Evening star., 1935-03-17
Preston Is Vice Chairman of
Committee in Charge of
1885 Convention.
OTHER BANK LEADERS
ARE INCLUDED IN LIST
Capital Traction Bonds Sell at
New Peak Price on Wash
ington Exchange.
BY EDWARD C. STONE.

rIcuClNh I. II. oluuOllS, pltSlutIll
of the District Bankers Association,
and secretary of the American Security
&, Trust Co.. announced the appoint
ment yesterday of % officers in WASH
ington banks to serve on the General
Convention Committee for the 1885
gathering to be held at Hot Springs,
Va. May 80 to June 2.
President Siddons recently ap-
pointed Hilleary G. Hoskinson. vice
president of the Riggs National Bank,
general convention chairman, and Ord
Preston, president of the Union Trust
Co, has now been selected as vice
chairman. The other members Of the
committee, named yesterday, include:
Corcoran Thorn. president American
Security &ATruSt CO. j. Frank Camp
bell, president. AnacoStia Bank: Maur-
1ce D. Rosenberg. president, Bank of
Commerce & Savings: c. F. Burton,
president, the City Bank: Frank j.
6tryker. president. Columbia National;
s. w. EarnShaw, treasurer, East Wash
ingtOn Savings Bank: E. c. Graham,
president, Hamilton National; w. w.
Spaid, partner, w. B. Hibbs & Co..
Rolfe E. Boiling, president, Liberty
National: Floyd E. Davis. president.
Lincoln National: Lanier P. McLach-
len, president. McLachlen Banking
Corp: Bertram Chesterman. presi-
dent, Morris Plan Bank; c. H. Pope,
vice president. Munsey Trust Co.;
George L. Starkey, president. National
Bank of Washington; Henry H Nc
Kee, president. National Capital
Bank; George w. White. president,
National Metropolitan: H. Prescott
Galley, president. National Savings &
Trust Co.: Robert " Fleming, presi-
dent, Riggs National; Victor B. Deyber,
president. Second National; Francis
G.. Addison. jr.. president. Security
Savings & Commercial. and Harry G.
Meem. president, Washington Loan &
Trust Co.
Ord Preston. the vice chairman. has
been president of the Union Trust
Co. for several years. having sue
ceeded the late Edward J. Stellwagen,
one Of the founders of the bank.
Before becoming head of the insti-
tuition Mr.. Preston had rendered long
service on the Executive Committee.
He has been a regular attendant at
the annual conventions of the Dis
trict Bankers Association since &C
lively entering the banking field. To
many people he is particularly we'll
known as former president of the
Washington Gas Light Co.
President Siddons said yesterday
that the committee handling the pro-
gram. transportation. hotel accom-
modations, sports and other enter
tainment will be announced shortly.
Traction Bonds at New Peak.
Capital Traction SIS sold at the
highest figure on the Washington
Stock Exchange yesterday that they
have reached in several years. 971a.
They had changed hands earlier in
the week at new high of 81. Yester-
day the bonds advanced half a point
and recorded three 81 900 transfers
at the new level, making a gain of ia
points during the present year.
washington Railway & Electric
preferred stock was in lively demand
yesterday at 103A. In seven consecu-
tive sales Of 10-share lots the stock
maintained its recent advance: also
standing at the best quotations so far
In 1885.
Lanston Monotype stock appeared
r1
ownership at so, same as other recent
transactions. Mergenthaler Linotype
stock was also in the trading zone, two
10-share lots moving at 80, the price
which has obtained for some weeks.
The weeks business closed with
Washington Gas Light IS, Series B,
selling at l033s. price unchanged and
at the 1885 peak. During the week
Capital Transit stock moved against
the upward trend in other issues. The
stock closed with % bid and 23la asked.
The stock has sold as high as 26l5 this
year. the last sale being made at %.
Washington Gas Light SIS, 1860, pro-
Vided thrill on the Exchange during
the week by selling at 1151k for the
first time since they were listed.
Financial District Comment.
Brokers in local New York Stock
Exchange houses yesterday expressed
great interest in the latest move of the
Securities Exchange Commission to
push along efforts to establish rules
and regulations for r-the-counter
trading. There has been a great deal
of discussion on this point
In Hartford. Conn, most of the past
amount of trading in insurance stocks
Is being done over the counter, with
out regulation. In Buffalo the Ex-
change has suffered severe falling
of In trading, the same situation pre-
changes declare that all trading
should be on an even basis and that
there should be no advantages in the
sale of securities of the exchanges to
the detriment of the organizations
which are complying with the Com
missions regulations.
Gov. Eccles of the Federal Reserve
Board says that the banks receive
1920. .000, 900 in interest on Government
obligations and billion, as has been
claimed by some critics. He terms
this interest a subsidy to the banks
which is necessary to keep them alive
in the present loanless period" and
to repay them for their services as
and clearing houses.
Edward E. Fisher of the foreign
of the Riggs National
Bank was receiving congratulations
yesterday for a high honor conferred
by the government of France in his
selection as an Office d'Academie in
recognition of his services In the in
terest of France Notice of the honor
was conveyed to Mr.. Fisher by the
French Ambassador, Andre de "a
boulaye.