Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-07-09
BANKING STUDENTS
OFF FOR DETROIT
Strong Program Arranged for
Institute-23 in Local
DeIegation-NoteS.
BY EDWARD c. STONE.

nUdI convention OF tne AlHellCd III
stitute of Banking which opens next
week in Detroit. Twenty three mem
bers of the local chapter leave the
city at $50 tonight aboard a spe-
cial Pullman for Pittsburgh, where
they will remain over Sunday as
guests of the Smoky City Chapter
AS previously noted, Henry ii. NC
Kee, president of the National Capt.
tai Bank, is to give his splendid ad-
dress on the McFadden banking law.
and +. p. II. Siddons, secretary OF
the American Security & Trust Co.
is Alison on the program.
Those who will represent Wasnlng-
ton chapter are: II. w. Burnside. MISS
S. w. Burwell, Miss Loretta Ennis
A. T.: Henze, John keener' n: r.
Kimball, Leo J. Moran, 5. ). OgilVle'
Frank NJ. Perley, Ross r. Pollock
William T.. Schooley. A. w. sherman
Frederick z. II. Siddons. I. Hunton
Leith. J. S. Ramsburgh, I. J. Roberts
NTies Mabel v. Royce, w. l.. Sander
son. NJ. r. Showalter, James A. Soper.
T.. c. Steffe, Miss LOIS mite anu
Joseph d. Yerkes.
+ T. Roberts, president OF the local
cha nter. will head the delegation. and
r. Hunton Leith. who retired from
office q few weeks ago, Will be nrst
assistant Mr.. Leith attended last
Years convention at Dallas ana VIII
see to it that the local delegates miss
none of the business benefits or soclal
pleasures of the Detroit sessions. AS
usual. the election of a new national
president to succeed Paul V. DetWller
will arouse intense interest. as there
has been a lot of quiet electloneerlng
for months.
As Moody Sees Stock Market.
1.-TWO points which appear rather
evident are that the stock market Is
not vet ready for any really Substan-
tial break" saws Moody's Review, but
that. nevertheless, any general up
ward trend under existing conditions
tends to strangle itself by overtaXinS
the supply of loanable funds.
prices since the first of June have
gone off nearly 10 points: there is
reported an effort Of stock brokers 10
curtail loans. and this very cOnserVa-
tism renders liquidation improbable.
THE more quiet the stock market
becomes, the better should be the
chances for distributing large new
bond issues to the public"
southern lJdIFIeS new
A new fiscal policy has been inaugu-
rated by Southern Diaries, Inc, by
which reserve for depreciation and
maintenance has been raised from
$500, 900 to 100000 annually. In the
first quarter this year S20O,O0O was
charged off to this account. Previously
no reserve was charged off until the
end of the fiscal year.
Yearbook Makes New Record.
Dollars and Sense, the yearbook OF
Washington Chapter, A. /. B., ap'
peared late yesterday. and is the best
publication of the kind yet printed
1t contains 73 pages of reading mat
ter photographs and advertisements.
The cover is in blue and gold. Among
the photograph in the booklet are
those of the officers. board OF govern.
ors, editorial staff. graduates granted
certificates this year, w. w. Spald ana
Howard Moran, president and retiring
president of the District Bankers AS
ISOLATION: Chairman Harry V. Haynes
of the Clearing House Association. and
William Mather Lewis, president OF
George Washington University, con-
tributor. The essay contest winners
and their essays are also given proml'
nent positions.
The staff publishing the yearbook
includes Aubrey o. Dooley, CONNER
cial National Bank. editor-in-chief;
Garrett NJ. Van Hoesen, Second Ma
tional Bank; Norman E. TowSon and
Miss Mabel V. Royce, Washington
Loan and Trust Co.: o. Lehman. Sc
curity Savings and Commercial Bank,
and Miss Lois A. White. Federal
American National Bank, editors; VIII.
liam f. Schooley, American Security
and Trust Co., business manager, and
Frederick p. II. Siddons, secretary,
American Security and Trust Co., as
sociate business manager.
Stock Transfer Is Announced.
The transfer was concluded yester-
day of the entire stock of Dennis G.
Shea, consisting of one-half of the
capital stock of the P. j. Nee Co., to
Mrs. Nee, widow of p. J. Nee. This
places the entire business and estab-
lishment at 745 Seventh street north
west in the hands of Mrs. Nee and
her family.
The consideration is said to have
been between $25O,0OO and $500, 900
for Mr.. Shea's interest. Negotiations
have been pending for some time. Mr..
Nee at the time of his death in 1928
was a prominent local merchant and
a director in both the Franklin Ma
tional Bank and the Park Savings
Bank.
Banks Resources Over $50, 900.
Since the last controllers call as
of June 80. the Riggs National Bank
has published a statement showing
that the total resources of the bank
RI
To be exact resources are now
S50,441, 800.
The banks capital is now $780, 900
and surplus and profits, 2,S6S,300.
Since the call of March %, Riggs de-
posits gained more than $5,000,00O,
the banks unusual prosperity being
most gratifying to President Robert
V. Fleming and his associates.
Heard i'm Financial District.
Among the former Central Savings
Bank directors who attended the din
ner given to Francis NJ. Savage were
Gregg G. Bridal. Dion S. Birney, j.
Floyd Cissel, B. H. Gruver, Franklin
w. Harper, Jesse H. Hedges, Paul E.
Lesh, Judge George II. Macdonald,
Charles w. Norris and Judge Milton
Strasburger. During the dinner Mr..
Savage took occasion 10 say tndL
while he was planning to take a more
or less extended rest he expected later
to return to active banking.
The board of directors of the
Chesapeake & Potomac Telephone Co.
has just authorized addition to its
Virginia system which will involve
expenditures of $2S2.700. bringing the
total appropriation for improvements
in this State for the first six months
of 1927 to $1,410,140.
Bonbright & Co., Inc; Eastman,
Dillon & Co. and associates are Offer
ing a new issue of $4,000 shares of
the Pennsylvania Ohio Power & Light
Co. Sc cumulative preferred stock, at
$9S.5O share and accrued dividends,
to yield 500 per cent.
Edward f. Perot, president of
Southern Diaries, Inc, says there Is