Evening star., 1936-04-02

against BOT in
February last ~
year and the c.o... Vs..
value of contracts ~ ~
totaled $2,646,295 against 1888, 400.
Other highlights in the report show
that trade was up to seasonal levels
in spite of the weather handicap.
There was a decrease in loans to
industry for working capital. Member
banks decreased their portfolios Of
Government securities but built up
their reserve balances. Demand de-
posts at member banks gained sub
stantially in February.
Employment conditions improved in
early March with the arrival of Spring.
Coal production scored a sharp rise,
spot cotton prices remained relatively
steady and tobacco manufacturing eX-
ceeded 1885. Wholesale trade showed
little change, but retail trade was
up 1874 per cent. Farm work in March
was delayed by wet ground.
Time deposits in Al reporting banks
in the fifth district and aggregate
deposits in II mutual savings banks
totaled s39S,17o,933 at the end of
February 1886, a higher figure than
either s397 7687,666 reported at the
end of January this year or s392, ,311.-
766 at the end of February last
year.
The record of the Fifth Federal Re
serve District in commercial failures
was worse than the national record
in February in both number of in
solvencies and in liabilities involved.
Watson Active Financier.
George A. Watson, treasurer of the
investment firm of K. S. Wales g. Co.,
who has just been elected to member
ship in the Washington Stock Ex-
change, is a native of the Capital,
and has been active in the financial
district for the past 18 years.
A graduate of Business High School,
he is member of the Washington
Bond Club and went into the invest
ment business just after he left school.
AS already noted, the seat he has taken
on the exchange was transferred from
the estate of the late c. c. Glover, sr.
He is the third member to be ad-
mitted to the Washington exchange
this year. The younger members are
taking lively interest in the organi-
zation. greatly to the benefit of the
daily attendance. Their orders are
also proving a real factor in the steady
increase in volume recorded so far in
1895, compared with the first quarter
Of 1885.
Mutual Fire Fills Vacancy.
Directors of the Mutual Fire In
surance Co. of the District on Monday
elected William K. Hill as a member
of the board of directors to fill the
vacancy occasioned by the death of
the late E. c. Brandenburg. Mr.. Hill
for many years has acted as commits
sioner of election at the annual meet
ing of the company and is connected
with the real estate firm of George
F.. Hane.
The annual meeting of the Mutual
Fire will be held next Monday, when
two directors will be elected to fill
expiring terms. The company reports
a successful year just closed.
Bankers to Push Convention
Charles H. Doing, president of the
District Bankers Association, has
called a meeting for this evening at
his Wesley Heights home of the Off
GERS and chairmen of all committees
arranging for the eighteenth annual
convention set for White Sulphur
Springs May 1881. 1t is the aim
of the association officers to make
this years conclave the best on rec
ord, if that is possible.
Senator King has introduced bill |
in Congress asking that the day after
Christmas be made a legal bank holi-
day in the District of Columbia this |
year. AS Christmas comes on Friday |
there is felt to be little demand that |
the banks open for half day Satur-
day. Victor B. Deyber, chairman of |
the Second National Bank, is chair
man of the committee urging the
holiday.
Lee H. Bowen, manager of the |
Washington Office of the United States
Fidelity & Guaranty Co., announces !
that the firms head Office in Balti-
more has established a training
school to help brokers and agents
become more familiar with every
phase of the insurance business. The
course lasts five or six weeks and is
open to any one connected with the |
firm in any city.
Railways As Lead Market.
Washington Railway & Electric as
were the market leaders on the Wash
ington Stock Exchange today. Trad
ing opened with two $4,000 sales, fol-
lowed by $4,000, $4,000, $4,000 and
$1,000 sales, all made at 10714, up
from the last previous sales at 1861. |
Capital Traction SIS again sold at e01s
Potomac Electric Power 5 p per cent |
preferred moved at ia, Washington |
Gas Light came out at 78 and Mergen-
thaler Linotype was strong at 4212,
against last weeks close at 4l14.
Several local bond Offices had gen.
erous blocks of the 100000, 900 Jones
& Laughlin Steel Corp. 414 per cent
bonds, due in March, 1861, which were
brought out today at 81. Bond dealers
here express great satisfaction over
the number of big new issues now be-
ing placed on the market.
Howard Moran, vice president of the
American Security g. Trust Co., has
returned to his desk from a weeks
vacation at Atlantic City.
Financial District Gossip.
John H. Hanna, president Of the
Capital Transit Co., commenting on
the February report, said that m
creased wages, taxes and the heavy
cost of snow removal practically
equaled the amount of the $67 900
deficit shown in the statement.
However" he added. revenues show
q very satisfactory rise, but are still
being exceeded by rising expenses"
Brokers announced today that the
New York Stock Exchange offices will
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