Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-08-10

+ June, 1927, the to- A "A
! tai was 27.06l - ia
/ For the same pc $A
#riod. l92l-i92S, ~ 49,
percentage of banks @zSsS&A- IN
which are members Claude H. Weedwar r,
! Of the system has
( increased. The figure in 1921 was 3
| per cent, and in 1928 it had risen to 3
/ per cent During the same period tn
resources of the Federal Reserve syster
increased $i3, 703, 942 600.
In point of members, the Chicag
Reserve district leads, with l,274 mem
berS. Kansas City second. with 96l
New York third, with 934 In total re
/ sources New York district leads. witt
/ S14249 500 600. and Chicago is second
with S6.OS7 $50 000
summary in the Wall Street Journa
shows that the Richmond Reserve BAN
has SOL members. 81 693 .20S. i.346 on
in loan and investments and total de
posts of 81 ,336.646.
Gov. Young Discusses Credit
Gov. Young OF the Federal Reserv
Board said in Pittsburgh Wednesda
that production and trade Throughout
! the country are greater than a yea
ago and have been we'll maintaine,
SlilIt GARY Ill illS SGut.
Member bank credit and borrowing
at the reserve banks have declines
somewhat from the high point of tn
first of July" Mr. Young said, blu
the amount of credit outstanding ha
continued to be in unusually large vol
ume for this season of the year, ant
money rates remain decidedly firm.
Activity Of iron and steel mills il
July was maintained at higher leye
! than has been customary for tina
month. Automobile production Ia
been in large volume this Summer, an'
employment at Detroit factories is nov
larger than at any time since tn
Spring of 1926
Bank President Back at Desk.
Claude II. Woodward, president o
the Mount Vernon Savings Bank, wh'
returned few days ago from month";
vacation. is back at his desk Mr.
Woodward spent the month at Oh
Orchard, Me, which boasts Of one o
the finest beaches on the Atlantis
coast. Yet it takes some nerve 4
plunge into the breakers there. as tn
salt water along tine Maine coast !
none too hot. Mr.. woodward report
G fine outing and. incidentally. 1t We
Tie llfSk IGdl NdNdtiOil iAoN NAAtN'
he was advanced from the vice presi
dency to the presidency of the Noun
Vernon Bank.
Elected to Vice Presidency.
The board of directors of the Inter
national Exchange Bank has electei
Frank j. Kaufman a vice president
according to announcement today b
Fernando Cuniberti. president Of tn
bank. Mr.. Kaufman has been cashie
of the bank ever since its organization
and will continue the duties OF cashie
along with those of vice president.
Forum Committee Completed.
The institute committee which vii
take charge Of the forum dinners TO b
held next Winter has been completed
by I. j Roberts. the chairman. his as
sistsnts being Miss Esther r. Lau, Rigg
National: H. w Burnside. Farmers &
Mechanics; r. H. Cox. Commercial Ma
tional. and T. H. Keith. Security Say
ings g. Commercial 1t is probable tn
committee will arrange for about fou
dinners, after which some specia
speaker will take up some new flnancia
problem for the particular benefit Of in
stitute students.
3tUfk NkdtNN
Week end trading on the Washington
Stock Exchange was quiet today. The
session opened with Is shares OF DIS
trict National selling at 244. Two hun
dred shares of National Mortgage &
Investment preferred came out at 4h4
up a fourth from the close yesterday
The only other stock changing hand
was Security Storage, 10 shares going q
100
In the bond division Capital Traction
SIS sold 10 the extent of $4,000 at i02.
| 81 900 Chestnut Farms Dairy 6i2 solt
at los while baby Washington Gas I
came out al l04
Cleaned In Financial District.
The July sales Of the Peoples Drul
Stores. Inc. aggregated s933,703. com
pare with s679.899 year ago. an IN
crease Of 37.33 per cent In sever
months sales totaied S6,l30,085 agains
/ s4,427,35i, an increase Of 3844 per cen
over 1927.
/ James G. Dublin. jr. assistant treas
uret Of the American Security IL Trus
/ Co. has returned from two-monI
/ trip To Alaska He had a remarkably IN
/ teresting Journey travelling by raj
water, air and even being let down int
some mines In buckets.
Harry L. Selby. cashier OF the Farm
ers 81 Mechanics National Bank i
/ Georgetown, Is taking few days yaca
! ton
The State Department has approve
a credit of S25 900 900 from j. p Nor
gan IL Co. 10 the Bank Of Spain for tn
+ purpose Of aiding In stabilizing the cur
rency Of Spain
The Federal Reserve Board report
substantial gains in retail trade durin
july The Richmond Bank which take
IN the Washington area. was fourth
The list showing gains.
At Yesterdays meeting in New Y0r
Of the General Motors directors III
regular quarterly dividends due at tn
time we're declared
Stockholders Of International Pap'
Co, are being reminded TO deposit the
stock under the plan which conten
plates the formation OF Internatloni
Paper and Power Co. as new hoidlt
company The final date set for depoa