Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-09-10

the committee heads outlined what
! they hope to accomplish. some of the
committees already having Il good
start. The exchange of ideas proved
highly beneficial.
l. The committee chairmen present ir-
cluded Robert V. Fleming. taxation
and Treasury relations: Victor E..
Deyber, commercial activities; Fred
erick =. Fl. Slddons. publicity; Eliot r..
! Thomson, advertising; Il. J. McQuade
I standardized banking FERNS: Eugene
f.. Thompson. fraudulent securities:
John NJ. Riordon. auditing; Francis G..
Addison. jr. law and legislation:
| Harry V. Haynes. protective: T.. p.
McLachlen, banking insurance, and
John Poole, improbable accounts
The members of the council include
the associations officers and in addi
ton to President Moran include: W.
w. Spaid and Robert V. Fleming, vice
! presidents; w. j. Waller, secretary;
Albert j. Galley. treasurer, and IlarDy
| Y. Haynes, president Farmers and
Mechanics National Bank; G. II. Pope
vice president Munsey Trust Co.
Lanier p. McLach,en, president Nc.
l-achlen Banking Corporation: John
T, NJ. Riordon, cashier Bank of Com
merce and Savings; e. ]. McQuade
vice president Liberty National Bank
and Joshua Evans. jr.. executive vice
! president District National Bank.
| Frank j. Hogan, general counsel
and Miss Grace NJ. Bromley, assistant
secretary, also attended the dinner.
New Utilities Company Formed.
The Allied Utilities Corporation has
! recently been orga nized. with head
II at hn L. DIT ,l,
| Ington, to acquire. finance and operate
| public utilities, with an authorized
capital of 81 100000 of per cent pre-
ferred stock and 5000 shares of no
par common stock. The first offering
| of 100000 of preferred stock has just
been made and it was overSubscribed
IhlS corporation already has ac
! quired the Mountain States Utilities
! Co. of West Virginia and also is now
arranging to purchase several electric
! service companies. The officers and
! stockholders of the company were
formerly officers and stockholders of
! the Interstate Utilities Corporation
which company, together with it's op
: Grating subsidiaries. has recently been
! acquired by the Southeastern Power
Il Light Co. of New York.
| The officers are Francis r. Weller
|
Livers, Charlottesville. Va, Arthur J
! May. Washington, Carleton c. Pierce
/ klngWood. w. Va. vice presidents
NJ. y. Wilberding. Washington. secre
| tary-treaSurer. and Leo. u. Harlow
washington, general counsel.
Reserve Bank Holdings Decline.
| In spite of frequently repeated ru
! mors OF forthcoming increases in re.
! discount rates, redscountS at both
| Richmond and the combined Fed
elal Reserve Banks declined substan.
| TALLY during the week ended Septem
Der 8. Rediscounts held in the fifth
! district tOtaled S45,62S. 900, against
S47,649 900 the week before. Total bill
! holdings, including bankers accept.
anceS purchased, were S57,47S, 900
! compared with S60,2O6, 900 the week
! before.
Note circulation at Richmond stood
at $75,7S5 900, against S72 $40, 900, and
member bank reserve deposits at S66.-
! $4,000, compared with S67 lat 900 the
week before. The cash ratio was un-
! changed from the previous week at
! 1897 per cent
Bills discounted in the system as a
whole declined S12 ,OS1 900 in week
| The ratio of the - hanks combined
Htt'o TO, against i1.f per cent.
Building Permits Fall OF.
| Continuation of the saggins ten.
denotes noted in the building indus,
! try in earlier months from similar
periods a year ago is shown in Brad
streets tabulatiOn of building per
! mltS for August at 1853 American
! cities. The total of S298,517.527 was
a gain Of per cent over July, but a
drop of 8.5 per cent compared with
the S326,519,445 in August, 1925.
Enough irregularities were shown.
/ compared with last year, the report
! said. to indicate that some areas,
. notably the Central West and South.
still found need of additional construc-
! ton.
; Southern Diaries Sales Gain.
! August sales of Southern Diaries
/ Inc, We're % per cent larger than in
August last year, S1.232.20l, against
, $685.
Inc trend of current industry in the
! Middle West is reflected in the output
; OF electricity by the North American
, Co. and subsidiaries for the four Woo'5.
ended September > which amounted
to 3S0.640 ,307 kilowatt hours. q gain of
! IA per cent over the same period last
Year.
, A total of so real estate bond issues
! amounting of S52,220.28O. were und&
| written in the United States during
! August. according to compilations by
| ). w. Straus & Co. Since the first
OF the year 645 issues, amounting &c
! Soob. Go4.1SO have been offered
! Jeans Transfer Directorate.
Donald Woodward. president Of the
! Woodward & Lothrop CO.. was elected
! q director of the Merchants Transfer
! < Storage Co.. at n regular meeting
! Of the board held late yesterday after.
non. Mr.. Woodward fills The vacancy
I caused by the recent death of Alex
ander Britton. At the same meeting
) the directors voted the usual quarter
: ly dividend of Si.75 payable October
| | to stockholders of record on >eptem.
Der 25. The meeting was held at the
company's office. 920 +, street north
: west.
! Bank President Back at Desk.
/ William D. Hoover. president of the
National Savings & Trust Co. return.
ed to his desk today after a siX-week
! vacation passed at the Homestead at
/ Hot Springs, Va Mr. Hoover came
back with a fine Southern tan which
reflects the amount Of golf he played
while away. He received many con
gratulations today over the golf rec
ord he hun@up on the difficult Cas-
! cades course on August 8, when he
kmade a hole in one.
| SeabOard's Fine August Showing.
! For % consecutive months. ending
/ with August, gross revenues of Sea
! board Air Line Railway have shown
gains over the corresponding months
! Of previous years. The small increase
! in gross for August over 1925 is par
ticularly impressive because of the
unusually large gross in August last
] year.
A. T. T. INCOME DROPS.