Evening star., 1925-09-26
DC. BANKERSSTART
FOR ATLANTIC CITY
A. B. A. Convention viii Be
Golden JubiIee-0ther
Financial Notes.
BY CHAS. p. SHAEFFER.

The vanguard of Washington bank
ers left here at 1:15 o'clock this after
noon for Atlantic City, where the an
nual convention of the American
Bankers Association will be held next
week. The entire local delegation will
number about 20.
A feeling of cheerfulness is expect
ed to prevail at the convention. due
to the fact that the frozen" credit
situation in the Northwest virtually
has been Strengthened out, bank fail
ures are at a minimum and most in
stitutions are in a liquid position. Al
though holdings of securities are large
they are not believed to be unwieldy
and those held as collateral are gen
orally well secured.
Many Of the largest industrial com
panies are relatively free of bank In
debtednesS. and bank funds apparent
ly are sufficient to meet the normal
Fall expansion of business without a
strain on the credit situation. The
war debt situation is slowly righting
itself and large foreign loans and
credits are in prospect.
Local Bankers i'm Delegation.
This years convention is more in
the nature Of a golden jubilee, as the
business sessions will. in a way, be
subordinated by appropriate cere-
monies in celebration of completion Of
80 years of immeasurable service per
formed by the American Bankers As
sociation.
Local bankers who have signifed
their intention to attend the annual
conclave include Francis G.. Addison,
president of the local association; W.
w. Spaid and Howard Moran. vice
presidents; Harry V. Haynes, John NJ.
Riordon, John r. Waller, Floyd F.
Davis. Lanier P. McLachlen, H. c.
Stewart, A. NJ. Nevius, r. Golden
Donaldson, Victor B. Deyber, John
B. Larner, William II. Baden, Hol.
combe H. Johnson, John Poole. Joshua
Evans, jr.; Thomas P. Hickman
Thomas B. Lawler. Hilleary G.. Hos
kinson, Peter Drury, Francis NJ. Say
age and Dion S. Birney.
Bond Announcement Made.
Dillon. Read & Co. announce that in
conformity with the contract for the
United States relative to the Brazil
7l2 per cent coffee security loan of
1922, bonds have been drawn by lot
in the city of London, and that such
bonds are payable on and after Oc-
tober !, 1925 at par in sterling or the
equivalent in dollars at the current
| rate of exchange, at the Office of Dill
| lon, Read & Co. Nassau and Cedar
streets, New York City, upon presenta-
| ton and surrender with unpaid cou-
pons attached.
The numbers OF the bonds Of de-
nomination of 1000 pounds sterling
designated for redemption range from
| 2 to 2,541; the 500 pounds sterling
| from 2,601 to 6.S94, and the 100
| pounds sterling from 1852 to 4S,671.
More Business Failures.
Bradstreet's compilation of the
country's business failures for the
week ended September "a places the
number at 306, compared with 297
the week before, and 2S5 in the cor
responding week last year.
August Phone Earnings.
Net operating income of the Chesa-
peake & Potomac Telephone Co for
August amounted to S107.593, a gain
slightly in excess of $4,000, as COM
pared with the corresponding month
of last year, when S97 ,4S6 was shown.
The months net shows a slight up
turn over July also, when but S1o3,-
9S2 was returned.
Total operating revenue of the car
rier for the month amounted to S504,-
73S, with expenses totaling 1858 81.
Taxes assignable to operations and
uncollectable amounted to 1858. but
a deficit of 81 .176 was incurred in in
come from other sources"
Plant and equipment added during
the first eight months of 1925 amount
ed to 81 133331.S6, after deducting re-
tirements of $506.337.70.
T-,,V;etaJ Sao,,r;t;ac pr;caS