The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-08-02
l. c. BANKERS.
ON VAG.AT IONS
Bx RICHARD HATTON


By RICHARD HATTON
Interest rs being manifest in
financial circles ID the plan Of the
National Mortgage and Investment
Corporation 10 retire $500 pre-.
ferred shares. purchased in the
open market by the company. and
representing. according to a recent
statement, profit Of s5e.Ol4.4s and
also e issue one share 81 no par
common stock for each 10 shares
OF common now held.
It Is said that officers Of the
company feel that this plan, which
comes before the stockholders at q
special meeting called for August
~, will further strengthen the or
ganization,s financial position.
Recognized as q company which
has been OF vital assistance In tina
uphutlding of the city through its
aid to builders and others 1t Is
confidently believed by officials that
the contemplate capital structure
REIMBURSEMENT win place it In a posi-.
ton to be Of even greater service,
President Peter; A, Drury Of the
Merchants Bank and Trust Com
pany.s spent the. weekend at his
country home at Bluemont.
J. william Roberts. manager Of
the Fourteenth Street branch Of
the Security Savings ana CONNER.
eial Banks Ii away on q vacation
which viii include d visit 70 Blue
Ridge summit and Cane May, n. J.
There VIII IS j meeting cf the
board of governors of the Washing.
ton chapter, American Institute
OF Banking, at the home of Vice
President james A. Soper, the eve.
ming q August 10.
Manager q, s. See. Of the Ninth
Street branch OF the District Ma
tlonal Bank. Is on a. motor trip
through Pennsylvania and New
York.
Frank r. Morse, manager Of the
Washington office of W. & J. Sslig-
man q CO.. ie on his way to Europe
where he viii spend several weeks.
Vice President G. H. Pope. of the
Munsey Trust Company, has re-
turned from "a vacation spent in
New York State.
Vice President James A. Baden,
Of the Commercial National Bank.
Is planning an extended motor trip
through New England.
Eugene g. Thomson, OF Crane,
Paris & CO.. has returned from a
business trip TO Philadelphia and
New York.
Miss Loretta Ennis. Of the Sec
ond National Bank. has returned
from vacat ton trip taken 40 the
conclusion Of the A. I. 3. convefl.
ton in Detroit.
In lts general survey or economic
conditions, governmental finance,
and United States securities, the
National City Bank Of New York
referring to the bond market. says:
1T is almost inevitable that such
an unusual outpouring of new Sc
curities should have produced a
temporary congestion in existing
channels Of distribution. The diff.
ficulty came right at a time, when
the volume of. new financing and
the level of prices were both at
their peak. For time many syn
dictates held to the belief that a
steady distribution would remedy
the situation. Later many syndi
Gates were dissolved. the corrective
reaction thus being accelerated and
the market generally being freed
Of issues supported at artificial
levels.
The reaction has now apparently
run rs course and bond prices are
on ai more stable basis. The re-
sumption Of buying so much in evi.
dence during latter days OF the
month promises to gain momentum
rs investment funds again re.enter
the market" 4.