Evening star., 1923-05-27

day by Robert V Fleming, vice pres
idcnt of Riggs National Bank ana
chairman of the general committee
in charge of arrangements for the
Forthcoming convention of the Dis
trict of Columbia Bankers Associa-
tion at Hot Springs next month, that
five speakers of national reputation
had been secured to address the
gathering.
The subjects to be taken by these
men, the names of whom will be an
nounced later, are Government
Finance, "The Railroad Situation"
Finance Companies and Their Re
lation to Banks THE Automotive
Industry and Its Problems and "A
Broader Outlook for Washington"
1t was further announced by the
committee in charge that arrange
ments had been made with Cath
OliC priest, whereby mass Will be
conducted at the resort on the sun
day the bankers are there. Last
year considerable inconvenience was
experienced by bankers of that faith,
due to there being no Catholic SerV-
ices al the time of their stay.
Fernand Petit, chairman of the
transportation committee, said yes
terday that while applications for
reservations 1nQlCateO large az
tendance at the convention, there
were still reservation to be hadT and
urged that all those yet to secure
same will place their requests in
writing, as much confusion has re-
suited from phoning in orders.
Treasury Payment Due.
Depository banks yesterday receiv.
ed call for payment on May ~ or
20 per cent of the amount of de-
posit with them, arising from the
purchase of United States q per
cent Treasury notes of series B-1927
which were dated May Is, 1923.
Fleeing the Public.
A small pocket volume. clearly and
briefly describing thirty-three ways
by which irresponsible sellers of Sc
curities fleece inexperienced an un-
wary investors, has been published
by the Better Business Bureau OF
Washington and is being widely dis
tributed.
The articles embodied in the book
let are by Fl. J. Kenner, president
of the Better Business Bureau ana
formerly director of the National
Vigflance Committee. They were first
published as a series in a New YORK
newspaper and attracted wide at
tention.
Among the schemes to defraud the
public set forth by Mr.. kenner are
blind pools, fake price increases. re
loading schemes, interim certlhcates
and housing trusts.
The advisory council of the Better
Business Bureau is headed by David
F Houston. president of the Bell
Telephone Securities Company. me-
and formerly Secretary of the Treas
ury, and has among its membership
many distinguished bankers. me nu-
reau, according to published status.
tics. has saved the public upward of
s25.OOO.0O0 since it began operation
last July.
Reserve Ratio Advances.
Combined Federal Reserve ratio
stands at 1855 per cent, compared WIN
1913 per cent a week ago ana go
Imnrovement in ratio was due to
an increase in cash reserve, and de-
crease in deposits. and notes IN CIR
eulation Cold inGreaSed Hnder review HslVuUd and
stands at s3.o93.295,o0o. Gold held
bv Federal Reserve Banks has in
creased slowly during the last year
but authorities say there is lttie
low metal in the near future. Ihere
have recently been numerous warn
inCs issued calling attention 10 the
danger of large gold exports, but II
is significant fact that no llnpo Tan I
country seems willing to remove its
embargo on gold shipments. Even
England fears free gold market
would result in a further loss to
America.
0oo, 900 of Victory notes matured May
20 gain in reserve ratio appears
very encouraging. Although this was
purely a refinancing operation, it was
expected to result in some temporary
increase in volume of loans
Loans stand at $700,313,000 COM
Dared with $697,331.00 for the pre-
vious week and S4S7, 10000 year ago
Investments owned amount to S207,-
$4,000. This, is an increase of $lS,-
0S5,O00 for the week and probably
represents investments in the recent
issue of Treasury notes.
Government deposits were allowed
TO run down to s6.332,000. This is the
lowest figure touched in many weeks,
and forecasts immediate withdraw
ais from member banks. About $780,
00O, 900 was withdrawn Monday. The
fact that at the close of business,
Tuesday, deposits had declined to So
$4,000 indicates that Victory notes
were presented for payment in large
volume.
Richest Men in World.
Here is list of men who are cred
tied in authoritative circles With pos
sessing more wealth as individuals
than any other group on earth:
Henry Ford, $550,000, 900.
John D. Rockefeller, $500, 900, 900.
The Duke of. Westminster. $780,
o00. 900 TO s200.000,000.
Sir Basil zaharoff, 800. 900, 900 to
s125:0eO, 900.
Hugo SHINES, 500, 900, 900.
Percy Rockefeller, 100000, 900.
Baron H. Mitsui. s100,000,000.
Baron K Iwasaki. 100000, 900.
J. B. Duke. S100,000.000.
George F. Baker, $100,000,0 900.
The Gaekwar of Baroda, 1925, ,000,-
600.
r. B. Walker-Perhaps less than
S100.000,000; perhaps as high as $780,
600, 900.
Richest Families Also Named.
Some explanations are necessary in
these items. said the New York Times
in a recent article. More pressing is
the need of accounting for some pal
pable omissions. The Rothschilds
will occur to any one. glancing over
the list. But the Rothschilds come
in another class-those whose for
tunes cannot be credited to any indi-
vidual. but belong to a family.
In this second category the leaders
are:
The Rothschi1ds-s25o,oo ,ooo, 900 to
$500, 000. 600
The Guggenheims-S200.0 100000.
The Vanderbilts-S75.0 100000 to
100000, 900.
The weyerhaeusers-F $780,
O00 0O0,un