Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-08-14

Damn Fabcr, Amer lSAAEzs
lean Security & Il. Golden Donaldson
Trust J Ezra Troth. Chevy Chase
Savings Bank. Harry L. Selby, Farm.
! ers & Mechanics; b. Agee BoWles Pc.
t0mac Savings. and Miss Mary j. Win.
free, Continental Trust Co
This IS one of the associations i'm
portant committees, and Mr. Poole has
been chairman Of 1t for several wears
On several occasions in the past the
committee has pointed out to the loca
banks where they were losing money
and suggested more efficient methods III
management
Board Reports on Land Banks.
The Federal Farm Loan Board re-
ports that the Il Federal land banks
had net earnings in the first Sin months
If this year before deducting amounts
charged off 0u account of depreciation
Of real estate owned of S46S6. 40
against S4,S70.450 for same period i'll
1927 June earnings were S678. 70s
against 81 .05S,653 for June. 1927.
Loans closed in first six months of
1928 totaled s62, 9S6, 700. against $685.
$4,000 in first six months Of 1927.
Total bonds authorized as of June 30,
1928. were 81 1853 047 I40, with SLIGO. -
TAO 400 Of this amount outstanding
Total loans closed by the so Joint
stock land banks for first six months OF
1928 were S244l2, 500, against $50
600 in first half Of 1927 Loans closed
during June. 1928, were $3.50. 100,
against s6.205, $50 for June. 1927.
Total bonds authorized by these banks
were s595.l7l 900. of which s59I, 1856 500
were outstanding Earnings are net
reported.
4 r,,r;,,c- l., e~rt 81. ,,,o,,+l,r So, ~, J,
+ 10 Federal intermediate credit banks
totaled S5222 $50. against S522,734 in
same period of 1927. Earnings for June.
/ 1928. were SIS, TAO. against s96.lol in
/ June. 1927 Total outstanding deben-
lures we're sac, 425 900.
Cleaned in Financial District.
r. Golden Donaldson, president of the
! Commercial National Bank, leaves here
| today for vacation at Saranac Inn.
New York. The bank president will re-
main in the AdirondaekS until after
/ Labor day.
/ w. w MARROW cashier of the Second
National Bank, has returned from his
/ vacation spent at Mountain Lake Park.
/ President H. w Offutt Of the Poto-
I mac Savings Bank is another local
( financier who is on vacation.
! j. Frank Campbell, vice president of
/ the Anacostia Bank. has returned from
an extended trip to Denver and the
Yellowstone National Park.
j. Leonard Townsend of the Chevy
| Chase Savings Bank has returned to
| his desk from a two weeks vacation
| in New York and Atlantic City
! Alexander Wolf, general counsel of
| the Bank Of Commerce e. Savings and
trust officer of the Second National, has
| arrived in Paris on a tour Of several
weeks in Europe.
Fernando Cuniberti, president of the
| International Exchange Bank. is back
at his Office after spending several days
| in New York on business.
! Miss Mary j. Winfree, secretary of
| the Continental Trust Co. was among
! those caught in the storm While mo-
| toring to Richmond Saturday she had
/ to drive through water so deep that it
| covered the floor of the car. She
reached the Virginia capital, however.
| but had to leave the car there, reach
/ ing Washington at 5 am. Monday on
| a train which carried 10 extra dav
| coaches filed with stranded motorists.
Record Session on Exchange.
Todsv's session of the Washington
Stock Exchange made record covering
sion this year. only five stocks and one
| bond issue appearing on the board.
Fifty shares of Chestnut Farms Dairy
| common sold at 81 Washington Gas
sold of 10 1884, for single share, Po-
fon1ac Electric sig per cent preferred
moved at 108. and 20 shares of Norfolk
& Washington Steamboat Co. sold al
Dos.
In the bond division there were two
$1,000 sales in Washington Gas SIS
series A, at 10334 The market CLOSED
with twO-share sale in the unlisted
department of Raleigh Hotel Co. STOCK
al 100.
Loans Reach New High Marks.
The Federal Reserve Board an.
nounces that loans and investments o.
all member banks of the Federal Re.
serve system on June 30 reached a new
record total of s35, 493 900 900. an in
crease Of 81 1854 100000 since Februar!
%. the preceding call date, and Of 81
SCI 100000 for the year.
Broker to Entertain Financiers.
w. w. Spaid OF w. B. Hibbs 81 Co
will entertain at dinner tonight at tn,
Willard several members Of the Chimes,
government mission now In the United
States including G. C. WI special rep
resentatiVe Of the Nationalist govern
ment; Sun Foo. minister Of reconStruc
ton and the son of the founder o
the Chinese Republic, Sun Yat-sen: M
r. Wang, president Of the Central Banl
Of China and financial adviser To tn,
mission; Frank w Lee. special repre-
sentative Of the Marking foreign Office
and r. Lee Guam Elliott II Thompson
Y of the Washington Loan h Trust Co
4 wall also be a guest MI Wang IS on,
n Of the foremost bankers Of the Orien
4 and is making a special study Of tn
B Federal Reserve system in the United
states.
Reserve Board Has Meeting.
For the first time since August
4 there vas quorum Of the Federal re
A serve Board members, with Gov YounI
a Vice Cows. Plat, James and Cunning
4 ham and Controller Mcintosh presen
4 al Monday mornings meeting
The Seaboard Air Line Railway ha
asked Interstate Commerce Commits
sion for authority 10 ISslie S57l 900 {
its first and consolidated mortgage
per cent bonds. die 1915 to reimbur,
is treasury for expenditures MADE
retiring equipment trust obligation
Authority also was requested to pledf
the bonds as collateral for short-terl
notes
4 Hardware Age VIII say this week thi
demand for Summer hardware Is vel
active. and most firms are repoFtir
better July sales than year ago viii
August Is also expected 10 pass Angus
1927 Building Is maintaining health
condition, prices are notably steady al
collections fair.