Evening star., 1925-10-09
DISTRICT BANKERS
OCTOBER 19
Service Charge Discussion
an important Topic on
Evenings Calendar.
BY CHAS. p. SHAEFFER.

The District of Columbia Bankers
Association will hold its Fall meetins.
at O'Clock on October 10 at head
quarters In the Masonic Temple.
francis q. Addison, president, an
nounced this morning
The meeting will be the first get
together occasion of the local asso-
cation since reorganization last June.
AL IL the program for the insuinG
year Will be carefully gone over and
committees heard and familiarized
with their respective tasks
The high light of the evening, it
is understood, will be d series of in
formal addresses by local bankers on
the ever-moot question of service
charG\S and unprofitabie accounts.
Inc speakers can be fairly rated as
faVorlng monthly charge for car
rylng accounts that do not return
profit. and they will attempt, by
statistics as Well as words. to inn
press the wisdom of such a policy
Concerted action by the local asso-
citation on this matter. however, is
not expected by President Addison
J nor Will he advocate unanimity He
mas already gone on record as being
non-partiSan as far as the ba nkers' as
sociation Is concerned. deeming il the
better procedure and more fitting as
president of the association 20 have
pounded in unmistakahle language.
Local Exchange Firm
Washington Stock Exchange issues
retained a firm tone in todavs trad
ing. The leadership of the narNo.
was assumed by stock of the Wash
ington Gas Light Co. which sold al
! 50, its recent best level. on sales Of
/ so shares. American Security and
Trust Co. stock was also very strong
at 3S8. trailed by Capital Traction
at 10oas and 100l2.
Volume of trade was light but ~
wide range.
Dillon, Read & Co. are offering to-
day 100000 shares of North American
Edison co. cumulative preferred
stock. The shares will he on u Sc
annual dividend basis and are price.
{ at SJ1 per share to WELD 61S PEI
! cent. Proceeds of the issue will he
| used to purchase additional secur-
1ties of the cOmpany'S subsidiaries
and for the retirement of floating
! debt heretofore incurred for the same
! purpose.
! North American Edison 60. was or
Ganized in 1922 and is q subsidiary of
! the North American Go. Most of the
| important and successful utility com
| panies in the North American system
are controlled by North American Edi-
son. More than so per cent of the
gross earnings and net income from
operation of North Americans princi-
| pal subsidiaries in 1924 We're of the
companies owned indirectly by North
American through its ownership nc
| North American Edison Go.
Big Saving in Interest.
Approximately 5000 600 will be
saved to farmers this year through
lower rates Of interest on farm loans.
according to the American Association
iof Joint Stock Land Banks. which has
completed survey Of farm loan con
iditionS. Due To growing popularity OF
farm security for loans. reflected in :.
substantial increase in joint stock Ia nj
bank business. the interest rate OF
farm loan bonds has declined y of !
| per cent in the last few months. As
| a result of this decline. the joint stock
! la nd hankS will save au annual inter
est carrying burden of $500. 900 in their
! sale this month of $4,000. 900 of AZ
per cent ref,Inding ana debt retiring
! bonds This saving will he passed on
/ to the farmer
! The Joint Stock Land Bank .Associa-
! tion has been given support III its ef
fort To widen the market for farm
! loan bonds by a number of either
+ banks. {. +. Childs & Co. the olde~L
! house in America to deal cXcllISiyelv
/ in Government bonds. announced yes
/ tcrdaN tina IL II had Joined in the move
ment to widen the market for such
securities. The announcement fol
! lows:
The Federal Land Ba nks and Joint
! Stock Land Banks were brought into
| existence by the Congress Of the Unit
! ed States. They are under Govern
; ment supervision even to the meChan-
J ical part of printing the bonds then
! selves. The Government is the advo-
= IS
! The Government is responsible fn.
! the successful operation OF the system.
and its bureau is custodian of the
mortgages securing the bonds f;y
/ granting taN-eXemption To these bonds
! Congress has increased their value and
! marketability. We are devotiuc the
efforts of our organization to stimulate
further interest and activity in the
! bonds among the banks and dea alers uf
| the L nit ed States -