Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-01-16
D. c. BANKERS HOLD
MEETING TONIGHT
First Night Gathering to Be
at WiIIard-About $50
Will Attend.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
The local Bankers Associations Janu
airy meeting will be held tonight at til
Willard. 1t has been found that tn
afternoon meetings at headquarters d
not allow sufficient time for the discus
sion and settling of many importan
issues. Hence the innovation of
night gathering at this time.
About $50 bank officials will be pres
ent. w. w. Spaid will call the meeting
TO order at 8 O'Clock. Committee chair
men are likely to present the specia
problems facing their committees an,
1t is expected that final action will b
| taken on several matters that have beef
pending for some time.
/ 1t is far cry from January to tn
/ June convention, but considerable
/ thought already has been given to thi
/ meeting and the heads of all the lead
ing committees will soon be announced
More Annual Bank Meetings.
! The National Savings g. Trust Co
! Will hold its annual meeting of stock
! holders late this afternoon. Organiza
| ton for the coming year will follow
Inc past year is understood to hav,
/ SNS%A AiASSt pARkJSAOkS Will lllIS UdIlk.
Tomorrow is the date for the annua
meeting Of the stockholders of TIL,
! American Security & Trust Co. ant
also Of the Munsey Trust Co. Later |,
| the week some Of the banks which
+ elected directors last week will organic
/ for 1928.
Treasury Offer Expires Soon.
Secretary Mellon announces that tn,
! privilege to exchange the third Libert,
! lean ~ per cent bonds for the new
Sc per cent Treasury notes will expir,
at the close of business next Monday
| The new notes are to bear interest from
January Is and mature December Is
1882. Exchange subscriptions in tn
mails before midnight. January %. vii
be accepted, Secretary Mellon said.
The third Liberty loan natures OF
September Is. Under the present offe
holders of these bonds will receive in
terest in full to March Is because O
their earlier redemption.
Banks Ready for Thrift Drive.
Local banks are ready for the Thrift
! week campaign which opens tomorrow
with mass meeting at Keith's. I,
| the lobby at the theater family bulge
books will be distributed and the loca
banks will give away thousands of thes
same books during the week. Last yea
| thousands Of Westinghouse studied
THESE books closely to locate and dan
up any financial leaks that might b.
blocking the road to independence. I
| IS understood that the banks will keel
the 1923 Christmas saving clubs opey
| until the end of the drive and that the,
| VIII bear special stress on the benefit.
OF opening permanent savings accounts
FROM Chairman Marsh of the nationa
thrift committee comes his suggestion:
Get the banking habit and get on
OF the habit or thinking of a bank a.
mere storehouse of money-a plac,
where only rich men are welcome. I
you need advice in financial matters. M
matter what 1t may be, 60 to YOU
banker Just as you would go to ysu
doctor Tor information on health.
Hoover Lauds Trade Organizations.
Secretary Hoover of the Commerc,
Department considers the recent rand
development of trade associations IS;
fundamental step in the gradual eyolu
tlon OF our whole economic life" II
the last department report ne adds:
In the field OF scientific and eco
nornic research. in statistics In sim
Publications. and Standardization of com
n1odities, In the promotion Of arbitra
ton IN commercial disputes. in deyel
opments Of foreign trade and in score
OF other directions. trade association
have made most valued contribution
TO our economic progress.
While our industry and commerce
must be based upon incentive to tn
individual, yet the national interest re
quires certain degree Of cooperation
between individuals in order that W.
may reduce and eliminate industrial
waste, lay the foundation for constan
1 decrease in production and distribution
costs. and thereby obtain Fundamental
increase IN wages and standards o
living"
Railway Preferred Leads Trading.
| Sixty shares Of Washington Railwa
d Electric preferred led trading on tn
| Stock Exchange today, again selling a
l02. Capital Traction came out a
l09K, Potomac Electric So per cen
| preferred at 1924 while Columbia San.
| and Gravel preferred started the wee
| at l04. National Mortgage 81 Invest
| Ment preferred showed a fractiona
gain when so shares changed hand
at 5i..
Only one bond appeared on the board
Washington Gas 6s. Series A, moving a
| lO5i3. Washington Gas stock is tn,
only issue now being quoted ex-divi
| dend.
Raleigh Hotel Directors Named.
At the annual meeting OF the Raleigh
Hotel Co. the following directors wer
reelected: Edward J. Steliwagen
waiter 3. Harden, Joseph H. Bryan
Edward l.. Hillyer, James Il. Lambie
George T.. Hamilton and William J
| Father,
The directors elected the foliow,n,
ofiicers: z. J. Eellwagen. chairman O
me board; Frank r. Henry. president
Wlliiam l.. Miller. vice president: 4. L
Haiiyer secretary. and w. J. Flather
treasurer.
Heard I'm Financial District.
| Opening Of the new Peoples Drul
Store al Fifteenth and q streets is not
"a With interest by local holders OF tn
stock, which is listed on the Washing
ton Exchange.
| Despite the general feeling durinI
most of last year that the department
! stores Of the country would do well u
hold their own. the report Of the Ma
tioIial Retail Dry Goods Association
| just compiled. shows that the represen
tatlye stores made an average increak
IN 1927 0f ID per cent over the preyi
o1s year IN sales volume.
| Seats on the New York Stock Elk
change rose $4,000 In value durin
1877. which means that they are abou
| doubled la price. Seats on the Wash
ingbon Exchange have advanced IL
about the same proportion. Selling 10
. sears around 5000 and 800, IL Is under
STOOD that the last sale was made a
I fully double that figure
r-