Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-07-17
HUGE SUMS PLACED
-
| IN FOREIGN LIENS
Issues Popular Here-Bank
Clearings 0ff-Junior
Bankers Honored.
BY EDWARD C. STONE.

foreign Capltal securities Oh d loldi
par value of s7SS, ,075, AS compared
: with 1896 ,o63.1sO for the first half OF
: 1895. The total Of new nominal capital
taken by Americans during the first
: half year reached SIPS. ,375, as
compared with S512. 467. $50 for the
corresponding period last year--a net
increase of S213.49S.525, according to
reports just made by the Department
! % Commerce.
The par value of foreign capital
, securities publicly offered during the
D.. April-June quarter Of 1927 amounted
20 SAIL, 1915, as compared with
: $343, sol 900 for the second quarter OF
1895 and $377.472,7O0 for. the first
! quarter of 1927. The total of new
capital taken by Americans during
/ the quarter was 1856, 251, 375, as com
! pared with 1902. 705700 for the cor
responding period Of last year-a net
increase of s62,545,675.
- Local Bank CIearings Decline.
/ Bank clearings in Washington dur
ms the week ended July IA were
lower than for the corresponding week
q year ago, although better than the
previous week. They totaled $27.
2e7 900, or AZ under the same week
In 1926, but compared with $25,928.00C
Tor the week ending on July z.
Baltimore reported to. Bradstreet a
decline over the same week last year
and the previous week this year
Richmond had a good increase over
both seven-day periods. Norfolk re
ported declines. The figures for the
country as a whole were slightly
ahead of 1925.
nspraa,. n.vfolyI~r DaGnnx.,s Anxnn
Director Frank T. Hines of the
Veterans Bureau reports that al
veterans notes being presented BY
banks, because the holders have not
met their interest, are being quickly
redeemed. The records so far sent tc
the bureau have been in such excellent
condition that there have been few
or no delays in payments. Director
Hines says that interest is being pai6
up to the date the checks are mailed
to the banks, so that no losses are
incurred. Fears of losses expressed
by bankers all over the country severa
months ago have proved groundless
Among the Washington banks max
ing an extra large number of these
loans were the Continental Trust Co.
in which Mr.. Hines is a director, and
the Departmental Bank. It is under
stood that most of the borrowers al
these banks have met their interest
Washington Chapter Wins Prize.
The flag Of victory is proudly float
ing over Washington Chapter, A. I. B..
and the % local delegates are coming
home from Detroit with a vice-like
grip on first prize for the best pub
Ncity display made in its territory dur.
Ing the past year. The presentation
Of the work of the junior bankers
organization in Washington and near.
by Maryland was considered by the
judges, according to special dispat&(c
to The Star, as the best made any
where in the country. Defeating the
1s1 other chapters was no small task,
much of the credit belonging to Miss
Mabel Royce of the Washington Loan
q Trust Co.. who was chairman Of the
publicity committee last year. p
This years chairman is Miss S.
Winifred Burwell of the National Met
ropolitan Bank, who is also up to the
minute in keeping chapter affairs be.
fore the public.
Semi.AnnuaI Dividend Declared.
The directors of the international
Bank, John r. Waller, president, have
declared semi-annual dividend OF
- per share, making a total of 50 sc
far this year. The bank officers say
that earnings justified a larger divi
dend but it was considered better
banking policy to increase the surplus
at this time. A statement just mailed
70 stockholders with their checks says
that the dividend voted in January
completed a return to the original
shareholders in cash and stock distri
buttons Of 500 per share since 1920
A condition statement as Of July II
reports capital stock outstanding OF
$1,206, 400 of an authorized issue OF
$4,000, 900, and surplus and profits OF
1851 1853, and total resources Of 81,
7s5,319. With the financial Statement,
is forecast by Vice President Austin
+. A. Waller, which predicts continued
satisfactory credit conditions, low in
terest rates with higher price leve
for investment securities. incidentally
Mr.. Waller asks the stockholders tc
do all they can to bring about lower
taxation throughout the country.
Acacia Business Expands.
New business written by the Acacia
Mutual Life Association during the
first six months of 1927 totale(
326, $50 900, representing a net gair
, in business of S1S,440,000, according
90 an announcement Of the company
The increase in new business a!
compared with the same period las
year when $19.93000 was written
amounted to $S,320,000.
Beauty to Feature Bond Issue.
Virginia is preparing to issue thu
gaudiest bonds ever f1oated by thu
commonwealth. Signatures of three
: officials and about a yard Of silk rib
bon will adorn the engraved evidences
Of the States obligations. The new
bonds, with a valuation Of $2,468, SOS
will replace the perpetual educational
certificates issued in 1892 and now
held by schools, colleges and institu
tons. The old securities bear interest
at the rate of SO, whereas the new
bonds will not pay more than Az %
By some unexplained slip, the gen
eral assembly bill providing for the
refunding of the educational certif.
Gates calls for them to bear the great
seal instead of the lesser seal.
"a Rich Mans Market"
II 10 a rich mans market, accord
ing to Barron's Weekly, for June 10
which says: 1T Is still safe to sa,
that the buying OF stocks is almost
uniformly better than the selling
G0Ukc anu tuOIc IL DeCOHleS flcF
mans market because the big out
side public and the semi-professiona
speculators are fearful of the risk.
involved in buying before what the,
believe must come sooner or later, viz.
q sweeping reaction regardless OF
financial or business fundamentals.
THE wealthy however, can visual
lie only the steady pressure of CAPT
tai seeking an outlet, the cheapness OF
money and liberal dividends which