Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-03-11

roads and will De permitted to present
evidence and argument.
Registration Committee Named.
The full membership of the regis
tration committee in connection with
the regional conference of the savings
bank division, American Bankers
Association, which will be held in
Washington April rs, has been an
bounced by Howard Moran. president
Of the District Bankers Association
and chairman of the general com.
mittee. George o. Vass, vice president
Riggs National Bank, has been chosen
chairman; Bruce Baird National Saw
ings & Trust Co., vice chairman, and
the following: f. Fl. Cox, Commercial
National Bank: ~. ]. Groom, Washing
ton Mechanics Savings Bank; T.
Hunton Leith. Security Savings q
Commercial Bank; ]. ]. Roberts. Riggs
National; G. w. Shoemaker, Potomac
Savings Bank, and Robert S. Stunz,
Park Savings Bank.
Made Clearing House Member.
Harry V. Haynes. chairman of the
Washington Clearing House Associa-
ton, reported that the Central Saw
ings Bank has been admitted to as
sociate membership in the association.
This bank was opened for business
on May 81, 1925. and has enjoyed
healthy growth since that time. Pres
ent canital is 100000 surplus while
deposits. at til close of business yes
terday totaled over 100000. On March
81, 1926. resources was placed at
$913.941.
The banks officers are composed or
Francis NJ. Savage, president; Charles
w. Morris. vice president: j. William
Roberts. cashier: C. Edward Way. as
sistant cashier and new business man.
ager, and Dion S. Birney, counsel. The
senior officers and the following COM
prise the board of directors: Gregg c.
Birdsall, j. Floyd Cissel, B. III. Grover,
Franklin w. Harper, Jesse n.
Hedges, Judge George II. Mcdonald.
Garden F. Warner. Milton Strasbur-
ger and Paul Lesh.
Sweeping Bond Gains Noted.
Brown Brothers & Co. have issued
the ninth edition of their booklet.
Foreign Dollar Bonds" which this
year gives a brief account of nearly
800 issues of foreign governments,
municipalities, states and corporations.
In the foreword of the booklet 1t a
list of 20 government bonds, showing
the January prices in the last four
years and illustrating the great change
that has come over the dollar bond
market in that period. In 1924 these
20 issues represented an average price
of little under 951a. and in January.
1927. 103A.
Decline i'm Income Forecast.
Primary income during the next six
months will be slightly lower than in
the corresponding period of 1926. the
Brookmire Economic Service. Inc, pre-
diets in a study Of business conditions.
AS a result the volume of trade will
not continue much longer making new
high records. An increase Is reported
in mining income over January, 1925,
owing to great activity in coal and
OIL and a seasonal expansion in gen.
eral business is anticipated this
Spring. These increases. however, are
not expected to offset the lower farm
income. decrease in building activity
and business profits, and an antici.
pated decline in industrial employment,
which will probably not reach last
March's high, when factory pay rolls
amounted to 81 ,158, 200, 900.
Fifth District Discounts Lower.
Easy money conditions were fur.
Their emphasized by the Reserve Bank
statement today which showed a fur.
Their decline in bill holdings of the
system as whole. Rediscounts OF all
~ banks combined were reduced $751;
705, 900 in a week, while bills bought in
the open market were about $685..
O00, 900 lower. Discounts in the local
fifth district also were lower at S23,'
1877, 900. compared with $23,597,O0O the
week before.
NAtA DIR 10 0f
bank stood at $73 1876, 900, against $73,.
SAG, 900. Member bank deposits totaled
0,313 900. gain of $4,000 in a
week.
The Richmond ratio stood at 1903
per cent. compared with 1866 in the
previous week, and that for the entire
system at 1911 against 1876 per cent.
Dairy Merger Announced.
Chestnut Farms Dairy. Inc, has
taken over the Guernsey Dairy Co.,
the merger to become effective al
once. In connection with the pur.
chase it is announced that the per.
sonnet of. the Guernsey Dairy will be
retained by Chestnut Farms. While
the amount of money involved in the
transaction has not been stated, 1t is
said that no additional financing will
be necessary.
Today's Financial Notes.
The stockholders of the Second Ma
| tional Bank will vote next Tuesday
on the directors proposal to increase
the capital $250.000, making it total
| $3.50, 900.
George B. Chapman, resident partner
of Hartman & Co., has returned
home from short business trip tc
New York.
Trust Companies Magazine for this
| month contains picture Of President
John B. Larner Of the Washington
Loan & Trust Co. and refers to the
banks building expansion now in
| progress.
Liggett's February sales were 81,
| 510.473, against $780, 49 IN February
last year. Sales for the first two
| months this year totaled S9,2S2,917
| against $7,664,872 a year ago.
| Local bankers are just swampe6
with work making out income taxes
| for their depositors and the Govern
ment experts at the banks are also
kept working at top speed. Next
| Wednesday Is being eagerly awaited
| The local institutes three forum
dinners have been so successful thai
1t has been decided to add one more
| similar meeting. to be held some time
| in April.
|