Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-09-12

98l4. while SIS shares of Chestnut Farm!
Dairy preferred sold at 107. Potomac
Electric Power 6 per cent preferred
came out at 1922. Barber & Ross
common sold at 25 and Commercial Ma.
tionai Co.. moved at l04 and los.
Mergenthaler Linotype was active in
small lots. The stock opened at l00l4
went to - and closed at l0012 Nor
folk & Washington Steamboat stock
changed hands at LOG. One of the last
sales of the day was one share of Riggs
National Bank stock at 526. an advance
of 8l2 points over the last sale.
Treasury Issue Ovcrsubscribed.
Secretary Mellon announces that the
recently offered issue of $525 ,O0O, DOC
nme-month Az per cent Treasury Ger.
tif1cates has been heavily oversub.
scribed. Preliminary reports indicate
subscriptions aggregating $3.50 900 600
Subscriptions received in the mails
up to 10 O'Clock this morning we're tt
be accepted. The subscription books
have now been closed. further cash pur.
chases being stopped and also subscrip-
tons that might be paid for with FUNDS
from the third Liberty loan Az pei
cent bonds.
Secretary Mellon stated that allot.
ments on the subscriptions will b;
made at an early date at which time
full details as to the basis of allotments
and the final amount of the aggregate
subscriptions will also be announced.
Institute Plans Given Boost.
About so members of Washington
Chapter, American Institute of Bank
ing, attended the annual consuls dinner
last evening at the Raleigh. when Rob-
ert V. Fleming. head of the District
Bankers Association. was the guest of
honor. The consuls are connected with
the various local banks. and it is their
duty to arouse their associates to the
Importance of taking special banking
studies.
The institute is sponsored By the bank
ers' association and Mr.. Fleming assur-
ed the members of the continued sup
! port OF this organization. Harold D.
! Kraft. who recently organized an in
surance school here. and is very active
| in his line of business. gave a most
/ interesting inSpirational address. James
A. Soper. chapter president, spoke, and
A. E. Hence. chairman of the educa-
tional committee, outlined the courses
for the coming year.
The courses for the year have been
enlarged and the faculty will be strong
| Cd tIAd1i CFCl. LIE Il6W SuDl6CLS Will
| give added zeSt to the work Chief
Consul Robert A. Norris presided.
Finds Europe More Prosperous.
6. Bowie Chapman. resident partner
)f Hartman & Co.. who has Just reach
ed home from 10-week trip abroad,
found considerable improvement in
economic conditions since his visit there
last Summer. He reports an apparent
eduction in unemployment and declares
that in the territory he visited there
are very few traces left of the World
! War.
Germany is especially prosperous, Mr..
Chapman states, practically everybody
being at work. The harbors are par
ticularly active. The Washington brok-
er n>otored through Switzerland, Ger
many. Austria, Czechoslovakia, north
ern Italy and several other countries.
Another passenger on the Majestic
on the way over was Edmund S. Wolfe.
former cashier of the District National
! Bank, who Is now president of the
First National Bank at Bridgeport,
Conn.
Mortgage Company Dividend.
The directors of the Federal Security
d Mortgage Co., at meeting yester-
Gay afternoon. declared the regular
quarterly dividend of per cent on the
preferred stock. according to announce
ment by Morris Cafritz, president II
is payable on September 80 to stock
holders of record September Is.
Inc mortgage companyS directors
include Mr.. CafritZ Harry NJ Crandall
George w. Huguely. Morris Gewirz. E
t. Chewing. Charles A. Goldsmith. w
w. Griffith, Paul Himmelfarb. Vernon
6. Owen, M. D. Rosenberg, j. B. Shapiro
and James E. Smith
Other Recent Dividends.
The Washington Mechanics SAVINGS
Bank has voted the regular auarterl,
dividend Of 4 per cent, payable October
l to stock of record September 20.
The Chestnut Farms Dairy Co. viii
pay the quarterly dividend of "a pei
cent on preferred and l per cent or
common stock on September Is tt
shareholders of record on September /
The Capital Traction Co.. in connec-
ton with the present quarterly divi-
dend, has notified the Washington
Stock Exchange that the stock transfer
books will be closed from September Is
to September 80.
Heard in Financial District.
| NCoiBC W. N0SS, NICB dIlU
cashier of the Riggs National Bank, is
taking his annual vacation
A. Al. Nevius. another vice president
OF the Riggs Bank. has returned from
an extended trip through the West
and will be at his desk next Monday.
Charles J. Bell, chairman of the board
OF the American Security g. Trust Co.
will sail from England a week from to-
day. after spending the whole Summer
abroad.
Harold G. Cummings of Washington
who has recently been in the New York
office of Spencer Trask g. Co. New
York. is now associated with Irving &
Johnston in the sales department.
Louis Rothschild. director of the
Better Business Bureau. is to leave here
Saturday to attend the annual conven-
ton of the National Better Business
Bureau commission. to be held at Chi
cago. September 1921. with headquar.
tiers the Edgewater Beach Hotel