Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-04-15
GUESTS INVITED
TO BANK DINNER
Treasury Officials included in
y List-Mortgage Firms
in Big Merger.
ny EDWARD C. STONE.

ny EDWARD c. STONE
President Howard Moran Of tn
District Bankers Association ar
guests have been invited TO atten
the Spring get-together dinner mex
Monday evening at the Columbi
Country Club, plans for this informa
affair having now been completed:
j. w. Pole. chief national bank eN
aminer; Charles ". Collins, depui
controller OF the currency; William !
Folger, chief examiner for this dls
trict: Merle Thorpe. editor Nation
Business: w H. Moran. chief of secfe
service: J. W. Mcintosh, controller
the currency: Clifford X. Bergman
cartoonist I. A. Fleming, fnancia
writer: r. +. Mouuttoy deputy mar
ager National Bank Division. a. Is
A.; Frank J. Hogan, counSe iolsITIo
Rsnkers' Assocfa ton: Richard r. Hat
ton p. ". Patterson and e. c. Stone
newspaper representatives.
This gathering is one Of the ms
events of the year among loca
bankers. Many bank officials and
directors, who do not always get Il
the annual convention. make It a
special point never TO miss one OF the
meetings
Mortgage Firms to Unite.
The Mortgage Bond X Guaranty
Corporatton 1910 Vermont avenue,
has voted Ia merge With The Mort gage
Security Corporation of America of
Norfolk Va, this action having been
taken by the preferred and common
stockholders at an adjourned meeting
in Alexandria yesterday. As the direc-
tors of the Norfolk concern are anX-
ious TO complete the merger. il is eX-
pected that the stockholders Of the
company viii vote in favor Of II AZ
meeting late TODAY in Norfolk. Stock
holders in the Washington company
were unanimous in favor Of consoiida-
ton.
The uniting OF these two compa MES
will create one OF the largest concerns
of the kind anywhere in the country.
The Washington firm viii continue its
activities in the local field, maintain
ing an active organization and per
rnanent quarters here. Fernand Petit,
vice president and secretary Of the
Mortgage Bond & Guaranty Corpora
lion, will be affiliated with the larger
company. and several directors Of the
local company viii be elected TO the
new board.
Guaranty Corporation are Harry A
Kite. president: Appleton T. Clark ana
Hugh A. Thrift. vice presidents; Fer
nand Petit. vice president and secre-
AIRY. The officers and the following
sor1n the board of directors: c. :. Tay-
or Burke. Clarence r. Donohue, j. ;.
s;ruver. Frank J. Hughes. Frank F.
Morse, w. o. Pierson. James II. Pres
on. George r. Walker. William ID.
Vest and Judge Daniel Thew Wright.
Nominated for Directors.
Eight members Of the District Of
Columbia Life Underwriters Associs-
ron were nominated at the meeting at
The Raleigh yesterday to I'LL vacancies
on the board of directors and will come
up for election at the May meeting.
They include Marjorie Daniel. W. f..
Ellsworth. NJ. Cochran Fisher. j.
Frank Fooshe. jr.: f. p. Kern. J. A.
Maloney, j. A. Mari and Lea g. Sta
bier. -Four new members were voted
INTO the association and 4. y. Knew
son reported on his trip 10 the nation
al meeting in Chicago. 1t was an
bounced that r. A. Woods of Pitts.
,urgh will address the monthly meet
ng on May 3.
Local Rediscounts Slump.
Discounting by banks in the local
fffthl distdict continued at unusually
.ow levels during the second week in
April, according to the weekly state
nent of the Federal Reserve Bank OF
Richmond, showing condition as OF
April 10.
Bills discounted totaled $40 $50 900
compared with $40 1862 ,000 in the pre-
vious week and approximately $4S,
900 600 at this time last year. The
Richmond ratio changed but slightly
standing at 1897, against 1881. Mem
her bank reserve deposits. however
declined approximately 100000.
Telephone Stockholders Happy.
Local stockholders in the American
Telephone G. Telegraph Co. are re
ioicing over the advance in the stock
quotations 10 the highest point IN
quarter OF century. The stock has
gone UP more than % points from the
low Of the present year and has o.
course paid all regular dividends
More than 80 900 stockholders have
been added TO the list since January
/, making an approximate total o.
430 900 shareholders with an average
holding of % shares. Furthermore
the number is being increased by hun
dreds each week. Among those wh'
have made steady additions are Georg'
r. Baker, who held 40.022 shares il
March Of this year. compared will
34,161 in March a year ago.
Wonen's Committee Named.
Miss Lois A. White. president o
the Bank Womens Club, has named
two additional committees in connec
ton with the work of the new organi
zstion, as follows:
Dinner, Mrs. Judith Fisher, Com
mercial National Bank, chairman
Miss Harriet Barrett. Riggs National
Miss Ellen Crawford. American Sc
curity & Trust Co; Miss Loretta En-
mis-, Second National; Miss Clara Nc
Grath, National Metropolitan; Mis-
Lillian Mitchell, unafTiliated, and Mis-
IAila M. Sloat, National Metropolitan
Fellowship-Mis Rose Royce
Washington Loan & Trust Co. chair
man; Miss Elizabeth Billiard, Waggs
man & Brawner; Miss Mary Craven
District National: Miss Evelyn Haw
kns. American Security & Trust Co
Miss Frances z. Orrison. Federal
American National; Miss Helena i
Peed, Lincoln National. and Mrs. Flor
snce W Wright, formerly Riggs Ma
tional Bank.
Higher Fruit Prices Predicted.
This years fruit and vegetabI
crop viii not be as large as the 1872
crop, which broke all records for III
past 40 years, the Brookmire Eco
nomic Service estimates in study @
agricultural conditions. Prices dprin
the current year have been very niue
lower than those of the year prev
Gus, owing TO the large output. Dur
ing the coming season it is probabl
that prices viii he more than enoug
higher TO compensate for decrea Sc
production. Short fruit crops In foi
eian countries greatly aided thi
years crop, but It Is expected tina