Evening star., 1928-06-06

0SlpClHln OF kIllS
years NEE ting 3N3nsaA----sNaisSza
place was largely l. p McLaehIen,
/ due to w. w
Haynes and E. j. McQuade. who mad
a special trip to New York to view tn
| surroundings. The hotel is bein
opened earlier than usual this year
accommodate the local bankers. AS
accommodates go guests with comfor
the committees began to get worrie
when the enrolment passed the 25
mark
Three guest speakers will speak Q
the opening session. Fred N. Shepher(
John j. O'Connor and COMMISSIONS
Sidney F. Taliaferro. On the secon
day, in addition to several importar
addresses and reports the winners {
the local essay contest for students /
the American Institute of Banking vi
hold the center of the stage. The re
firing president of Washington Char
ter. I. J. Roberts. will preside an
papers will be read by II. T. Bissell
Riggs National: Miss Catherine n
Krieg of the same. institution and job
Hillyard, National Bank of Wash
ington.
Out of Town Guests in Party.
Several bankers from Baltimore an
New York who have Washington afil
iations will poin the party at the con
vention, Among them will be Hay
! waod E. Boyce, Drovers g. Mechanic
| National Baltimore: Merrel p. Gala
way. Guaranty Trust Co. New York
! Artemus L. Gates. New York Trust Co
| arthur B. Hatcher, Guaranty Trus
Co: Theodore C. Hovey. New Yor
! Trust Co., Richard r. Hunter. Equit
able Trust Co.; Ernest T. Love, Chas
National Bank. New York: Howard {
Naeder. Brown Bros. New York
| Haynes McFadden, the Souther,
Banker. Atlanta: Henry l.. Serves:
United States Mortgage g. Trust Co
New York; Edgar L. Smith. Investmen
Manager Co.. New York: e. s. Wolfe
First National Bank, Bridgeport. Conn
and others.
Farm Loan Bureau Re0rganixed.
The bottom of depression In farm
values has passed the Federal Farm
Loan Board declared today in :ts an
nual report. Indications are seen O
turn in the tide and farm values ar,
gradually improving" the report said
While admitting that some Of tn
farm banks had been mismanaged. with
the result that three OF them wer,
| thrown into the hands Of receivers dur.
ing the last year, the board said tina
the farm loan system had demonstrated
Its soundness and usefulness "Thl
mistakes OF the past must serve as les
sons for the future" the report added
The entire bureau virtually has beer
reorganized, the report said, and Spc
cfal steps have baen taken to ref1ec
actual conditions in the reports of tn
banks to the board and public.
Mellon Announces Financing.
Two issues of short-term certificate
Of Indebtedness will constitute the reg
ular quarterly June financing of tn
/ Treasury.
/ Both series will be dated to bear In
i terest from June Is. cne being a
! per cent certificate OF six months ma
turity and the other as per cent O
nine months. The offerings will be 70
/ 0.000. 900 each and viii be used 3
retire s400 ,000.0 900 of Treasury certifi
| Gates Of indebtedness falling due OF
June Is. On this date also S85. 600, 90
+ IN interest on the public debt will be
come payable.
In announcing the financing program
1 Secretary Mellon said the Treasury lex
/ poets at an early date this month TO in
/ yite tenders Of third Liberty loan bond
Tor purchase by the Treasury on &C
count OF surplus money
Annual Bank Outing Planned.
e. J. 6tellwagen. president of tn
! Union Trust Co. will entertain the eni
! ployes OF the bank and of the Thoma
/ j. Fisher Co. at his Summer estate ol
| West River, over the week end TT!
! is an annual event and always locke,
forward 10 with great pleasure by th
employees Of these two institutions. Abou
rs people will probably be present.
The party viii leave Washington
! shortly after the closing Of the bank ol
/ Saturday and return Sunday evening
| In addition To two special dinners am
| the other meals, various outdoor sport
/ win be enjoyed.
| Virginia Bankers 10 Meet.
The annual convention OF the Viz
| ginia Bankers Association opens at tn
| cnamberlin- Vanderbilt Hotel at OIL
| Point Comfort tomorrow and continue
| the rest of the week. This meeting
/! always largely attended and a gtron
program presented
Walter j Harrison, vice president q
the Commercial National Bank of thi
city will join the Virginians at thI
meeting. and George A, Harris, presi
dent Of the Potomac Joint Stock Lam
Bank. Is also very regular at these scs
sionE Several ether bankers were I
attend If the meeting did not confiic
with the Long Island convention.
w0oiworth Sales Improve.
May sales Of r. w Woolworth c.
rose TO s22 1876 ,69l from S20,9i4.300
May last year. and for five months {
/ 1923 10 $i02.B79 ,2se from 500 1850, ,245
the same period Of 1927 The big farm
ing districts Of the Middle West shove
The largest gains for the month. Sail
hi the Denver district gained 22A ps
cent, st. Louis was 10 per cent ahea
and Chicago up l2lz per cent. Thei
districts showed losses last year
Heard In Financial District.
C. a Pope. vice president Of the Nun
sey Trust Co, has gone ~ MontaL
Beach. Long Island ~ make adyan,
arrangements for the bankers CONVEX
tion.
Eliot II Thomson of the Washingtf
Loan IL Trust Co has been made
member of the research committee
the Financial Advertisers Asgociatio
President Robert Fleming Of Il
Riggs National Bank has gone 70 Mo-
taUk Beach In advance 0f the conyel
/ ton
The new $2g 900, 900 Federal Ial
Bark 4 per cent bond issue has be-
ogefsibscribed and the books closed
The Great Atlantic IL Pacific Tea {
plans 10 increase It's stores aroal
/ Syracuse. n. T., from 200 10 500.
. e=-err-zaz-s~-
FOX BROS. INTERNATIONAL