Evening star., 1936-02-16

odllhS ANo1A W. SOAO Va
w. B. Hibbs & Co.. and first vice presi-
dent of the District Bankers Associa-
ton; Victor B. Deyber, chairman of
the board, Second National Bank;
Charles H. Doing, first vice president,
Washington Loan & Trust Co. and
president District Bankers Associa-
ton; Thomas j. Groom, vice president
Bank of Commerce g. Savings and
second vice president District Bankers
Association; Hilleary G. HoSkinSon,
vice president, Riggs National Bank
and third vice president District Bank
erS' Association: Howard Moran, vice
president, American Security 81 Trust
Co.; C. H. Pope, vice president and
treasurer, MunSey Trust Co.; :;'Ord Pres
ton, president, Union Trust Co.; Wal
ton L. Sanderson, assistant cashier,
Hamilton National, and chapter presi-
dent last year; Frederick P. H. Sid
dons, secretary, American Security &
Trust Co.; George o. VasS, vice presi-
dent and cashier, Riggs National, and
Wilmer J. Waller, vice president and
cashier, Hamilton National.
General Chairman Norris said yes
terday that 700 reservations have al
ready been made and it is planned to
close the list Tuesday. He believes
the thirty-first anual banquet will
measure fully up to the standard of
former years.
Ice Slows Up ID. C. Trade.
Retail trade in. Washington still was
retarded during the week by the con-
tinued cold weather and icy streets,
department store sales being down Is
per cent from the previous week and
slightly under the same week last year.
Bank clearings increased sc per cent
from the previous week and were 24.6
per cent higher than the corresponding
week a year ago, the Department of
Commerce reported yesterday.
The value of building permits drop
ped As per cent from the previous
weeks report, but were 27.5 per cent
higher than in the same week last
year. Naturally there was slowing
down in tourist activity in the city, as
Judged by the number of visitors at
the Smithsonian Institution, 1858,
against Is, ,284 week ago.
Business in the entire fifth Reserve
district was keenly sensitive to the
extremely inclement weather of the
week. with consequent recessions in
trade. Richmond bank debts drop
ped Norfolk was hit by ice condi-
tionS in the Chesapeake Bay area
with q cut in coal dumpingS, as well
as in store sales.
Transit Stock Leads Market.
Capital Transit stock was the most
active issue on the Washington Stock
Exchange yesterday. In 10 consecu-
tive sales 120 shares turned over at
1917. The final bid was 1872, offered
at IA.
Transit stock is in the limelight be-
cause of the so per cent drop in net
earnings in 1885. However, it is
probable that by the end of this year
there will be a real reduction in ex-
penses for new busses, track changes,
etc, which will be reflected in profits
and improve the dividend outlook
1t requires $240,000 to pay a 81 divi-
dend on the stock. In 1885 net earn
ings stood at s3S3,417.39, a generous
margin above what a 81 dividend
would require.
National Bank of Washington stock
sold yesterday to the extent of IL
shares at 108A, the highest price
recorded in a long time. National
Savings & Trust changed hands at
par. 1t was announced that Peoples
Drug Stores. Inc, has declared the
regular quarterly dividend of 25 cents
q share on the common stock, April
to stock of record March 9, and the
usual quarterly dividend of $1.62h
on the preferred, payable March Is to
shareholders of record March 2. The
preferred is listed on the Washing
ton Exchange and last sold around
I13.
Heard in Financial District.
Great interest has been manifested
here in the sharp advance in Ameri-
can Telephone stock The weeks final
bid on the local board was lit. In
vestment buying and the rapid in
crease in the number of new phones
In service are given as the chief rea-
sons for the unexpected upswing.
Between so and so weak banks will
be merged with stronger institutions
or replaced by new banks during the
next four and half months, Leo T.
Crowley, chairman of the Federal
Deposit Insurance Corp, predicted
yesterday.
Net earnings of $2,564,000 were
realized by the Federal Intermediate
Credit Banks during 1885, the Farm
Credit Administration announced to-
day. The banks have $131, ,oo5, 900 in
debentures outstanding.