1873 per cent
Postal receipts at the City Post |
Office tell the same encouraging story, |
which has been revealed every month |
so far this year Receipts in April |
to S541 ,29541 as compared |
with only $462 ,221 in April, 1884 and |
$454,7 in that month in 1888. 1t is
an advance of S79.074 in the month |
under review over the same period |
last year.
The telephone report is also particu-
larly encouraging. Washington being
served by 193,858 telephones at the
close of business on April 80 as COM
pared with 1883 on the same date
in 1894, a net gain of 1909 during the
and of 4,887 in the first four |
months of the year The Chesapeake
g. Potomac Telephone Co. also en-
joyed generous increase in the num-
ber of daily calls, an average of 794,547
being reported in April this year
against 1928 average daily calls
a year ago.
The sales index of department store
trade backed up the other barometers
with the most notable improvement of
any month so far in 1885 as compared
with the same months in the previous
year. At the same time check trans
actions showed a further business
pickup when bank clearings reported
by the Washington Clearing House
totaled s77,447.954, a jump of over
figure.
In addition to these indicators is
the monthly life insurance gain in
the District of 35 per cent over last
year for April and a rise of 81 per
cent in the first four months of 1885.
Bond Club Reservations Mount.
Reservations for the annual outing
of the Bond Club of Washington
crossed the $50 mark today, President
James Parker Nolan reported. This
means the attendance will be as large
or larger than last year, very likely
hanging up new record for the club.
The outing will be held Friday
The committee chairman now are
waiting anxiously to award the honors. |
These chairman include Charles c.
Allies, Brown, Goodwin g. Co., General |
Committee; Harry w. Finney, Y. E.
Booker & Co., Golf; D. H. McKnew,
Prizes; Mounford Ellis, Horse Shoe
Pitching; Robert T. Norman, Alex
ander Brown & Sons, Putting; T. |
Baker Robinson, G. M. p Murphy & |
Co., Nominating Committee, and Carl |
r. Kurtz of Stroud, Kurtz & Co.,
syndicate manager.
Seats for the mock session of the |
Washington Stock Exchange were all |
sold last week In fact some of them |
have been resold at substantial ad-
vance. Guests from Baltimore will |
include John G. Legg, partner in |
McKubin, Legg & Co. and a governor |
In the Investment Bankers Associa-
ton: John B. Ramsey. president Of
the Baltimore Bond Club, and Robert |
B. Hobbs, chairman of the Southeast
ern group Of the same association.
s5,155,O0O in New Insurance
The life insurance week sales cam |
paign in Washington resulted in l,70l |
new applications for life insurance,
involving an aggregate total of $5,-
155, 900, it was reported at a victory |
luncheon held at the Willard Hotel
this noon by the District Life Under
writer's Association and other prom |
inent agents. F. N. Stricklin was
20 rfain NJ the winning team which |