Evening star., 1927-06-19
v. A. HILL ELECTED
TO BANKS BOARD
FederaI-American Names Re-
aItor-LoCaI Exchange En-
joys Boom-Notes.
BY EDWARD c. STONE.

William A. Hill, president of the
William A. Hill Co. real estate deal
ers, has been elected a director in the
Federal.American National Bank. ac.
cording to announcement made by
President John Poole. Mr.. Hill is
widely known in the business life of
Washington and is already serving as
director In the Security Savings &
Commercial Bank, the FederalAmeri'
can Co. and in the Securities Corpo-
ration. He is also member OF the
Washington Real Estate Board, the
Chevy Chase Country Club and the
Metropolitan Club. The new director
takes the place on the board left va
cant by the death of DR.. Ralph Jen-
kins, which occurred some time ago.
Exchange Gains Prestige.
The Washington Stock Exchange is
going ahead by leaps and bounds in
the amount of business being trans
acted during the present year. Incl
IDENTIFY the price of seats on the local
exchange is also higher than it has
been for some years.
Trading at this time Is three or
four times larger than during the
same period last year and it appears
almost q certainty that total transac.
tions for the Il months of 1927 Will
far exceed that of 1926. This predic'
ton is made on the strength of the
total business done during the first
half year. now SO nearly ended.
Already 2,101 shares Of the new
Potomac Electric Power 51a per cent
preferred stock have been dealt in on
the local board. That puts the new
issues at the head of the list so far
as June is concerned. The stock was
sold to the public at 90, the first sale
on the exchange was made at 1Ol u
and it closed Friday at 1O2.
During the first half year Washing
ton Gas Light stock has seen the
greatest volume Of trading, with
turnover of 1911 shares. Capital Trac'
ton comes next with 5,117 shares
changing hands. Lanston Monotype
which closed the week at par, leads
the miscellaneous list. In the bank
stock column Union Trust is out In
front with a 34S-share turnover. fol
lowed by American Security q trust
with 326.
Mills Discusses Liberty Bonds.
Have you any Second Liberty Loar
Bonds? If so, you will be interested
in what Undersecretary of the treas
ury Mills had to say the other eve
ming over the radio, when he sum-
med up his remarks as follows:
"The holder of a Second Liberty
Loan bond has today two courses
open to him: He may exchange mis-
bond at par for a new 1920 year
3sk per cent Government bond that
has sold at a premium of one-haE
of | per cent. Or he may tender
his bond to the Treasury Department
for purchase at the present time.
"The privilege of exchange Will re-
main open until the close of business
on June 80. The privilege of offering
the bonds for cash will remain open
until the close of business on June
20. 1t is not the function of the
Treasury Department to advise you
what YOU should do. We do, how
ever. strongly advise you to consult
your banker at your earliest possible
convenience.
"And remember your Second Lib
erty Loan bonds have been called foi
redemption on November Is. next,
Some Big Railroad Figures.
American railroads which have
been going through a drastic perloo
of recovery since the Armistice nave
put back into their properties over
81 900, ,000,00 since 1918. according te
an estimate contained in study ol
railroads by Jackson & Curtis. IRON
1918 to 1926 inclusive, according &c
this figure, the sum reinvested was was
apnroximateiy $1,000, 100000. The
same ratio of reinvestment has con,
tinued through 1926 and the first hali
of 1927.
Heard i'm Financial District.
A remarkable decline in use of Fed
eral Reserve credit in the local f1ftn
district is shown in the Richmond
banks statement of condition on June
IS. Rediscounts stood at only S19,
500 900, compared with $45.4SS,OoO or
June 16, 1925.
Announcement was made today oil
the purchase of $700 900 612 per cent
first mortgage sinking fund gold
bonds of the West Virginia Ohio River
Bridge Co. by Mackubin, Goodrich d
Co. of Baltimore and Mclaughlin
MacAfee & Co. of Pittsburgh.
The next big news in connection
with the District of Columbia Bank
ers' Association will be the appoint
ment by President w. w. Spaid OF
the SLAnQlnE COIHinitLcSS AoA ShN
coming year. Last years committees
were so active that the pace set VIII
keep this years members hustling 10
the limit to keep up to the standard
Ex-President Howard Moran of the
Bankers Association is so enthusiastic
over Hot Springs as an ideal place
for a convention that he would be
willing to go there every year for the
next 25 years, or, in fact, for so years.
In other words, he will never tire OF
passing four days each year at the
Virginia resort.
Another issue of the Commercial
National News appeared yesterday
The publication, edited by r. Jesse
CLANCY. contains photographs of Wal
ter ]. Harrison, recently elected vice
president; Frederick Fl. Cax, new
cashier, and Aubrey o. Dooley. just
made assistant trust officer.
Local bankers are in hearty accord
with the plan of decorating the city
on special occasions with flags set In
the concrete sidewalks. Most of the
banks in Washington are likely to
adopt the idea The scheme makes
the work of decorating much simpler
and cheaper.
WILL DISPENSE BEER.