Evening star., 1928-11-28
PROGRESS IS MADE
. ON BANK|NGFOR
Committee Seeks New Ways
to Aid Banks by Wider
Standardization.
BY EDWARD C. STONE.

| ali UNUSUALLY lulpOIG IGdIlG lSpOAb d1 CAAN
next convention. Chairman Frederick
H. Cox of the Commercial National
Bank has divided his committee into
four sections for considering different
problems. and these divisions are max
ing signal progress.
The fourth book of recommended
standard forms for the local banks will
be one of the best and most practical
of all 1t will present many new sug-
gestions. Many of the ideas advanced
in the others have long since been
| adopted to the advantage of the varl-
Gus banks. When the need of uniform
banking forms was first seen, E. j. Nc
Quade was appointed committee head,
retaining that position through three
years of strenuous work.
In the beginning it was found that
hardly two banks in the city had the
same sized checks. Hardly two had
the same arrangement of the printed
matter One had space for the amount
to be written in one place, another
somewhere else So different were they
that the clerks lost valuable time in
handling them. There was the same
variation in the form of notes, and in
almost all the other stationery used In
the banks. 1t is a different story today
and tomorrow will see still more changes
for the better.
Associated with Mr.. Cox on this COM
mittee are c. D. Ratcliffe, Munsey
Trust Co.; j. Damn Faber, American
Security & Trust; A. j. Linn Federal
American; John D. Howard, Seventh
Street Savings; Charles w. Shoemaker,
Potomac Savings; Frank Owings, Bank
of Commerce & Savings; Edward j.
McQuade, Liberty National; Thomas j.
Groom, Washington Mechanics Saw
ings; Raymond j. Marx, Riggs Ma
tional; E. E. Swan, American Security
iSs Trust: Raymond L. Schreiner, Bank
of Brightwood, and James Trimbie,
National Bank of Washington.
Georgetown Gas Co.'s Net Higher.
The Georgetown Gas Light Co. in its
report to the Public Utilities Commis-
sion shows net corporate income for
October aggregating $10,477.59. This
represents an increase of $2,43675 over
earnings for october year ago. For
The 10 months ended october 81 the
company showed a net income of
| $92, ,437 .48, a gain of $15,231.97 over the
same months last year.
Operating revenues of the Georgetown
Gas Light Co. for october were
| $78,042.95, as against $65,836.28 IN Oc-
! tober 1927 Operating expenses reached
$50, ,632. 10, an increase of $8,702.70 over
| the total a year ago. Taxes were
| $4,903.3 80 in October, as compared with
| $3,02224 in the same month of 1927.
| Operating income aggregated $13,506.95.
| and gross corporate income, $15,54l. IL.
For the 10 months ended october 81,
operating revenues of the Georgetown
concern amounted to $714,622.14,
against $625, ,364.86 in the correspond
ing period of 1927, while operating ex-
penses reached $545, 1882, an increase
i, of SOL ,76326 over the same months a
year prior. Taxes were $43,33364, as
compared with $27,365.76 a year ago:
operating income amounted to $780,
021.63, and gross corporate income was
reported at $141, ,334.56.
Insurance Investments Enormous.
The public is apt to look upon invest
rnent in life insurance from a purely
| selfish standpoint. The individual pays
his premium, and notes what he per-
sonally gets out of it-what accumulated
cash surrender or loan values are his.
| The fact is frequently overlooked that
the millions in the hands of life in
Surance companies are not locked in
| bank vaults but are reinveSted in the
| upbuilding of the Nation.
More than 10 per cent of the total
admitted assets of the legal reserve life
! insurance companies of this country,
or approximately $4,000, 100000, is in
vested in city mortgages, farm mort
cages, public utility bonds and stocks,
and railroad bonds and stocks.
Cleaned in Financial District.
The council of administration of the
District Bankers Association will hold
its regular october meeting this after
noon at headquarters, President Flem-
ing presiding.
President John r. Waller of the In
ternational Bank, has gone to Allan
tic City to pass the remainder of the
lweek.
4 j. William Harrington of w. B. Hibbs
& Co., who is i'll with pneumonia, is re-
ported to be showing steady improve
ment.
Edward j. Hillyer, vice president of
the Union Trust Co., was said today to
be somewhat improved at Emergency
Hospital following a recent operation.
Prices of commodities during the week
ended November "a declined one-tenth
of one per cent, according to the whole
sale price index of the National Fer
tilizer Association.
E. E. Mountjoy of the Washington
Office of the American Bankers Asso-
citation will leave Washington this eve
ming to attend the midcontinent trust
conference, which meets in Tulsa, Okla,
On December and 4.
The new educational program of the
Washington Credit Mems Association
opened last night, with the class in
session in the stock exchange rooms.
Lively Trading on Exchange.
Trading was lively on the local Stock
Exchange on the last session before the
holiday, although prices were little
changed. Potomac Electric Power per
cent preferred closed at 111% and the
51a per cent issue opened at 1089s and
/ closed at 1O85s Forty-five shares of
Washington Railway & Electric pre-
ferred came out at 99B. Washington
Gas Light stock opened at 1057s and
wound up the session with $50 shares
changing hands at LOG.
Bank stocks were rather quiet. Dis
trict National sold at 237, Riggs Ma
tional warrants at 305 and the fractional
shares at the same price Capital Trac-
ton sold to the extent of 20 shares al
1865, same as the last previous sale
Both type stocks were out, LanStor
opening at 118 and closing at an ad.
vance of % on a 33-Share turnover
Mergenthaler opened at los %, advanced
to y and closed at 3s.
Among the miscellaneous stocks
Chevy Chase Dairy preferred moved al
1861. Columbia Sand & Gravel reg.
istered go and Merchants Transfer &
Storage preferred sold at 108. District
National Securities preferred sold a.
102 and 1922, and Federal-Americar
Co. common was especially active, IL!
shares selling at So.
The bond division reported quite
number of sales in Potomac Power
Railway & Electric and Washington
Gas issues Prices were firm.
1t was voted to close the Exchang
tomorrow.