Evening star., 1922-05-26
CONVENTION WILL
BE WELL ATTENDED
Association Hears Reports
and Approves Home-More
Certificates.
bY 1. A. FLEMING.

The District Bankers Association
met. last night in it's new home, Sec
$nd floor Of the New Masonic Temple.
l3th street front. and those present
gave unqualified approval. congratu"
Ating the committee TOR its work and
on the econmy that cut previous esti-
mates in two. plus.
l. The condition OF the automobile
trade from the financial point of view
was discussed at some length and
nnally the entire matter was referred
TO the annual convention for thfesh :
ing out and. if possible. reaching an
asreemens for the solution of the
problems that develop.
Howard Moran, chairman of the
program committee of the convention,
told of the various speakers and plans
Tor an interesting session each day
and the belief that the symposium
committee under charge of E. j. Nc
Quade would develop interesting,
intimate points in banking during the
time allotted.
w. W. Spaid declined to give away
the plans for the entertainment, but
assured the members that there
Will be something doing
F. q. Addison, jr., announced reser.
Hations for 100 people, which assures
an attendance OF over 200.
"a number of other matters were dis
cussed at the meeting and commit
rees were named to give their atten-
ton to certain matters.
A short discussion of daylight
saving and banking hours was en-
gagged in.
Secretary Mellon announces in ad-
vance forthcoming issue of 5000. .00e
3h per cent Treasury certificates
Der Is
Some bankers were disappofnted az
the rate, but in view of the general
ease IN the money market and the
heavy reserves of the federal re-
' serve system, coupled with the fact
that the Secretary of the Treasury
had refused offers of s150,0OO,00O at
= per cent some weeks ago, few
familiar with conditions looked for
any higher rate.
sThe certifcates are exchangeable
for maturing certificates Of June ls
and for 50 per cent victory notes
tnat nave been. called for payment on
that date.
While there will probably be an
oFersdbScription, many bankers who
aeretofore have ordered literally will
not be among the large subscribers
at this time.
Honor E. J. McQuade.
sEdward ]. McQuade, formerly cash.
Ter or the Liberty National Bank, was
yesterday elected to vice presidency.
Nj McQuade Joined George o. wal
son When the latter started the Lib
erty Savings Bank on the way to the
success which the Liberty National
- has reached.
The new vice president has special
lzed on American Institute of Bank
ing work. is one of the governors of
the Washington Chapter. of which he
IS a graduate and past president. and
an of1cial of the A l. B. He is thor
0ughiy grounded in banking and an
able. earnest, effective bank official.
He succeeds the late Grant w. Tay-
lor
Michael F. Calnan was promoted to
the cashiership.
Strength was clearly the feature OF
the day of the local stock exchange.
Business was not so very active and
yet a fair amount of trades were
made. Invariably prices were strong
and practically on the top of recent
highs.
u. Thus Capital Traction IS. at ssa
halfway IS, at T4A. and Gas IS, at
- u. were all toppys smarks.
Halfway preferred sold again at 10,
Capital Traction at 97Lsas72, Mar-
genthaler at 153 and Lanston spurted
to I'm ex-dividend. equal to IS divi-
dend on.
Capital Traction Earnings.
During the month of April the Can
leal Traction Company showed gain
of $4,000 over the net earnings of
March, although slightly less, some
S3.U0e. than Tor the same month
last year. Total receipts were s442.-
O62 and expenses S316,069.