The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1922-01-06
EXECUTIVE BODY
LOCAL BANKERS
TOCONFER TODAY
School Savings System
. For Washington to
Be Discussed.
OTHER LOCAL NOTES
Swift & Co. Earnings; Federal
Bank Deposits; Damascus
Declares Dividend.
OTHER LOCAL NOTES

Victor B. Deyber. secretary of the
District of Columbia Bankers AS
ISOLATION, has sent out a call to
naembers of the council of admin
istration of the association to meet
in the offices of President John +.
Larner this afternoon at o'clock,
In the main for the purpose of con-
fsrring with Howard Moran. OF the
American Security and Trust Com
pany on a savings system for
schools in the District of Columbia.
Mr.. Moran, who was appointed
chairman of the school savings COM
mittee of the bankers body several
months ago. has been in almost
constant touch with local school
and public officials, and it Is be-
lieved that at today's meeting he
will submit tentative plans for the
conducting of a campaign leading
to a spirit of thrift on the part of
District school children.
Swift & Co.'s Earnings.
A financial statement of Swift
and Company's condition for the
fiscal year ending November 5. 1921.
shows assets of 1851. S43.S 6674.
which figure is 2o4 per cent of cur
rent liabilities. including five and
ten-year gold notes aggregating
s65. 900. 900.
Wages were reduced about 12i.
per cent in the packing industry In
March. 1921. and since the close of
the fiscal year the question OF
further decrease in wage rates
brought about another cut Of about
10 per cent, effective November %.
1921
Federal Bank Statement.
The Federal National Bank re-
ports deposits of S4.442.254.1O as of
the close of business December 81,
which represents a gain of s275,-
1880 over the previous statement.
issued as of the close of business
September 6.
Damascus Bank Dividend.
The Bank of Damascus Damas-
Gus. Nd, of which William R.
deLashmutt, cashier of the United
States Savings Bank. is president.
has declared its initial dividend of
~ per cent quarterly. Col. Wade
II. Cooper. stockholder No. 1. has
received dividend check No. 1.
Local Securities.
Fourteen sales OF Potomac Elec-
trio bonds constituted almost the
sole activity on the local exchange
yesterday, when seven sales OF
$1,000 blocks of Potomac Electric
cons. 5s were made at So Seven
sales of the same company's gen.
eral 6s. for like blocks, brought
9S1A.
A $1,000 block of Washington
Gas 5s were traded in at SO.
Capital Traction IS to the extent
of one $500 block sold at s5.
Ten shares of Washington Rail-
way and Electric preferred were
traded at 81.
There were no sales noted after
call.
Forum Meetings to start.
Following the practice Of chap
tiers in the larger cities of the
country. the Washington chapter
of the American Institute of Bank
ing will inaugurate series of
forum" meetings to be held
monthly. according to an announce
ment made by W. J. Waller. of the
American National Bank. president
of the local organization.
The first of these meetings win
he held at the Harrington Hotel
next Thursday evening at 6:1J
o'clock. when around the dinner
table graduates of the chapter and
officers of local banks will discuss
changes of income tax as affect
ing financial institutions
Mr.. Waller said that owing to
limited space only forty seats will
he procurable. and that those wish
ing to secure accommodations
should communicate with Francis
G. Addison, jr., vice president of
the Security Savings and CONNER
cial Bank. Ninth and G streets. be-
fore Tuesday of next week