Evening star., 1937-06-05

.nt; George M. SIS
erris Of George l. cl.r. nrovn
I. Ferris g. Co.,
,cretary and treasurer: Frank M
IAll Of Hall, Peters & Bryson, mem
Ner Board Of Governors. T. c. Mont
omery. Waggaman, Brawner & Co.,
ne retiring president. automatically
secomes q member of the Board OF
Governors for q one-year term.
The annual outing was the most
argely attended by actual club mem
>ers Of any yet held. The membership
oil took u wild Jump during the year
ilere now being 40 more members
han = year ago. The number OF
uests this year was limited to a very
..w from out Of town.
The members held the usual mock
took exchange session in which there
AS much exciting bidding for the
rArioB ISSUES" Golf and other
ports contests and the usual dinner
lied out an unusually enjoyable pro-
ram. Elaborate and costly prizes
ere awarded the winners Of the
ariouS events.
The new automobile was awarded
. Joseph 6ener Of Mackubin. Legg &
TO-, Baltimore. The 500 merchan-
se gift went to c. J. Gockeler, Ham,
ton National Bank, and the golf
,uhs to G. Fenton Cramer OF Wagga-
ian, Brawner & Co. The $500 Capt.
u Traction bond WAS presented
unity to A. s. Hull Of K. s. Wales &
o. and James H. Lemon Of Johnston,
emon & Co.
The Outing Committee included E.
=. Olds. jr., chairman: Charles c.
lies, Myles H. Quail. c. Bayne Mar
ury, Richard P. Dunn, Frank ]. Ra-
sc, Donald H. McKnew and Harold
=. Patterson.
Business Above 1886 Levels.
The Federal Reserve Bank Of Rich
,ond reported today that business
the NTH Federal reserve district
: l April and early May maintained
,ves above the 1886 marks.
Debts to individual accounts in
prn in ~ cities amounted to ST.
l4,9lS,0 900, an increase Of IS per
,nt over April last year. There were
''wer business failures and liabilities
ere 20 per cent lower. Cotton con-
imption in the NTH district jumped
} per cent above the mark q year
%.
Building permits issued In 81 cities
lmbered 1881, against 3,236 . year
%, an increase Of As per cent. The
.lue Of these permits made q still
! ,tter showing, standing at $a,677, ,696,
11.6 per cent.
While department store sales were
! 2 per cent, following the let-down
le to the early Easter, wholesale
ade made . notable record, sales by
/; Arms scoring an increase Of 1876
r cent. Registrations Of new pas
niger automobiles numbered 26, ,9s7,
'ainst 1854 in April, 1896. stepping
!, So per cent.
Cotton Prices Remain Hixh.
Spot cotton prices declined In the
tier half Of April and the frst half
(, May, but are still higher than
this season in any year except
IS since 1880. Most Of the changes
the statement Of the Federal Re-
rye Bank OF Richmond in the month
ne seasonal or were OF relatively lit
Importance. The most interesting
velopmcnt OF the month was the
crease IN reserve requirements on
ay l. which brought these require
.nts up to double the base percent
e prescribed in the Federal re-
rye act. The increase on May l
u the third since last Summer, all
which were put into effect by
e Board OF Governors Of Che Fed
al Reserve System, in order to i'm
,und some OF the large excess re-
/; rves which accumulated In recent
ars.
The composite statement OF reRu-
rly reporting member banks showed
ly minor changes during the last
!onth. Employment showed little net
lanse during April. Some decrease
industrial workers was probably
1set or perhaps exceeded by in
eases. largely seasonal, in such fields
:; construction and agriculture.
Agricultural prospects are good on
ae whole In the fifth district, and
lrm work is farther advanced than
this time last year, today's report
.Ates.
Financial District Gossip.
An officers and directors OF the
,r,ental Building Association were re.
lected At the annual stockholders
ieeting yesterday as follows: Charlie,
Il. Bauman, president; Henry E
eckmAn, secretary; Charles w. Scha-
r, treasurer: Carl c. Haneke
Kolb. Chaplin B. Bauman, Thoma.
J. Young, Louis c. Dismer and c
.-lbert Parker, directors.
Lucius v. Friedli again was the Of.
caAl reporter at the convention OF tn
District Bankers Association. He ha.
aken complete account of the pro
oedings for the past 10 or is years
A oo1ngs being printed each year il
ook form.
May sales in straw hats in Wash
ngton should reveal a sharp upturn
Yearly everybody who went to Whit.
sulphur to the bankers conventio,
ought . new straw for the occasion
{ Is m open secret that Gov. Eccle
I the Federal Reserve Board almos
ahsed the train by pausing on tn,
'EAy to buy new Summer headgear.
Adolf Gobel, Inc, has notified tn,
New York Stock Exchange OF the elec
ION Of e. A. LAier as . vice presiden
md +. H. Chalcraft a. treasurer O
he company.
Robert H. O'Brien Of Chicago ha
1oen appointed assistant director O
be registration division OF the s. Z
o. Mr.. O'Brien succeeds Alexande
,. Hawes, who has joined the leg,
tan Of the National Labor Relation
Board.
The Securities and Exchange Com
MteSion has issued n aha andhook IN tn