Evening star., 1940-12-03

than $1,000,000 year in new
policies, and is a member of the
Million Dollar Round Table. He
spoke most Interestingly of his
production methods.
John D. Marsh, president of the
District Association, introduced
about so new members. The Men,
bership Committee is headed by
David S. Bethune of the Equitable
and William B. Rumple of the
Metropolitan. The luncheon started
at 11:45 to allow Mr. Taggart to
make plane connection for Boston.
Securities Dealers Meet.
District No. II, National Associa-
ton of Securities Dealers, held a
meeting here yesterday. under the
Craftsmanship of James Parker
Nolan. Many routine matters were
discussed. The district includes
Washington, Maryland, Virginia and
West Virginia and North Carolina.
The whole association will have
meeting here later in the week. One
of the big issues before the organiza-
ton right now is the way in which
new issues are being sold privately
These big private sales to insurance
companies are cutting very seriously
into the investment banking busi-
ness.
Many Washington investment
firms today were offering blocks OF
the S55,OOO,OO0 issue of National
Dairy Corp. 314 per cent debentures,
priced at 1O4a4 and accrued interest,
and the SIS 100000 serial debentures.
Real Estate Bonds Higher.
For the fifth successive month the
average price of bonds secured by
real estate has increased according
to the Amott-Baker realty bond
price average. The average price
for 81 900 bond is s3O1, an increase
of O.3 per cent in the 80 days. The
average is now only Al per cent
below the closing 1889 price of 1914.
The month was relatively quiet
with 100 or more than one-half OF
the 200 issues used in the average
remaining unchanged Several
washington issues are used in
making up the averages.
Apartment hotel and housekeep-
Ing apartment issues increased O.0
per cent and 0.6 per cent respectively,
but they are both approximately 2
per cent behind, so far in 1910.
Hotels dropped 13 per cent in the
month following rise of 4.40 per
cent in october.
d. c. Man Hotel Manager.
Harry R. Nash, who operates Pts
gah Forest Inn, Asheville, and Cliff
Dwellers Inn, Chimney Rock, N. c.,
has been named manager of the new
Copley Plaza Hotel at Miami Beach,
Fla.
A Washingtonian, born at Eight
eenth and F streets NV, in 1902,
Mr.. Nash attended school at st.
Johns College, Gonzaga College and
George Washington University and
entered the hotel business in 1921
at the Old Ebbitt at Fourteenth and
F streets, where he was, success
sively, might telephone operator,
night clerk and assistant auditor,
until the famous building was razed
in 1925. He was connected with
the Lee House, Annapolis, Franklin
Square and Grafton, until 1928,
when he entered the resort business
In Pinehurst, N. C..
Trading Heavy on Exchange.
Trading was unusually heavy or
the Washington Stock Exchange to-
day. Capital Traction IS sold at
1852 and LOG, Washington Gas
preferred came out at LOT and
American Security g. Trust stock
moved at 2371a. Mergenthaler regis
tered 261s and 27, and Garfinckel
common, 1918.
Much interest was shown by in
vestment dealers today in the
Securities and Exchange Commis-
sion's revision of its rules to provide
a blanket exemption from registra-
ton under the Securities Act Of
1888 for issues of 100000 or less.
Notice of plans will be required.
Sales of Wholesalers Climb.
The Census Bureau reports that
sales of wholesalers, based on re-
ports from 1880 firms in all parts
of the country, were 10 per cent
higher in October than in October,
1899. Except in September sales
have been higher in the past 81
months than in the same months