Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-02-04

ard Moran. president of the District
Bankers Association, and a score of
ether prominent bankers, will aid in
making the convention a signal sue
cess.
Over 200 Bankers Expected.
1t is expected that more than 700
bankers and their friends will be in
Washington at this gathering. All
members of the American Bankers
Association in this region. who are
interested in savings deposits will be
invited to attend the meeting.
Among subjects to be discussed will
be plans for increasing the volume Of
savings corresponding with the in
crease of recent years in the number
of savings accounts. Attention will
also be given to the matter of meet.
ing the competition of organizations
other than banking institutions seek
ing to attract money that otherwise
would go into savings accounts.
Other questions to be discussed will
be the furnishing of securities by
banks to their savings customers, sue
cessful plans for financing mortgages,
which are repaid by home owners on
the installment plan and many other
phases of bank practice relative to
savings deposits.
80 Land Bank Officials Here.
Fifty officials of the Joint Stock Land
Banks are holding a two-day conference
at the Farm Loan Bureau here and
discussing various matters connected
with farm loans The session opened
yesterday with addresses by Farm
Loan Commissioner A. C. Williams,
f. S. Landes. member Farm Loan
Board, and n. S. Bean, chief examiner
Farm Loan Bureau.
Today's session includes an address
by A. Frank Lever, head of the land
bank at Columbia, S. G.
w. j. Ball of Lafayette, Ind, presi-
dent of the Association of Joint Stock
Land Banks, an honored guest, was
called home last night because of a
death in his family. The sessions end
tonight with dinner at the Lafayette
Hotel.
Trade Situation Improving.
The Federal Reserve Bank of Rich
mond states that during the five
weeks ending January -, 1927, the
% trade centers in this district re-
ported debts aggregating $1,799,.
100, 900. This is an increase of $780,
$4,000, or 6.3 per cent, over the total
of $1,599 1897 900 reported for the pre-
ceding five weeks, which ended on
December 8, 1926. 1t also showed an
increase of SAL ,S39 900 over the debts
for the five week period ending Janu-
airy 1895. when the total aggregated
$1,658, 1891 ,000
The increase in the first two periods,
ending January Il, 1927 and Deem
Der s, 1926, was unusual, said the re-
port, the period containing the dull
days between Christmas and New
Year generally showing lower figures
than the preceding period. A very
large number of annual payments
around January /, more than bal
anced the smaller payments of the
last week in December, said the re-
port.
In spite of the large debit figures of
1925, said the report, those for 1926 ex.
ceeded them by more than half a bill
lion dollars. Aggregate debts in the
70 cities in 1926 amounted to $16,429,-
$4,000, compared with total of S15,-
819 ,533, 600 reached in 1925. The last
years increase shows an increase Of
5000 ,S55,000. Sixteen of the reporting
cities attained higher figures in 1926
than in 1925.
Half Century With Riggs Bank.
Congratulations poured in today
upon William j. Father, vice presi-
dent of the Riggs National Bank, who
is celebrating so years connection
with the bank. 1t was on February
4, 1877, that Mr.. Father entered the
service of Riggs & Co. as a messenger
He remained with the institution
when the original company became
the Riggs National Bank, with G.. G..
Glover as president, back in 1896, and
has been right on the job ever since,
as the expression goes. Mr.. Father
has come in contact with a host of
men of national reputation and has a
very large circle of Washington
friends. He is uniformly cordial and
his banking judgment has long been
unquestioned. Mr.. Glover, now chair
man of the board, alone has served
the institution longer, his conn ,ction
with the firm covering 62 years.
Richmond Ratio Slightly Lower.
The weekly reserve banks state.
ment showed but slight change in the
banking situation during the week.
The ratio of reserves to combine cur
rency and deposit liabilities of the
system as a whole was 1876 per cent,
a decline of about one per cent, in the
week. But at Richmond the ratio
was fractionally lower, at 1913.
against 1886 per cent the week be-
fore. The ratios were still close to
their highest points in three years.
Rediscounts at Richmond totaled
So, sos, 900, against S21,232, 900 the
previous week. In the system as a
whole they increased $28, 114,000 to
$393, 271 900. Bills bought in the open
market increased about the same ex-
tent.
Local Exchange Again Busy.
First trading in the newly listed
Barber & Ross 612 per cent bonds
was one of the features in lively
trading session today on the local
board. There were four transactions
in these bonds, the first two being at
99% and the other at 991a.
Washington Gas 6s, Series B. came
out at 1041b: Washington Railway
and Electric As sold at 1875 ad Poto.
mac Electric Consolidated IS regis
tered 10114. Washington Gas Light
stock was again very active,
opening at 699s and closing at 691a.
sales reaching I21 shares. Capital
Traction held ct 104A Railway and
Electric preferred at si12 ana Poto-
tofnac Electric preferred at 1924.
Continental Trust sold at 107, Fed
eral American Co. common at "a.
Commercial National at 235. National
Union Fire Insurance Co. at 20 and
National Mortgage and Investment
preferred at 8. Peoples Drug was
quoted eX-dividend today.
Other Financial Notes.
John p. Ryan, assistant to the pres
ident of the New York Stock EX-
change, e. III. Fl. Simmons. was
visitor in the local financial district
L. 10 IN
for the appearance of Mr.. Sim
mons on February II. when he will
give an address before Washington
bankers and members of the Board of
Trade.
The National Building Units Corpo