Evening star., 1942-10-05
Bell, Grew and Land
10 Address Bankers
On War Finance
Investment Dealers
Plan Short Annual
Session in Gothum
By EDWARD c. STONE.

Undersecretary Of the Treasury
Daniel w. Bell former Ambassador
to Japan Joseph c. Grew and Rear
Admiral E. S. Land, chairman of the
Maritime Commission, are among
the speakers who will address the
Investment Bankers War Finance
Conference, which opens in New
York two weeks from today.
The usual five-day convention
has been crowded into two days. The
presidents OF Federal Reserve Banks
and executive managers of several
Victory Fund Committees will also
appear on the program. John S.
Fleek, I. B. A. president, will pre-
side. Aside from the war finance
discussions, many important associa-
ton reports will be presented, 1t
was announced here today, several
Washington members planning to
attend the sessions.
Members outside New York have
been asked to combine the confer.
ence with their usual business trips
In order not to require extra trans.
portation facilities. Election of off,
GERS is set for the second day, Jay N.
Whipple being slated as incoming
president.
Exchange More Active.
Trading on the Washington Stock
Exchange opened the week with
five 10-share sales in Washington
Gas Light IS preferred stock al
991a, of from recent transfers at 10l
Capital Traction SIS appeared on
the board at 1851, against the last
previous sale at LOG.
Five shares of Washington Loan
& Trust Co. stock appeared In the
sales at 200, unchanged.
Twenty shares of MergenthaleY
Linotype came out today at 36a,
practically unchanged.
The final sale was in Capital
Transit, the stock moving at 241.,
of fractionally from last week.
Washington Gas Net Lower.
The consolidated report of the
Washington Gas Light Co. for the IL
months ended August 81 shows total
operating revenues of $11901. 1893,
against s10,79O,689 in the preceding
II months, an increase of $1,11O,7O
Net income, after charges and
Federal income and excess profits
taxes, amounted to 81 ,040,184, COM
pared with s1,333,874 in the like
period a year ago, a decrease OF
$293 $50.
The drop in net is due to higher
expenses, the increase in taxes being
the most important factor.
Boardroom Attendance Up.
There was marked increase N
attendance in the New York Stock
Exchange offices here today, fol-
lowing Saturdays appointment OF
an economic dictator" to control
prices and check imitation.
Many traders felt that the stock
market might sell of on the action
taken to check imitation. The OPEN
ing was quiet and firm. Brokers
ascribed the steadiness to many
factors, including the curbing OF
further advances in wages which
Will be Of immense Importance to
the big corporations.
The recent increase in the volume
OF trading on the exchange has
caused a noticeable rise in cheerful.
ness IN the offices here.
Wilfred H. Blanz, president Of
the District Building and Loan
League, is recovering from an an.
pendicitis operation and is now al
his home on Warren street NV
Vice President Clarence E. Kefauve,
IS looking after league affairs.
Donald w. Larson, secretary Of
the District Bankers Association.
now on leave for Army, is still at
Camp Lee, Va.
About 200 bank officers and direc.
tors are expected at the annual fall
meeting of the District Bankers
Association, at the Columbia Coun-
try Club Monday evening, when
Hugh Leach and Paul S. Cadman
will be the chief speakers.
A furnace weighing 1,5O0 pounds
IN the National Bank of Fredericks-
burg, Va, has been sent to the
scrap heap for war use. It had been
IN the building 122 years, but had
not been used for so years.