Evening star., 1938-03-14
NEW FEES READY
0ND. c. EXCHANGE
Higher Stock Charges in
Effect TomorroW-Bond
Rates Unchanged.
BY EDWARD C. STONE

ton taken recently by the Board of
Governors. While the commissions
we're revised upward in line with
higher charges now in effect on many
other stock exchanges all over the
country, the changes are not consii-
cred sufficient to make any difference
In the volume of trading
Commissions on bonds were not
changed at all. The charge for buying
and selling Government bonds re-
mains 1872 cents per 500 bond The
charge for all other bonds is IS cents
per 500 bond
Under the old schedule the same
charge was made for stocks selling
from SO share to $50 and from $50
to sl00. The price range spread has
now been changed so that there is 4
different charge between $40 and S25.
between s25 and $50. $50 and s75 and
SIS and slO0
Printed cards. giving the new COM
mission rates, have been mailed to all
members of the exchange and to other
interested parties who are holders o.
stocks and bonds listed on the board.
In an investment market such as the
washington exchange. the commission
charges are not held as important as
IN speculative market where traders
are constantly buying and selling the
same issues. with an attendant Jump
in trading costs.
When the New York exchange raised
ices there was vigorous protest. The
move here, however, has yet to cause
any objections.
Tribute Paid to DR.. Harlan.
Ord Preston, president of the Union
Trust Co, and his associates paid
tribute today to the memory of Walter
s. Harlan, vice president. who died
Saturday At the age of 81 years. Dr..
Harlan signed the articles of incor-
poration of the trust company on De-
cember 13. 1899, and had been closely
connected with the institution ever
since
He was elected vice president Of
the company in 1915 and at the time
OF his death was a member of the
Executive Committee and a direc ,or.
He watched the progress of the trust
company for nearly 40 years with in
tense interest and was an especially
close friend of the late Edward J..
Stellwagen, another founder of the
bank
One of Washinetons leading citi-
7enS for great many years, Dr.. Har-
ban was the personal dentist OF P-esi-
dent Theodore Roosevelt for a long
time. Although not an active banker.
he was an unusually able business
man. his advice being highly priced
by his associates Many fnanciers
will attend the funeral tomorrow at
his late home on Wyoming avenue.
Second Quarter Rise Seen.
From business standpoint the
trend of events at Washington is en-
couraging. says the United Business
Service in its current weekly report
The freight rate increase will help the
railroads. and some revision OF the tax
structure is practically certainty.
Seasonal improvement this spYin,
Will b. relatively l9ta and modest in
extent All the while, however. nee
y
OF wages, production, inventories and
debts. Because these ,hlnos are done
plecemeal and in silence b. thousands
of firms. they lack the spectacular
character of such statistics as steel
production. automobile outnut and
security prices. Yet they are of ut
most Importance N laying the founda-
ton for business Improvement.
While it is too early to look for
statistical evidence Of spring rise.
activity should show some moderate
upturn during the second quarter. the
review says.
30 Bank Recejvcr>hips Ended.
J. F. T. O'Connor, controller Of
the Currency. has announced the COM
rletion of the liquiaation Of 80 re-.
celverships during February. making
a total of 1909 finally closed or re-
stored to solvency since the banking
holiday OF March, 1885
Included in the February LIST was
the First National Bank. Victoria.
Va. which was placed il receivershlp
February Q. 1882. Depositors and
other creditors received, including off,
sets allowed. s301. $50, representing
o2.e5 per cent of total Liabilities estab-
)ished. Unsecured deposltors received
dividends segregating S7.5 per cent
of claims proved.
The Carolina National Bank. Spar
tanburg, S. c., was also in the Feb
ruary list. This bank was place in
1eceivership December 80. 1929. De-
posltors and other creditors received,
including offsets allowed, S709,163.
representing 1894 per cent of total
liabilities established. Unsecured de-
positors received dividends aggregat-
ing 549s per cent of claims proved.
Brokerage Offices Crowded.
There was a large attendance in
the board rooms of the local broker
age offices today for the opening of
the New York stock market. All ewes
were turned on the London market
for the key to what New York might
do, Street stocks opened particularly
well, the better steel outlook appar-
emily offsetting foreign uncertainties.
Directors Of Smiths Transfer g.
Storage Co. have declared the usual
2 per cent dividend due at this time,
Arthur Clarendon Smith reports.
The Pennsylvania Railroad opened
the new city ticket office today at
Fourteenth and G streets NV, Offices
of passenger and freight traffic de-
partments being included. T. D. Tuft
is city ticket agenti H. A. Karr. di-
vision passenger agent E. M. Mussel-
white and Alan B. Smith. general
passenger agent.
The re-organized American Co..
John Poole, president. starts out with
1851 shares of preferred stock. par
value 500, totallng S468 100. and 1881
shares of common stock, with no par
value, carried at ST per share, amount
ing to s4,68l, and total surplus of
S222,93560. The company is doing a
general real estate business and takes
tho v,1o~e Of tho old E,oIorol