Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-06-08
BANKERS GET OFF
TO SPRINGS TODAY
D. C. Financial Fraternity
Leaves for Virginia Resort
on Special at 9 PM.
Ry EDWARD C. STONE.

BY EDWARD C. STONE.
Armed to the teeth with annual re-
ports, special addresses, recommended
tons for next years activities, gold
clubs, tennis racquets, riding habits,
new and old kit bags, the District
Bankers Association delegates will
leave the Capital for Hot Springs. Va.
this evening and open their annual
convention at the Virginia resort to-
morrow morning. The party will have
a 12-car special which leaves here at
o'clock
The last word in arrangement has
been said. 1t is believed that the pro
gram is strong enough to hold the I'M
divided attention of all the bankers in
the morning. The remainder Of each
day will be given over to social and
athletic pleasures. Among the spe-
cially invited guests will be Controller
J. w. Mcintosh and George J. Seay,
governor of the Federal Reserve Bank
at Richmond.
President Howard Moran will deliver
his opening address following the ron
call and the report of the committee
on credentials which will show just
how far previous attendance records
have been eclipSed. The chief speakers
tomorrow morning will be Henry Fl.
Mckee, president of the National Cap
ital Bank, who will discuss the Nc
Fadden law, and Reuben A. Lewis, jr.,
associate editor of the American Bank
ers' Association Journal, who is to talk
on THE New Savings Competition"
Another feature of the opening SEES
sion will be the report of the special
committee on changes in the constitu-
ton and bylaws, Maurice D. Rosen-
berg, chairman. Later the trust COM
pany, savings bank, national bank and
State bank sections of the American
Bankers Association will hold their
meetings.
Chairman c. II. Pope is enthusiastic
over the sports outlook. It Is report
ed here that the golf links are in even
better shape than last Summer, when
William D. Hoover. president of the
National Savings & Trust Co., made a
'hole in one and a dent in several
others"
Friday will be given over largely to
the local chapter, American Institute
of Banking, when the three essay
winners will read their papers, and T.
Hunton Leith, the retiring president.
makes his report. Among the adj
III CooGS Will NC one ny EdHCIS Audi
son. jr., vice president of the Security
Savings & Commercial Bank, on "The
Importance Of Having All Real Estate
Notes Certified by a Responsible Title
Company" and talk by Louis Roths-
child. director of the Washington Bet
ter Business Bureau, his subject re-
lating to the bureaus efforts better to
protect the investing public.
The annual election of officers takes
place Saturday forenoon, and the
party returns to Washington Sunday
night.
Local Market Active Today.
Capital Traction again sold at los
on the local exchange today. The new
Potomac Electric Power 511b per cent
preferred opened with a 100-share sale
at 1013s and then touched a new high
at 101A. The final sale was made at
10112, the days transactions reach
ing ia shares.
Washington Gas Light stock was
also much in the 1imelight. 1t open
ed at 75 sold off an eighth and closed
there, after one sale had been record
ed at 74&. The turnover was 1870
shares. Lanston sold at par and Mer-
genthaler, selling ex-dividend, changed
hands at 1877.
ANe1hANdy pICLSI1Gu came out at III 70
Commercial National Co. preferred at
104 and 1031a and Federal.American
Go. common sold at S3K. Union
Trust Co. bank stock appeared on the
board at ESQ. Bond trading was quiet
at recent levels.
Decrease i'm Income Forecast.
During the next six months. total
income will approximate 98.5 per cent
of that reported for the same period
IN 1926, the Brookmire Economic
Service reports. They estimate that
the income from agriculture and con-
structlon will equal that of 1926, while
manufacturing will show a 2 per cent
decrease. mining per cent and
other income a l per cent drop. Min
ing output is running well ahead of
last year, but low petroleum prices.
copper curtailment and the coal strike
nave recently caused a reduction in
pronts and wages. Current income is
reported to be running about 10 ner
cent slower than at this time last
year.
Money Makers Kept HustIing.
While the manufacture of money is |
me biggest item of the Bureau of
and Printing, there are
many other classes of securities en-. |
sraVed and printed at this plant. Last |
year there were printed and delivered |
IN addition to paper currency Is. 900. |
oOo,o00 postage stamps, $500. 900 900 |
revenue stamps, not to mention the |
United States bonds. notes and certifi-
Gates of indebtedness; Philippine and
Porto Rican bonds and Philippine cur.
fency, disbursing officers checks.
transportation requests and numerous
other classes of engraved work.
Financial District Gossip.
Shields & Co. have prepared a she.
clal report on the history and bust |
ness of Peoples Drug Stores, Inc, and
10 other companies. which is being
distributed to those interested in these |
stocks
The annual meeting of the Virginia |
Bankers Association will take place
on June 23, "A and 25. at Virginia |
Beach. George A. Harris. president |
OF the Potomac Joint Stock Land |
Sank, will be among local bankers |
who will attend.
A. S. Goulden, head Of the invest. /
ment company bearing his name. has
returned from a business trip to New
! ork, and is preparing to attend the
Hot Springs convention.
Many New York bankers have
visited the local banks during their
in this city and renewed
contact with scores of Wash
ngton financiers with whom they do
I large business by mail.
The American Express Co. has de-
cIared q regularly Ol1artarIv dividend |