Evening star., 1935-06-25

,a;, raaor+ad Albert E. Fisher.
the Capital was up 1875 per cent; in
was up about l per cent. In Rich
mond sales were off II per cent and
in Baltimore down sc per cent.
For the first five months business IN
the Capital was up 1875 per cent, in
Richmond, per cent. Baltimore, 08
per cent; in a group of other cities, 80
per cent, and in the whole fifth dis
trict, 81 per cent.
Stocks on hand at the end of May
were slightly lower in Washington
stores than at the same time last year
and were off IA per cent for the
whole district, down 48 per cent in
Baltimore, but up 4.8 per cent in
Richmond.
Stocks were turned 1893 times in
May in Washington department stores
and 1.743 times in the first five
months of the year. The average for
the 81 department stores in the entire
district was 1887 times.
Fisher Safe Deposit Head.
Albert E. Fisher, who has just been
elected chairman of the Safe Deposit
Section of the District Bankers ASso-
citation, has been in the employ of the
Riggs National Bank for II years and
manager OF the Safe Deposit Depart
ment since 1928.
Born and educated in Washington,
he was employed in the city post Office
for about 20 years, advancing from
substitute clerk to secretary to the
postmaster. He is holder of the
standard and postgraduate certifi-
Gates of Washington Chapter, Ameri-
can Institute of Banking, and has al
ways taken wide interest in institute
work.
He was vice chairman of the safe
deposit section last year and succeeds
Richard E. Harris of the American
Security & Trust Co., who becomes
member of the Advisory Council.
Registration Date Extended.
The Securities and Exchange Com
mission has extended until July Is the
effective date of permanent registra-
ton of all securities temporarily reg
1stered on the national securities ex-
changes. The date had been June 80.
About 900 securities not registered
will benefit by the additional time
Most Of them are on the smaller ex-
changes. The time was extended to
avoid confusion, the commission an
nounced. It had been predicted here
for several days that such action
hou 10 he %oly
corporations having securities on the
Washington Stock Exchange have al
ready applied for permanent regiStra-
ton.
Another announcement of great i'm
portance comes from the Senate
Banking and Currency Subcommittee,
which transmitted a report to the full
committee resolution extending for
one year the temporary deposit insur-
ance provisions of the Federal Deposit
Insurance Corp, which otherwise
would expire July 80. This action was
accepted by the full committee and will
probably mean that increased assess
ments on the banks for deposit insur-
ance will be postponed temporarily
and perhaps permanently.
Underwriters to Meet Friday.
j. E. McCombs will be indicted into
once as president of the District of
Columbia Life Underwriters Associa-
ton next Friday noon at the Willard
Hotel. At this meeting he will out
line his plans for the coming year and
also name the chairmen of the diff
ferent standing committees As he
was the unanimous choice of the as
sociation for the presidency, a particu-
lsrly harmonious and active year is
predicted.
More extensive adoption of uniform
cost accounting methods was urged
by John Moran, cost accountant, the
National Fertilizer Association, Wash
ington, in an address in Boston today
before the sixteenth International
Cost Conference of the National AS
sociation of Cost Accountants. Several
local accounting experts are at the
conference.
Perhaps the greatest obstacle en-
countered in the work of installing
uniform accounting systems is the
natural human trait of hating to
make a change. Firms long accus-
toned to certain set of accounts are
slow in adopting new method.
To be effective, it is not enough
merely to install uniform accounting
system and see it started. One of the
most important factors Is to cause the
manufactured to become cost con-
scious and to encourage him and his
stan In the work of making frequent
cost analyses" the Washington speak
er said.
Trading Lively on Exchange.
The Washington Stock Exchange
recorded another lively session today,
opening with five consecutive sales of
Washington Gas SIS, 1860, all made at
1l8, up half a point and back to the
high mark for the year. Washington
Gas SIS, 1858, were also in demand,
selling at l06h and l06. Capital
Traction IS again moved at 81.
Riggs Bank common stock sold at
110, Columbia Title ms Co. at 5A,
Lanston Monotype at 81 and WASH
AakJou SdS 1ASAs SeoCh d1 oo72. 4uc
final stock sale was In Potomac Elec-
trio Power 9 per cent preferred, which
changed hands at 110Aa. same as the
last previous sale. Other quotations
were practically unchanged.
Heard In Financial District.
@. Bowie Chapman, manager of the
Washington Office of Laidlaw & CO.,
viii leave the Capital this week for
his Summer home at Castine, Me. He
has owned q beautiful place on Pc
cobscot Bay for several years.
Acting Housing Administrator Nc
Donald announces that the new rules
and regulations governing the mutual
mortgage insurance plan under the