Evening star., 1926-05-16
BANKERS FIGHTING
US. POWER MOVE
Curb on Interior Secretary
Urged-InsWance Men
Meet-LocaI Notes.
BY EDWARD c. STONE.

At the annual Spring meeting oi
the Investment Bankers Association
of America, just ended at White Sui
phur Springs, w. Va, the board o1
governors adopted two important
committee reports. one opposing Gov
ernment entry into power operations
and the other favoring a new educa
tional program.
The first report was presented by
the public service committee and
reafiirmed the associations opposition
to the United States Government
taking part in any power construc'
tion or operation and urging that the
option given the Secretary of the In
terror in the power part of the project
in the Boulder Canyon bill, now be
fore Congress- be omitted. and that
it be made mandatory that water
rights a. the proposed dam be leased
under the Federal water power act
The other report, presented by the
foreign securities and educational
committees, asserted that owing to
the growing interest of investors
throughout the United States some
medium is necessary for securing and
distributing reliable and current in
formation bearing on foreign SeCurl-
ties. The board Of governors has au-
thoriZed these committees to cooper
ate with New York University in the
establishment of an institute of in
ternational finance. For a number
OF years the foreign securities COM
mittee Of the association has stressed
the need of such a service to its
members and the investing public,
but heretofore no satisfactory plan
has been developed.
The association also voted to re-
duce the board meetings to two a.
year instead Of four, and selected
White Sulphur Springs for both con-
ventions.
Eugene E. Thompson, head of
Crane, Paris & Co, who attended the
convention as a member of several
important committees, and Paul V.
Keyser, who is counsel for the asSo-
citation, returned to Washington yes
terday. Both reported a very profit
able meeting.
Insurance Congress Success.
Washington insurance agents re-
port that the Maryland District Of
Columbia congress of life underwriters
held in Baltimore during the week
president of the Washington associa-
ton, presided. Joseph A. Mari. Of
Washington spoke on One Man Busi-
ness" and Wallace Hatch, of this city,
made an address on Educational
Insurance" Addresses also were
given by Oliver Truman. Earl G.. Man
ming. DIR. Lee *. Frankel. j. Bruce
Thompson, Bernard B. Cough, George
Fl. Harris and Charles r. Posey. The
speakers at the annual dinner were
Charles c. Gilpip of Vermont and
Dr. 90 hi NO I'm
who took for his subject, shake.
speare the Salesman"
Pamphlet Report Received.
The pamphlet report of the Lanston
Monotype Co. is being received by
local stockholders. 1t shows the
splendid progress made by the COM
pany during the past year which re.
suited in earnings equivalent to SG.14
O. share on S6 900, 900 capital stock,
compared with $4.33 a year ago. The
fact that outstanding indebtedness
has been cut down until the company
does not owe the banks a cent is
considered to be the most important
ard interesting feature of the report.
Peoples Drug Company Expands.
Opening by Peoples Drug Stores,
Inc, of another store in Washington.
ftnOQ0 ISldDQ avenue northeast, Is OF
more than ordinary interest to local
investors since the company's pre-
ferTed stock has for some time been
listed on the Washington Stock EX-
change. The concern IS expanding
rapidly. a, store was opened only a
short time ago in Alexandria and two
others have recently been started in
Frederick. Md. The last sales report
was highly satisfactory to local stock
holders. The stock closed Yesterday
with 80 bid and 1929 asked.
New Farm Loan Offering.
G. +. Childs G. Co.. will offer
tomorrow, a new issue of 81 900, 900
of per cent farm loan bonds of the
recently organized Southwest Joint
stock Land Bank of Little Rock. Ark,
of which Senator Joseph 7. Robinson
IS chairman of the board. The bonds
will be dated May /, 1926. and due
May /. 1856. redeemable May /, 1885.
They will be offered at 103 and inter
est to net 4.62 per cent to the redeem
able date and per cent thereafter.
Unlisted Securities Prices.
Following are the bid and asked
prices Of local securities in the un-
listed department of the Washington
Stock Exchange: