Evening star., 1937-05-27
VOLUME CLIMBS
ON D. c. EXCHANGE
April Sale Hit $220,804,
Compared With Only
$193,058 in March.
BY HAROLD ROGERS.

OF the Security and Exchange Com
mission.
OF this, stock sales showed an in
crease from 1880 shares, valued at
$l3l, ,498, in March, to 1886 shares,
valued at $l55,793, in April.
The principal amount of bonds sold
increased from $62,50o in March to
$6S,500 in April, while the actual sale
value gained from $61 $50 to $65,0l1
during the same period.
For the country as a whole the
dollar value of sales on all registered
securities exchanges in April amounted
to $2,373,658.233, a decrease Of 305
per cent from the value of sales in
March, and an increase of 8.5 per cent
over the value of sales in April, 1896
Stock sales Cincluding rights and
warrants, had value Of s2,052 ,31s,361,
q decrease of 3l.1 per cent from
March. Bond sales were valued at
1921, ,274,396, a decrease of 26.8 per cent
from March.
The two leading New York ex-
changes accounted for 96.1 per cent
Of the value Of all sales on all regis
tered exchanges, 95.5 per cent Of
stock sales and 99.9 per cent Of bond
sales.
Hospital Data Filed.
The Doctors Hospital, Inc, a Vir-
ginia corporation which plans to erect
q new hospital on I street between
Tohfoorfh ord ~ %e
yesterday filed an amendment to it's
registration statement which has been
pending for 20 days before the Securi-
ties and Exchange Commission. The
amendment, which now goes before
the commission for consideration along
with the original statement, contained
additional details of the proposal.
The corporation in its statement
proposes to offer 1000 shares at SlOO
par value, out of the 5000 shares au-
thorized, for sale only to certain
members of the medical and allied pro-
fessions." 1t is planned to spend
S20l,805 for the purchase of land,
100000 for the hospital building, in
cluding the architects fee: Sl94OO0
for furniture, fixtures and equipment
and S4,l95 for organization expenses.
The sale of stock would bring in
100000. and it is proposed to raise
s600,000 from construction loan for
total proceeds of Sl,OOO,OOO for the
project. DR.. Charles Stanley White
Is president of the new corporation,
DR.. Oscar B. Hunter, secretary, and
corIrnr 1f lot l..
counsel
Bankers at Conclave.
Much interest was being expressed
In local financial circles here today
in proceedings before the District of
Columbia Bankers Association con-
vention at White Sulphur Springs,
where many local bankers are in at
tendance.
President Tom K. Smith of the
American Bankers Association, re-
ferring to the general upward move
ment" in building activity and the
stock market. and the resultant in
crease in total of bank deposits, OBJ
served that blanks have little control
over this upswing."
Banks have no control over the use
depositors make OF their money" he
said, and the banks therefore cannot
force restriction of the activity by
adopting more stringent loan policy.
by no means, however, do I wish
ny statement that banks directly can
not control this upward movement to
be taken as an indication that there
is no possibility of controlling it, and
that we are necessarily going to have
. period OF drastic imitation I have
confidence in the view of those econo-
mists who hold that recent legislation
has given the authorities adequate
powers to control the situation, pro-
vided the necessary steps are taken.
Opposition to two banking bills re-
Gently introduced by Senator William
g. McAdoo-one to provide for inter-
state branch banking, the other to
eliminate holding companies owning
controlling interest in banks-was
voted at conference of Eastern Vir-
ginia bankers called several days ago
at Old Point Comfort, Va.
The committee appointed to cam
paign against the bills includes L. M.
Won Shilling and COL Joseph E.
Healy Of Hampton; G. Franklin Lenz
and Samuel E. Plummer of Newport
News; R. w. Dudley and I. T. Van
Patten Of Norfolk; j. r. Rowell Of
Smithfield, Jack Nurney Of Suffolk,
Otto Lowe Of Cape Charles and
TAarrn - %HN
Shore.
Exemption from securities act reg
1stration to so-called intrastate Offer
ings Of new securities is designed to
apply only to such types Of distribu-
tions as are genuinely local in char
acter, according to Allen E. Throop,
general counsel Of the Securities and
Exchange Commission.
In a letter to the Investment Bank
ers' Conference, Inc, clarifying the
meaning Of the intrastate exemption
provisions Of the securities act, Mr..
Throop emphasized that from a prac-
tical point Of view the provisions of
that section can exempt only issues
which In reality represent local financ-
~AAo ~ ASSaA AAAAAotA2CS Sdll lxCu Ouk
purely through local purchasing.
James w. Allison, vice president and
trust officer of the Equitable Trust
Co., Wilmington, Del, formerly trust
officer Of the First e. Merchants Ma
tional Bank at Richmond, will speak
to the Southern session of the Ma
tional Economic Conference to be held
In the Virginia capital on June 4,
Thomas c. Boushan, president Of the
Morris Plan Bank OF Virginia and
chairman Of the conference, an
nounced yesterday. The conference
Is sponsored by the Society for Sta
bility in Money and Banking.
q. S. TREASURY NOTES.