Evening star., 1941-05-14
Bond Club 10 Hold
Outing on June 13
Al Manor Club
Heads Of Important
Il Committees Named
L By Gram
BY EDWARD C. STONE.

outing of the Bond Club of Wash
tngton, announced today that the
big annual event will take place at
the Manor Club on Friday, June 13.
Heads of all the important commit
tees were also announced, and Mr..
Gram stated that this years prizes
will be more elaborate than any
previously presented.
The committee heads are Baker
Robinson, nominating; William C.
Coe, tickets; Austin Rohrbaugh,
stock exchange; Robert Norman,
dinner: Marshall Exnicios, prizes;
John Hoffman, golf; Clifford How
ard, putting, and Munford Ellis,
horseShoeS.
] The mock stock exchange session
will again be one of the high lights
with the usual grand array of prizes.
The dinner will be another of the
many big features. Despite the
recent rise in commodities, it is
stated that the price of the dinner
will be reasonable. The announce
f1ent is brutally frank about the
exchange session, stating that only
those who have paid their dues can
buy tickets for the trading ac-
tivities.
! The Acacia cup will again figure
IN the afternoon golf competition,
along with several other desirable
prizes. Chairman Gram said today
that all events will be bigger and
better than ever.
The present officers of the Bond
Club are Frank M. Hall of Hall,
Peters & Bryson, president; J. Cliff
ford Folger of Folger. Nolan & Co.,
vice president, and Myles H. Quail
of Y. E. Booker & Co., secretary
treasurer.
Mr.. Folger is slated to be ad-
vanced to the presidency at the an
nual election.
, Two New Exchange Listings.
Two new bond listings were an
nounced at today's session of the
Washington Stock Exchange, first
to be added to the board in long
time. They are the Anacostia &
Potomac River Railroad modified
334s and the City & Suburban Rail-
way modified 3s4s.
It will be recalled that both these
issues were originally per cent
bonds. Difference of opinion over
payment of principal caused court
action which resulted in a COM
promise offer by the Capital Transit
and Washington Railway & Electric
Cos. which was accepted by a great
majority of the holders.
The bonds now pay 334 per cent,
are assumed by the Capital Transit
Co. under the plan which reduced
the interest rate and extended the
maturity to December l, 1851, and
guaranteed by the Washington Rail-
way & Electric Co. as to payment OF
principal and interest.
The old bonds also remain on the
Washington Exchange as these are
still held by owners who did not
agree to the modification plan.
. Accountants Plan Conference.
The District of Columbia Institute
of Certified Accountants expects
that a large delegation from the
membership will attend the Middle
States Accounting Conference in
Baltimore on June S, 6 and 7. ac-
cording to Henry S. Owens, presi-
dent
Mr.. Owens presides at one of the
conference luncheons and Wayne
Kendrick appears on the program
for discussion of case Studies
In Auditing Procedure"
OF special interest to local ac-
countants and businessmen is an
address by DR.. Edward Stone, chief
of the real property control section,
Resettlement Division of the Farm
Security Administration. on "The
Changing Aspects of Our Economy" F."
Banking School of $50 Seen.
DR.. Harold Stonier, director of
the graduate school of banking at
Rutgers University and executive
manager of the American Bankers
Association, said today that there
will be 242 students in the entering
class and $50 In the entire student
body.
A new course entitled Banking
and Government" will be added this
year under direction of Paul F.
Cadman, A. B. A. economist, and
A. L. NJ Virgins, chairman of the
A. B. A. Committee on Federal
Legislation.
Special evening speakers will in
clude Mark Sullivan, Washington
columnist; U. v. Wilcox, Washing
ton correspondent for the American
Banker, and DR.. Edmund j. Walsh
of Georgetown University. j. Har-
vey Wilkinson, Richmond banker,
will again be on the faculty.
Bond Sales Reach S159,O0O, 900.
In giving out the first figures
Secretary Morgenthau said that
sales Of defense savings bonds and
stamps through last Saturday had
reached $159,0O0,000 since May 1.
He considered this a good showing.
Sales of baby bonds ran about
S90,000,000 a month, he commented.
On this basis and the sales report
ed the Secretary said that anything
over s300,000,0O0 for May would be
considered good.
The bonds which have sold best
thus far, he said, have been in $50
and $25 denominations.
A steady demand in Washington
Is reported, although no figures are
yet available.
Financial District Comment.
Holders of Atlantic Coast Line
Railroad stock were impressed by
the first quarter results, which
showed net earnings of $4.07a share,
against 80 cents share on common
in the like 1910 period.
Adoption of common forms of
domestic bills of lading to cover
both rail and common motor carrier
shipments is being sought by the
National Industrial Traffic League,
Nation wide shippers organization,
with headquarters in Washington.
Maryland National Capital Park
and Planning Commission will re-
ceive bids until June 4 at pm.
(E. S. I'd for 100000 bonds at not
exceeding 4 per cent, dated May l