Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-03-07
31s AND 314 PER CENT NOTE ISSUES
ARE ANNOUNCED BY MELLON
Treasury March Financing Will Total
$45O,OOO,OOO and Be for Short Terms.
Savings Farley Outlook Bright

savings conference to be held in Wash
ingtOn on April and is very bright.
The regional conference covers the New
England States, Middle and South At
iantic States, invitations having been
sent to about $500 bankers to attend
the sessions. Not only are savings
banks included in the conference, but
all other banks in the eastern territory
which have savings departments.
Early replies to the invitations give
indications that there will be about
700 and possibly more bankers at the
convention. The program will be an
nounced in a few days.
Bank HIOuse-Warming Opens.
The completely renovated Bank Of
Commerce & Savings at Seventh and L
streets was thrown open for special
public inspection at o'clock this aft
ernoon, to remain open until 10 o'clock
this evening. The handsome bank
looked almost as much like a florists
shop as a financial institution, so
many flowers having been sent by
friends and other banks. One piece
that stood out prominently was huge
basket of roses from the group of
bankers who make up the midweek
luncheon club.
Visitors were shown every feature of
the bank. both from an artistic stand
point and that of practical utility.
First to welcome visitors were Pres
ident Maurice ID. Rosenberg and Cash
Ter John NJ. Riordon. but the other
officials and directors were also on
hand.
Drug Store Sales Improving.
Peoples Drug Stores, Inc, reports
sales for the month of February
amounting to $5SS,072. compared with
S437,216 for the same month last
year, an increase of $150,856, or
$3.50 per cent. Sales for the first two
months of this year amounted to
$1,172, 203, compared with $S63,S3S for
the same period last year, an increase
of $308.365. or 1910 per cent.
Convention Notices Sent Out.
Notices were mailed from headquar-
tiers Of the District Bankers Associa-
ton today calling attention to the an
nual convention at Hot Springs, Va,
June to II, asking all members of
the organization, as well as the di-
rectors of the local banks, to reserve
the dates and attend the sessions.
Banks are urged to name their rep
resentatives now. These notices will
be in the hands of bankers much
earlier than last year to prevent any
conflict in dates with the regular va.
cation periods.
The March bulletin of the local asso-
citation will be out tomorrow and this
is expected to contain a special appeal
to all bankers to attend the conyen-
tion.<
Capital Traction Goes Higher.
BY making fractional gain Capital
Tron 5nrh L4
Washington Stock Exchange today
when it touched 1878 on a 70-share
turnover
Potomac Electric Power sold at
1854, 40 shares of Washington Gas
Light changed hands at IN, 10 shares
of Riggs Bank brought 466 and 13
shares OF Federal-American came out
at $40.
In the bond division the market
opened with $1,000 sale Chestnut
Farms Dairy 615s at 1881. Wash
ington Gas Is. series B, sold at 1919;
Chesapeake & Potomac Telephone IS
sold at 1OOA and 10013. while Capital
Traction 5s appeared on the board at
1017s.
Essay Contest Plans Announced.
Rules governing the $50 prize essay
contest offered by Roy L. Neuhauser
to all members of the banking insti-
tute were mailed today to the chap
ter's membership. The donor was
president OF Washington Chapter for
two terms. The subject is: why
Corporations, Organizations and AS
sociations Operating in the United
States Should Maintain Headquar-
ters in Washington"
1t will be difficult for the con-
testants to show why corporations
like the United States Steel Corpora
ton should have offices here, but it
will be much easier to give con-
vincing reasons why such organiza-
tons as the United States Chamber
of Commerce find this city especially
advantageous as their permanent
home. The essays must be submitted
Commercial Bank, by March 81 at
the latest. They are not to exceed
1000 words.
Semi-Annual Dividend Paid.
The Security Finance Corporation,
in the Investment Building. has just
distributed checks to it's stockholders
covering the third semi-annual divi.
dend on the preferred stock at the
rate of s per cent per annum, Vice
President James B. Evans announces.
He also states that business so far
during the present year has been ex-
cellent.
Bank President Back Home.
President Robert v. Fleming of the
Riggs National Bank has returned
from two-week vacation and is back
at his desk. He passed two days in
New York, sailed from there to Ha-
vana and after a few days in Cuba
spent the remainder of the time in
Florida.
TREASURY CERTIFICATES.