Evening star., 1928-02-10
NORMENT |SAGA|N
NORFOLKL|NE HEAD
Other Officials Reelected.
Good Year F0reSeen.
Stocks Active.
BY EDWARD c. STONE.

fees The other officers were also re-
elected-D. j. Callahan. vice president
and general manager; Odell S. Smith
treasurer, and Clarence f. Norment, Jr.,
secretary. :,
The stockholders elected these di-
rcctors for the ensuing year: CnarieS
j. Bell Woodbury. Blair, d. j, Cana
han. G.. W Forsberg, Clarence r NOT
n,ent. c. F. Norment, Jr; Wllliam T.
poarSnn r Francis Saul and Odell S,
Smith. ..
The president reported that total net
earnings during the year were slightly
lower than last year, being OF ABOUT
per cent, Business was eNceilenI'
however. the new Hotel Cavalier at
yiroi,,ia Beach having been an impor-
tant factor in holding up passenger
The The directors are looking forward
with great interest to the opening IN
Anril Of the n-Vanderplit at
Old Point Comfort.
International Bank Prospcrs'
THO animal meeting of the share
e,iSerS If tne International Bank mas
.,rSt haen hold. This bank. OF whlch
.Inhr r Waller is president ana Aas'il
= waller one of the vice presidents ~
~. a hank of deposit, but makes
81 Nf,-->tV
s,rnc,slty of investment service. FROM
the STANDPOINT of operations ana earn
;ncs President Waller told the stoeM
l,nIders. the year has been satlslaeuoItt
and exceeded the projected eStuha'es "a
the management. os of lam
nary 10. 1928, showed resources VI o.,
SsI 353 consisting of cash Witu o.l...
hanks. sS8.1l3.35: loans ana '..a,,t oiseuu.,,y
s1I77o33.Ss; bonds and s lnVessA'r..s ~
securiries. Sl15l,629.16; accounts s,ri-
ceiIab.e, Sl7l,728.05: interest," anu nEi,o ING
dends earned. $50, tol.Zo' anu
equipment, S6,89I.4o. orc renorts
,1itoT stock authorized S3,ooo,ooo any
l.an.. ,,,,,ss,e6 81. .7o3 900. The outStallu
sUo,~a ~ 10y totals 81 zoe, 400: surplus anu
see.s ss34 628.97; deferred paynie.lSs,
s"nas purchased, 44,002: colia'etai
- VI SSo4 asa: securities held for GUS
tnr,ers s35o 900. and thrift trust noVeS'
~ waller sees a good year iaciie
x,-e-,,,,,gron 1T should be noted, nc
go .Tnat Washington Is the oills
s,,,n~;rsr city which is practicaliy ~
tenar6ent of unfavorable industrial VI
<or,,,ercial conditions througlous ItIe
Nation Even a general business .N u
,,ress.or, would not materially aNeoe 11ae
nasic prosperity of the CaplIal'
Richmond Bank Ratio Stronger
An increase of SIG 100000 in brokers
80 sor the week ended February was
rer-or.ed go. bv the Federal Reserve boaIo
,ate yesterday. This brought the Uo'ai
n "a s35. .o2O 900, a new hign Tecolu.
A further strengthening OF the feseIse
r.tio of the Federal Reserve BANK Va
s;c,,,,,n,a was revealed in this week .
s+a,e-nent the ratio rising 10 oi;a% EeA
cent from 58o8 per cent TO week PIC
' Total bills and securities held oy dne dne
-, Sacli,ed apuroxinnately ,ooo
oS'.a s,a % Teer TO s59. .e59. 900. The largest
SacI;re was in bills discounted, which
s,ood AZ s26. $50. 900. Bankers accepss
srces nonpf1t in the open market Uoeaoeo nao
sos 5o1 600. compared with s2o.osz'ooo q
u.aelr previously. Compared WITH yeaa
seo roveger. total b.ii hoioings were
SenssderabIy higher, standing az SOL
500 oofl, against s32. .292, 900 on FeOEuAis
0, 1927.
