The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-05-25
PLAN INSTITUTE
SESSIONS
By RICHARD HATTON

ny hINnA6O hAIION
The Al delegates chosen by the
Washington Chapter, American In
stitute of Banking, to represent the
local organization at the annual
convention of the institute to be
held in Detroit on July II met in
the chapter rooms Tuesday evening
to make preliminary arrangements
for the trip.
Last year delegates to the annual
convention, which was held in Dallas
Tex, Travelled by special train,
which, starting from New York,
picked up contingents from the
larger. cities of the East and South
1t is presumed that the same ar.
fangement viii be made this year
and that the Washington delegation
will entrain with delegates from
New York, Philadelphia, Baltimore
and other Eastern cities.
Those chosen to represent Wash
angton at the important Detroit
gathering are: T. Hunton Leith,
Ross e. Pollock, I. J. Roberts, 10.
seph D. Yerkes, r. H., Lacey, L. T.
Savage, Frank M. Perley, James C.
Dulin, jr.; William e. Schooley, A.
w. Sherman, Harold w. Burnside,
r.. Jesse Clancy, ] Stephen Rams.
;burgh, Catherine M. Krieg, John
Keener. Eliot H. Thomson, M. r.
sShowalter, Esther Lau, Lois A.
White, S. Winifred Burwell, E. J.
sMeQuade, s. S. Oglivie, Myrtle e.
Wolfe. A. E. Henze, Norman e.
-Towson, John Christian, Harriet
Barrett, w. L. Sanderson, Mary
Craven, James A. Soper, Loretta
Ennis, E. C. Steffe. A. o. Dooley,
Ellsworth Meyer, Helena D. Reed,
C. F. Schatz, Mildred Woodcock,
Leo ]. Moran, H. F.. Kimball, Rose
Z. Royce and Mabel V. Royce.
An interesting view fthe stock
market is contained in the current
Review of E. A. Jierce & Co., Of
New York. which says:
Common stocks of established
and proven character appear to be
as solidly held as ever, with the
owners of large blocks disinclined
20 take advantage of existing prices.
In other words. what might be
called the investment element still
IS quietly confident
ION the other hand, the trading
element, composed of spectators
who are quite willing to follow the
line of least resistance whether 1t
he up or down. and who are inter-
ested more in opportunity for quick
profits. seems to be progressively
bearish. The persistency of snecu-
lative sellers seems to be based
upon the idea that the high level
of prices. with a background of
epotty general business conditions,
argues for at least a technical
reaction, one which might last for
a month. somewhat in the nature
of the reaction of October. 1925,
but not as severe as the break Of
March, 1926.
THUS far selling efforts have
met with success only in stocks
whose current earning powe
frankly is unsatisfactory and, in
many cases. it seems to us as if
liquidation and selling in such issues
Just about discounted the known
facts with regard to respective
trade positions. The higher priced
stocks, irrespective of group clas-
sifications. where earnings equities
are well in excess of dividend pay
ments. and growing. have shown
consistent ability to snap back after
each drive.
ITO say that a reaction is impos.
s1ble, or even improbable, would
be ridiculous. We venture to guess
that should the market be con-
fronted with substantial reaction
steady buving demand would
make its appearance in the better
grade stocks. Even, in that group
where trade conditions are known
to be most unsatisfactory. and with
no pronounced relief apparently in
sight. liquidation is no longer heavy
and pressing.
1--WE refer to the oils. While, in
our opinion. it Is not yet time to
accumulae the oils on the theory
that the over-production of crude
and the recovery of price stability
IS an early probability, long range
view would lead to the opinion that
some Of the larger and more
strongly established companies will
profit in the end and that as a result
of the predicament in which the oil
industry finds itself it seems likely
that a number of the evils which
have accompanied the almost mush.
AoOA4b tLOW III Va LILO Will
be eliminated
President Peter A. Drury, of the
Merchants Bank and Trust Com.
pany made a short business trip to
New York this week. He is expected
back at his desk today.
There will be a meeting of the
board of governors Of the Washing.
ton Chapter, A. I. B., in the chapter
rooms at 7:30 this evening. Reports
will be heard from the several com.
unittee chairmen.
President John B. Larner, of the
Washington Loan and Trust Com.
pany, is on an extended trip to the
Pacific Coast. He is expected to re-
turn in June.
The Security Club Of the Ameri-
can Security and Trust Company
win hold it's spring dance and card
party at the Manor Country Club
this evening, beginning at 8:45.
Arthur N. Mitchell, cashier Of the
Columbia National Bank. has re-
turned from an extended vacation
spent in the South.
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