Evening star., 1941-10-23

the first men employed by trustees
of the Associated Gas & Electric
System. in the bankruptcy proceed
ings, being assigned to the utility
service company in 1940 He became
administrative vice president. from
which Office he has just been pro-
noted His Office will be in Reading,
Pa, closer to the properties which
the organization serves.
Mergenthaler Leads Market.
Mergenthaler Linotype stock was
again in heavy demand on the
Washington Stock Exchange today.
The market opened with 100 shares
selling at 26 Z, unchanged from yes
terday's close. Fifty and 40 share
lots appeared on the board at the
same price.
Later in the session another 100
shares, 95 shares and a 50-share lot
also moved at 2612, making the days
turnover 435 shares. by far the best
days trading in this issue this year.
Security Storage stock appeared
on the board in 10-Share transfer
at II, compared with the last pre-
Vious sale at 73. Riggs National
Bank common came out, five shares
selling at 274l7, up IL points.
Washington Loan & Trust. Ma
tlonal Savings & Trust and Wash
ington Gas common are now being
quoted ex-d1vidend.
Pipeline Directors u. c. Men.
Directors of the Trans American
Pipeline Corp, which seeks to build
Q crude oil 1,o50-mile pipeline from
Texas to Savannah, Ga, according
10 information filed with the petro-
leum co-ordinator, Harold l.. Ickes,
are nearly all Washington men.
Aldace Freeman Walker. Nav
Flower Hotel, is the son of Harald
Walker, former Standard Oil Co. of
New Jersey counsel, and grandson
pf Aldace Freeman Walker, first
interstate commerce commissioner.
Emmett c. Dawson is general
secretary-treasurer of the Interna-
tlonaI Association of Machinists.
l.. Harold Sothoron, Maryland State
Senator and counsel for Mount YER
non Mortgage Corp; Robert T.
Hlghfeld, Mount Vernon MORTGAGE
Corp; Frank Lee, vice president.
City Bank, and Dion S. Birnev,
Washington lawyer. The president
is E. Stanley Glines of Baltimore
and New York, and another director
is V. G. Shinkle, Fort Worth, Tex.
Wage and Farm ~Curbs Urged.
Members of the Investment Bank
ers' Association were greatly pleased
with the address made here yester-
Gay before the Rotary Club by B. ].
ButtenWleser, partner in Kuhn. Loeb
& Co, who urged that control of
labor costs and agricultural prices
should go along with any limitatio
on business profits during the pres
ent emergency.
He warned that removing profit
from war should not reach the point
OF removing the profit incentive for
capital to function. He urged against
reckless spending by individuals, but
said this alone is not enough to
guard against imitation. A most of
other controls and sacrifices must
be applied
Robert V Fleming, president OF
Riggs National, introduced the
speaker, and Ernest Draper, member
of the Federal Reserve Board, was
among the guests.
Financial District Comment.
c. F. Burton, president of the
City Bank and chairman of the
Consumer Credit Committee of the
District Bankers Association, will
preside at meeting in the Cham
Der OF Commerce Building next
Monday evening for a discussion ot
Regulation W. DR.. Carl E. Parry
chief. division of security loans
Federal Reserve Board, and othel
board Representatives will be pres.
ent to answer questions.
Merrill Lynch, Pierce, Fenner &
Beane announced today that tn,
offering of 27,000 shares of pc,
cent preferred stock of Safewa,
Stores, Inc, has been oversub
scribed. The stock was Offered
yesterday.
Washington investment broker
are unable to obtain any NOR
American Telephone 8 per cent de
bentures for sale here. Placed ol
five exchanges, the $4,000 900 issf
was sold in two days.