Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-08-22

ton Of the A. B. A. and others includ
the savings bank executive. finance ant
administrative committees.
Monday will BE- a day crows will
committee meetings. The clearing HOUSE
state bank, agricultural. educational
public relations. trust company. com
merce and marine, membership. leeis'a
tive and taxation committees and 9th
ers will meet on that date Ths lis
of speakers at the general sessions /
to BE- announced soon.
Ranks viii Cash Liberty Bonds.
Attention is again called to the fac
that the third Liberty loan has beer
called by the Treasury and that IN
terest stops on this issue on September
Is. There are something over bil'ior
of those bonds yet to be redeemed ane
1t is the opinion at the. Treasury. a
we'll as of many bankers. that grea
number of holders are still unaware
that this Liberty issue is now being
paid of.
The banks here stand ready to casf
these bonds for their customers when
| ever such requests are made. The!
will also purchase any other bonds tina
holders may wish to take in place o.
those being called, either Government
or other sound issues This service oS
the banks will make IL simple matter
to switch into some other investment
before the interest on the thirc
Liberties stops.
/ In case t ird Liberty bonds are beins
held in bank vaults as collateral 1ol
loans. the holders are advised to make
known their wishes regarding them al
once. II they wish the banks to buy
some other issue they must make sucf
requests before the expiration date
| Otherwise the banks will sell them anc
apply the cash on the OUTSTANDING
notes.
Banker Reaches 55th Landmark.
Fred Mckee. vice president OF the
! Security Savings g. Commercial Bank
reached the 55th green on life's goii
course today. handsome flowers on his
/ desk telling the secret 10 the world. He
i received many congratulations,
/ Like many other local bank officials,
i Mr.. Mckee Is a lawyer as well as man.
| cier. He Is vice president OF the Sc
/ curities Corporation of the District OF
/ Columbia. an organization formed In
! 1923 BY the officers and directors OF the
| bank
| Born In Washington August q. 1873,
| Mr.. Mckee got his early education in
| the public schools, later entering the
| Columbia School of Commerce, from
| which he was graduated with honors.
| The desire to study law was too strong
: to be resisted and he answered the APP
peal bv attending and graduating from
the Georgetown Law School.
The bank official is connected with
many organizations outside of financial
circles. among them being the Board
of Trade, Columbia Historical Society.
Congressional Country Club. City and
Civitan Clubs and the Masonic fra
ternity.
Sanitary Grocery Leads Market.
Sanitary Grocery preferred led trad
Ing on the Washington Stock Exchange
today. the stock jumping points and
establishing a new high for the year
at i25. The first sale was 10 shares
at i2i. the next at 1872, followed by 10
shares changing hands at l24i2. The
market then closed with 10 and share
lots selling at 1875.
The DAVIS first sale was In National
Bank OF Washington stock at sos Ten
shares Of Peoples Drug Stores preferred
moved at $685.. Capital Traction fig
ured III a 40-share transaction at i04.
and Is shares of Mergcnthaler appeared
on the board at l00A. gain OF u
over yesterdays close.
There was transfer of lao shares
| OF National Mortgage & Investment
! preferred at AS. Only two bond issues
appeared. Railway e. Electric As selling
at 9234 and Washington Gas SIS, series
A. at 1872.
! Heard in Financial District.
Vice President A. NJ Nevius Of tn
Riggs National Bank, is on motor triI
10 Denver and other points In the West
President Robert N. Harper OF tn
District National Bank is in Albany to
day attending the preliminary exercises
In connection with the Smith notifica
ton.
Audley A. r. Savage, auditor OF thu
National Savings 81 Trust Co. Is on
Of the city on months vacation.
Thomas r. Hickman, vice president o
the Franklin National Bank, was bacl
at his desk today after a months visi
10 Maine.
Lewis A. Mathew, formerly manage
OF the local Office of Harris, Mooney
Co. has been appointed sales manage
and head OF the bond department OF
A. Campbell 81 Co.
Arthur NJ Mitchell. cashier Of the Co
lumbia National Bank, has gone Il
Atlantic City on mis- vacation
Joseph Schiavone, ex-president OF tn
international Exchange Bank Is attend
ing the big doings at Albany today
Institute Speakers Signed.
II was announced today by jane
A. Soper, president Of Washington
Chapter, A. l. b., that DR.. Harold J
Stonier national educational directo
Of the institute, will be the prtncipa
speaker at the educational COMMITTEE
dinner here on September l3
Al the same time IL was announced
that Or Samuel w Grafiin VIII civ
The chief address Of the opening meet
ing ~ the chapter at the Willard oi
September 10 Both these men haV
been heard here before and are brillian
SPEAKERS
Reserve Bank Earnings UP.
| Net earnings Of the IL Federal Re
| serve Banks for first SIX months OF l92
| we're si2 800, 725 This compares wit
| net earnings Of se,G00,0I8 for first hal
Of 1927, Dividends Of $4.i05,24s wer
paid In the first half Of 1923. agains
| So ,s2T .0g4 In same 1927 period Tota
earnings for 1923 period we're S26,429
| 92S. against $20.4l2,375 In 1927.
II Heavier rediscounting by membe
hanks 81 higher rates was responsible
for the larger earnings.
Regular T.. a. o. Dividends Declared.
II The Chesapeake IL Ohio Railwa
Co has declared regular quarterly diyi
dend OF $3.50 on common, payable DC
tobe 10 stock Of record September
and regular semi-annual dividend I
s325 on Series A preferred, payab
January 10 stock Of record Dacembs
la
Il Eastman. Dillon A. Co, which MAR
tains a Washington ONCE at 1912
| street, yesterday opened new Offices