Evening star., 1925-09-24
DEYBER SUMMONS
SPECIAL MEETING
Advisory Council of Richmond
Reserve Bank to Meet
at Atlantic City.
BY CHAS. p. SHAEFFER.


The stockholders advisory commit
tee Of the fifth Federal reserve dis
trict. created at conference with the
Richmond Federal Reserve Bank last
April, promises to bear it's first fruit
at the forthcoming annual convention
Of the American Bankers Association,
which gets under way at Atlantic City
next Monday.
Victor B. Deyber. president of the
Second National Bank Of this city,
who Is chairman of the committee
has called a meeting of its various
members Ia majority of whom have
indicated they will attend the annual
conclave) TO meet at Haddon Hall
September %. at pm.
The arranged conference is in line
with suggestions of the Federal Re
serve Bank of Richmond. that repre-
sentative members of the Federal re-
serve system act in an advisory ca
pacity to the RichmOn"
understanding between those IN
charge at Richmond and stockholding
member banks may result
While no mode of procedure has as
yet been mapped out, it is understood
that Mr. Deyber will take counsel
with his committeeman present, in
Vite suggestions, give detailed discus
sions to any proposition offered and
undoubtedly adopt a definite itinerary
for future meetings.
The stockholders advisory commit
tee is comprised of two members from
each State in the fifth Federal Reserve
district and two from the District Of
Columbia. Serving with Mr.. Deyber
from this territory is John Poole,
president of the Federal Ma
tional Bank
Hartman Contract Let.
Hartman & Co. have just closed
negotiations with the firm if Swart-
zell, Hheem & Hensey by which the
latter firm is to tear down the Walker
Building. at 729 Fifteenth street, and
erect thereon building not to exceed
ten stnries. to be called the Security
Building.
This is to be a most attractive and
expensive structure of white limestone
or white terra Gotta. enveloping an
| area 25 feet in width and 135 feet In
| depth. Hartman & Co. occupy the
| first floor. with Redmond & Co. oc-
cupying the second. Present plans
call for complete floor TO each tenant.
Rate Change Discussed.
Possibility of a change in the New
York Federal Reserve rediscount rate
| Is again receiving widespread specula-
tive attention in the Wall street dis
trict. Although the recent stiffening
of money and acceptance rates, the
expanding commercial demand for
funds and the increase in securities
| holdings by banks would seem to pro-
vide basis for an increase in rate,
1t is felt in many quarters that no
| change will be authorized by the gov
ernors at their meeting today because
of the delicacy OF the French debt
| negotiations now in progress.
Heads Bankers Committee.
| Corcoran Thorn, vice president of
| the American Security and Trust Co.
| today accepted the Craftsmanship o.
| the committee on law and legislation
| of the District Bankers Association
! The appointment is vested in a banker
| thoroughly qualified in every phase o.
modern banking, with the ability 70
disseminate, almost at a glance, enact
| ments that would be detrimental 10
| the local fraternity, and vice versa.
Serving with Mr.. Thorn on this
committee are Joshua Evans. jr.; Ezr;.
Gould. John B. Larner, H. II. Mckee.
Maurice Otterback, w. W. Spaid
George o. Watson and George ".
White With this appointment. Pres
dent Addison's standing committees
are completed.
Railway Common Steady.
Today's session on the Washington
Stock Exchange was comparatively
quiet. with ma jor attention centering
on common stock of the Washington
Railway and Electric Co. This issue
netted no change on the day, an ad-
vance of half point to 164 on sales OF
90 shares being discounted by subse
quent sales at f63H, the days opening
and also It's closing figure. Ten shares
of Railway preferred sold at S6L4 like
wise unchanged.
Riggs National Bank stock held its
| high level, 40, on sales of 10 shares,
, while Lanston was firm at 50. on
sales of 25 shares. National Mortgage
and Investment. preferred. brought
9ls and $500 Washington Gas 5s, the
only active bonds. brought 99i3.
Southern's Earnings Grow.
Upward revision of estimates of the
1925 earnings of Southern Railway
are coming from interest close TO the
management in view of recent i'm
provement in traffic. it being now eX-
pected that moro than S14 share will
be shown on the $40 900 900 common
stock, and SIS a share including in
come from subsidiaries. Surplus for
1924 was equal to 1920 share and
subsidiary income added SO more.
Two Dividends Voted.
| Directors of the Security Savings
and Commercial Bank have declared
/ the regular quarterly dividend of 8
per cent and an extra disbursement
of per cent. payable on September
80 to stockholders of record Septem-
ber o5