Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
COMMITTEE NAMED
FOR INSTITUTE
Fall Educational Plans to Be
PuShed--CIearings Hold
Up-FaiIureS Grow.
by EDWARD c. STONE.


the educational work in September by
Washington Chapter. American In
stitute of Banking. T. Hunton Leith
the president, has appointed the fol
lowing committee:
I. ]. Roberts. Riggs National Bank,
chairman; A. L. Henze, W. b. Hibbs &
Co., vice chairman; Miss S. NJ. Bur
we'll National Metropolitan Bank
secretary, and Francis O. Addison,
Security Savings and Commercial
Bank; Miss Grace Bromley, Herold
w. Burnside, Farmers and Mechan-
les National Bank; II. Jesse CLANCY,
Commercial National Bank: Miss
Dorothy V. Colburn, Washington
Loan and Trust Co; II. II. Darnielle.
National Metropolitan Bank; James
G.. Dulin, jr., American Security and
Trust Co.; Robert T. Highfield, Mount
Vernon Savings Bank; Edward ]. Nc
QUAD. Liberty National Bank; Elmer
O'Hara, Seventh Street Savings Bank:
Walter l.. Sanderson, Federal-Amer-
lean National Bank; Audley A. =
Savage, National Savings and Trust
Co; James A. Sopher, Lincoln Ma
tional Bank, and Miss Alice II. Whit
ton, First National Bank of Alexan-
drjs, Va
II Is TOO early 10 state WHO VIII COIL
stitute the Institute faculty this year.
although some changes are probable.
Several instructors who have shown
exceptional interest in helping the
young bankers will be urged to serve
another year.
Bank CIeariigs Holding Up.
The volume of bank clearings con
tinueS to be well maintained, leading
cities of the United States reporting
an aggregate of $7,794, 739 900 to Dun's
Review this week. This is only 0.2 per
cent less than the amount for year
ago, the decrease being accounted for
by the smaller total at New York City
With clearings of S4,554 100000 that
center shows a reduction Of 3.3 per
cent, whereas the outside cities. with
an aggregate of $3.240. 49,, 900, disclose
gain of 4.3 per cent The largest
are at Boston. Cincinnati. Kansas City.
San Francisco. Los Angeles, Portland
Greg, and Seattle.
Hardening of Rates Seen.
Moody's Weekly Review of finan-
cial conditions says in part:
The French situation has improved
and our stock market shows a tend
ency to rally. Marketwise, however.
it may prove significant that share
prices are now sensitive to bad news
I'm the money market all signs still
point to a gradual hardening of rates
Loans are generally expanding faster
than deposits and time money is al
ready becoming firmer. However, the
real work of financing the Autumn
trade does not begin until September"
Swift Company Paid $500, 900.
Payment of approximately $500 600
has been made by the British govern
ment to Swift & Company in settle
ment for bacon seized when the min
istry Of food reassumed control of
food supplies in Great Britain a.
Stewart Brant. local representative,
reports.
After the close of the war. when
the food supplies We're requisitioned.
Swift & Company had large quantities
of bacon and lard in Great Britain.
This was taken over by the govern
ment and additional supplies on the
high seas We're taken over as they
arrived. The packing company
brought suit in British courts for pay
ment for the supplies and was award
ed a verdict of about 100000. The
latest payment is for the balance of
the goods.
North American Plant Done.
The latest of the North American
Systems great power plants will be
placed in operation at Avon. Ohio,
next Wednesday when the first unit
of the 10000 horsepower initials ca
pacity of the Avon station of the
Cleveland Electric Illuminating Co, a
North American subsidiary. will he
dedicated with Charles F. Brush, the
T7-year-old inventor of the electric arc
lamp, opening the throttle of the gen
orator.
The Avon plant. which will even
tually have a capacity of 400, 900 horse
power. representing an investment Of
over $50 900 900. is located % miles
west of Cleveland. on Lake Erie.
Financial News in Brief.
Although they matured several
years ago there are still outstanding
S29 900 in Victory 32l per cent notes
and S4,443 900 in Victory 4& per cent
notes. United States Treasury notes
on which interest has ceased total
1850, 300 and certificates of indebt-
edness S1.9O3,000.
A. z. Fitkin & Co. and Stroud & Co,
Inc, announce that the new issue of
81 500. 900 Virginia Public Service Co.
Z per cent series cumulative preferred
stock, offered Thursday. has been
oversubscribed.
The number of failures in the
United States increased this week to
397. from 359 last week. A year ago,
according to reports, $50 defaults &C.
Cured.