Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-06-07
FARM LOAN BONDS
ARE OFFERED HERE
Local Joint Stock Land Bank
Issue Being Marketed by
CT. ChiIds & Co.
BY EDWARD C. STONE.

A new issue Of 100000 farm loan
bonds, dated June I, Of the Potomac
Joint Stock Land Bank Is being Of
fered TODAY by C. F. Childs & Co., at
1887 and accrued interest, to yield
about 4.56 per cent to redeemable date,
1897. and per cent thereafter-in-
terest payable at the Riggs National
Bank. These bonds are direct obi.
CATION of the bank, authorized under
the farm loan act, and exempt from
all Federal. State, municipal and local
taxation. The bonds are secured by
first mortgages on farm lands or
United States Government bonds held
by the Government custodian. the
registrar, and also by the capital, sur
plus, reserve. undivided prohts and
other assets of the bank.
The bank was organized four years
ago under the farm loan system to
onerate in the States of Virginia and
MARYLAND. 1t has enjoyed a steady
growth and now has resources of
more than $6,000.000 and is on per-
manent dividend basis. On the board
OF directors are many bankers OF the
District of Columbia, Maryland and
Virginia. George A. Harris, president
of the institution, announces that the
small increase in the capital stock
June l had been promptly subscribed
by the present stockholders. The
capital is now $3.50. 900, with surplus.
reserve and profits in excess Of
800, 900.
Haslkin Stock Offered Public.
Frederic J. Haskin, Inc, is offering
the public an issue OF 100000 Z per
cent cumulative preferred stock. par
value 500 per share. The Haskin
Co. Is now being Incorporated under
the laws Of Delaware and will include
the Frederic J. Haskin News Feature
Service and the Potomac Park Apart
ments. The purpose of the issue Is
to reffnance the business and prop
erty of Mr.. Haskin and to procure
additional capital for the further en-
largement of the business.
The new stock is priced at 800 per
share and the permanent certificates
will be ready for delivery on or about
July /. Redemption of the preferred
stock may be made in full or in part,
on 80 days notice, at any dividend
payment date at 105 and accrued
dividends.
A circular report states that dlvi-
dend requirements are being more
than earned at present. An estimate
based on the balance sheet as OF June
l gives the estimated earnings as sub
stantially two and one-half times the
dividend requirements on the pre-
ferred stock. The Haskin Office is at
Twenty first and G. streets northwest.
Convention Delegation Grows.
1t was announced today by John M.
Riordan, chairman of the transporta-
ton committee for the District Bank
ers' Association convention, that the
number of reservations had now
reached 279.
That is by far the largest number
in the history of the associations
annual conclaves. 1t means that
there is more enthusiasm this year
than ever, that the business sessions
will be more largely attended and the
sports contests more interesting.
In his opening address President
Howard Moran will have year of
exceptional activity to review, and the
reports of the host of special COM
mittee chairmen will reveal much
constructive progress.
The publicity committee, of which
Frederick p H. Siddons is chairman,
held it's final meeting at bankers
headquarters yesterday afternoon.
Chairman Luther Z. Schreiner Of
the hotel committee will leave Wash
ington today for Hot Springs to
arrange in advance for the arrival
of the party early Thursday morning.
James B. Edmunds, Chesapeake & Ohio
passenger agent, announced today
that there will be special car on the
regular train tomorrow afternoon,
leaving here at 2:35, for those who
prefer to take the trip in the daytime.
Merchants Bank Votes Dividend.
At regular meeting of the board
of directors of the Merchants Bank
& Trust Co., held in the banking
rooms in the Southern Building, the