Evening star., 1926-03-12
|BANK KCONVENT|ON
| PLANS ARE BEGUN
Trading on Local Exchange
QuIet-iFederaI Issue
OverSubScribed.

OverSubScribed.
BY EDWARD c. STONE.
iahS Tor the coming annual con-
'ehtlon OF the District Bankers AS
aoclatlon were made when w. w.
0palo OF W. b. Hibbs & Co., chairman
Oh the general convention committee,
gave dinner last evening to
group OF local bankers. appointed
chairmen 70" the important subconl-
fnlttees and outlined some of the
thlhgS he has in mind to make the
ahhual meeting a complete success.
Inc following subcommittee chair
men were named: Lanier y. McLach-
len, president McLacllen Banking Cor
poration, program; Edward J. Ne
euade, VICE president Liberty National
banK. entertainment; John NJ Rior-
uon, CASHIER Bank of Commerce and
savings. hotels: Hilleary G. Hoskin-
son. vice president Riggs National.
transportation; Frederick =. II. Sid
IONS, secretary American Security and
trust Co, publicity and press: Charles
ton Loan and Trust Co, sports, and
t0iIoWinS the prevailing custom that
tne wife of the president of the Dis.
trlct Bankers Association be chair
man OF the ladies' committee. Mrs.
francis q. Addison, jr, will direct
that subcommittee.
Mr. Spaid announced today that he
.htendS TO call the general convention
committee together within a week.
When 1t is probable that the date OF
me convention and the place of meet
| ing Will be settled. Last year the Gov
VentIon met at Hot Springs, Va, and
1t is likely that the same place will
| be chosen this year. The convention
VIII take place about the middle o?
| June, and an effort is to be made To
make the attendance even larger
| than last year.
Local Securities Quiet.
Trading was not what could lie
termed wild on the Washington Stock
| Exchange today, there being little eX-
citement around THE trading posts
| in the demand for stocks and bonds
| In the bond division Capital Traction
5s sold at 100 on two sales. Washing
| ton Gas 6S came out on the first sale
at 1892, but dropped off later TO lO@.
| the close being quarter point under
| yesterdays market.
| On the stock side of the list Poto-
| mac Electric Power preferred sold 10
| the extent of five shares at 107, un-
| changed from yesterdays transac-
| tions. Five shares of District Nation
| al Bank stock changed hands at 205,
| while Mergenthaler Linotype changed
| hands on two different sales at 20S.
Stock. of the Capital Traction Co.
| figured i'm one sale of 20 shares at 113.
| unchanged from yesterdays purchase
of the same number Of shares.
! Bank Celebrates Anniversary.
| Officers Of the Liberty National
Bank. located at Fifteenth and
! streets northwest. were receiving CON
| gratulations today on the celebration
of the present banks sixth anniver-
| sary. The original bank was a saw
l ings institution, located at 14lO New
| York avenue. This was nationaliZed
| and what is today the Liberty Ma.
| tional Bank was opened on March H.
| 1920. The bank built the attractive
! home in which it now is situated
| While one of the younger banks in
| the city, it's growth has been most
| gratifying to the officers and directors
| deposits having increased from $3.50
! 10S on March l. 1920, to $3,3S5,SS3
| on March II, 1926.
LibertyS present official family in.
| cludes George o. Watson. president:
f.. j. McQuade, vice president: NJ. r.
Calnan. cashier, and j. b. Skinner.
4 assistant cashier. Thomas +. Little.
page is general counsel.
Loan Far Oversubscribed.
1t was announced at the Treasury
Department today that the oversub.
Scription of the Government March
offering of $500 900 900 9O.30-vear
bonds at 3ai C. probably will reach
S100. 600 900. Bids for the bonds have
been received from all parts of the
country. The Treasury's offer TO pur
chase the third Liberty loan bonds di
rect from holders for retirement on
March Is has also been accorded a
| satisfactory response.
Secretary Mellon announced the
$500 900 600 bond issue only last Mon.
| day. the interest rate being the lowest
| proposed on any Government issue
/ since before the war, with the eXCep-
ton of the first Liberty issue. which
was wholly exempt from taxation
! Despite the oversubscription, the
| Treasury plans to keep the allotment
close to the $500,000. 900 figure. which
is expected to be sufficient, with the
quarterly tax payments. to retire
S120,000,000 in third Liberty bonds and
$615, 600, 900 in Short-term securities
maturing March Is.
TEL and Tel. Income Jumps.
According to a report from New
| York today, the January operating in
! come of the American Telephone and
! Telegraph Co. rose to S3,671.612. COM
pared with January last year Gross
revenues for the month were S7.SSS.
667, against $6.S35,347 for the same
period a year ago.
The recent annual report of this
company showed remarkable growth
in the number of stockholders In 1900
there were 1885 shareholders. To-day
there are more than 1868 900. which,
is an increase of nearly 1900 in one
year. Average number of shares held
today is % compared with 76 u quarter
of century ago. More than 81 900
employees are registered shareholders
and more than 10000 workers are
paying for the stock under an install
ment plan of So monthly and will
eventually own 62t 900 shares.
For A years the company and it's
predecessor have paid dividends of
not less than $3.50 annually.
COrby on LanstOn. Board.
Karl w. Corby has been elected 20
the board of directors of the Lans-
ton Monotype Co., to fill the vacancy
on tIle uiteCtoidte- NduSCu NY ttie Oesiln
of his father, Charles I. Corby. ac-
corGing to j. Thilman Kendrick. chair
man of the board, who has Just re-
turned from Philadelphia. where the
meeting was held. Only few DAYS
iago MIR. Corby was elected to the di
rectorate of the Riggs National Bank,
where he was also chosen to fill the
place left vacant by the death of his
father.
Mr.. Kendrick states that the annual
meeting of the I-anston Monotype Co.