Evening star., 1943-08-13
Mcclure Assistant Treasurer

William M. Mcclure, at present
manager of the Southwest Branch
of the McLachlen Banking Corp,
has been elected assistant treasurer
of the organization, L. P. Nc
Lachlen, president, announced to-
day.
Mcclure is native of Washing
ton, was educated in the public
schools, graduated from the Ameri-
can Institute of Banking and has
served on many of the committees
in Washington chapter.
He is now serving as vice chair
man of the Safe Deposit Section of
the District Bankers Association
Starting as runner in 1921, Mr..
Mcclure advanced steadily and was
made manager of the McLachlen
branch office in 1886.
Market Views Vary Widely.
In view of the recent New York
Stock Exchange declines, this weeks
views on the market are of special
interest. They differ widely.
One service advises accumulation
of selected stocks. another remains
bullish on the underlying trend but
looks for more irregularity for the
near term, while a third suggests
deliberate accumulation" of select
ed stocks.
Another market writer says the
possibility of increased dividends on
seasoned issues appears remote for
the duration and does not think
new buying Of high-grade stocks
Is likely to be aggressive.
Most OF the commentators insist
that the long-term trend is still up
ward.
Dealers Oppose SEC Ruling.
The Executive Committee of the
National Association Of Securities
Dealers has voted to appeal to the
courts decisions of the Securities
and Exchange Commission granting
the New York Curb Exchange un-
listed trading privileges for two
public utility bond issues.
So far as is known, the contem-
plated appeal to the United States
Circuit Court of Appeals is the first
such court test to be made of such
decisions. The issues which are the
basis for the action are Central
Power e. Light 3as, 1869, and Ken
tucky Utility As
The action of the Executive Com
mittee is in line with the policy of
the Board of Governors under
which all applications of exchanges
to extend unlisted trading privi-
ieges to over-the-counter issues are
to be opposed, according to word re-
ceived here.
Mergenthaler Dividend Voted.
Directors of the Mergenthaler Co.
have declared a dividend of $50 a
share payable September II to stock
holders of record August %, it was
announced today. This same
amount was paid on September Is a
year ago, The company has already
paid 50 in dividends this year.
Miles Heads Loan Drive.
Hooper S. Miles, chairman OF the
Executive Committee OF the Balti-
more National Bank, and State
treasurer Of Maryland, has been ap-
pointed chairman of Maryland's
Third War Loan Campaign which
begins September 8, Secretary Nor
genthou announced today. MIR.
Miles will divide the State into six
regions for the drive.
Riggs Common Stays at 300.
Ten shares of Riggs National
Bank common stock sold at 800
again today following the l00-share
transfer earlier this week. The
closing bid was 300 with none ten
dered at any price.
Woodward & Lothrop common
was neglected, carrying a bid of 1871,
with 80 asked. Potomac Electric
Power preferred stocks and Wash
ington Railway & Electric preferred
and common are now being quoted
ex-dividend, along with Norfolk g.
Washington Steamboat stock.
The Ration Banking Committee
Of the American Bankers Associa-
ton and OPA officials are making
steady progress on the new schedule
for reimbersing banks for operating
the service. The cost has proved
much heavier than at first esti-
mated.