Evening star., 1924-11-10
M'KEE AND THOM
NAMED BODY HEADS
Bankers Law and LegisIa,
tive and Budget Commit
tees Named by Deyber.
BY CHAS. r. SHAEFFER.

| Fl. II. Mckee. president of the Ma.
tlonal Capital Bank, and Corcoran
nom, vice president of the American
security and Trust Co. have bee
| CHOSEN respective chairmen of tho Law
| ana legislative and the new budget
| committee of the District bankers As
sociation by Victor b. Deyber, presi-
| oent OF the local bankers body.
| MI. Mckee has selected as aides r.
ms work George w. White. w. w
SEaid Charles J. Bell John B. Larne,
Francis G. Addison, jr and Maurice
Otterback. From this selection Il is
seen mat every class of District bank
ins institution has representation or
the committee, assuring to each class
| passage OF only beneficial edicts
! Mr. Ihom's committee is an untred
! quahty' but has a well defined purpose
| All association funds are raised by as
sesshent and by membership dues. Eacg
| bahk Is required to advance A nominal
| sum each year to renew its membership
| IN tne association, while those possess
| ihS prahcneS are required to put I'D an
aoditlonai amount (one-ffth of the
| HeMoeship charges) for each branch
| maintained. This amounts to a wear
~ revenue of slightly more than
$4,000.
Expenses of running the local asso.
cation since installation Of perma
hent headquarters, with salariei
! assistant secretary and the active
| Iuhctlohlng Of the protective plar.
amount TO several thousands of dol.
! lars IN excess of revenues prone,
| way TO meet this expense will be tn
! Dig consideration of the budget com.
| hittee. The unparalleled success of tn
! protective plan would indicate II is 4
| HAture IN the associations curriculum
ana well worth whatever the cost a
| us maintenance. Therefore, il is cor.
sldered highly unlikely that any ac
| verse comment will be forthcomin4
| from Washington banks relative T.
! assessment for service of such estaL.
! NShed worth
Assisting Mr.. Thorn will be John L
l-arner, b. A. BowIes, W. w. Spaid
/ George w. White and A. S, GatIe.
! the last named two having not !.
| accepted the appointment
Bank Resources Soar.
Controller of the Currency Dave.
! mas issued report on the conditio;
OF 6o'4 national banks, showing tota,
resources on October 10 of s23,322
V9I'oe0. the highest point sine
| November 15 1920.
The results of the bank call of oc-
! tober 10 showed an increase of $3.50
! eOoU00 in the banks total resource
| since the call of June 80 and an In.
crease OF $3.50, $4,000 since the CA
OF September 10. 1923. The figures
| az tlS opinion OF the controller, re
| Meet in measure the prosperftv
! the country. as we'll as the nature
! CROWN OF its wealth, since there ha
| been no slackening of the increase ii
resources at any time in the last yea
! betWeen the dates of the last tw
calls. loans and discounts by the r;..
( tonal banks We're increased by so37
| 4-V.oUo, and the amount October u
Sl2-2l0, 14S,U00. was greater by S275
19Z.Ooo The loaning business of IN.
banks began to move up perceptibI.
/ IN the late summer months. which il.
Guides the time for financing crops
deposits OF the national institution
| We're reported October 10 at Sl91OS
! 'SS'oO0' or gain of s760.96 900 owe
| lhe amount intrusted TO the banks O.,
June 80 1t was S2,o6S, ,26S, 900 large.
| tnan the amount of deposits at tn
time Of the September call yea
ago.
! Southern Gets Bond Rights,
The Southern Railway Company IL.
gay received authority from the II
terState Commerce Commission 4
procure authentication and deliver,
! 10 It's treasury of s5.000OO0 OF deyel.
opment and general mortgage 4 De,
! cent gold bonds, to be held until fur
ther order of the commission.
Inc New Orleans, Texas and Mex
lCo halfway Company asked for an
| thorltg 10 issue S1,740,0 900 of pei
cent equipment trust certificates Il
! oe solo TO BAR Co. at 9S.46, tht
| proceeds to be used to ACQUIRE sol
| box cars, 500 automobile cars. 25i
| coal cars and two dining cars.
| The ST. Louis-San Francisco roat
! asked for authority to issue $4,000.
! oOo OF per cent collateral gold note.
in lieu of note previously held bI
| the director general of railroads. ant
! nlHGoR
! the notes 100000 of prior Iiep
| mortgage gold bonds.
| New Offerings on Sale.
i Private offering is being made to
! day, locally, of S3,95a.000 of 5 Del
| cent notes of the Woolco. owner
| and managers of the Woolwortl
| Building of New York City, maturing
| serfally from 1926 to 1882, yielding
| as to SIS per cent.
! These notes are indorsed by thI
! f. w. Woolworth Co. and are Sc.
cured by equities in the building
which. in 1928, amounted to mori
than s20.0Oo,000.
! Program of Institute.
No variations from the regular
schedule are announced for the local
chapter, American Institute of Bank,
ing, this week. F. J. Donohue will
lecture tonight and Friday, with
j. X. Meyer, r. 3. Dickey and Eliot
| H. Thompson holding forth in ths
| order name the intervening nights
Rufus Luck will meet with his public
speaking and debating class on
| Thursday night in the Stock Ex.
change rooms and r. Gordon Finneg
will also hold a session with tbs
credits class on Friday night.
The woman's committee on Thurs.
| day night will entertain Constance
! Il. Nelson of the Cleveland ,chapte:
! at dinner and the theater
Trading on Local Board.
! Sales of 500 shares of NationaI
Mortgage and Investment preferreI
| constituted the bulk of trade on tn,
local exchange today. The price was
| unchanged at g..