Evening star., 1926-10-03

ahead Of his time. II is said he Is
only one of several college professors
who have in recent years Come for
ward With many very practical and
useful suggestions In finance The
fact that he is a director in one of the
country's largest railroads-the Rock
Islands held TO prove that he is a
business man With sound Judgment.
As the argument goes on. II is In
teresting to note that several wash
ington bankers consider he Is exactly
right in his views on the cloudy man
ner in which many corporation re-
ports are presented. One of the best
known brokers' in the Capital told the
writer weeks before Prof Pipley's
last article appeared that some of
the corporation reports did not mean
anything to the investor. He did
not claim this TO be true N many
instances. but cited one or two COM
psnies to support his and the opin-
ions since expressed by the Harvard
professor.
Local and other Notes.
] e. ". Seligmsn & Co. and Baker.
Kellogg & Co. inc. announced the
issue of s2,5Oo.0oo Department Of
Caucs, Valley (Republic of Colombia)
20-year IA per cent bonds offered
by them had been oversubscribed
and the books closed
The New York Stock Exchange
has stricken from the list Chesapeake
6; Ohio Railway Co 3o-year per
cent secured gold bonds due April
/. 1915.
Checks covering the quarterly divi.
dends of s. so per share have been
forwarded to shareholders In the Fed
era l. A n1AricaO National Rank
It is now expected that the Norfolk
& Western will earn SPA per share in
1926 on the S13S.Sl2. 800 common
stock The prediction is based on
the inCreas sed earnings for the first
eight months of the present year.
The Washington Loan and Trust Co.
started the plan last evening OF keep
ing open its savings department from
& to $50.
DOings of Local Bankers.
w. J. Waller. vice president OF the
Federal-AmeriCan National Bank. IS
taking d three-week vacation. having
left the city Friday.
Assistant Cashier T.. VI. Graham
Of the National Bank OF Washington
is on an extended motor trip through
the South He is accompanied by
his wife and will be gone for about
one month.
Assistant Cashier 7. X Seyboth
of the Second National Bank has re
turned from three-week vacation.
Mrs. Maude O'Toole. wonlen's teller
at the Continental Trust Co, returned
Yesterday from a vacation trip of
three weeks in the West.
Thomas T. Groom, tres surer OF the
Washington Mocha MICS Savings Bank,
will leave Washington Tuesday to
spend a. two-week vacation at his
home in Alabama
Vice President Firman Il. Hornor
and Vice President John "A. Masste
of the McLachlen Banking Corpora
tion. are passing the week end on
their farms In Fairfax County. Va
Karl A farrell. son of President
Thomas l.. farrell of the Washington
Savings Bank. was married FRIDAY
evening at the First Reformed Church
to Miss Mary L. Shoemaker. and the
entire official staff of the bank was
present.
]. William Roberts. vice president
of the Central Savings Bank. has
received word that his automobile,
which was stolen some weeks ago,
has been recovered at Parko, Colo
How to get the mahine home is the
question now puzzling Mr.. Roberts.
Details of how 1t vas found at such
a distance from Washington VIII he
highly interesting.