The Washington times., 1920-08-05
A. B. A. CONVENTION
WILL USE THEATER
After Much Pressure New York
Financiers Secure Loew's
Permission.
By WILLIAM VI. CONRAD.

Loew's Palace Theater, located at
Thirteenth and Il streets, and regarded
as one of the handsomest in the coun-
try is to be the scene OF the general
meetings OF the convention OF the
American Bankers Association from
october rs to 2l, according to adyices
received here today from New York.
Shortly after noon today this word
was confirmed by Robert N. Harper,
president OF the District National
Bank, and chairman OF the organiza-
tion arranging for the coming con
vention. He expressed special gratift-
cato that such u splendid meeting
place had been secured.
After loking over the city recently
with Mr.. Harper in the effort to To-
cate a suitable place for the general
American Bankers Association, de
cided that the Palace Theater was the
ideal place, but efforts to secure the
use of il, proved unavailing.
However, within the past few days,
prominent New York banker with
whom Mr.. Harper took up the matter,
managed to prevail upon the movie
magnate to give over the house for
the three days OF the convention.
Sterling exchange in New York to-
day was S3.6l, a rise of 5H cents over
The Federal Reserve banks will
give all reasonable aid TO Gamers in
various parts OF the country, accord
ing to bulletin sent out today by
the National Gamers Association, IL
being pointed out that the Federal
system is fully alive 70 the essential
character OF the canning industry
and the importance OF financing its
activities during the production sea-
son. J. Harry Covington, counsel of
the association, had the matter up
with Governor Harding, OF the Fed
eIal Reserve board.
+. w. STEVENS GOING TO CHINA.
OF deep interest to Washington
bankers and business men is the an
nouncement made today that Fred
erick w. Stevens, now residing at
Ann .Arbor, Mich, has accepted ap-
pointment as resident representative
at Peking OF the American group in
the Consortium for China.
Mr.. Stevens who has many friends
here. was formerly a member of the
staff of j. =. Morgan q Co. and
travelled extensively in the Orient.
Amount of Liberty bonds and
Victory notes outstanding on July
81 last indicates the smallest reduc-
tion of any month since the Govern
mcnt began buying bonds under bond
purchase fund and a sinking fund.
Reduction in Liberty bonds amounted
to S2,395, 800 as compared with S43,-
239275 in June. Reduction in Victory
notes in July totaled S5.26I.23o as
against S17.3SO, 400 in June. Total re-
duction for July was SI,663,O3o
against s66.G19.765 in June.
The directors of the American To-
bacco Company have declared a divi-
dend on both classes of common stock
of 3 per cent, payable in scrip, bear
ing per cent interest and con-
vertible into Glass Il common stock,
March /, 1923. The dividend is pay
able on September l to stockholders
of record August IA.
1t was also announced that spe-
cial meeting of stockholders will be
called for the purpose of authorizing
ar increase in the Glass Il common
stock from S5O,0O0,O00 to 100000 900.
If the increase is ratified, il was said
t is not the intention of the company
to sell any of the additional stock.
Maurice ID. Rosenberg, president oI
the Commerce and Savings Bank, and