Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-09-21
EXCHANGE HERE MORE ACTIVE:
NATIONAL UNION FIRE LEADER
Linotype, Pepco Preferred and Washington
Gas Lis int Dealt In-Largest Glass of
Institute Graduates Tomorrow.

ates Tomorrow.
Mrs. Edwards expressed keen appre
citation for such a tribute.
New Offerings Made Today.
S. w. Straus & Co. are offering ar
| issue of $925,O0O first mortgage fee
6 per cent sinking fund gold bonds
of Fifty-seventh Street Apartments
Inc, secured by the land and a Is
story apartment building just com
pleted in New York City
Public offering OF a new issue OF
s3,500,000 New Orleans Pontchartrair
| Bridge Co. first mortgage sinking FUND
per cent gold bonds is being made
today by a Nationwide banking syn
, dictate. The bonds are priced at 10(
and interest to yield per cent. are
dated September 1, 1926, and mature
September l, 1916.
The Public Service Corporation OF
New Jersey on October ! will start
| another ownership campaign for the
sale of S5,000000 6 per cent cumula
tive preferred stock. The stock will
be sold at par S100 a share and &C
crued dividends for cash or on terms
Of $40 down and. $40 a share pei
! month.
National Banks Largest Holders.
National banks are the largest hold
ers Of Government securities among
| financial institutions. According tt
figures contained in a publication. en-
titled United States Government Sc
curities," just issued by the Bankers
Trust Co. of New York, they held as
of June 80, 1925. over So, 500, 900 600
This was almost $1,500,000 more
F.; than the amount held by all State
| banks. trust companies and stock saw
! ings banks. Mutual savings banks
neld a little over $500, 900 zoo, life in
surance companies over $3.50, 1000 ,00t
! and Federal reserve banks over
| $3.50. 900 900.
The United States Government helt
In various trust funds about $3.50,
! 900, 900 of it's own securities.
Bank Loans Up $4,000, 900.
Partly as a result of the Treasury:
financial operations. the Federal Re
serve Boards weekly statement O.
condition of $50 reporting banks il
leading cities as of September Ii
shows increases of S118,0 100000 il
loans and discounts: $4,000, 900 in in
vestments; $131 900 900 in reserve bal
| ances; 1912 100000 In net demand de
| posits, and $4,000, 900 in Government
deposits.
Decreases are shown of $4,000, 00(
; in time deposits and S34.0O0,000 il
| borrowings from the Federal Reserve
banks.
Net demand deposits of reporting
member banks increased in all dis
tricts except Philadelphia and Rich
mond.
Southern's August Net.
August net operating income O.
, Southern Railway will exceed $4,000,
900. possibly by a large margin. II
/ August, 1925, net amounted to 50,
! $3.50. Last years August net wa:
the highest for any month of 1925 III
| to that time and was exceeded only
in September October and December
! Net Of S3,400,000 for August, 1926
would be higher than in any previou:
month this year the S3,166,997 ne
shown in March being the highest re
ported to date.
Gross revenue for August amounted
to $13,100,000, an increase of 1884, 648
or 1920 over the corresponding month
| of last year.
In and Out of the Banks.
A. M. Nevius, vice president of The
Riggs National Bank, has returned
| from White Sulphur Springs. w. Va.
; where he went to attend a conven
| ton of the Smokeless Coal Operators
! Association.
Elmer +. Sauter. local manager TO
Dillon, Read & Co. who has beer
! spending his vacation motoring
| through New England. has returned
! to his desk
/ Hilleary l.. Offutt. vice presiden
and cashier of the District Nationa
, Bank, is back at his desk after spend
+; ing a week enjoying life at Virginia
! Beach.
! James c. Doolin. jr., assistan
| treasurer of the American Securit.
! and Trust Co., returned yesterda,
from a two-week vacation.
| William c. Johnson, assistant to thu
| president of the Federal-Americal
National Bank, is taking three weeks
vacation. His first objective was TIL
| Blue Ridge Rod and Gun Club.
w. S. Lyons, assistant secretary o
| the Union Trust Co.. has returne,
[ from months vacation passed il
! Massachusetts.
! d. J. Kaufman, a director of tn
| Columbia Nat1Onla BANK. mas returned
| from a vacation of two months spen
| in Northwestern Canada.
| Other Financial Notes.
| Francis NJ. Savage, president of tn
! Central Savings Bank, announced tc
day that the directors of his institu
! ton will have a dinner at Common
wealth Farms next Monday evening
at $50. At the dinner Mr.. Savag
plans to discuss banking in genera
and refer to the recent progress o
! his own bank.
{ Washington bankers were mucl
pleased to learn that the steame
| Finland had arrived safely at Havana
with the delegation bound for the A
B. A. convention. They are to b
received by the President of Cub
assisted by Gen. Crowder.
/ The National Association of Mutua
Savings Banks will open it's seventh
annual convention at Philadelphia OF
October 18.
! Profit of Kresge department store
! for the six months ended July 81, wa
! s70,745 before the Federal taxes
equal to $1.99 a share on the pc
cent. Cumulative preferred, agains
$32,056, after Federal taxes, or 8
cents a share on the preferred in tn
previous corresponding period.
BALTIMORE IMPORTS.