Evening star., 1939-11-14

secretary. j. G. Edward {. Baltz.
Roy, assistant treasurer. and Will
liam H. Rippard, auditor The va
cancy caused by the recent death Of
Raymond K. Espey was filled by the
advancement of William H. Dyer.
The shareholders re-appointed all
directors as follows: John C.
Scoheld, Samuel Scrivener, DR.. Will
liam G. Schafirt, Thornton w.
Owen, and Messrs. Bishop, Gusts
and Baltz. The appraisers again in
clude Vernon G. Owen, chairman:
MI, Harper, Mr.. Scrivener and
Thornton Owen.
Edward c. Baltz, the secretary
reported that during the year re-
sources reached the highest point on
record, the association still being
the largest of the kind in the
United States. Advances to borrow
ing members totaled Sl6,OOOO 900, and
surplus and reserves advanced to
figure in excess of s3,342oOO.
Started in 1881. the Perpetual
made steady progress and in 1925
assets crossed the S10O0O,O0O point
Ten years later resources went over
the S40000000 mark and were re-
ported yesterday by Secretary Baltz
at s5O,0OO0OO.
Baltz Honored by Ad Club.
Members of the Advertising Club
of Washington celebrated the BIRTH
day of Edward c. Baltz, secretary
of the Perpetual Building Associa-
ton, yesterday with luncheon in
the club rooms at the Raleigh Hotel
Alvin @. Erich, president of the
advertisers, lauded the accomplish
ments OF Mr. Baltz, dwelling partlc-
ularly on his success as a build
ing and loan authority not only in
this section but in the country at
large Charles J. Columbus. club
secretary, presided at the sllclng of
the birthday cake and the placing
OF the candles.
S350OO0,0OO in Yule Funds.
That S35O.OOO,0OO will be distrib-
uted to more than 100000 Christ
mas club members is the estimate
announced from New York today
by Herbert F. Rawll, founder of the
Christmas savings club idea. He
says that per cent more money
will be distributed this year than
last, the average member to get
S48.80, against SAT a year ago.
Among 63 institutions. which he
says will distribute about $50 10000
of the total amount are three Wash
ington banks, American Security &
Trust Co., to pay out approximately
s595,O0O; Riggs National, s56O,0oO,
and Washington Loan & Trust Co.,
S445 1000.
The Bank of America, San Fran
cisco, reported sl4,OO0,O0O in Christ
mas club funds. this. OF course, in
Guiding the branches. The figure
for Maryland is placed at S7,400 900
and Virginia S9,100000. AS already
announced by the District Bankers
Association, Washington banks will
distribute around S5,000000.
1910 Expected to Top 1889.
In a letter to the Washington AS
Secretary Henry H. Heiman says
that, assuming the absence of an
early peace. 1910 should prove a
better year than 1889 for two rea
sons: There is abundant credit to
finance all real credit needs and a
strong demand for goods is present
because consumer needs were never
fully satisfied during depression
years.
He tempers his views. however, by
adding that business planning must
take into consideration the possibil-
ity of a short war and the fact that
when the war does end there will be
an endless number of maladjust-
ments to be smoothed out.
He predicts satisfactory Christmas
trade and the usual seasonal decline
after the holidays.
Capital Transit Advances.
Capital Traction stock moved from
1872 to IA on the Washington Stock
Exchange today, the highest price ir
several weeks. The stock recorded
10 and 20 share transfers.
Lanston Monotype appeared or
the board today on 10-share trans.
action at "a. The real volume oil
trading was in Capital Traction s.
in the bond division. The market
for the bonds was strong, with q
$4,000 transfer at 9534 and $4,000
sale at &C.
Demand for farm products will be
considerably stronger in 1910 as E
whole than in 1889, largely because
of prospective increases in domestic
business activity and consumer in
comes" the Bureau of Agriculture
Economics forecasts. Increased ex'
port demand for few farm products
is predicted.
Banks in Miami, Fla are to oper
at $50 and close at o'clock in al
effort to shorten hours. the Clearing
House Association announces.
Financial District Notes.
The Interstate Commerce Com
mission Bureau of Statistics report
that at the middle of October tn
class l railways had 1,055.164 EN-
ployes. the largest number since No
vember. 1887. The employment to
Jdl llllS OClOUSl Represents All III
crease of 807 per cent over October
1898, and gain of 354 per cent owe
September this year.
The Federal Reserve Board re
ports further increase in CONNER
cial. industrial and agricultural loan
in the 5th district, which include
Washington and nearby State!
Banks in this territory increase
such loans by about $l,000,000 las
week
The Interstate Commerce Com
mission has authorized the Louisvill
e. Nashville Railroad to issue an
sell S2,025.OO0 of q. per cent seris
equipment trust certificates. Tn
issue will be sold at 1O4.2987 an
accrued dividends to aid in financ
ing the purchase of new coal cars.
The 18th annual midwinter con
ference of the American Saving
and Loan Institute will be held i