Evening star., 1926-10-10
NEW CONVENTION
OPENS THIS WEEK
investment Bankers Of for Que.
bec-Christmas Club Drive.
21 Failures.
BY EDWARD c. STONE.

eTdl nunOfeQ OtnofS are now Journey
Ing to Quebec for the annual gathering
of the Investment Bankers Associa-
ton which opens there tomorrow.
Washington is sending two represent.
atives, Eugene E. Tompson. head Of
Crane, Paris & Co., and Paul v.
keyser the organizations legal coun.
sci. Delegates from New York, Phil.
hdelphia, Baltimore, Richmond and
points South will number $50. Special
trains are also en- route from New Or
leans, st. Louis, Chicago, Detroit and
Boston so the large investment houses
or the country will be unusually we'll
represented. Bond, industrial, and pub
llc utility problems have a leading
nlace on the program.
Saturday Market Active.
Saturdays session on the local ex-
change was fairly active with prices
winding up the week strong. Capital
Traction opened at 104 and closed at
104 Is. Sixty shares of Washington Gas
Light sold at 70M and a single share
of Lanston Mono:vpe brought 92. Two
BANK stocks appeared on the board,
IL shares of District National selling
at 2a3 and IL shares Of Federal.Ameri.
ran going at 80. Merchants Transfer
& Storage preferred came out at 100h,
while two transactions in Washington
Railway and Electric preferred were
recorded at 90A. On the bond side
103 and Washington Gas 5s brought
l0l. 1t is interesting to note in the un-
listed department that Chapin-Sacks
per cent preferred stock recorded a
change in the asked price from 104
TO no. the latest bid on Miller Train
Control was with asked, the bid
on Munsey Trust was reduced from
ington Base Ball stock was 60, with
30 asked.
Christmas Club Plans Started.
Eliot H. Thomson, chairman of the
advertising committee Of the District
Bankers Association, has taken steps
to bring to the attention of the men,
her banks the. cooperative advertising
of Christmas savings clubs, which has
been so successfully handled during
the past two years. Last year and the
year before the local banks having
Christmas savings clubs joined 100 per
cent in this form of advertising. The
results in getting new accounts and in
cutting expenses in advertising the
Christmas idea were so pleasing that
the same plan will be carried out again
this year. Mr.. Thomson reveals how
the Christmas savings campaign has
grown by giving the following figures:
Total savings invested in 1924, 49,.
001,473. and number of Christmas club
depositors, 1885; savings in 1925. S4.-
447,741 in 66.279 accounts, and esti.
mated savings in 1926, $5,544.s67 in
12,l28 accounts.
The rapid increase in the past three
years has led Mr.. Thomson to suggest
that 1t may be possible to increase the
local Christmas savings to $1,000, 900
in 1927 and the number of depositors
to $4,000
Failures in Capital Increase.
There were 21 commercial failures
in Washington during the third quar-.
ter, according to Dun's report, which
involved liabilities of $421.S41. In the
same period In 1925 there were IA de.
faults and II in 1924.
Numbering 424. with liabilities Of
$6,943, SIS. commercial failures In the
South Atlantic section for the third
quarter of this year compare with 479,
involving $10,11O,793 of Indebtedness
for the corresponding period Of 1925.
The number Of defaults for Virginia is
the same for both years. while de-
CreaSeS occurred in Delaware, West
Virginia, North Carolina. South Caro-.
lima and Georgia. On the other hand
the number in Florida increased sharp
ly, and the totals for Maryland and
District of Columbia rose moderately
AS to the liabilities, the amounts de-
creased in Virginia, West Virginia.
North Carolina, South Carolina and
Georgia. but increased in Maryland.
Delaware, District of Columbia and
Florida, notably in the latter State.
Women Avoid Loan Departments.
1t was brought out at the annual
% tot fNv1 Nf ~
can Bank Women that woman bank
employees so far as possible avoid
working In loan departments. Very
few women gravitate toward loans as
a speciality, because loans and credit
and financing of business are foreign
to the experience of the average WON.
an. one of the speakers asserted.
At this same session, Mrs. L. B.
Krouth. president Of the Sharon State
Bank, Sharon, Okla, spoke on laws
covering women's rights in various
States. and said that while some
States have laws which aid women in
handling their financial affairs. others
have statutes which impede. She
made a plea for equality for women
in the framing of new laws. and the
amendment of old laws which are
negative to women's business rights.
Institute to Have Party.
The wOmenS committee OF the local
banking institute announces that the
first informal social OF the season will
take the form of a Halloween party,
TO be held on October 80. 1t Is in
tended TO be novel affair in many
ways, and those in charge include
Miss Catherine Krieg, Riggs National
Bank. chairman; Miss Rose Royce,
Washington Loan and Trust Co.. vice
chairman; Miss Mary Craven. District
National, trea surer: Miss Esther I4au,
Riggs National. secretary: Mrs Judith
Fishburn. Commercial National Miss
Ellen Crawford, American Security
and Trust. and Miss Frances Orrison,
Federal American.
Housing Loans Made Here.
Loans totaling $127.75O. sufficient to
provide housing accommodations for
% families in Washington and sub
urbs. have been authorized by the
Metropolitan Life Insurance Co. real
estate committee. The loans were
placed through the Potomac Savings
Bank.
FOREIGN EXCHANGE.
NEW YORK. October 9 OP.-For-
l.