Evening star., 1925-09-15
FOLGER SELECTED
CHIEF EXAMINER
Appointment of Local Bank
Supervisor to Be Made
Late This Afternoon.
BY CHAS. p. SHAEFFER.

W. P. Folger will be the next chief
national bank examiner of the fifth
Federal reserve district, 1t was learned
at the office of the controller of the
currency this morning. The appoint
ment will be made some time this
afternoon, 1t was indicated.
Mr.. Folger will succeed Edwin T.
Rorebeck, formerly chief examiner,
who resigned some months ago to fol
low another pursuit
The new incumbent of this impor-
tant office is extremely popular among
the Washington banking fraternity,
where he has been in charge of exam
nations for the last four years. His
appointment, which is a prerogative
OF the controller, meets with their
unqualified approval, and is added
evidence of the congeniality as exist
ing between an administrative office
and the public it serves-in marked
contrast to conditions before advent
of the present administration when
the then controller was seemingly
always at odds with the interests he
served
Mr.. Folger has had seven years ex-
perience in bank examining AS chief
he will have entire supervision OF
every examination conducted in the
District Of Columbia. Maryland, Vir-
ginia, West Virginia, North and South
Carolina.
Trading on Local Board
Today's session on the Washington
Exchange was one Of the dullest Of
the year. Capital Traction. selling ex-
dividend / q per cent. advanced slight
ly to % on sales of u shares, and
National Mortgage and Investment
preferred f1rmed up TO ga on sales
of 20 shares. A sale of $500 o.
TY-oN e
activity.
Riggs Declares Dividend.
Directors of Riggs National Bau
yesterday declared the regular sem.
annual dividend of 6i2 per cent an.
an extra disbursement Of l per cen.
both payable on October . to stucs
Of record September 80.
These declarations continue the rat.
established last October. when IL,
first semiannual extra of / per Ger
| was declared. In other words the
stitution is on a definite level of
per cent yearly, with extra disburs,
| ments being made when officials =
| fit. For the year ended October
stockholders will have received =.
turn of Is per cent on their inves
ment.
Daylight Saving, Ends Sunday.
| DdNuSHJ SdNlDRS IlIH0 VIII emu
| New York next Sunday. and on d
| following morning Washington cor
mission houses will start business o.
| hour later.
New York Stock Exchange houst
| having local branches will then ope
at 10 o'clock, standard time, and ~
| close at 8. On Saturdays they VI
| close at 2 o'clock noon instead of
/ as has been the case for sever
| months.
| New Bond Status Urged.
! C. F. Childs & Co. specialists
! United States Government bonds, j;
| its last monthly bulletin published
| today, calls upon the United State
Government to place Farm Loan bond
| on the same plane as Liberty and
other Government bonds Land Bank
bonds are now as fully taX-exempt a
Liberty 31as. enjoying this privilege
| under Government regulations which
were passed as a means of amplify-
| ing farm credit.
| The bulletin indicates unmistakably
| that c. F. Childs & Co, have joine-l
| forces with other institutions whicl
are now seeking to prevail upon til
! Government TO recognize farm loa
| bonds as a direct Government obliga
ton. BY doing this, it is held. II
| Government will help to create
wider secondary market for the
bonds and thus will help out in +
program of reducing interest RI
| on loans to farmers.
Long Conversion Extended
The State Department has receiN
notice that the date for conversion
| Polish per cen internal loan bon
series of 1920, had been extended
| September 81, 1925. The conversi
| is being made though the Polish
| operative Bank of New York.
Bank Officer i'm Hospital.
| Roy L. Neuhauser. vice presid
| of the Citizens Saving Bank, is co
fined at Garfield Hospital, with
! carbuncle. growing out of an infect
| bruise received while on vacation.
| L. S. Certificates Allotted.
The Fifth Federal Reserve Distri'
has been allotted s7.610,000 on sub
scription of 81 per cent Treasurl
| certificates of Indebtedness, dated
September Is and maturing in nine
months.
Total allottments throughout the
system amounted to s251, $4,000.