The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-07-01
BONDED DEBT OE
STATES RISES
By RICHARD HATTON

The bonded debt Of the State gov
ernments OF the United States ha.
increased $2S7.S71. 144.O4 in the past
two years and every man. woman
and child in the country now owes
on average of $15.75.
These facts are brought out in q
nationwide survey lust completed
by the Bank of America, New York
which reveals that the State govern
ments of the United States have a
total bonded debt of $1.846. 113 .577.72
The New York bank says:
Nearly half this huge outstand
Ing debt has been incurred within
the past five wears and in the past
two wears alone more than $685.
100000 worth of new bonds have
been issued. while some $6S,000, 900
worth have been retired.
Highways Responsible
''Highways and bridge construc-
tion is responsible for 45.2 per cent
Of America statistics have found.
Actually 1894. 467,05S worth of
bonds outstanding have been issued
Tor this purpose, which is significant
Sn view of the comparatively recent
large scale building of roads. Sol
diers' bonuses account for $271 .52S,.
900. or 14.7 per cent of the total out
standing debt. while waterways and
harbors comes third in the list OF
purposes for bond issues. with total
OF 1922. sos. 500. or 12.1 per cent.
Only 1.9 per cent of the total debt
represents expenditure for educa.
sional purposes.
For the first five months of the
current year. the WASHINGTON branch
OF the Acacia Mutual Life Associa-
ton stood second on the list of
branches in the volume of placed
business. being exceeded only by the
Chicago Loop office. the associa.
Gion's largest branch. The amount
placed during that period bv the
Washington office was $1,260, 900,
while the Chicago Loops record
was S1,449.S00.
The very newest thing in the way
of stock boards has recently been
Installed in the Washington office
of Dean. Onatavia & Co., in the
Woodward Building. The board.
which is one of the largest in the
city and which is so arranged and
handled as to give an accurate sur
Ney of the trend of the market as
well as the last minute quotations.
was originated by members OF the
Dean, Onatavia staff and il creating
considerable local interest.
The twenty-five delegates who will
represent the Washington CHAPTER
A. LIB. at the coming convention
of the American Institute of Bank
Ing in Detroit have held a final
meeting in which all details of the
trip west on the special train have
been arranged.
Announcement has been made that
the Bank Women's Club of Wash
ington will meet in the board room
OF the Federal.American National
Bank at 8 D. m. Wednesday eve
ming. July 6.
President Lanier P. McLachlen of
the McLachlen Banking CORPORATION
left today by motor for East Hamp,
ton. Conn. where he plans TO spenu
q months vacation.
A. H. Reside. manager OF the
local offices Of Dean, OnataEd'
Co. will spend the coming week emu
at Ekton. w. Va.
Vice President c. H, Pope. OF the
Munsey Trust Company. left Thurs.
day tor a months vacation wnlch
he will spend in New York State
-------
Wire President Edward j. NC
o,,aIa ~ the Liberty National Bank.
caiIa +odav from New York for
five weeks vacation in Europe.
The Commercial National Com.
pany is making an offering Oh
5000 600 Washington Investment
Trust first mortgage three-year'
s per cent notes on the CentrdI
Savings Bank Building, IN WnI .'
savings and Commercial Bank will
Iooofod