The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1922-02-07
DISTRICT ALB.
STUDENTS STRIVE
FOR RECOGNITION
Submit Essays, Winning
Three to Accompany
Bankers on Trip.
BONDS WELL BOUGHT
Individual Buyers Heaviest
-, Purchasers Of New Issue.
Other Local Notes.

While practically nothing. as
yet. has been done in planning the
annual convention of the
District Bankers Association for
the year 1922. W. ]. Waller, presi-
dent of the local chapter. Ameri-
can Institute of Banking. yester-
day advised that already many
members Of his classes have COM
pletsd their essays on banking
: topics, the best three of which will
be presented at the yearly conven-
ton replacing. in a way. the usual
symposium
p At the last convention of local
bankers, held at white Sulphur
Springs last JuEe. George o. Wal
: son. president of the Liberty Ma
tional Bank, originated an idea
which, after several amendments.
was adopted, the substance OF
which is as follows: That any
student in good standing in the
. local chapter who attends rs per
cent of the lectures can submit an
essay on any banking topic. the
subject TO be at the authors
option, and not to exceed 5000
words in length. This essay shall
be written and handed in at the
end Of the season for criticism and
examination by a. committee from
the District of Columbia Bankers
Association. Authors of the best
three papers submitted will receive
recognition for their efforts in the
form of a trip to the convention,
the expenses to be borne by the
rank he or she represents, provided
that Institution is a member of the
District Bankers Association.
1nasmuch as there are mere than
200 students comprising the eligible
field, the contest promises to wax
considerable warmth within the
next few months. in the opinion
of local oricials.
Farm Land Bond Issue.
Local bond houses reported a
good demand for the Federal Land
Bank 5 per cent 2O-year bonds. Of
fered to the public yesterday. This
issue. which aggregates SIS. 900. 900,
-is1the largest offering of farm loan
bonds ever made, and is being
foated by Alexander Brown and
Sons, Brown Brothers and Com
pany. National City Company, Guar
anty Company. Harris, Forbes and
Company. and Lee. Higginson and
Company. This group of bankers
has handled previous issues of farm
loan bonds, the aggregate last year
amounting to 500, 900. 900. but 1t
has never before undertaken the
distribution of such a large amount
as the present issue at one time.
The bonds are dated November 1,
and callable after November 1. 1881.
The selling price is 102 q and in
terest to yield about 40 per cent
to the redeemabIe date and per
cent thereafter Previous issues Of
these bonds have sold in New York
recently as high as 104. and the
sse.00O,oo0 issue last fall was sold
publicly at par
The issue Is strictly tax exempt
by order Of the U. S. Supreme Court
District houses yesterday advised
Individual buyers were heaviest
purchasers of the Offering
War Finance Corporation.
The War Finance Corporation,
4 Ough Managing Director Meyer,
yesterday announced that from
February 2 to February 4, 1922,
both these dates inclusive. IL ap-
proved 154 advances. aggregatinE
s4,344,000 for agricultural and live
stock purposes.
During the week ending Febru-
any 4. 1922. the corporation ap-
proved total of 331 shares, aggre-
eating ss.5s7.OOO for the same pur-
noses.
Local Securities.
There were neither features nor
new developments on the Washing
ton Stock Exchange yesterday. Is
sues attracting recent attention
were. for the most part, dull, trad
ers being reluctant to meet the
slight difference existing between
bid and asked prices
Ten shares of Mergenthaler sold
at 14oh. with Lanston slightly
more active at "a. Twenty shares
In the bond list. Washington Gas IS
sold at 30 with "Pepco" consol. IS
selling at 81.
A. i. b. Meeting.
Charles E. Howe, treasurer of the
American. Security and Trust Com
pany. will lecture to the elementary
class, American Institute Of Bank
ing tonight on The Safe Deposit
Department OF a Bank"
Personal.
Allan z. walker. head of the AL
Ian E Walker companies and allied
interests. will leave today for a
short vacation and rest at Palm
Beach. Florida. 1t was Mr.. Walk
er's original plan to spend several
weeks on the Pacific Coast but press
of business in the real estate field.
unusually active for this time Of
the year. made the Western trip
impossible.
Mrs. Walker will accompany her
husband on the trip to the South.