Evening star., 1926-11-10
FINANCE AND INVESTMENT CORP.
INCREASES ITS CAPITAL STOCKI
Half Million Boost Consists of $400,00O
Preferred and 100000 Common-Fed-
eral-American Go. Shares Are Active.

Traction stock came out at 103A, and
one sale was recorded in Washington
Gas 5s at 100l2.
Exchange Convention Ends.
Ralph W. Simonds, president of the
Detroit Stock Exchange. was elected
head Of the Associated Stock EX-
changes at the convention just ended
in st. Louis. w. NJ. Lauderman or
st. Louis was named vice president,
and Clark G. Wickey, Detroit. secre-
tary. The present members of the
board Of directors were reelected,
Eugene T.. Thompson of this city be-
ing one. Selection of q city for the
next meeting was left with the direc-
tors. The final address was given by
Clark G. Mickey on THE Need of
Uniform Listing Requirement for
Local Stock Exchanges"
Christmas Clubs Planned.
The advertising committee of the
District Bankers Association an
nounces that the local banks will
again pool their funds and carry on
Il special campaign for the coming
year. Members of the Christmas
clubs in Washington banks have
saved about $4,000, 900 this year, and
1t is the aim of the committee to
Increase the amount next year. The
cooperative advertising for the 1927
drive will first appear on November
20. 1t is expected that part of the
funds drawn from this years club will
be reinvested for next year.
Banking interests are awaiting an
nouncement of details of new financ
ing for the Western Power Corpor
alton, subsidiary of the North Ameri
can Co. The new issue is scheduled
for the near future and win take the
form of a $4,000, coo bond Issue which
will replace the corporations out
standing 6i2 per cent debentures. The
Offering will be made by a group head
ed by Pierce, Fair & Co., Blyth, Witte1
q Co., and f. II. Rollins & Sons.
Local Offering Well Received
Officials of the Federal
Co. report that the additional issue o.
$4,000 6 per cent preferred stOcl
is receiving u generous response from
investors, the number of subscription!
received being most gratifying. Thi!
IS the company which was organized
| last June by the officers and director:
of the F'cderal-American Bank. Th'
corporation deals in first and secon(
trust loans on real estate, builders
lOtLIlof liIouI GtIIte eillI OllIcL SpcI1d
! financing.
Banker Heads Pension Drive.
John B. Iarner, president of th'
| Washington Loan & Trust Co. is jus
now one Of the busiest bankers in tn
! Capital. AS chairman of the eXecu
! tive committee raising S135 900 a.
WashingtOn's quota in the Presbyter
| ian Church's pension fund drive II
Ia Np jysn6 NH 1jStn n n q
! finds every minute taken. More thar
! SO. 900 has already been raised here
although the campaign has hardl.
| started.
McQuade to Address Students.
Edward ]. McQuade, vice presiden
| of the Liberty National Bank anC
president of the Washington Chapter
| Alumni. A. I. b., will lecture on the
! Federal Reserve System" before the
class in banking fundamentals of the
chapter on December Q. Mr.. McQuads
! is looked upon as an authority on thi:
| subject. The class is regularly con
Quoted by Eliot II. Thomson.
Heard i'm Financial District.
The Richmond Federal Reserve dis
! trict reported loans on stocks anC
| bonds, including United States Gov
ernment obligations, last week, Of So,
! 100000. The total loans for the coun
/ try were 81? 100000 above the pre-
vious week.
I T. Hunton Leith announces meet
! ing tonight of the board of governor
j of the local institute chapter. Settling
. where and when the annual theate
! party will be held and making othe
| arrangements for it will feature TIL
| meeting.
! The Interstate Commerce Commits
! sion has granted the Southern Rail
, way the right to issue Of 10,000 ,00
of common capital stock to be solo
| at not less than par.
! The NIcCrory Stores Corporation ha
! declared quarterly dividends of a
| cents in cash on its common A and
! stocks, payable December 1.
! Gross sales Of Southern Diaries, Inc.
! for October were s926,2sS, compared
with $717,s41 for October, 1925, an in
| crease Of % per cent