Evening star., 1925-01-26
POLL ON BRANCH !:
BANKING IS CLOSE
Views About Equally Divided,
on McFadden Bill, Now
Before Congress.
BY CHAS. p. sHAEFFEB.

Preliminary results OF nation
wide referendum on the branch bank
provisions of the McFaddeR banking.
bill. conducted by a popular bankers
magazine, disclose a majority Of votes
IN favor of the provisions.
Ballots in the form OF a post card
with an accompanying explana,tory =
letter, were sent out to about 10000
banks On December 81 2,779 replies
had been received, representing al
most 10 per cent Of the total solicited
Out OF these returns I, 440 banks voted
for the bill and 1889 against II, the,
dInrmatiye leading by 10I votes.
In faVor OF the measure there Were
'F national banks, 553 State banks
ana ITO votes that could not be clas--
sined. Against the measure were $50
State banks. 226 national hanks and
153 unclassified =
branches Of national banks within
the corporate limits of the municipaIE
Ity Where the head Office is located
ana In those States which authorize
state banks to have branches are ex-
measure.
Also, the bill prohibits State hanks
from bringing into the Federal re
| serve system any branches which .
'hey nave in operation beyond the
corporate limits of the municipaIftv
IN which their head office is located q
ana further prohibits any member Of
the Federal reserve system from
estaplishing a branch beyond such
corporate limits. Such existing
branches are not affected.
Ine Iegalization of limited branch >
banking by the national banks and
the limitations Of branch banking nv
state Dank members of the Fedora fC
reserve system, as proposed in the
p' pl.i' whlch VIII most likely come up
lor actlon this week, constitutes :
0eparture or the greatest Importance
10 the banks of the country.
Mortgage Firm Reports.
The Mortgage Bond and Guaran+v..
corporation has total resources of-
S537,541 as of December 31 1904 end
surplus of s25,241, out of which e
ulVlaehd aggregating s6,193 was paid
on January ., according to statement
OF earnings made public this morning
II was also announced that arrange,s
lneht with a large surety company to,
: ntee the company's first mort :
gage certihcates as to payment Of.
| principal and interest are practicaIfZ-.
| completed -
| Omcers of the corporation are -IIarr,s
/ A. Kite, president; Appleton p. C7arE
u, ana hugh A. Thrift, vice presie.
I, W }. Waller, treasurer, ana
/ rank T. Morse, secretary.
! i"SHam AT institute. NE
"A ne gotiable instruments class. ors1
sdiliZed 4aSt week, Will begin func-.
| uonlng as regular feature in thAz
| !ocai chapters curriculum. America r.
| institute OF Banking, on Wednesdal5
nlSht. The class will be In charge n
n. n. b. Dlckey. the first lecture being
! r orIn and Interpretation"
| !ohlght the standard banking claxss
| VIII meet with +. J. Donohue. v-i*ls :
| the account in ,71z
| Moyer conVening tomorrow night. 0uz
! thursday night Eliot H Themsot{S
VIII discuss agency and partnership
| with the elementary banking clasSzl
| simultaneous with the. meeting of thh1'
! puoilc speaking class. under Rufus
Lusk, IN the stock exchange roors3-
! Ihe following night there will be :.
| lecture on public finance by 2. !
| Donohue before the standard ecoH7
| omlcs class, and credits class ms -
ing conducted by r. Gordon Finney1.
Personal Mention.
Eugene E. Thompson, president o4o
! the Washington Stock Exchange, Will :
| return to Washington, Wednesday
| morning, after helping inaugurats =
! Seaboard Air Line in Florida last
! Saturday
Local Exchange Buoyant.
4 buoyant market, characterized
by rising prices and the establish.
ment of additional new highs. ruled :
| on the Washington Stock Exchange
| this morning.
Riggs National Bank stock sold to thz
extent of 10 shares at 322, the highest.
point since the stock dividend was de
| clared two years ago. Washington Gas -
stock sold at SO to the extent Of 81
| shares, while Railway common was &C.
| tive to the amount of so shares at 101. =
! Capital Traction stock was slightly
easier. with 20 shares selling at 91s.
as was Railway preferred at S094. Ian
| ston Monotype brought 1864, and Ma
| tional Mortgage & Investment pre-
ferred recovered to 91s on sales Of 26s
| shares.
The bond market was listless. !,