Evening star., 1923-04-16
$6,OO0,O)O BOND
ISSUE NOW ON SALE
Federal Land Banks Put Out
Offering to Replace U. S.
Obligations Called In.

Following the recent cali by fea.
eral land banks for the redemption
and payment of $55,o32.o00 outstaud
| ing per cent bonds as Of May )
announcement was made today by tbs
federal land banks and by Alexandet
| Brown & Sons Of Baltimore; Harris.
Forbes e. Co.; Brown Brothers & &C
Lee, Higginson & Co. and the Guar
anty Company OF New York of ths
offering today of a new issue ~
S75.000,000 ten-thirty Az per cent
federal land bank bonds at price -
1001a and interest, to yield about AS
/ per cent to the redeemable date 1879
and 41a per cent thereafter TO re-
demption or maturity.
The houses mentioned are the man
ayers of a group of approximate
1000 investment houses throughou-
the United States which, in conjunc.
tion with the federal land banks, Of
fer at intervals the bonds OF thu
banks. Recent offerings OF these
bonds have been quickly absorbeG
and with s55,000,000 available for r.
investment prompt sale is autIc
pated.
The new issue will run for "a y,erfe,5
of thirty years instead of twenty year
tS HtTelOIoTt, Dul Will De TGueeTlat's+t. H.
usual, at the end of ten years. Tine
bonds will be dated January. 1872, ra-
deemable on or after January l. 1873
and mature January l, 1853. They VII
be in denominations of 100000, 5000.
$1,000. $780, 500 and $40. Interest II
payable January and July / at any
federal land bank or federal reserve
bank.
The supreme Court, Of the rniraa
exempt from federal and local taxation,
and the strong financial position ard
progress Of the banks have been III,
subject Of favorable comment.
A. I. ID. Examinations.
Examination papers for all classes ri
the local chapter of the American II
stitute of Banking have arrived in t-e
city, according TO James G. Dulin, IT,.
president. and members Of the eie-
mentary class will be examined ii.
Elemental Banking" tomorrow Iligl.
at the organizations headquarters IA
the new Masonic building, starting Ill
T:30 o'clock.
Members of the Thursday night cla
will be examined In Commercial Law
Thursday night, while those who haz
followed the Negotiable instruments
lectures will endeavor TO qualify on 4 E
night of Fritlay, April %.
The Wednesday night class will II:
examined In standard banking" o.
Tuesday, April "a, while those pun
:
will be asked to pass their examina-
tions on May 8. The same hour -.
beginning examinations will prevail
throughout.
Preparing for Convention.
Preparations are already under Y ~
! for those members of the local chap
ter who intend being present ar ~"
forthcoming national convention II
| the American Institution Of Banki. :,
which will be held in Cleveland,
| July Is to 20. inclusive.
J 1t is the intention of many to c.
gage special car facilities, and all
those contemplating the trip are r..
! Quested to communicate with NJ.
; Dulin as soon as possible. Already
two women. connected with the RiE--
! National Bank. Miss Florence NJ. VII
Ter and Catherine VI. Krieg, have e.;
and I. Hunton Leith, OF the Security
Commercial and Savings Bank, have
done likewise.
Delegates TO represent the loce
chapter at the convention We're non
mated last week, and those TO 60 -
Cleveland will be elected at a NEE
ing of the chapter to be held Apyil
20. At this same meeting nominatiou
Of officers to serve the WashingJs.
chapter for 1923-1924 will also lie
made, and the election of the latte
and installation will be held on tie
night of May 10.
The April number Of the A. T. Il
magazine is out, and contains "a
itinerary of the coming CONVEX tic.
which should appeal 70 many metu-
bers living in the eastern states
There will be la0 delegates from
every section of the country present.
Personal Mention.
Milton L. Allies. president Of tha
Riggs National Bank. returned to his
desk today after a ten-day siege 5f
grip. The genial official was the re-
cipient of many congratula tfons from
members of the banks large force