Evening star., 1924-09-04
WANT DELEGATION
FOR CONVENTION. .
Local Bankers Would Char
ter Special Car to Coming
Meeting in Chicago.
BY CHAs. p. sHAEFFER

The annual convention of the
american Bankers Association this
year VIII be held in Chicago, Septem-
Der 20 to October 2. inclusive.
steps nave been undertaken locally
nS o.. harry V. Haynes to organize a
" washington delegation sufficient in
NUMBER to justify a special car on a
crack train to the western metropolis.
Clrcularzation of District banks in
the nope of securing the necessary
.iuIhoer mas Just been started, but Mr..
ayhes Is confident of it's success. No
national convention is complete with
out several District financiers, and al
reaoy Lanler p. McLachlen. w. w.
Spaid and Victor B. Deyber have sig
nineo Ieo their intention to attend again
this year
Mr. Haynes will attend in his Off
ciai capacity as one of the seven
members of the clearing house COM
mittee. This feature of the program.
according to Mr.. Haynes. who has
received an advance copy for perusaI
and suggestion, is comprehensive and
eniightening.
The remainder Of the program is
said to be entirely up to the standard
formerly maintained. World renown-
ed authorities on subjects of vital
interest to bankers have been invited
to attend, while the entertainment
end of the convention leaves nothing
to be desired
Treasury Needs $500 600, 600.
the Treasury for the financial opera
tion 1t must make September Is. and
1t was announced today that Federal
Reserve Banks have been authorized
to begin redemption of the certiti
ca-es of Indebtedness due on that
date. 1t previously had been an
nounced that an issue of certificates
would be fioated on September Is.
Present indications are that the
third installment of income tax pay
nents, due September Is, will be
considerably less than originally eS
timated, and that the Treasury will
need from 100000, ,000 to $3.50, ,o00.-
900 to care for its maturing indebt-
edneSS.
Stockholders Get s5 a Share.
Shareholders Of the Merchants and
Farmers Bank Of Anacostia will
realize about s. share on their
holdings under the liquidation pro-
ceedings now going on, Charles T.
Clayton, counsel for the trustees in
dicated this morning.
Depositors of the defunct institu-
tion will be paid in full In fact, they
with the exception of about $4,000
which has not been called for
Trustees have on hand $4,000 to meet
this requirement, it was said.
A compilation of the institutions
paper reveals a total of $4,000 in
notes and collateral loans, with as
sets amounting TO $4,000.
The Anacostia Finance Company,
the outgrowth Of the Merchants and
Farmers Bank, is said to be pro-
crossing.
Personal Mention.
C. F. jacobson, vice president and
cashier of the National Metropolitan
Bank is away on a Today motor
trip through the New England States.
George A. Harris, president of the
Potomac Joint Stock Land Bank, has
returned to Washington after two
weeks at Deer Park, Md.
w. W. Powell, secretary of the
American Association of Joint Stock
Land Banks. has returned to the city
after attending the annual conven-
Chicago last week. Wade B. Hamp-
ton represented the Washington mem
bers at the convention.
I. J. Roberts of Riggs National
Bank is back at his desk after hi
bernating" in Maine for severa:
weeks.
August transactions Heavy.
Transactions in securities on the New
York Stock Exchange during August
totaled 22,255.600 shares, 9.011.300
more than in the same month last
year, and S,164,700 shares over Au-
gust, 1922.
The daily trading average was
S55,SS4 shares. The heaviest tire-hoU:
session recorded was 1.S67.500 shares.
end the smallest 596,400. The largest
two-hour day was 595,S00 shares and
he smallest 370,900.
Trading on Local Exchange.
Activity in Capital Traction stock
at it's weak level, s1&4, featured sales
on the Washington Stock Exchange
this morning. A total of 100 shares
changed hands, mostly in small
blocks.
National Mortgage and Investment
preferred gained fractionally to 93s
on sales of $50 shares. and Riggs Ma
tional Bank was also stronger, %
shares selling a 293. Lanston moved
upward one point to IS, and National
Metropolitan Bank sold at 292t2.
Bond trading was dull and uninter-