Evening star., 1926-05-07
PLANS
ARE PROGRESSING
Bankers Sending in AppIICa-
tionS for Reservations
Rapidly Now.
BY EDWARD C. STONE.

eTal chairman, w. w. Spatd, held
special meeting YESTERDAY a head
quarters. in Masonic Temple. II Is
now confidently expected that the A.
tendance Will he considerably larger
than last wear
Tine transportation committee. of
which II. g. HoskinSon is chairman.
reported that reservations are coming
in so rapidly that the committee
placed an order for another Pullman
The committee also stressed the 70
quirement that cheeks must accom-
pany the applications. The sooner the
requests for accommodations are pUr
in the easier will he the work OF the
committee in making reservations.
The entertainment committee. head
ed by f.. j. McQuade reported thai
special entertainment features are 20
he provided on the first evening Of the
convention. AT previous meetings nf
the Kind there has been no specisl
provision for Thursday evening on
joyment. The program committee. un-
der Lanier r. McLachleH. * nearly
ready to announce the special speak
ers. The sports committee. Charles
II. Doing. jr.. chairman. proposes -
offer additional prizes this year In or
der TO make competition more keen
and interesting.
Members of the women's commit
-
son. ir. and Mrs. Howard Moran.
are talking about a special tennis
tourna ment and the usual card
parties Chairman F. r. IT. Siddons
reported that the press was accord
ing the publicity committee most
generous support. John NJ. Riordon
chairman of the hotel committee. fs
anxious to get 10 work. but saws
he can't do much until he knows Just
how many rooms will be required.
Local Securities Strong.
Securities on the Washington Stock
Exchange were strong again TO-DAY.
Potomac Electric Power preferred
opened n 1912 and closed a quarter
of a point higher Washington Rail
way and Electric common sold 10 the
extent of five shares AT $50. Five
shares Of National Security and Trus'
Co. stock changed hands at 497 ?, this
being the only bank issue To appear IN
the trading. Columbia Title Insurance
Co. again sold AZ g. while 40 shares
of Merchants Transfer and Storage
preferred went Al par.
There was also A turnover of s"
shares of Lanston MonOtype Al S5i2
he same prices which prevailed yeS-
terday as well as Just previous 10 tho
annual meeting. Mergenthaler Limo
type showed a drop from last weeks
high of 10 a l0-share lot changing
hands at l06. Trading in the bond d
vision opened With the sale Of Wash
ington Railway and Electric general
and refunding 6s at 103 The only
other sales we're in Washington Gas
| 6s. which opened at 103ia and droppAd
| to 1924 on two sales involving goo
each.
ficfr E.f,r
AT meeting Of the advisory coun
Gil of the District Bankers Associa
tion yesterday IT was voted To call
a special meeting of the organiza-
ton ON May e1 in the new quarters
on F street 10 act upon the report
0f the advertising committee The
report deals with the general cam
paiGn the association is carrying on
| to show the public more clearly tho
| service the banks render and FURNISH
| facts on the methods Of operation
and the costs of such service
Bankers Home From Convention.
John b. Larner. president of the
| Washington Loan and Trust Co:
| George o. Watson. president Of ths
! Liberty National Bank. Joshua
| Evans. jr.. executive vice president
| Mountjoy, local representative of the
! American Bankers Association. have
! returned from the Spring meeting
! of the various committees at Fine
| hurst, \. &. They report a most
| profitable session. All the business
| that was expected 10 he taken up
| was disposed of with the exCep-
| tion of the matter of installment hU,--
| ing. The committee studying th.A
! important subject had not completed
! its investigation far enough 10 pre-
sent complete findings. 1t is prob
| able that some statement on this
| subject will he made before the gen
/ eral convention Convenes next Fan
| Many New York bankers and sev-
| eral from Chicago stopped off in
| Washington today to visit the Na
tional Capital. The Pinehurst meeting
ended late yesterday.
Reserve Discounts on Upgrade.
| Rediscount opera tions At both Rich
mond and all - Federal Reserve
| Banks increased during the week end
| ed May ). Bills discounted ~ the
| Richmond bank were 50, 100000 higher
| than the previous week. tOtaling So
| 224.OOO. For the system as = whole
| rediscounts increased $50 51S 600
! The ratio of cash reserves - note
| and deposit liabilities a Richmond
was GIL per cent and was hut
slightly changed from the preceding
| week when the ratio was 6i.95 per
cent For the reserve system as
whole the ratio stood at 74.5. against
| 75.7 per cent.
Federal reserve notes in circulation
at the Richmond bank increased Sl9S.-
600 to S12 SAL 900. while member hank
deposits aggregated $67 AS, 900. gain
of 81 .625,000 in a week.
North American May Expand.
St. Louis dispatches report that the
North American Co. is negotiating for
control of the Illinois Light and
Power Co This company owns eleC
trio light gas and street car power
plants in Illinois. Iowa and Kansas.
The entire common stock Of Illinois
Power and Light is owned by Illinois
Traction Co of which United States
Senator W. B. Mckinley of Illinois IS
president The book value of the com
panv's property is S140 600 600 and its
annual revenue about $2S,O00 600.
Pennsy Workers Buy Stock.
Employees Of the Pennsylvania Eau
road during April purchased 661 addi
tional shares of stock bringing their
total holdings on May To 92.l%9
shares. Purchased in previous months
of this year were: March. 922, Feb
rIIary. 613 and January. 1852. making
a total OF the first -four months of
1884 shares. There were 80 new sub
scribers during April. bringing INC
total on May to 1922. The average
purchase last month amounted To ~
shares.
Southern Diaries Inc. reports sales
of S2948,206 for the four months Of
1925, a gain of s972 ,291 over the same
period last year. April sales in
creased 1927. 7.055 over April, 1925. ar
proximately so per cent.