Evening star. [volume] (Washington, D.C.) 1854-1972, 1938-03-08
CAUTION URGED
IN INVESTMENTS
'ToWson Urges Great Care
and Expert Advice Before
Taking Action.
BY EDWARD C. STONE.

BY EDWARD e. STONE. .
Addressing general convocation al
the Wilson Teachers College yester.
day afternoon, Norman E. -Towson
assistant treasurer Of the Washington
Loan & Trust Co., urged great care
and the consulting of financial experts
in connection with the investing Of
money.
Investing money is not even half the
problem, he said. Getting back the
money you have invested is by far
more difficult. To save out Of income
constitutes sacrifice of current en-
joyment of something which might
have been purchased, in order to build
up safeguards against the sings and
arrows which the future may have in
store.
Careful distinction should be made
between investing. specializing and
gambling. he said People invest money
when they buy property or lend to a
responsible borrower. In speculation
less stress is placed on safety, chance
gains being a greater object, while
gambling is the risk of money. the
outcome of which cannot be foretold
by information or calculation.
Too many people use their imagina-
tions when they invest or speculate, in
stead of their reasoning powers and
their judgment, and too many invest
ment programs seem to be based on
sentiment and emotion. Instead OF
using great care in obtaining advice,
many people ask none at all. If they
Go seek guidance. it is usually with
the idea of buying something Ito put
away and forget about"
There is absolutely nothing one can
buy, put away and forget about. Mr..
Towson asserted. Whether you put
all your eggs in one basket or employ
Investigation, you must keep your
eye necessarily en- the basket" he said.
And in this day of speculation, why
not consult person who may be eX-
pected to know something about
finance when a financial transaction
is involved? Personal tastes and the
suggestions of friends do not always
produce the best results. he concluded.
Lively DEMAND IOF DOnuS.
Oversubscription of the new $780,
900 Terminal Refrigerating g. Ware
housing Corp. l0-year first mortgage
"A per cent bonds gave clear picture
of the demand for sound investments
by Washington banks, other institu-
tons and individuals.
To investors here it was pleasing
that the Terminal Corp. offered the
bonds in Washington. The action
followed the sale not so long ago
of fair-sized bond issue by the Po-
tomac Electric Power CO. and another
by the Washington Gas Light Co.
to big New York insurance companies.
rs well as large mortgage issue sold
by woodward &, Lothrop in connec-
ton with the construction of a new
warehouse.
The Terminal company has an in
teresting record. The firm has out
standing 100000 capital stock
10000 shares of $50 par value-on
which it is currently paying 6 per
cent, which rate it has paid since
1928 with extra dividends of l per
cent in 1880 and 1881 The company
and its predecessors have an unbroken
dividend record since 1876.
Endicott Explains Tax Law.
Ralph Endicott, assistant treasurer
of the Washington Loan g. Trust Co.,
appearing as member of the speak,
ers' unit of the District of Columbia
Bankers Association, addressed the
Civitan Club today on THE Effect
of the District Of Columbia Revenue
Act Of 1887" Mr. Endicott covered
many provisions of the act and ex-
planned the regulations governing its
administration.
The speakers unit of the bankers
association was organized this year
end, according to Thomas j. Groom.
president of the association, was for
the purpose of acquainting Washing
ton citizens with some of the phases
of banking and the laws and regula-
tons under which banks operate.
Frederick P. H. Siddons. secretary
of the American Security & Trust
Co. and a former president of the
association, is chairman of the unit.
Bank Plans Business Drive.
At dinner held at the Ambassador
Hotel last evening, attended by the
directors, officers and employees Of the
Security Savings & Commercial Bank,
plans were formulated for new bust
ness campaign among the directors
and personnel of the bank, for the
month preceding the silver anniversary
on April Z.
Three teams have been formed, the
directors team, headed by Benjamin
Ourisman as captain and Samuel S.
Bnck as lieutenant the officers team,
headed by Fred Mckee, vice president,
as captain. and ]. o. lehman, as
sistant cashier, as lieutenant, and the
employees team, headed by Frederick
e. Daum as captain with lieutenants
Eleanor L. Dankmeyer and James E.
Lunsford. The contest is for new
savings accounts, checking accounts
and safe deposit boxes.
T. Hunton Leith, cashier, presided
at the dinner and outlined plans for
the campaign. Speeches were made by
officers and directors, including Col.
Julius l. Peyser, chairman of the
board; Francis G. Addison. jr., presi-
dent, and Fred Mckee, vice president.
Air Traffic Up Ia Per Cent.
Passenger traffic on the routes of
American Airlines, Inc, hit an all
time February record, carrying 1884
revenue passengers, as compared with
1929 In February of 1887, an in
crease over the 1880 passengers car
ried in January. 1888. according to
c. r. Smith, president of the COM
pany.
Routes through Washington for the
third consecutive month showed the
largest increase during February, as
compared with the same month Of
1887, with Washington Chicago traf-
nc up 144.9 per cent and the SOUTH
ern transcontinental route increasing
1919 per cent.
t. H~I