Evening star., 1943-07-01
Investment Firms Merge

Investment Firms Merge.
Consolidation of Y. E. Booker &
Co., Washington investment firm,
with Alexander Brown g. Sons, one
of the oldest investment houses in
the country, went into effect today.
Y. E. Booker has become general
partner in the Alexander Brown
firm and will have charge Of the
Washington Office. The personnel
from the Alexander Brown Office
moved into the Booker office in the
American Security Building, all em-
ployes of both Offices being retained.
Harry w. Finney will manage the
Office and Myles H. Quail will rep
resent the consolidated firm on the
Washington Stock Exchange.
Bank Declares Two Dividends.
Directors of the Citizens Bank of
Takoma Park have declared the
semiannual dividend of 212 per cent
on the common stock and semi
annual payment of q. per cent on
the preferred stock, checks to be
mailed shortly, President l.. V.
Lampson announced today.
The Citizens Building, Inc, an
affiliate, has authorized semi
annual dividend of 2l2 per cent an
the preferred stock, Mr.. Lampson
added.
Bond Interest Being Paid.
One years interest on District OF
Columbia Paper Mills, Inc, out
standing 3 per cent first mortgage
bonds of 1916 was being paid today,
following the recent interest decla-
ration by the directors.
These bonds have been in default
since, July, 1888. Coupon No. 5, due
July l. 1888, and Coupon No 6, due
January l, 1889. are being presented
at the Riggs National Bank for pay
ment. There are s549, 900 of these
bonds held by the public.
Two Vice Presidents Named.
L. H. La Motto, manager of the
Washington office of international
Business Machines Corp. has been
elected to a newly created office of
vice president, and Roy Stephens,
executive assistant, has been given
q similar Office. Garland B. Briggs.
previously manager of the Norfolk
ofice, was elected assistant treas
urer.
Mr.. La Motto joined the organiza-
ton in Newark in 1922 He became
sales manager of the New York Of
fee and in 1888 was made general
sales manager. Recently he has
been in full charge of all the COM
panys business with the Govern
ment.
Convention Dates Changed.
Washington members of the
Financial Advertisers Association
were notified today that the fall
meeting in Chicago will take place
on October 10, 20 and 81. The dates
have been changed from September
because of the conflict with the
Third War Loan drive.
The annual report of John A.
Reilly, retiring president of the Dis
trict Bankers Association, has been
printed in the Congressional Rec
ord at the request Of Senator Bridges
of New Hampshire. The report COW
cred many banking matters of ma
tional concern.
John E. Slater has resumed his
position as executive vice president
of American Export Airlines. Inc,
after completing a special Govern
ment assignment.
Mergenthaler at New High.
Nergenthaler Linotype sold at 46
on the Washington Stock Exchange
today, highest price reached in sew
eral weeks.
More than dozen leading issues
on the exchange paid midyear divi-
dends today.
The bid for Washington Railway
6 Electric common stood at $40 a
share with none offered at any price
Farm Loan Bill Signed.
President Roosevelt has signed
the bill extending to July l, 1945, the
period during which the Federal
Land Bank commissioner may make
loans on behalf of the Federal Farm
Mortgage Corp. These loans have
been made primarily to finance
permanent improvements and for
repurchasing farms which the
owners had lost through fore
closures.