The Washington times., 1919-10-10
ELECT D. C. MAN TO
BANKING INSTITUTE

Edward J. lIcouade, treasurer OF
the Liberty Savings Bank OF wash
ington, today was elected q member
Of the executive council Of the Amer
lean Institute Of Banking. which Is
now holding its seventeenth annual
convention in New Orleans.
Although only actively engaged In
the banking business since the for
nation Of the Liberty. Savings Bank,
october s 1919. when he assumed the
treasurership Of that institution. sir.
McQuHde has manifested his earnest
interest IN the profession, and the
/ work yof the American Institute Of
Banking TO such an extent that he
was last year elected president Of the
local chapter Of the American Insti-
tute Of Banking Under his leader
ships the chapter prospered and built
up its educative activities to great
er extent than they had ever been
/ before.
Prior to his connection with the
institution Of which he is now an Of
ncer, Mr.. 1cQuade was instrumental
In the formation of the CltiEehBs Saw
| Ifngs Bank.
Victor B. Deyber, of the Second lSk =
tional Bank, who iB also IN Attendance
at the New Orleans convention, has
succeeded Mr.. Mcouade as president
Of the local chapter, and Is recsiving
the cooperation OF the former presi-
dent IN the development OF the edu-
catlve program OF the local chapter
for. the coming season.
Mr. McQuade, accompanied BY the
NJ 80 aN H.
attending the convention at New Or
leans will return TO this city next
Thursday.
The Government has received more
than S1,10T.OOO.OOO through sales Of
Thrift StampA War Savings Stamps
and Treasury Savings Certificates for
purchase by the public, according to
q statement issued today BY the Sec
retary Of the Treasury. Since the
signing Of the armistice, War Savings
Stamps began to be in greater de-
mRnd in August and September, and
reports thus far show a Btill more
substantial Increase for October.
while, naturally, with the termin-
alton Of the popular campaigns OF the
war period" said Secretary. Glass,
sales drOped sharply to decidely|
low level, the upward trend appear
ing 81 the dgures for August and
September indicate that the efforts Of
the savings oFganizatiou to combat
The present tendency to waste ana e1,-
traYagance which have come as q re-
action TO the wartime economies. are
beginning to have their effect.
The measure Of the Usefulness Of
the war savings organisation and the
thrift movement is not to be found
IN sales Of war savings certificates
alone. The war savings organization
Is charged with the8duty Of teaching
thrift and saving and investment. ih
and holding OF Government securities
Of all kinds" @
A special drive to locate merchants
and manufacturers who have followed
erroneous methods In making their.l
inventories for the taxable years
1917 and 1913 is about 70 be made
BY the Bureau OF Internal Revenue,
II was announced today
In some cases inventories have been
found to have been takeHeon the basis
-of average costs, though it was possi-
bic to Identify the articles remaining
on hand at the inventory period, and
so determine their exact cost. In 9TH
eFs, because Of conservative account
ing methods, nat percentages have
been deducted after determining in
ventOTy values.
All Of these methods are contrary
to the regulations Of the bureau, and
have e. tendency to reduce tax La
bility.
A warning has been issued by the
bureau to the effect that taxpayers
who have followed such methods to
file a corrected return without notice
or investigation. Some taxpayers
have voluntarily notified the bureau
OF incorrect returns, and are now
making amends by fling corrected re-
turns.
James J. Converse. Of New York.
formerly acting secretary OF the
United States Shipping Board, left
last week for an extended tour
throughout Poland and other parts Of
Europe to survey the opportunities
for the use OF American banking ia
cilities there and to lay the Hfounda-
tion for ship transatcoins between
American shipbuilders and foreign
purchasers.
Mr.. Converse will accompany Con-
stantine Radkiewejtz, one time gem
eral manager OF the Vistula Naviga- !
tiOn Company, who came to this J
country to buy boats for Poland.
Exchange ruled fairly active today. |
with sales on variety OF stocks be- |
ing affected. Lanston Monotype. !
which for the last two weeks has /
been on the upward trend. was quiet
today, although ten shares Graded |
ownership at 81, which is / point |
more than yesterdays sales. Mergen-
thaler was also quiet selling at a
below the high mark set pre-
viously in the week.
A feature OF the trading today was
the sale Of a block OF Columbia
common at so. WASH
ington Gas remained firm and Capital
Traction was slightly below yester-
days offers.
The sale. Of five Isanston yesterday
quoted at IS was an error. 1t should
have been five Lanston at so.
FAT SEA In BASKET i