Evening star., 1935-03-20
III TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE
BANK INCREASES
ADVISORY BOARD
American Security Adds
Five New Members to
Branches Group.
BY EDWARD c. STONE.

lruSG 70. ldGe ytoIClody AiA-nAi 49,
Miller. DR.. A. Nfagruder Macdonald,
Sidney L. Hechinger, John D. Green
and Gilbert Hahn.
Mr. Miller is president of the Will
liam E Miller Furniture Co, located
lust across the street from the trust
company'S Southwest branch. He has
been in business in that section OF the
city more than 81 years. For the past
two years he has been president OF the
Southwest Citizens Association.
DR.. Macdonald, who was appointed
District coroner in 1884, practices
medicine in the Northeast section.
Former resident physician at Emer-
gency Hospital and later superintend-
ent of Casualty Hospital and a grad
uate of Georgetown Medical School,
he has found time to follow business
affairs closely, being member OF the
Washington Board of Trade and the
Northeast Citizens Association.
Mr. Hechinger operates four build
ing material sales yards, under his
own name, having been in the build
ing wrecking business for "a years. A
native of the Capital, he was gradu-
ated from Business and Central High
Schools and from Lehigh University.
He is a member of the Board OF Trade
and a member and secretary OF the
National Code Authority for the
Wrecking and Salvaging Industry. He
is a member of the Northeast Busi-
ress Mems Association, also of the
Northeast, Southwest, Georgia Avenue
and Mid-City Citizens Associations, as
well as of many other organizations.
John D. Green is regional man
ager for the Continental Baking co.
He was formerly associated with the
Corby Baking Co. of this city.
Gilbert Hahn is a member of the
firm of William Hahn & Co. and
son of the late William Hahn who
established the shoe business at SeV-
enth and K streets northwest. He Is
a member of the washington Board
of Trade, Advertising Club of Wash
1ngton, National Shoe Retailers AS
sociation, Woodmont Country CLUB
and of Harmony Lodge of Masons.
At the same meeting the American
Security & Trust Co. directors de-
clared a dividend of per cent on
the capital stock, payable April 10 to
ELOCkIlOlQeIS N1aASIl oV'
Store Dividend Increased.
Directors of Woodward & Lothrop
have declared higher quarterly dlvl-
dend on the common stock, voting
55-cent payment to be distributed to
March % to stockholders of record
March IS.
The directors made no statement
whether the increased dividend would
be declared regularly in the future.
However, the increase is significant OF
improved business conditions and
means regular payment of S220 a
year instead of s12O if similar action
is carried throughout 1885. Last year
a 6O-cent payment was voted during
the year in addition to the regular
Sl.20.
The directors voted the regular
quarterly dividend of s1.75 per share
on the preferred stock. This disburse-
ment will likewise be made on
March %.
The common stock is now quoted
around 81 on the Washington Ex-
change and the preferred sells around
40 and Ill, with very little offered at
any price.
Tel. & Tel. Eyed Closely.
In the Washington brokerage Offices
American Telephone & Telegraph
stock has come to be one OF the
most closely watched issues in the en-
tire New York Stock Exchange list.
Shortly after the congressional in
vestigation, to cost S750,000 and cover
the long period Of 18 months, was
ordered, the stock dropped below 100.
The stock has been one OF the STEADY
ing issues on the board all during the
depression period and had not broken
below par since early in May, 1888.
Tape followers call attention to the
fact that American Telephone has
paid the regular per cent dividend
throughout the depression, although
the dividend was not fully earned.
The Government long ago requested
all corporations to maintain their cur
rent disbursements in order to assist
in fighting diSrupting economic forces.
To comply with such a policy the
company had to draw heavily on sur
plus, a step which has been greatly
appreciated by more than 100000
stockholders.
Business is getting better and better
every month, but the dividend is not
yet being entirely earned, although
there were 81, 100 more phones in use
in the first two months of 1885 than
in the like period in 1884.
Every day the stock is very active.
The high yield at present prices has
prevented any sharp fluctuations. Few
other stocks on the board would have
held as steady under similar condi-
tions. 1t opened today at 101.
The stock is widely held by small
investors of very limited means. They
are even more interested in its action
than are the brokerage Office fire.
quenters.
T0day's Trading on Exchange.
Capital Traction SIS were strong on
the Washington Stock Exchange to-
day, selling at 97l2. Potomac Electric
Power IS were strong, changing hands
at 110. same as other recent sales.
Riggs National Bank common stock
moved at 2l2 and Washington Loan e.
Trust Co. stock also came out on the
pOdIu, live SIldlISAlS SI1p
at 200. The remaining trading was
confined to Mergenthaler Linotype,
which was in good demand at 80.
unchanged.
The exchange is planning to make
q temporary trial of remaining open
until II O'Clock every day. This will
give local investors a chance to place
orders up to that time.
Financial District Gossip.
The Washington banks today
through newspaper advertisements
offered special services to patrons in
exchanging the called Fourth Liberty
bonds for the new 27s per cent Treas
ury bonds. Fourth Liberties having
numbers in S, or 7 may be ex-
changed for the new bonds provided
they are presented on or before March
27. Interest on the old bonds ends
after that date.
Gov. Eccles of the Federal Reserve