Evening star., 1926-10-11
CHEVY CHASE CLU LUB BOND ISSUE
IS LISTED ON LOCAL EXCHANGE
Lanston Monotype Leader on Washington
Board Today-Unusually Quiet Ses-
sion-Markets Close Tomorrow.

Washington Gas 6s, priced at 1929.
1t was announced that the exchange
will be closed tomorrow because of
Columbus day. AS Wall Street OBJ
serves the day as holiday, the local
broker offices will have no ticker serv-
ice and will be closed. The Washing
ton banks, however, will be open as
usual.
Liberty Bonds Discussed.
Recent activity in Liberty bonds
has given rise to a question among
bankers as to what the Treasury De-
partment will do in regard to approx
mately $4,000. 900, 900 of United States
Second Liberty Loan 4As now out
standing These bonds are callable on
and after November Is, 1927. Their
maturity date is November Is, 1912.
AS a result, the issue presents gilt.
edge long-term investment with, at
the same time, the speculative feature
of an early retirement.
In final analysis. according to a
bulletin issued by the First National
Corporation of Boston, should Second
Liberty ANS be called for payment on
their earliest possible date, November
IS, 1927 they provide a Short-term
investment at a better yield than any
other Short-term Government issue.
and, every day that they continue
to run subsequent to November l5.
1927 (not having been called, the full
yield of 4.25 per cent then, is much
higher than any other Government
issue either of short or long maturity
Gas Officials at Convention.
Representatives of the Washington
Gas Light Co, headed by President
Ord Preston, left today for Atlantic
City where they will attend the meet
ings of the American Gas Association
Others in the party were James S.
McIlhenny, engineer; George NJ. Whit
we'll, assistant secretary; a. Gray
Dawson, second assistant treasurer;
Mrs. NJ. II. Hoar. T. E. Hopper. w.
II. Gill. ID. ID. Ransdell, j. r. Dean,
T. H. Entwisle, w. e. Baker and j.
r. Mcqueen.
Recent opening of the Washington
public schools has caused consider
alton Of the school savings plan for
the coming year. 1t is expected that
the usual efforts will be made to teach
the children thrift even if they are too
young to start on the oft-mentioned
road to independence. In his report
for last year. r. G.. Kimball said that
the degree of success attained varied
widely. Some results We're discourag-
ing, others fair apd some eminently
gratifying. Some of the schools In
less favored neighborhoods were
we'll to the front. He said that active
teacher interest was vital factor in
the results. this enthusiasm giving the
pupils many new ideas of thrift.
Hard Fight Predicted.
Washington bankers predict a hard
fight i'll Congress over the McFadden
banking bill when it comes up at the
next session. The vote on the bill at
the bankers convention was far from
decisive IL II. Mckee, president of
the National Capital Bank, urged
dropping of the Hull amendments In
order to prevent another deadlock in
Congress. The national banks are up
against IL stonewall and are entitled to
relief, he told the convention. Right
after the bankers indorsed the meas
ure without the Hull amendments. f.
". Baty secretary of the Committee
of One Hundred, which favors the
Hull amendments, said the struggle
would be taken to Washington and the
figure pushed to a finish.
Other Financial Notes.
The Federal Reserve Bulletin issued
for October, states that during the
present autumn the demand for bank
credit is influenced by the fact that
prices for leading farm crops are lower
than a year ago and that total yields
for most leading crops except wheat
are expected to be smaller than last
year. Commercial stocks Of some i'm
portant farm products, however, car
ried over from last season and con-
tinuing to require financing are larger
than at this time a year ago.
The North American Co. announces
that the Big Meadows Dam on the
Feather River i'll California will be
completed in December, which will in
crease the systems storage capacity
in Lake Alamanor from 100000 to
! 100000 acre feet. making this the
largest water power reservoir in the
world.
Sales of the 10 leading chain stores
for the nine months period ended
September 80. 1926, aggregated
$394, ,533635. This total established a
new high record for any similar period
in the history of the country. The
total compared with $347 7,525,7S2 re-
ported in the same period in 1925.