Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-07-13

w. eu.Nie .o III IN s& -
November j. {. Foiser.
Others on the ticket announced
today include Albert T. Armitage
Boston: Albert H. Gordon, New York
Edward Hopkinson, jr., Philadel-
phia: Victor E. Breeder, San Fran
cisco. and Julien H. Collins. Chicago
all as vice presidents. The first
three are already serving as vice
presidents.
Washington members of the ma
tional association are elated over
the choice of Mr. Folger to head next
years ticket He has already served
the association on the Federal Legis-
lation Committee. of which he is now
chairman; Education. Public III
formation and Securities Act Com
mittees.
In the investment business in the
Capital since 1929 and president OF
his own organizat ton since 1881 Mr.
Folger is also director of the
Chesapeake d. Potomac Telephone
Co., Appalachian Mills of Knox
Vile board chairman of the Pied
mont Mortgage Co., treasurer and di-
rector, Mayflower Hotel Corp, and
president, Cumberland Trust Co. OF
Knoxville.
Active in War Financing.
Taking an active part in wal
financing, Mr.. Folger has served as
vice chairman of the District War
Savings Bond Committee, co-chair-
man, Washington Victory Fund Com
mittee, and member of the Execu-
tive Committee of the Fifth Federal
Reserve Districts Victory Fund
Committee.
In 1910 he served as chairman of
the Community Chest. and at pre-
sent is a member of the Executive
Committee of the Community War
Fund. Since 1912 he has been chair
man of Red Gross of the District
also member of the Ways and
Means Committee of Washington
Cathedral and the Executive Com
mittee of Garfield Hospital.
Born in Sheldon. Iowa. At years
ago. Mr.. Folger lived for many years
in Washington State and graduated
from the State College there in
1917.
Riggs Bank Dividends Voted.
Directors of the Riggs National
Bank have declared the usual divi-
dend on the preferred stock, payable
August to stockholders of record
July IL. President Robert V. Fleming
announced today.
Mr.. Fleming also announced that
dividends on the common stock of
the bank had been declared payable,
$3.50 per share on July IS to stock
holders of record July IL and $3.50
per share on October Is to stock
holders of record September 30,
High Bond Prices Explained.
Eight factors intended to explain
the present high prices of municipal
bonds are presented by Halsey,
Stuart g. Co., as follows:
Scarcity OF new offerings. Federal
control of interest rates. diminishing
proba bility that the existing tax i'm
munity of municipal bonds will be
removed. increasing value of tax i'm
munity because of increasing Federal
tax rates, better tax collections by
municipalities, debt reduction by
municipalities, more economy in
municipal operations and the quest
Of many investors for security.
Traders Flock to Boardrooms.
New York Stock Exchange Offices
we're crowded again today, following
yesterdays sales of more than a
million shares and the establishing
of 81 new 1943 high marks Market
followers witnessed an active OPEN
ing, with stocks about where they
left off yesterday.
During the noon hour every day
Washington boardrooms are so
crowded that standing room is at a
premium. Brokers say they have not
known so much interest in the New
York market in long time Hosts
of Government workers are shorten
ing their lunch periods in order to
get look at the tape and the board
quotations.
Today's Trading on Exchange.
Eighty shares of Mergenthalel
Linotype sold at 4912 on the Wash
ington Stock Exchange today, the
new 1943 high mark reached yes
terday.
Woodward 81 Lothrop preferred
appeared on the board today. II
shares moving at l2l, off a point
from the last sale.
Capital Transit. remained strong
selling at 3112, closing with 81 bic
and 80 asked
The exchange reported today thai
IS shares, instead of 70. of Wash
ington Gas common were sold yes
terday at the new high of o.
J. c. Penney Co. sales in JUNE
were reported today as 6.5 per cent
ahead of June, 1912, and up 81
per cent in the half-year.