The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1928-05-19
HERE.
PLAN E0R
TRIP
81 RICHARD HATTON


BY RICHARD HATTON
with the tenth annual convention
III the District of Columbia Bank
ers Association less than = month
away ana stimulated BY the pre-.
convention dinner held at the
columbia Country Club this week.
reservations Tor the coming trip
is Montauk Beach are coming n
ii renewed volume to Lawrence
Slaughter. chairman of the
TRANSPORTATION committee.
General Chairman Edward ]. Nc
ouade and the heads Of his sub
committees have practically com:
pieted iii details 81 program. An
interesting group of speakers has
been secured ~ John M. RIordon,
chairman 81 the entertainment com.
Possibly the most interesting ais.
cussions On the history Of these
annual gatherings will take place
IL the Long Island meeting and.
in addition to the serious work Of
the convention exceptional facll,
tiles for golf and other sport will
be at hand. The innovation this
year III going 70 the seaslore In.
stead Of the mountains IS attracting
many who did not attend the con.
vention last year: and an especially
large number oG bank directors u
expected to join with the officers
OG local financial institutions In
response to the modern necessity
FOR the director To keep posted
upon the problems facing exectls
tivks.
President W. W. spaid. who WIN
preside at the main sessions, lis
enthusiastic over the splendid work
being done By the several COMMITTEES
chairman and, with others IN close
nents, predicts that all records will
BE- broken BY the attendance at the
sessions ID be held at the northern
resort.
Dinner for SclIayOne
A number st the close friends Of
Joseph schIavone. who recently
retired from tie presidency 81 the
international Exchange Bank 81
washington, have received invita-
lions from Trenton. n, =. the old
home Of the popular local banker,
to = dinner to be given him Oh
May - ct the Carteret Club. The
invitation pays q high tribute to
Mr.. SchlavOEe's successful career
after leaving Trenton and states
that the dinner Is d Testimonial
70 q former Trentonian whose career
has veflected nothing but credit on
the old town.
MI. Schiavone win leave shortly
Tor an extended visit To Europe.
Weekend trips
a number Sc prominent Washing.
ton bankers LEFT the city, late yes
terday afternoon On the new steam
" District of Columbia Tor the out
Ing Of Temple NOyes "A. =. g "A. N.
They WIN spend the weekend at
Old Point Comfort, returning 70
the city about 10 q III. next Mon
day. A golf tournament ID planned
for today &C Old Point.
Among the fInanciers reported as
Joining the outing are: President
Robert w. Fleming and Vice Pres.
dents George o. Vass ana Hillary
Hoskinson OF the Riggs National
Bank, President John Poole and
Vice President Madame Of the
Federal.Amerfcau National Bank.
President Victor b. Deyber Of the
Second National Bank, Vice Pres.
ident frank stone Of the National
Savings ana Trust Company Ralph
Barnard ana Frank Stetson. VII.
Ham r. Radcliffe r. Master Of the
Lodge.
Concert Demand
President Fernando Cuniberti Of
the International Exchange Bank
has found such an unusual demand
FOR tickets FOR the concert being
WASHINGTON Auditorium under the
auspices OF the bank that he has
set aside d block Of tickets for
distribution to those who are anxious
to hear the famous Metropolitan
Opera stars, Rafael Diaz and Rosa
Low, but who were not included in
the list OF invitations sent out BY
the bank. These tickets may be
procured by calling at the Interna'
tional Exchange Bank any time up
until Z o'clock this evening.
Cities Service Earnings
Net earnings Of Cities Service Com.
Company for the IL months ended
April so, amounted to $31,S16, 1S4,
compared to S27, 558 ,201 for the cor.
responding ia months q year ago,
an increase o. $4,268,533.
Net earnings OF the company were
equal to moro than 10 times interest
and discount on debentures AZ com.
pared with 10 times for the pre-.
vious 10 months period. Net to com.
mon stock and reserves for the IL
months ended April 80, 1928,
amounted to $22, 1879, equivalent
20 26.61 per cent on the average
amount OF common stock outstand.
ing or $50 per share Of $40 par
value common stock. This compares
with SIS ,39l.45S for the correspond.
ing 10 months q year ago, equiva.
lent to 23.15 per cent or $4.63 per
standing.
Loans Recede
Loans ana discounts Of Federal
Reserve member banks receded from
the previous week but were higher
than q yeaf ago. The Federal Re-
serve ratio declined from both the
previous week and the corresponding
period Of last year. Loans to brok.
ers and dealers by Federal Reserve
member banks In New York city
reached another new high point
during the we elk. The index OF stock