Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-02-21
WHOLE CONVENTION COMMITTEE
FOR BANKERS MEETING FORMED
List Includes Presidents and Other OFF,
Gals of Many Washington Institutions
W.R.9E. Common Declines to 210.

w. Perry, Chevy Chase Savings Bank;
Frank J. Stryker. Arthur n. Mitchell,
Columbia National Bank; +. Golden
Donaldson. James II. Baden, CONNER
cial National; Wade Fl. Cooper.
Charles w. Warden. Continental Trust
Co.; Eugene f. Thompson. Thomas w.
Brahany, Crane. Paris & Co; Z. c.
Exnicious. J. A. Richards, Depart
mental Bank: Robert N. Harper. Hill
leary l.. Offutt, District Nationals;
John G. Yost, j. A. Mccarthy, East
Washington Savings Bank; Harry V.
Haynes, Harold w. Burnside, Farm
ers and Mechanics National; John
Poole, Wilmer j. Waller, Federal
American NATIONAL; John B. Cochran,
Thomas p. Hickman. Franklin Ma
tional; w. B. Hibbs, w. w. Spaid, w.
s. Hibbs C Co.; John Il. Waller, Aus
ten c. Waller, International Bank; Jo-
seph' Schiavone, Frank j. Kaufman,
jr.. international Exchange Bank;
George o. Watson, Edward J. Nc
Quade. Liberty National; Floyd e.
Davis, James A. Soper, Lincoln Ma
tional; l.. p. McLachlen, A. McLach-
len, McLachlen Banking Corporation;
Peter A. Drury, Luther f. Schreiner,
Merchants Bank and Trust Co.; Bert
ram Chesterman, Morris Plan Bank;
William Muehleisen, William r.
Baum, Mount Vernon Savings
Bank; c.. Fl. Pope, c. ID. Radcliffe,
Munsey Trust Co.; j. Frank White,
Edmund II. Graham, National Bank
of Washington; Henry Fl. Mckee,
Samuel G. Eberly National Capital
Bank; George w. White, G. F. Jacob
sen. National Metropolitan; Charles c.
Lamborn, f. Percival Wilson, Ma
20 wiz g. CT ~
Hoover, w. Reginald Lewis, North
east Savings Bank: Theodore Michael,
A. o. Ollie, North Capitol Savings
Bank; Henry w. Offutt, B. Agee
Eowles, Potomac Savings Bank;
Robert V. Fleming, George o. Vass,
Riggs National; Victor B. Deyber,
Fred w. Mckenzie, Second National;
julius I. Peyser, Francis G.. Addison,
jr., Security Savings & Commercial;
August II. Plugge, John ID. Howard,
Seventh Street Savings; Edison B.
Odds. Union Trust Co.: Wilbur Fl.
Zepp, United States Savings Bank;
John b. Larner, Harry G. Meem,
Washington Loan & Trust; Ezra
Gould, r. 3. Bagby, Washington
Mechanics Savings Bank; Thomas L.
FARRELL and John d. Leonard, Wash
ington Savings Bank.
Fraud Bills Before Congress.
Two important national fraud bills
have just been introduced in Con.
gress. One was introduced by Senator
Deneen of Illinois on Saturday and
the other was put in by Representa-
tive Dempsey of New York. The pro-
posed measures were referred to the
COMMITTEES on the judiciary.
The bills aim ito prevent fraud in
the sale or disposition of securities
through agencies of interstate or for
eign commerce and to provide sum-
mary proceeding therefor and penal
ties for the violation thereof" The
Senate bill is numbered $3.50 and the
two are practically the same in
wording.
The introduction of these measures
will arouse wide interest in this city.
where the investment bankers have
for a long time been endeavoring to
get more rigid laws against bad Sc
curities. The question has often been
discussed by financiers both in and
out of the local bankers association.
The term security" as used in the
bill covers almost every conceivable
kind of property investments, also
stocks, bonds, voting trusts, treasury
notes, subscriptions, certificates, in
tons. Final actions on these bills will
be awaited with intense interest.
Local Stocks Again Strong.
Local securities were again strong
on the local board today when trading
opened for the week. The first sales
for more than a week occurred in
Washington Railway & Electric COM
mon, 21A shares selling at 210, 20
points under the last sale at $50,
which, in turn. had been jump OF 80
points since the last previous sale.
New York brokers are accredited
with being the cause Of these recent
startling price changes.
Railway & Electric preferred was
also out, 80 shares changing hands
at 81. Potomac Electric Power opened
at 1881, advanced to 81 and closed
at 108A. Lanston sold at SO, 5 shares
of Riggs 1t 465 and 10 shares of Com
mercial National at 245. Capital Trac-
ton stood at 107 bid and 108 asked.
but no sales were recorded.
The exchange will be closed tomor-
row, Washington's birthday. Wash
ington banks and broker offices will
also observe the holiday, as will all the
markets and financial houses in New
York.
Insurance Officers Elected.
At the recent annual election of the
Mutual Investment Fire Insurance
Co. the following officers and direc.
tors were reelected: President, VIM
cent L. Toomey; vice president, M.
Frank Rupert; secretary, Horace l..
Beall; treasurer, Franklin P. Nash.
The following were reelected direc-
tors: Horace L. Beall, Franklin P.
Nash, Wilbur F. Nash, Vernon G.
Owen, M. Frank Rupert, Vincent l..
Toomey and w. w. WertZ.
The company's report showed a
very prosperous year with the eX-
tremely low record Of $4S.21 in fire
losses.
Thompson to Attend Meeting.
Eugene E. Thompson, member of
the board of governors of the Wash
ington Stock Exchange, will attend
a two-day session later. this week of
the governors of the Associated Stock
Exchanges to be held in New Orleans.
This organization, which is still com.
paratively young, takes in the ex-
changes outside Of New York, which
have many special interests in
common.
At this weeks sessions the idea of
having ulloiH HStihS fuIeS Iof dI
the exchanges in the association will
come up for discussion. 1t is be.
lieved that investors in one city
would be far better protected in plaC.
Ing their money in stocks in other
cities IL these securities had to be
listed under uniform rules, so that
they were properly investigated before
being offered for sale.
1t has also been proposed that each
exchange send it's quotations to all
the other member exchanges for the
convenience and protection of invest
ors in the different cities.