The Washington times., 1928-09-07
1. |. B. COURSES
WILL START
SEPT. "A
By RICHARD HATTON

DIV AtAGANAMD AAAAAOAN N t6
Announcement BY Chairman a. p
l7enxe OF directors Of the several
first term courses Of the educa'
kional committee Of Washington
Chapter, American Institute OF
Banking, brings the activies Of the
local organization to the fore ! in
financial news columns. Accord
ing t6 Mr.. Henze. who also is
second vice president Of the chap
Ter, the following instructors viii
kake up the several scholastic
courses when the fall term opens
"a September "a: Or. Eliot "A.
thomson. Phi. ID, L. i. D.. WASH
fnrton Loan and Trust Co., Bank-
Ing Fundamentals; Raymond e.
Dicl<ey. Commercial Law: Bolttha
Laws. Negotiable Instruments;
u. ]. Donohue, Standard Economies
II. u. Booker, Investments; p.
AshBy Leayell, Merchants Bank and
Trust Co., Trust Functions; III y.
Mcouaae. Liberty National Bank.
Credits. There win also be an
added course in Business English
and Letter-writing. THESE COM
prise the work for the first
starts Sept. IA
Three courses win start at the
fIrst school session on September
Il. These are: Commercial Law;
standard Economics and Invest.
meats. The schedule Of remaining
courses win Be announced later.
Preliminary to the opening of the
rall educational term. the chapter
win hold an open meeting In the
small BAH room Of the Willard
Hotel III s B. M. September -, as
which President sJanaes a. Soper
Vim presIds and at which certifi-
eafee covering last years courses
81 study viii be presented together
with the several prize awards. The
principal speaker at this meeting
win Be Samuel Graflan Of New
York.
The regular complimentary din
her given BY the educational com.
mittee to the chapter faculty VIII
Be held at the Raleigh Hotel on
D.
fionaf educational director of the
American Institute Of Banking, Will
bs guest 1T this dinner. MT.
StOnier Il well known to Washing
ton Al. i. b. members and always
Has something inspiratiOnal In the
message he brings from national
headquarters.
Central Investments
In contrast with many months
ii the past two years, which pro
duced rec0rd-breaking volume Of
new Investment financing. August
showed the amallest total foE any
month in the last five years.
New note and bond ofEerings in
August totaled only s1eS, 963. 200.
according tn the compilation oE
Lawrence Stern and COMPANY.
Chicago investment bankers. This
compares with offerings Of $473.4e4,
500 in August. 1897, and s2sS, as, 500
M July. 1928.
The fall-off in last months financ-
ing was chiefly at the expense q
foreign offerings, In which class
there was not single new issue.
Railroads also failed to produce
single new loan Less than $12,-
600 900 OF industrial issues were
brought out on the market last
month. In the public utility field
there were offerings totaling G7,.
$40 600; this was the only classiti (
eaten 70 show an increase over.
July. 1898.
THE total OF ali offerings for the
eight months OF 1928 amounted to
44,714,ee3 400 compared with $5,4l9s-
$50 200 for the corresponding Pc
riod In 1897. This IL a decline OF
about ID per cent.
Last months offerings. exclud.
Ing tax-exempts, included only %
separate issues. This compares
with 1877 such issues offered in Au-
gust a year ago, and with 173 IN
July, 1928. There were only 20
major issues OF a million dollars
or more released in the market
last month compared with So in
July, 81 in June, and 108 I'M May.
McLAchIen Returning
Archibald McLachlen, secretary
and treasurer OF the McLachlen
Banking Corporation. Is expected
hack today from a months vacation
IN Connecticut.
Frederick p. H. Siddons, secre.
4ary Of the American Security and
Trust. is on a two weeks vaca-
ton.
Thomas j. Groom, Of the Wash
ington Mechanics Savings Bank,
left yesterday on a months vaca-
tion some of which will be spent
On the Gulf Coast. after which he
will visit his home In Mobile, Ala.
Herbert l.. Davis, formerly audi
] tor OF the Superior Court Of the
District OF Columbia. IL now aaso-
cfate editor of Trust Companies.
one of the leading financial maga-
zines OF the country.
Miss Mabel v. Royce, OF the
washington Loan and Trust Co..
chairman OF the women's com.
mittse. washington Chapter, A l.
-. yesterday announced appoint
naents to her committee as follows
Mrs.. Judith M. Fishburn, Com
mercial National Bank, vice chair
man: Hilda NJ. Shomo, Washington
Loan and Trust Co secretary
Mrs, Laila Sloat. National Metro
politan Bank; Mildred Woodcock
American Security and Trust Co.
Esther Lau, Riggs National Bank
Eleanor Dankmeyer, Security say
iags and Commercial Bank. ant
Alice II. Whitton. First Nationa
Bank, Alexandria. Va.
LIVERPOOL COTTON
T1TNERPOOI, Sent IA moder