The Washington times., 1927-07-21
PEYSER STIRS
INTEREST
By RICHARD HATTON

The announcement that Wash.
ington is to have something new
In the financial field under the
progressive inspiration of Major
Julius I. Peyser in the organiza.
ton of the Bankers Consolidated
Corporation is creating more than
usual stir in financial circles.
While similar corporations, con.
Quoted along lines of the invest.
ment trust, have been operated in
other cities with great success this
IL the first company of the kind
so Tar as is known, to be organized
In Washington.
The president of the new or.
ganization is Major Peyser, Presi.
dent of the Security Savings and
Commercial Bank and the other
officers are: Vtce.president, Eugene
A. Smith, vice.president, Victor
Cahill; secretary, James Y. Penne.
baker; treasurer, Benjamin r.
Adams; counsel, Milton Strasburger,
trust officer, Fred Mckee; attorney.
George E. Edelin, and assistant
treasurer, Jerome P. Friedlander.
Offices of the corporation have
been opened on the fourth floor of
the Investment Building.
The idea behind the organiza.
ton is to provide individuals op.
pertuntty to participate in excel.
lent and diversified investments
and undertakings selected and
approved by financial experts who
are highly trained in the duties.
Before organizing the new com:
pany President Peyser and his as.
soclates made careful investiga-
ton of similar companies in sew.
eral of the larger cities as well as
a thorough study OF the operation
or such company with a special
view to the need of the investor.
Income of the company, it is
stated, will be derived from divi-
bends from securities purchased, ex-
erc1se OF subscription rights for ad.
dltlonal shares at less than market
prices, profits resulting from sale of
securities by reason of market ap.
probation in securities owned, re-
investment 0f surplus and accumu.
lated profits profits derived from
real estate transactions and under
writing charges.
Joint Investors. Inc. of New York
city, an investment trust organized
under the laws OF New York State.
reports net income for the first six
months of 1927 amounting, after re.
serves for taxes and trust company
fees, to $2S,179 For the nine
months since organization, net in.
come amunted to $36.193. equiva-
lent to $14.05 a share on the aver
age amount of prior preferred out
standing. or at the annual rate of
1878 a share. Earnings available
FOR the average amount of common
stock for this period are reported
as SAT- share or at the annual
rate of $685. share.
THE shadow of increasing
brokers loans which was hanging
over the market appears to have
blown away" according to the Sc.
curities and commodities review
issued by E. A. Pierce & Co. and
just distributed by the local office.
The review continues: ''The wide
spread explanation for the June
gains in collateral borrowings cen.
tered, not on an inflated position
in the stock market. but on the fact
that recent bond offerings had not
been moving any too well and we're
backing up in syndicate channels.
In the past two weeks the policy
of dissolving bond syndicates
promptly and allowing offerings to
seek natural market was quick
Of adoption. This may have been
temporarily unsettling to the mar
Data TArirnr of ANNA IF thA offnriV1 &c
in question but at least it freed
channel which was apparently he.
coming somewhat clogSad and re.
moved the sting from the argu.
ment that investment demand had
been satisfied and that the securi.
ties market was facing the prob.
lem of a troublesome amount Of
undigested securities"
The sales of ordinary life in
surance in the United States in
June, 1927. totaIed 1853, 1885, 900, ac-
cording to figures just issued by
the Life Insurance Sales Research
Bureau. This is larger than any
previous June on record and re.
fleets the generally good business
conditions throughout the country.
The report includes the production
of new paid-for ordinary insurance
exclusive of revivals. increases.
dividend additions. reinsurance from
other companies and group in.
surance, as reported by 81 com.
panies having in force SO per cent
Of the total life insurance outstand-
ing in the United States legal re-.
serve companies.