Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-02-03
9TH AREA RESERVE
BANK PROFITS SAG.
S229,934 Drop Shown in
1927 Report-Expenses OF
Institution Are Lower.
BY EDWARD c. STONE.

EmlNary annual report OF Gov Georke
!. Seay being S497,7ll last year. com.
pared with S72764 in 1925,
Gross earnings were S2.oS6.3o2 and
were exceeded also in 1925. when they
tntaleo s242aoi7 The balance added
70 surplus after payment Of dividends
was not much more than third the
sum retained IN 1926, amounting 10
<l?54Sl last wear and $3.50. IS. the year
before. This brought the banks sur
cIus Up TO slcc23. 667 on December 81
1927.
The report shows that total bills dis
counted il, the fifth Federal Reserve dis
t~.ct dropped considerably below 1926
end were almost half those Of 1923
The shr!nkage Of this factor IN the
hanks earning assets was attributed
chiefly to slower business activity in the
district
Red!scounts in recent years were:
1927. $500 $50 255. 1925. S2.132 649.-
SIS: 1925 s2.c65 22S 33l: 1924, sl357.-
1856. 1923, s29lo6s6 500.
While discounts were at the lowest
Level since 1924 bankers acceptances
purchased increased considerably. ris-
ing 10 sl6i.ol7,ii3 from $ss.22o,eo6 IN
1925.
Gov. Seav reported that the amount
@. work handled by the bank was the
hcayieS; IN the history OF the lnSttu-
ZION. The expenses Of operation we're
about $4,000 lower than in the preyi-
GUS wear. II the clearing house opera
tons the bank handled 52,S59,oo0 items
New Bonding Agency Launched.
The Interstate Bond & Insurance
Agency. Inc. recently organized under
;re laws q. the District Of Columbia,
70 90 a general surety bond and in
s,;rarce business has been appointed
general agent OF the Fidelity & Deposit
Co. az MARYLAND.
Col. Joseph F Randall. president OF
the agency. has hao many years OF
experience in the surety bond and in
sirsnce business. He is graduate OF
the National University Law School and
during The World War served in the
Army Ar Service. Associated with him
IS manager is Dr. Llewellyn Jordan. for
many years chic. Of the section OF
surety bonds o. the United States
Treasury. This agency viii handle all
lines Of insurance.
Institute Has Over 200 Members.
For the frs, time in the history Of
Washington Chapter. A. I. B., the men,
bersiiip has passed the 700 mark.
The student enrolment for the Sec
ord semester has reached 2Ie. The
-
inE the total student body for the year
number CSC. which is new all-tine
record. passing the previous year by
about 30 students actually taking the
courses
The local chapter has just been sig
nsliy honored by the national organ
tza.ion Richard W Hill. secretary, and
Harold Stonie- the new educational d.
rector. have just been In the city in
-Ssh Or syS @f fHn
text books because Of the passage of the
McFadden banking act. Among those
selected TO assist in making the re-
visions were two members of the local
faculty, r J. Donoilue and Eliot H.
Thomson. r. H Mckee. president Of
the National Capital Bank. also has
been asked 10 serve on the committee.
Fifth District Ratio Declines.
An increase Of s27.l35 600 was re-
ported oy the Federal Reserve Board in
brokers loans for the week ended Feb
ruary /. This brought the total up TO
s3si5.s20 600 compared with s2,73o,-
OCT 900 OF February 2. 1927.
The reserve ratio OF the IL banks
combined declined 10 the slight extent
o. i3 per cent. standing al 73.7 per
cent
In the local fifth district the same
and purchased increased approximately
$1,000 600 irf a week. The Richmond
banks ratio varied only slightly from
tie previous week. standing at So 0a
per cent. yet vas exceptionally low COM
pared 10 that OF the system as whole
Heard In Financial District.
Arrangements for the annual banquet
OF the Washington Association Of Credit
Men are being pushed vigorously. This
event takes place on Saturday. March
:. and not n February. as has been
previously stated. Stephen J. Miller,
the new national director. for whom the
banquet Is 70 be given. already is widely
known here and vas formerly educa-
tioral director o. the American Institute
Q. Banking.
Francis D. Barlow OF J. p Morgan &,
Co. has been elected 10 membership on
the board OF directors 0! the Home Life
Insurance Co, according 70 announce
E1ent yesterday by Il r. BryaYly &,
Bro. managers Of the Washington Office.
The GunnSly Co. reports for 1927 q
ret profit Of si0S 200 after all charges
and taxes. equal 70 81 cents share
armed o.. 80 600 shares Of no-par stock
against S2fo.7 s4. or 81 50 share. earned
n 1925. Net sales in 1927 were
g. s32 81.
Baltimore bank clearingx in January
tot&led sts5 0Sz 0ss02. This represent
sd cecreaze u t2z sz3 $50 under jan
usryt 1927, ws4eta c.eariAgs amounted 70
sfSs 10 9sez2,
Capital Traction Market Leader.
Capital TFaction again tDok the lead
81 . highly interesting local market
tpdzy. Every sale was mace It lI47s
an eighth iower than yesterday The
Guys turnover tolalec an even 100
ghsrts IN tge transactions
Columbia Sand H. Gravel was very
sctlYe. opening a. io< and closing al
I01's or nine sales involving Is shares
EsnIzry Grocery preferred made ney
h.gn y i2sn il closec a. i0e.
Twelve shares d American Securit,
~ Trust SUR solo q, Us recent prize .,
$50. while Washington iIosn ~ Tr1s'
IN. atocE entered neT hign 9founc
8E1ru 80 si4zres 1oic al 500. later I'd
SspIsng " 1oI.
Washington Gs. sic a. ssie, Potonlat
Elef4glc Power S ~ per- cent pfefFrree
q, 1nS;. National Moflga2e 4. Invest
nleslt preferred W ~ So and IsaiiSal
o. Eaects1c preferred a. I0> iAnsoDt
registered 30ts
T. ,i.e Do4c d.gls49n Wssh.ngvJr
ta54SzY IL Electric g. came out ~ 81 /.
Va es5iHgDof GSs III 1ggleG 4 mora 3
.Og arc 81 901 transaction ~ Ward
snzr fark Eoh. 5 - tpok p'Aee - 50 y
Tae three recent p~% LSllEgs Aa"'
vet ~ feoor6 their first salts On tn'
fEcGsCge
RETAIL sass score KffoTd
Flsaa sales IL cepsf'mest sbJTes
nsj. og1eg houses arc fl4sIn stOfts -
,yYgt3ny " tne Pe6frsI Reserve hys'@n
xefa lager ~ DecemD@r 'hsn III ~
corfei<Jsdsng month ~ any pffYioD
yesf ne Fecffa! Reserve Epsfc IA
!fJIf.ffE.
pr las yfss Isz1 ~ . stloi' cep% II
r1erp E1yfe sSlet KPgA about ne SAM