Evening star., 1928-12-22

other members be-
ing William H. Charles e. Howe.
Harper. Washing
ton loan & Trust Co., and S. r. Baui
sir. Security Savings & CommerclaI',
Representatives from % local oank'
were present at the organization HieeI,
ing. The aim of the new Sectlon WI
be to study all problems whlcn Iac' @
the safe deposit departments OF tlt
henks and make their reports to the
cornnlete association. President Roper'
v. Fleming believes that the safe oe,
nosit. trust and auditors sections VII
nroye of. great benefit to the Dlstricl
Pankers' Association and is naturally
greatly pleased with the interest man.
Tested in getting them away 10 gooo
start. ,,;oo
Ianier P. McLachlen. second wee
president of the association, acoeo a
temporary chairman at the organizaCioI
meeting. Earle NJ. Amick, Johh ~
Leonard and J. William Roberts Wers
among those serving on the nominating
committee.
Dividend Voted; Surplus Raised.
The directors of the woodbridge
.Iangdon Savings g. Commercial BanE
have declared the regular semi-annua
dividend of per cent payable on Janu'
arv Is. to stockholders OF record or
December 81. Ao-o,
They also voted to transfer $2,50(
from the undivided profits account tC
surplus. bringing the total OF the banks
SURPLUS to $4,000, thus placing thu
bank among those on the honor roll
having a surplus equal to capital.
In addition a Christmas bonus OF 9
half months salary was voted to eacf
employe.
Food Prices Show Increase.
Retail food price index issued by De-
nartment of Labor for the month ended
November Is showed an increase OF
about one-third of / per cent. TINS
was an increase of a little more than
olle-half of / per cent since November
IS, 1927. Thirteen articles increased
during the month and 18 decreased
Twelve showed no change.
Increases recorded were as folIoWs:
Fresh eggs, 8 per cent; onions, per
cent: leg of lamb and bananas, per
cent: fresh milk. evaporated milk, but
ter, baked beans, canned tomatoes ano
prunes, l per cent, and hens, storage
eggs and coffee, less than one-half OF
! per cent.
The following decreases were shown
Oranges, IL per cent; pork chops, per
cent; round steak and raisins, 3 pei
cent; sirloin steak, chuck roast. bacon
ham, lard and -four, 2 per cent; rlE
roast, canned red salmon, cheese, rice
and sugar, / per cent and vegeVaole
lard substitute, wheat cereal ana tea
less than one-half of per cent.
Insurance Sales Reported.
The monthly survey of sales of ordi-
nary life insurance issued by the Life
Insurance Sales Research Bureau. re-
ports a November sales total OF S122,-
5000. which IS a go increase over
the volume sold in November. 1927. This
increase is shared by 500 of the con-
tributing companies and is distributed
fairly generally throughout the country
For the ii months of the year sales
show a SO increase over the same
months in 1927. The production foT
the 12-month period just ended repre-
Sents a gain of 49o over the produc-
ton in the preceding IL months.
November production of life insur-
ance in the South Atlantic States shows
a4eo loss over the volume sold in No
yenber, 1927. Delaware leads this Sec
ton with a monthly gain of 10. Fol
both the 11-month and 12-month pc
riods just ended the section records q
loss of 1f6.
Washington Chapter Membership.
Washington Chapter, American In
stitute of Banking. now has 637 mem
beTs with dues paid in full, according
to Frank NJ. Perley, chairman OF thf
membership committee. These include
4T0 active members and 167 sustaining
members. This represents an increase
over the same time last year.
Washington Chapter wants 1000
members" says the membership chair.
man in the December issue of Dollars
g. Sense "But we only want thai
number if we are able to secure mem
bers who will work with the chapter.
Road Defers Interest Payment.
Chairman Mutt of the Seaboard All
Line Railway issued the following state.
Ynent Thursday: Board of director!
of Seaboard Air Line Railway Co. votec
to defer the payment of the February /
1929, installment of interest, which L
cumulative. on the adjustment (in
Gomez bonds, which was not earnet
during the six months from May !
1923. to October. 81. 1928, inclusive. th'
interest period under consideration.
Other Financial Notes.
National Thrift week is to be observed
from January II to %. The variou
DAYS to be devoted to special thrift
problems will soon be announced.
The newly organized auditors sectio
of the District Bankers Association
held its first meeting yesterday an
adopted bylaws.
Courses to be resumed at the in
stitute during the second semester in
clude business forecasting, under Waite
H. Dunlap, and analysis of flnanc1s
statements in charge of William Gordo
Buchanan.
President Lanier P. McLachlen {
McLachlen Banking Corporation, vic
president of the District of Columbl
Bankers Association, is now occupyln
his new home, at 4642 Indian Ian
northwest, Spring Valley
c. Med. Davis has been elected vic
president in charge of traffic OF Altar
tic Coast Line Railroad to succeed r.
Brand, who has resigned, having reache
the age of 70 and completed over
years of service.
AS of December l, employees Of Penr
sylVania Railroad Co. held l04, ,355 Shar'
of Pennsylvania Railroad stock pu
chased through two employe organic:
tions. which compared with l03,7l7 {
August /, 1928, increase 638 share
The total also compares with loo, ,545 c
December 81, 1927, showing increase
1910 shares in IL months.
Petition in BankruntcY,