Evening star., 1928-09-10
PUBLIC QUESTIONS
BEFORE BANKERS
List of Speakers and Topics
Announced for Coming
Convention.

Inc program OF tfle American Bank
ers' Association annual convention a
Philadelphia, october / to 4, which
to be attended by large delegation o
local bankers. under the leadership o
Harry V. Haynes, president of tn
Farmers & Mechanics National Bank
was announced today by the association
to include questions of general publi
moment, such as the farmer problem
the presidential campaign and chang
ing business conditions, as we'll as tech
nical bank questions.
Among the bank problems will b.
included discussions on credit, tn
spread of group banking, bank taxation
and bank administration.
Speakers Announced.
The program as announced by F.. N
Shepherd, executive manager of tn,
association. shows that among the lead
ing speakers will be: Thomas r. Preston
president American Bankers Associa
ton, president Hamilton National Bank
| Chattanooga. Tenn; Edwin A. Alder
man. president University of Virginia
Charlottesville, Va; James A. Baciga
lupi. president Bank of Italy Nationa
Trust & Savings Association, San Fran
cisco; H. L. Russell, dean College O.
Agriculture, University of Wisconsin
Madison, Wis; Roy A. Young, governor
Federal Reserve Board; L. T. McFadden
| chairman committee on banking anC
currency, House of Representatives
Leonard P. Ayres, vice president Cleve
land Trust Co., Cleveland, Ohio. anc
j. w. Mcintosh, comptroller of tn,
currency.
Title Company Perfects Plans.
The newly organized Capitol It'll
& Guarantee Co., John Paul Earnest
! president, which is perfecting it's or
ganization prior to opening formall
! october l. is already receiving applica
tions for business, but is turning then
away, it was learned today. The ar
rangementS on which officers and NOR
than 100 employees are now busy, hav
been In course of preparation for abou
| three and half years, and it it ex
pected that when the Offices are for
mally opened in the Chandler Building
1925 to 1927 I street, on October /
the company will be prepared to Civ
immediate service" on both title Ger
tif1cates and title insurance.
Business Outlook.
Confidence in the business outlook fo
/ the rest of 1923 is expressed by tn,
monthly review of business in the cur
rent issue of the American Bankers
| Association Journal
IF any one still holds misgivings a.
| to the outcome of American business ir
the year 1925" says the Journal" ar
| examination of the principal element.
visible at this time should inspire {
great deal of confidence.
Industrial production is we'll main.
tained, with automobiles and truck!
making record, steel operations ex.
panding at firmer prices, building con.
struction to date 8 per cent ahead of las
year, metals and machinery active anC
the only seriously unfavorable spots be.
ing woolen and cotton goods.
Retail trade is becoming more active
and merchants are reported to have
thoroughly cleaned out hot-weather
! goods and to be making Autumn and
Winter purchases with conservative
optimism, the free placing of forward
orders being particularly noteworthy
The election year bogie has so far had
little effect on trade
Money Rates.
| Money rates continue firm. but the
supply of loanable funds is ample ano
statements of the reporting member
|
total loans and investments temporarily
stabilized at level only per cent
above one year ago. Sentiment is fire.
quently heard that present rates are
higher than justified and that an even
1ng-down to correspond with interna-
tlonal interest charges Is to be expecta5
"PSofits for the half-year of 800 large
manufacturing and merchandising cor
porationS aggregate per cent better
than last year and the majority of the
group show increases.
Crop forecasts were raised in the Au-
gust estimates so that the proable wheat
and corn crops will not be less but more
than last year, while excellent fruit
| crops are expected.
Tone of the stock market is stronger
Considering the breadth of this market
today and the relative quietneSS that
has prevailed since Nav. the recent bid.
ding up of selected issues is not sur
! prising.
Bond markets are still quiet and new
underwritings the fewest in years, but
steady accumulation of new capital is be-
! ginning to bring about a recovery in
prices, and in time will have the further
| effects OF reducing brokerage loans, low
ering interest rates and inviting new
offerings"
Institute Board Meeting.
The first meeting of the board of con.
suls OF the Washington Chapter, Ameri.
can Institute of Banking, will be helc
tomorrow night at the Raleigh Hotel ir
the form of dinner meeting to inau.
gurate the season and lay plans for the
coming year. Richard A. Norris of the
Lincoln National Bank, who is chie1
consul, will preside. Harold D. Kraft
Will be the speaker of the evening
Robert v. Fleming, president of Rigg.
National Bank, has returned from va.
cation at Ocean City, N. j.
John M. Riordan, executive vice presi
dent of the Bank of Commerce anc
Savings, returned to his desk today aftel
his vacation trip to Canada.
d. C. Stock Exchange.
Trading on the Washington Stock
Exchange today was active, with Wash.
lngton Gas bonds leading in volume
Gas 5S sold on rising market of 10;
to 103ls on sales of $4,000, while tn;
6S A OF the same company were in de.
mand at 103. 1892 and 10412, the last
block going at 1892. The stock solt
at 97k.
Mergenthaler picked up a bit. risinf
to 100, after 36 shares had turned ovcl
at 997s. Chestnut Farms Dairy pre-.
ferred started off the market at 1857
and rose to 1057s.
National Mortgage and Investment
preferred changed hands in two block.
OF 100 shares each at 47s, and People.
Drug Store preferred went at 113.
Capital Traction SIS were steady a
lOl in a single transaction of $25,000.