Evening star. [volume] (Washington, D.C.) 1854-1972, 1937-10-20

llssfa stock C h ar t e r
amend m e n t of
fn'SA n"r'''"" s66 .2S6 shares Of
common stock, or 67l9 per cent. and
363.482 shares of preferred stock, or
6o.5S per cent. The total number Of
shares voted in favor was 1929, 1853.
while only 1855 shares were voted
against.
Further action by the stockholders
Is necessary before the amendment
NAV become effective. for that reason
the meeting adjourned until December
IA. At that time provisions of the
amendment will become final and
will supersede all conflicting pro-
visions of tie present charter, Presl-
dent Harrison stated.
John T. Watson of New York was
elected a director for three-year
term to fill the vacancy caused by the
death of Walter S. Case. Ernest E.
Norris of Washington. vice president
Of the Southern. was reelected a dl-
rector for three-year term. as were
Guy Cary and Richard S. Reynolds
of New York.
Mir. Harrison said during the eight
month period ending August 81, 1887,
the Southern had an operating in
come of sll.50l 1888, an increase of
s80.498 over the operating income for
the same period in 1886.
Section Chairmen Appointed.
The initial meeting of the 1878
f1duciaries' section of the District of
Columbia Bankers Association will be
held on Thursday. october %. at $50
pm. in the Chinese room a. the May
flower Hotel. Dinner will be served
and following a short business session
10 V. Morgan. assistant corporation
counsel for the District OF Columbia,
will address the section on the Law re-
Gently enacted. known as the Dis
trict of Columbia revenue act of
1887" with particular reference to its
inheritance tax phases.
Irving Zirpel. this years chairman of
the fduciaries' section. today an
nounced appointment of the follow
Ing committee chairmen for the COM
Ing year: Standardization. Leonard
Marbury. assistan- trust officer, Wash
ington Loan & Trust Co.; standard
lied trust forms, William V. Simmons,
trust officer. Liberty National Bank;
education and publicity, Lester A.
Lawrence. assistant trust officer Ma
tional Savings e. Trust Co; taxation,
Charles T Akre. trust department,
Riggs National Bank; trust law and
legislation. Earl G. Jonscher. assistant
trust officer. American Security e.
Trust Co.; life insurance trusts, Vim
cent A. Sheehy. r.. assistant trust Off
Ger, Washington Loan g. Trust Co.;
trust investments. Willard G. McGraw,
assistant trust officer, Union Trust Co.
Auditors Section to Meet.
The auditors section of the District
Bankers Association will hold the first
meeting of the year tomorrow night at
the Lafayette Hotel. with Chairman
Harry L. Downey presiding.
Mrs Constance F.. Jones of the Riggs
National Bank will address the section
on operations of the collection depart
ment Arthur J. Linn, Hamilton Ma
tional Bank, newly elected president
of the National Association of Bank
Auditors and Controllers. will report
on the Boston convention.
Brokers Honor G. Mp. Murphy.
The funeral of G. NJ. P. Murphy,
head of the New York Stock Exchange
firm bearing his name, was held in
New York at 10 o'clock this morning
end attended by four brokers from the
Washington Office, A. Chester Father
c. c. Morgan. T. Baker Robinson and
2. r. Finkenstaedt. Col Murphy died
early Monday from pneumonia. after
very short illness. Shortly after his
death, the firm made the following an
nouncement.
I'm accordance with the expressed
Vish of our late senior partner. Col.
Grsyson Mp. Murphy. the business
Of the firm will be continued by the
surviving partners without Interrupt
ton and under the same name"
Exchange Opening Calm Today.
The rush to the Washington brok-
erage houses continued today for the
opening of the New York Exchange.
The opening was irregular, with a ma
tority of the stocks higher than they
closed yesterday. Trading was very
active but without any of the excite
ment of yesterdays break
Interest in the market is astonish-
Ing, judging by the number of people
watching the transluX quotations and
the number of telephone calls asking
for information. Phone calls came in
80 fast at one time yesterday that at
least one firm could get no outside
lines for long time. There appeared
to be no hull in interest today and the
advances in many stocks brought
much more optimism
Cumberland Bonds Awarded,
The City of Cumberland, Md,
awarded to Stein Bros. g. Boyce two
bond issues totaling $4,000 The
$4,000 of per cent public works
bonds brought bid of 104229 Alex
snder Brown e. Sons bid 103.O53 and
w. w. Lanahan IL Co. bid 103.629. The
$4,000 of 21a per cent flood bonds
were awarded at 98559. Alexander
Brown e. Sons bid 97263 and Lanahan
bid o8.429.
The Pennsylvania Railroad reports
for eight months ended August 81 a
net income equal to Sl38 a share (par
$500 on the outstanding stock, against
q net income of s1.53 share in the
like period year ago.
Today's Trading on Exchange.
Washington Gas Light SIS, 1853, were
strong on the Washington Stock Ex-
change today. recording two $1,000
transfers at 1852, up half point.
Capital Transit stock held its own,
small lots changing ownership at 912.
Potomac Electric Power 6 per cent pre-
ferred sold at 113 and the 5l2 per cent
preferred moved at 111A.
Washington Gas preferred sold at
e9A and Lanston Monotype appeared
on the board in a sale at rs, against
10 nv,try