Evening star., 1928-04-20

{
/ during the week.
/ The board of governors voted 10 fol
I low New York and suspend traa,ug OF
/ the exchange tomrrow. This 'ct'on i
! 10 give the brokers a chance TO catcl
/ up with their local orders. one membel
! humorouSly remarked.
Ss,0O0. GOO, Saved for Farmers.
c. G. Randen OF the Department o
| Agriculture has made a brief Summar
of the accomplishments of co-operativ
live stock commission associations oper
ating at terminal markets. and note'
the following results:
They have. since 1917. saved the farm
erS III reduced commissions and u
amounts paid back to shippers as caSl
refunds approximately $4,000. 900, mad
possible by the large volume OF bushes
| handled. In 1926. they handled on al
average I6 per cent of the animals soi'
on the markets where they operated.
At some markets they have worke'
with traffic departments of railroads Il
secure better service and more con
venient schedules, and with local ship
ping associations 10 secure better load
ing facilities. Stock yards have oeel
! improved in favor of the small shipper
TRANSFORMATION and claim department
have served shippers. Claim depart
ments of three co-operativcS in th'
four wears from 1928 TO 1926 collecte'
more than 100000 for shippers withou
a service charge.
Margin Requirements Increased.
Many large commission houses ar
increasing their margin requirements
believing that such action is Just1fdeS
by the recent sweeping advances II tn
main body of stocks. Another flrn
with Washington Offices has announced
to clients that they win open no new
accounts under 81 900. and will enforct
the following general rules with re
gard 10 margins:
on issues priced from 10 TO 147s,
points margin: Is to PAS. points: 2
to 2e7s, 8 points: 80 to 345s, points
and IS to 39ys. 10 points. On issuei
priced at 40 and up, Is per cent O.
market price
On the following issues, the require,
ments with be: 33 Ia per cent, Genera
Motors. Hupp Motor. Byers. Collins 4
Aikman; 30 per cent, American Linseed
Baldwin Locomotive, Case Threshins
Machine, Curtiss Aero. du Pont. Hous-
ton Oil. Vanadiun. Wright Aero ant
Greene Cananea; so per cent. Radio.
Notes in World Of Insurance.
Current figures OF life insurance sale
are interesting IN that, almost withou
exception. companies are reportinl
large increases over the same month
Of last year. one or two companies. II
fact. reporting sales larger than eve
before in their history.
The Italian Geographical Society ha'
arranged with the principal Italian In
surance companies for policies upon tn
lives of Gen. Umberto Mobile and th'
members of the crew OF the dirigiblG
Italia, which is now in the first stage'
Of an extensive polar flight.
Realizing that the average high schoo
boy or girl is uniformed on the i'm.
portance Of the service life insurance
and trust companies can render, tht
Tribune Of South Bend, Ind, has an.
nounced an offer Of S575 in cash foI
the best IL essays on the subject. ''Thi
Value OF Life Insurance Trust"
Brokers Loans Up Si34.53l 900.
Brokers loans jumped si34.53l .O0s
to s4.129, ,00l 600. new high record fol
all time, 1t was revealed In the week.!
statement Of the Federal Reserve Boarc
issued after the close of trading yester.
day. For the first time in history th'
weekly total, which is usually abou
$500 900 900 under the aggregate 81
loans compiled by the New York Stool
Exchange, passed the four billion -doilal
mark.
Becomes Resident Manager.
j. G. Corkran, who has been connect
ed with the Washington ONCE OF G.
Childe e. Co, investment bankers, TO
ffVraA RNne hSanea aaFarsfFzfHA FNEfGasa
manager for this territory, wi1!ch ais
includes Maryland. Virginia and Nortl
Carolina. Mr. Corkran Is well known Il
the local financial district, having com
here from the company's Baltimore Of
fee several years ago. The firm special
ICES IN Government securities and ma
Offices in the Southern Building.
Local Brokers Get Holiday.
With the New York Stock Exchang
closed tomorrow. the local brokers Ell
| JOY a holiday. The New York Office
| viii be open, as the STATS viii be- bus
| in catching up With their records fol
| lowing 80 many days Of enormous trad
| ing. But by some tall hustling tn
| Washington brokers have kept up wit
their business 50 that they can rest.
| was reported here today that the Eatur
]
tomorrow, but until further notice.
| Is time when some Of the local Oank
| efs wish they were o! 1ker5.
Cleaned In Financial District.
| Howard Moran and Harry v. Hayne
who have been attending The Sprln
meeting of the executive council of III
American Bankers Association, will
back al their desks Monday.
w W. Gpaid. president Of the Distrit
Bankers Association. h In New York I
attend the annual meeting 0f the otIt
of~t0wn section of New York Stock Fl
change firms, Mr. Spaid Is membf
of the executive committee Followln
the business session the annual bangus
takes place tonight
I'he Virginia Carolina Chemical Coz
poratiOn has declared the regular quai
teriy dividend of IA per cent ON III
prior preferred stock. payable June /
stock ~ record May IG.
The Fichmond Bankers hgs0ciati0
is running an advertising campaign re
atiYe ~ the pr0pfiety Of placing a aefs
ICE charge on chscking accounts Whe
they get below d certain figure. IT
icea IL the same as that carried Oh
by d group of local banks two yeaI
ago
T., II. NountlDg, deputy manager
Washington of the national bank div
sion Of the American Bankers Associa
tion. has gone from the conference 1
Augusta, Ga. 10 Chattanooga, Tenn.
sttend 8 trust conference nov bein
nela In that city.
The Pennsylvania Railroad Fspor
that there hsg been widespread iHtefe
IN the l2K per cent stock allotment /
par and although stock Ii NOT undeI
written, II Is evident from inquiries b.
Ing feceiye1 that the issue of S62 80
900 will he taken uD by the stoci
holders
The announcement IN the 10 editif
N last nights Star that the Tedisc0iIl
rate had been raised IN Boston and Ch
eago caused unusssl interest IN ioe
financial circles,