Local Market Strong Today.
uea.v trading on the Washington
CO. Eychange today kept prices up
:" ire recent high level. Capital lrac.
tsoo held at ii47s. Railway pre!e.feo
er,er.ed at 103t. and advanced 70 ioS1a,
1fel shares OF Potomac Electric 5t2 pet
cert preferred sold in one plocK a.
I0ass and Peoples Drug again chaiisou
hands a. l24ss. .., park
s,nckr moved at 3sl, and National BANK
~ washington at $40, closing an eigntn
ntooer Title L. Investment Co. OF MARY
land common came out at DO. Ian aaItS"'n
n 1885, and Barber L. Ross al o3Hz.
The remainder OF the session Wa. Wa
given over 70 bonds. a small Gas
sold at I05zs. Washington kaII"as =.
electric As at s2s. and Warcnan FatK
Hotel 5i4s al 1914.
VIII Attend Baltimore Banquet.
Washington Chapter. A. /. b.. wiii
sen6 a delegation of members 10 une
ANIMAL BANQUET Of the Baltimore CHAP
,sr "a IA. faeIc tomorrow evening. among
tro,se from here viii be !. a. ROBERTS
nead Of the local chapter: I. Huncofi
Ifltn. past president. Charles -. boyer.
caztl,er. Federai-Amer!can Bank: MlSs
LIS A White. Federai-American: MISS
Catherine Kreig, Riggs National, and
Miss M2Del v. Royce, Washington Loan
4 Trust.
number O. out~of-toWn guests VIII al"
tps1c the laral Institute banquet as the
quests Of the wOnen'S committee oi the
chapter ot WHICH Miss Mabel v. Royce
Is chairman. Among these special
g,iests VIII be MISS Hazel Foster ano
Mis- Ethel Norris of Baltimore. Miss
Anne Leslie and Miss Jane Wiiiett oi
PHILADELPHIA, Miss Mary TODD, New
Yofk, and hrs. Ollie Gentry. Richmond
Heard In Financial District.
NcCsoyy Stores sales in January
t1,a!ed 1853 .aIg, against sZ,2s 5334 In
January, 1927, an increase of $50 per
cent
WEDNESDAYS 81 900 bale ia Washing
thrl Ct,uyJ!idatAc Title CO. q per cent
tynds at ;,af Was the first trading IN
this issue s!nce II Was listed Oh The local
ExchaAge
The virginia Carolina Chemical CO.
has dec.aGf6 "a regular quarterly n,9i-
ceqr Of 81 25 on its prior preferred
sDyck, pa yabie March ],
The Southern Railway earned $iz 80
geY snare Oh DJTHnaDn Ia 1927, aa COM
pafec win Si5s4 pr share IN 1926,
fnis shows. hp#eyer. that earnings
were over twice tlae 81 dividend paid
on this *Urk.
Iflt current HlU1tS' ~ 1tpt4ai$ aib
F1-uae. u Wiljcu Aubrey o. Dpoley III the
Commercial National Bank is edibJr, APP
t,eare6 b,day It IL t}iisd With highly
Interesting nlalbef, one ~ The most
timely articles being contributed by
f2en4tos Garter Glass on tff "itfgipgai
Integrity III tie Federai Reserve sys-
ten"
Ijae Maryland Casualty had actua
earnings II siD%o ehate On 400 JDl
&Iiases sz5 par and appreciation Gr
sAeQfItlfs an1Dunhd ~ +! .Shi ,S2s "
1927 GosnDaty's underwriting gain WA
s4I14iD, 81 .gaz ,3Ss csI4t ffpn tlet IN.
tefts1 aud rents ana $IT,ZsG fegrt.
A.ltec profits from tie eaie ~ secuii.
iieK
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