Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-09-14

Ill. Comm ercial h2sas<zzs asssss
National Co. pre- Louis T. McFaddcn.
ferred sold at los.
Federal-American Co. common opened
at 401s and closed with 45-snar'
block selling at Al. District Securltle
Co. preferred figured in 25-share SAL
at 1922. National Mortgage d Invest
ment preferred sold at 41s on I5o
share turnover.
Bonds were active at recent levels
Potomac Electric Consolidated IS sole
at 1O2; Washington Gas IS, series A
at 10434: Gas IS, series B, at 10734, ant
Railway g. Electric as at 92A. Capita
FRACTION SIS, recently so active, figured
in two sales today at 101. Among the
unlisted issues there we're two sales II
Park Savings Bank stock at 80.
wardman to Entertain Bankers.
1t is announced that about 200 sales
men and officers of Halsey, Stuart &
Co. investment bankers, will be II
Washington tomorrow as the guests o
Harry Wardman. While here they vii
be taken on an inspection tour of SOM
of the larger hotels and apartment
houses which make up the Wafdmar
| interests.
In connection with their Washington
| visit. invitations have been sent out K
a large number of local bond men ant
other financiers to a breakfast to b.
! given tomorrow morning at o'cloci
F! at the Carlton Hotel The out-of-toWr
visitors will come from Halsey, Stuart's
offices all over the country.
l. AS reported elsewhere in today's Star
! their visit is in connection with tbs
! Forthcoming Wardman bond issues in
volving an $11,000,0o0 and $2,50O,00C
offering.
Young Bankers Honor Faculty.
A brilliant address by Harold Stonier
| educational director of the American
Institute of Banking, featured the an.
nual dinner at the Raleigh last night
rendered the institute faculty by tht
educational committee of the loca
chapter. Mr. Stonier discussed the
work of the faculty, the greater science
now required in banking, the value o.
| higher banking education and the aim.
| of the national association, all his re.
marks being of intense interest.
A. E. Hence, local educational chair
man, presided. The members of the
! faculty who will conduct this years
courses added much to the occasion by
brief remarks. The chapter president
/ "A.
years faculty will include Raymond B
! Dickey, instructor in commercial law
Eliot. H. Thompson, banking funda.
mentals; Bolitha j. Laws, negotiable
| instruments; F. j. Donahue, standard
! economies; Y. E. Booker, investments
| B. Ashby Leavell, trust functions, ano
Edward j. McQuade, credits. All Of
| them conducted the same courses last
| year with great success.
Members of the board of governors
were also guests, among them being
! Harold w. Burnside, Miss Winifrec
! Burwell, r. Jesse CLANCY, Aubrey o
Dooley, T. Hunton Leith, Raymond P
| Lochte, Elmer O'Hara Miss Mabel V
Royce, Alfred T. Sherman, Carrot M
Van Hoesen and Robert C. Whittcn
The educational committee, hosts al
| the dinner, including the following, II
addition to Chairman Henze: Frank M
Perley, vice chairman; Rose L. Royce
secretary; Mildred Woodcock, H. w
Burnside, l. j. Roberts, T. Hunton Lelth
A. o. Dooley, r. H. Lacey, Robert E
Lee, r. A. Norris, Edward G. Steffe anc
Robert G. Whitton.
National Mortgage Makes Report.
The National Mortgage & Investment
| Corporation, 1904 Vermont avenue, has
mailed to stockholders a report as Of
September S, signed by James P. Schlck
vice president and general manager
The letter states that in order tx
strengthen the financial condition Of
the corporation it has been deemed
wise not to declare dividends at present
The statement adds that the company
has been obliged to purchase under
foreclosure a large amount of real estate
on which it held mortgages. This rea
estate is being disposed of as rapidly
as possible, consistent with the stock
| holders interest, in order to reacquirt
| the capital invested therein.
The directors announce that the com.
| pany is making encouraging progress
/ The condition statement of June 80 re.
! ports loans of $2,743,724; accrued in.
terest. $83,827; accounts receivable
/ S33,812: real estate owned, $1.094.10
! investments. $247.500; cash on hano
and in bank, S113,956: treasury. stock
| S89,434 making total resources OF more
| than SIS 100000.
! The other side of the sheet shows
liabilities of ST ,485, 1903, capital stock o.
$3057,747, total capital stock and sur
plus of $3,319321 and deferred income
of $408,023.
McEadden A. B. A. Convention Speaker
1t is announced that Louis T. McFad
den, chairman of the House committee
on banking and currency, will be among
the speakers at the annual convention
of the American Bankers Association
in Philadelphia next month. He viii
address the clearing house section OF
a subject of special interest to tina
body. Mr. McFadden's efforts IN be
half of the so-called McFadden bill
relative to branch making made him ;
national figure in the banking worlt
for several years
AS already stated, Roy A. Young
governor of the Federal Reserve Board
/ will be another speaker at the sam
convention.
Cleaned in Financial District.
Eugene E. Thompson, senior partne
| in Crane, Paris & Co., has been electe,
| director in the newly organize,
Curtiss Flying Service Corporation. TIL
board held its first meeting in Ney
York yesterday.
Judge Mary O'Tcole will be tn
speaker at the annual dinner of tn
l women's committee of Washington
Chapter, A. 1. B., on September 10, tn
chairman, Miss Mabel V. Royce, an
nounced today.
II Walter E. Birch, assistant cashier c
the International Exchange Bank,
passing his vacation at Wayne, Pa.
Controller Mcintosh has permitte
the Marshall National Bank of Marshal
Va, to change its name to the Marsha
National Bank &, Trust Co.
II Representatives of the grocery in
dustry will confer at Chicago october
to formulate trade practice rules fo
their industry, the Federal Trade Com
II mission announces.