Evening star., 1925-09-16
DISTRICT BANKING
NOTAb[ES TO MEET
Committee Heads to Thresh
Out Problems With Coun-
Gil at Dinner.
BY CHAS. p. SHAEFFER.

BY CHAS. p. SHAEFFER.
Heads of the various standing
committees of the District Bankers
Association. recenptly appointed, will
be called together with the council
of administra ton of the fraternity by
Francis G. Addison, jr., president Of
the association, at a dinner which
Mr.. Addison will tender at the
Racquet Club on September 25 at
$50 pm.
The purpose of the dinner is 10
acquaint the council with the specific
problems each committeeman is con-
fronted with, and formulate a con-
crete program which will be sub
mitted for approval to the entire
bankers association at the next reg
ular meeting, scheduled to be held
the third Monday in October.
Program Broad i'm Scope.
Contemplated program for 1925-25
covers scope wider than heretofore
attempted. In order that success
may attend its efforts Mr. Addison is
taking counsel from those best quail
ified to advise on individual prob
lens, although the council of admin
istration is endowed with constitu-
tional rights to act in any matter a.
il sees fit
A feature of the forthcoming meet
ing, it is understood. will be the pres
entatlon OF ways and means by W J.
Waller, who heads the improbable
business committee, of bringing before
each and every bank a tactful method
OF eliminating bank accounts that
either do not pay or represent an ac-
tuai monetary loss in carrying. As
this Is a question Of considerable mo
ment to every institution in town. Mr..
Walters promised discourse on the
subject is awaited with great interest.
i. C. c. Grants c. & o. Plea.
The Chesapeake and Ohio Railroad
was authorized by the Interstate Com
merce Commission today to take over
the 10-mile trackage of the Coal River
and Eastern Railroad, running from
Seth to Premier, W. Va, for a cash
consideration of $4,000. The alb
| sorbed line was organized by interests
affiliated with the Brotherhood of Lo
comotive Engineers to provide trans
portation for brotherhood coal mining
operations.
The commission denied a plea to al
| low the Coal River and Eastern TO
operate independently.
Money Market Unruffied.
The calm surface Of the money
market was not even mildly disturbed
yesterday when a relatively heavy
turnover of almost a billion dollars
was effected. The funds represented
United States Treasury disbursements
of 10000, 900. receipts from the re
cent $3.50, 1000, 900 offering of certifi-
Gates, and income tax payments OF
several hundred millions. The oper-
atoms were so evenly balanced that
no strain was encountered in the
handling of call loans. the rates for
which declined during the day.
Disbursements by the Treasury in
cluded $3.50 900, 900 for maturing GER
tificates, and s100,000,000 in interest
on Government bonds.
Insurance Records Smashed.
About $3.50, 200, 900 of new life insur-
ance was written in August by As COM
panies, who have in force about 81 per
cent of the total outstanding insurance
of all United States legal reserve com
panies. This figure broke all previous
August records. and, with the excep-
ton of December, 1928; December.
1924, and May this year, was the high
est ever recorded for any month. The
August total marked an increase of
$3.50 900 900 over August last year.
and was more than double the amount
wlstten in August. 1921.
Classified, the increase in ordinary
life insurance written last month, COM
pared with the same month last year,
was 2s.4 per cent; industrial, 27.9 per
cent, and group, 452 per cent.
Washington Stocks Lively.
A buying wave of miniature though
bullish proportions visited the Wash
ington Stock Exchange this morning,
resulting in a sharp upturn.
Riggs National Bank stock benefited
most, recording a net gain of 10 points
/ TO 400. the highest figure quoted since
the capital increase a few years ago.
Opening at 395 on a sale of 10 shares,
| the issue climbed a point on the fol-
lowing sale of similar size and then
! jumped to it's peak on sales of 80
| shares.
Railway common, which has been
quiet for several days, advanced 2
points to $50 on sales of so shares,
and Railway preferred also strength
ened to S612 on sales of 113 shares.
Traction stock was strong at 99is
/ with selling confined to odd lots, and
Mergenthaler rose to 1856 on trans
Sctions involving 81 shares. Gas was
steady and strong at 631a. as was
| Lanston at S4A on selling involving
lou SndTSS.
Bonds were quiet and unchanged,
Car Loadings Decline.
Loadings of freight cars for the
week ended September were 21. .490
cars less than the record of 1924, ,436
cars established in the preceding
| week. the American Railway Associa-
ton announced today.
The decrease was laid to a falling
off in the loading of coal, grain and
grain products, forest products and
ore. although miscellaneous freight.
merchandise and less than carload lot
freight, coke and live stock registered
increases.
Although this was the eighth con-
secutive week that loadings have eX-
ceeded the million-car mark, the asso-
citation said, present heavy traffic is
being moved virtually without car or
locomotive shortage. The total for
the week was shown to have been
1S1 ,643 higher than for the same week
last year.
Coal loadings were placed at 1928
cars. a decrease of S3.465 under the