Evening star., 1940-03-13


Life Insurance Co. at Cleveland.
He is well known as an insurance
man and is prominent in civic affairs
in his city. He will speak briefly
on the Aims and Activities of the
Chartered Life Underwater Move
ment."
New Travel Records Forecast.
A contra-seasonal upward trend
in the volume of touring and travel
information given, as we'll as in
the number of membership applica-
tions, is reported by the Keystone
Automobile Club for the first two
months of the current year.
The club management attributes
this showing to generally improved
business conditions and to the con-
centration of travel in this hemis-
phere, and states that the outlook
is for continuation of this trend,
barring any sudden and drastic
changes in the national and inter-
national situations.
That the present year should set
a new record for the travel industry
is the opinion expressed by the clubs
officials.
New Legislation Opposed.
The period of new legislation in
respect to the securities markets
ought to be ended for the present,
David Saperstein, former director of
the trading and exchange division
of the Securities and Exchange Com
mission, said in New York address
on "The New World of Finance"
It is now time, Mr. Saperstein said,
for the S. E. c. to consolidate its
gains and to devote itself single
mindedly to the task of enforcement.
The saturation point for laws and
rules applicable to the sale OF secu-
rites has now been reached. That
observation is made out of a pro-
found conviction that sound admin
istrative policy requires that the
markets be regulated but not over
regulated" he said.
Huge Sums Paid in Dividends.
Stocks listed on the New York
Stock Exchange yielded cash divi-
dends amounting to $2,154,940.257
during 1899, enough money to pro-
vide approximately $50 for every in
dividual in the United States more
than 81 years of age, according to
the March issues of The Exchange,
published today.
Making up the dividend total are
274 out of a total of 408 preferred
issues listed on the exchange, which
paid 1922 ,261, ,370 in dividends in
1885, and 504 out of a total of 1875
common stocks which paid $780,
678,887.
In 1899 dividend payments on
common stocks increased $276,827,-
402, or 178 per cent above their 1888
total of $1,555 ,851, ,485.
Heard in Financial District.
Corcoran Thorn, president of the
American Security & Trust Co., has
returned from trip to Mexico.
Clarence A. Aspinwall, president of
the Security Storage Co., took the
same tour.
Ord Preston, president of the
Union Trust Co. and the District
Bankers Association, will leave the
Capital Friday for visit of two or
three weeks in Florida.
Arrangements have been COM
pleted for the annual joint meeting
of the Fiduciaries and Auditors Sec
tions of the District Bankers Asso-
ciation, tomorrow evening, at the
Lee House, when 10 v. Morgan, sole
member of the District of Columbia
Board Of Tax Appeals, will speak
on District of Columbia Income
and Inheritance Taxes" A record
attendance is anticipated.
All employees of the American Ice
Co. in Washington received the
annual report which showed net
profits of $84,434,39, as compared
with net loss of SITS, ,60712 in 1888
For the first time, the company has
no long-term debt, President Charles
G.. Small points out.
Today's Trading on Exchange.
One hundred shares of Capita
Transit stock changed ownership OF
the Washington exchange at Is. Th'
market closed with is bid and ISL
asked.
Directors of the Carpet Corp. hav'
declared the regular quarterly divi
dend of so cents per share, payabl
March 80 to stockholders Of recor
March 10.