Evening star., 1920-06-13
[nve.tor.. Dollar Ha. Crown >
The Loss to the Man Of Means.

The man Of means has been sadly
used during the last few years. Public
utility shares were once a favorite form
Of investment. for the reason that their
business capacity and their earning
power could always be seen. but 1t has
markings UP Of wages and Of every item
entering into consideration in the mat
ter Of operating cost and equipment cost,
Public utilities have cut dividends and
passed dividends in a most discouraging
manner. The man who has had faith in
the old adage that the market will
como back has held on, frequently too
long. to and 1t necessary to take his
loss. The big railroads Of the country
have been unable to make the gain In
gross necessary to absorb the fast grow
ing increases in operating expenses.
The loss on non-dividend payers has
been very serious matter.
The FINAL Straw.
The big advance in interest rates and
the big yield on bond issues Of recent
fiotation. the real value of money, has
been the last straw on the back Of the
time investor with the H. C. L., for
he has had no way. unless in business of
meeting and greeting the advancing
trend. His small satisfaction Is that he
doesn't have to pay q big income tax,
and that is small. indeed. for the in
come tax is an insignia Of comfort.
A Wise Suggestion.
That was q wise suggestion that
Howard Moran made at the recent
convention Of the District Bankers
Association, when he advocated the
ilshment of credits. He upheld the
lishment Of chedits. He upheld the
formal statement Of conditions by the
applicant, but thought that the in
come tax receipt. sworn to and under
federal investigation and authority.
would be worth while considering.
In the matter of interest paid. which
would certainly be taken to the full
est, the bankers might readily dissect
total borrowings, one of the most i'm
portant items Of information desired
Gross and net incomes. losses or gains
by speculation and the entire charac-
ter of the business engaged in would
be q matter Of plain knowledge to the
banker.
A Wonderful Address.
Fred N. Sheppard. field manager of
the American Chamber Of Commerce,
made wonderful address at the con-
vention. He told of the co-ordinated
efforts Of the chamber for the inter-
ests of American business and man
hood. told how earnestly and care
fully policies were agreed upon, and
how. when q course had been marked
out. the plan was submitted to the
brightest minds in the country with
ample time for review.
How the leading minds OF the coun-
try freely gave of their time to attend
conferences to gnally and definitely
settle upon q policy which would then
be advocated by the entire strength
Of the great organization. Speaking
Off hand. Mr.. Sheppard brought home
to the bankers the need Of cooper
at tn he. -
operation that would work for the
good of all and to the injury of none.
Every one in attendnce on the con
vention felt that the business in
terests of the country were much
safer for the existence of the Amer
lean Chamber of Commerce.
Banks Tenth Anniversary.
Last week the Anacostia Bank cele-
brated its tenth, anniversary with the
| record for that decade Of which II
! may well be proud. 1t was organized
May 10, 1910. under a. West Virginia
| charter, and opened June 10, 1910,
with deposits for the first year light,
satisfactory until it now has s775.-
407.17 to the credit of its depositors
and its assets are $85O,752.74
The bank has $4,000 capital, with
undivided profits and surplus of $685.
o69.87. a gold mark" institution.
WAuSiCc oltei uSSns ~ coAucut OF tne
bank. possesses the friendship and
confidence of the financial district and
Is especially popular in 'hts own home
town." He was one Of the organizers
Of the bank. its first cashier and an
experienced banker of thirty years
standing. having his initial training
under the ofncials Of the National
Capital Bank.
Mr.. Otterback ID vice president of
the National Capital Insurance COM
pany. director Of the Eastern Build
ing and Loan Association AMI .ie