The Washington herald., 1921-10-26
BIG CLASS GREETS
LOCAL OFFICIALS
ON OPENING NIGHT
Approximately It's Mem
bers Hear Watson in
A. /. b. Address.
OTHER LOCAL NOTES
Mellon Calls for $4,000, 900.
/ District Securities Dull.
Personal Items.
OTHER LOCAL NOTES

-~fPhNAiI1dtcly lfS members, One
OF the largest in District annals.
greeted President Waller at the
opening session of the elementary
class. American Institute of Bank
Ing. last night.
The elementary course includes q
study of the fundamentals of bank
ing. being intended to supply the
needed training for those who lack
the necessary experience to pursue
the standard course. Students who
pass the final examinations are
awarded the elementary certifcats
of the Institute.
George o. Watson. president of
the Liberty National Bank. con-
Quoted the first lecture Of the cur
rent season. on bank Organization
and administration. Mr.. Watson
discussed every detail carefully, be-
ginning with the different kinds OF
panks; the relationship of each
Kind Of banking Institution to the
general community; how they ara
governed: how directors and officers
Ire chosen and the duties and re-
probabilities of each.
PRESIDENT Waller preoluded Mr..
Walson's remarks with a brief ad-
press, outlining the program for
he coming year. lauding the value
pr institute training and calling at
ention to achievements of gradu-
ftes Of the local chapter.
Cali for Funds
Secretary of the Treasury Mellon.
yesterday called on all national
banks haying proceeds of the Oc-
foPer Is sale of certificates to pay
nto their regional members by
Thursday 10 per cent of such pro-
Feeds.
This call will approximate ST.
o0.O00. leaving about Ss1.000.000 to
he credit of the Treasury.
Local Securities.
Public utility securities occupied
he limelight on the Washington
stock Exchange yesterday. with
prices displaying a fair degree of
|trength. Capital Traction SIS sold
u s9S, Washington Railway and
Electric IS at 59S. and Potomac
Electric consol. SIS at Sc
Railway common stock sold to
he extent of so shares at IS: 10
|hares of preferred at 81. and 10
hares of Mergenthaler at 1873
Personals
Rolfe z. Boiling. president of the
Commercial National Bank. has re-
turned to Washington after a two
weeks vacation spent with rela-
ives at Abingdon, Va. He was ac-
Fompanied by Mrs. Boiling.
James Trimble. jr-. acting cashier
= the Standard Savings Bank.
With Mrs Trimble. Is enjoying a
wo weeks motor trip to New York
md through New England points.
Mexican OIL Production.
The Investment Bulletin. issued
~ the bond department of Henry
Doherty and Company. has the
ollowing to say under the above
aption, in its current issueS
Attention has again been called
declining Mexican production.
his time by Ralph Arnold, chair
nan of the petroleum and gas COM
hfttee of the American Institute Of
Inning and Metallurgical Engi-
eers. About eight months ago a
tatement was made at the annual
heeting of the above institute CALL
nE attention to the demoralizinr
fect of the abnormal oil produc-
ion of Mexico on the oil situation
the United States. 1t was pre-
1cte0 at the time, however, Inhs
his unstabilizing influence would
robabIy become impotent In
ghteen to twenty-four months
Trough. the exhaustion of the prin-
sal producing fields Of Mexico.
Mess new fields were found in
he meantime. When this state
ent was made, the daily produce
on of Mexico was about 100000
arrels of crude oil; now IL is
bout $4,000 barrels. No new
poIs of consequence have been
pened up. although extensions
ave been made to two old pools.
yer 100000 barrels. or more than
AFT of the present daily produc-
ON, comes from Los Naranjos,
haitian and North Zacamixtle.
lids in which practically every
ell is so affected by salt water
At the potential production OF
Csc wells dropped SO per cent in
month of September. clearly
dicating that these fields are
owing rapidly toward extinction.
he United States and Mexico pro-
&c six-sevenths of the world sup
". The production of the United
ates Is. as IL has been for sew
al years, below consumption.
sxico Is now the only foreign
Ill