Evening star., 1936-01-08

The bureau, operating for Truth in
Advertising and Integrity in Business,
has met with increasing support from
business firms in the city. The policies
of the bureau have been set by its
board of directors, Lanier P. Nc
Lachlen, president of the McLachlen
Bank, serving as chairman of the
board, succeeding Francis G. Addison,
jr., president of the Security Savings
e. Commercial Bank, who is still a
member of the board on the Execu-
tive Committee of the bureau.
Other officers serving during the
year are B. B. Burgunder, S. Kann
Sons Co., vice chairman; Y E. Booker
of Y. E. Booker g. Co.; r. B. H. Lyon,
serving as counsel; Y. E, Booker,
treasurer; James w. Hardy OF Wood
ward & Lothrop, as chairman OF the
Merchandise Advisory Committee.
During the year, $50 radio talks
we're given, in which caution in in
vesting was urged. Through co-opera-
tion of the newspapers wide publicity
was given and a great deal accom-
plished in the way of preventing
fraud.
1t was feared that the end of N. r. A.
codes of fair competition would find
advertising degenerating, but these
fears did not materialiZe. Director
Rothschild reports. The standards o.
accuracy and truth have been largely
kept up in Washington, he adds.
He considers this fact high tribute
to advertisers and advertising media,
increasing vigilance being shown
against methods which destroy public
confidence. He said today that 1885
was one of the best years since the
bureau started and believes the service
in 1886 will prove equally valuable, as
recovery spreads and progresses.
Hume Goes to Wall Street.
Thomas L. Hume, jr, who has been
active in the financial district for sew
eral years, has taken a position in the
sales organization of Lazard Freres &
Co., at II Nassau street, New York
City. Friends say he has an unusually
fine opening. The firm he is to work
for has a wide reputation in this
country and a big Office in London.
Mr.. Hume will be at the Nassau
street Office, but will have Washing
ton as a part of his territory. He is
to have territory in New York and in
Northern New Jersey also. The firm
handles many new issues as well as
other investment securities.
For eight years Mr.. Hume was with
the Washington Office of the Guar
anry Co. of New York. More recently
he has been with MacKubin, Legg &
Co., New York Stock Exchange firm,
with Offices in Washington, Baltimore
and New York.
Lands Sees Buster Trading.
Chairman James NJ Lands of the
Securities Exchange Commission de-
clares that there are already evidences
that 1856 will see increased trading
in the security markets of the coun-
try, market activity on considerably
larger scale than was the case during
1885" At the same time he stresses
the importance of greater control by
the commission of -the-counter
trading, a problem on which officials
have been working for many months.
In an address in Detroit Chairman
Lands said some smaller exchanges
need rehabilitation and greater COM
mlmity cooperation. He urged will
ingness on the part of the manage
ment of local enterprises to assume
greater responsibility to stockholders,
suggested education of the investing
public to the benefits of buying secur-
tiles and the exchange, and urged ex-
changes to maintain fair practices
and reduce the cost of operation. He
hopes at an early date to see elimina-
ton of the unfairneSS that exists now
between listed and unlisted trading.
Financial District Gossip.
Directors Of the Terminal Refriger-
ating e. Warehousing Corp. have de-
clared the regular semi-annual divi-
dend of $1.50 per share on the out
standing stock, payable January to
stockholders of record January Z.
Books will be reopened at the begin
ming of business on January 10.
John N. Buck, Washington repre-
sentative of the Atlantic Life Insur-
ance Co. of Richmond, will leave here
Friday to attend the sixteenth conven-
ton of leading statesmen at Hollywood,
Fla, January IL to Is. In order to
take the trip he had to write an extra
large amount of new business in 1895.
He has been with the concern since
1895, the company being IS years old
this year.
The keystone Automobile Club re-
ports an increase in the headquarters
staff, due to 1885 growth. until all
divisions now have the largest person.
mel since organization.
Tenders for the latest S50,000.o00
offering of Treasury bills reached
sl32,204,OOO, Secretary Morganthau
announced today.
Today Trading on Exchange.
Trading on the Washington Stock
Exchange today opened with five 81 900
transfers in Capital Traction IS, all
made at e21s. Washington Railway
g. Electric As also appeared on the
board, selling at 1885.
washington Railway & Electric pre-
ferred came out at 1o8la on six 10
share sales. Mergenthaler Linotype
was also in demand, five l0-share sales
being recorded at Ala, same price at
which it sold in Boston yesterday. The
bid on Washington Railway & Electric
common stock was raised from $525
share to $3.50 today.
The New York Stock Exchange drew
throngs to local board rooms today for
the opening which start out like a
whirlwind. Commonwealth & South
ern common led trading on the big
board yesterday with 192,200 shares
changing ownership. In the next stock
to it there was a 100000 share turn
over