Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-07-14

Joshua Evans Jr placed on the eX-
ecutive committee.
Other officers chosen were George B.
Ostermayer vice chairman of the board,
and r. 3. II. Lyon. counsel Serving
with Moran on the executive COM
mittee will be Sylvan King. B. B. Bur-
gunder, Behrend, w. G. Galliher,
Louis Levay and H. L. Rust. Ralph
| Goldsmith was appointed chairman of
the committee on merchandising activ-
| tiles
Mr.. Evans has taken unusual in
| terest in the work of the local Better
| Business Bureau and his reelection
| yesterday was an acknowledgment of
| this service.
First Half Year on Exchange.
Regarding the first half years bust
ness on the Washington Stock Ex-
! change. the recent financial letter sent
out by Crane. Paris & Co. said:
"On the whole, securities listed on
the exchange were strong and firm in
the first six months of 1928 This was
especially true of stocks of banks and
trust companies, some of which were in
meager supply at new high prices.
Riggs National Bank was particularly
active with sales as high as SGT. Liberty
National, which had a record high of
PAT in 1927, was in demand at 253 with
no stock offered.
'Lanston Monotype, which had a
high of 10 last year moved to higher
levels this year. and. based on its re-
port of better earnings was in good
investment demand around rs Mer-
| genthaler reached high of 111i2, but
is now selling about 10 points below
! its peak for the year due to reports of
recent lower earnings. In the closing
/ months OF last year and early in 1928
there was an exceptional investment
demand for the preferred stock of the
Washington Railway & Electric Co.
"A leSsened demand in recent weeks
has resulted in quotations from to
points below the high of former
months. Washington Gas Light stock
has been one of the most active issues
on the exchange. several large blocks
changing hands at prices more than 10
points higher than the high of last
! year"
b. +. Saufs Committee Makes Report.
A Nationwide study of real estate
I mortgage investments has eliminated
in the publication of a Program OF
! Procedure" by the board of governors
| Of the Mortgage Bankers Association of
| America. The procedure recommended
I ny NilS OOOy II OdSSQ UPON luS
| lished findings of the associations re-
search committee after year of in
veStigation and conferences and will be
applicable to 400 member banks and
investment houses located in 40 States.
According TO E. ID. Schumacher of
Richmond Va, OF the association and
chairman of the research committee.
/ the report is first step toward better
/ understanding of the economic infiu-
! enceS reacting upon the long-term
| financing of rural and urban real eS-
| tate. Within its scope are included
| review of the agricultural problem as it
| affects farm mortgage lending and plans
=, to improve present methods of farm
| appraising. On the subject of apprais-
ing city property the report proposes
! the formation OF mortgage associations
! in each city and the maintenance of
local fact-finding bureaus TO assist in
arriving at dependable valuations.
B. r Saul, president of B. F. Saul &
Co, of this city was member of this
important committee.
Veterans May Utilize Trusts
The action of Congress in amending
the World War veterans act during the
/, closing hours of the last session will
permit any veteran holding a converted
Government insurance policy to pro-
tect II by a trust agreement" Walter S.
McLucaS president trust company divi-
sion, American Bankers Association
says. This means that it will be pos
Sible for any one carrying such Gov
eminent insurance TO have the pro-
ceeds of his policy made payable to a
trust company or bank as trustee which
Will invest the money safely for the
benefit of his heirs and pay the income
from it, or a part of the principal. II
desired, in accordance with his wishes.
In many cases individuals have
wished to combine their Government
insurance with other commercial poll
icies into single life insurance trust
Up until the present time this could
not be done because the Federal law
authorizing Government insurance did |
not allow banks and trust companies |
TO be named as bcneficiarieS.
on April | there were $685. hold /
crS of Government insurance policies /
having total value of 50 1925 100000.
Trade and Other Financial Notes.
The Department of Commerce re- !
ports the per capita consumption Of Ice !
cream last year was 2,S5 gallons Total /
ice cream production in 1927 was S34.- /
703.6l0 gallons or 100000 more than /
in 1926 The outlook for this year in |
0lIaNtN tltaN AtASA AAANAN NAAA w T
reached.
Loew'S, Inc. has declared regular |,
quarterly dividend of 62ia cents ON the |
o. per cent preferred stock. payable /
August Is To stock of record July IS.
The Western Union Telegraph Co, /
yesterday reported net income of |
ST.37S.7 05 for the first six months OF !
1923. against $7.332 0S6 for the CORE. /
spending 1927 period
MAY production tfactory SaleSl of |
motor vehicles In the United States, as /
reported to the Department OF Com |
merce was $4,000, OF which STS,T9S /
We're passenger cars and S0l92 were /
trucks, compared with 4lo 1870 passenger !
cars and trucks in April and 404 IFS in 7
Nav. 1927.
Joseph SchiaVone, formerly president
Of the International Exchanga Bank /
and now head OF the Schiavone Gov !
ernment Departmental Service Is plan /
ming 20 take an active part In the |
campaign, especially IN his home state !
Of New Jersey
John II, Iarner president OF the !
Washington Loan Il Trust Co, leaves /
here TODAY 10 pass two weeks at his /
Summer home III Mifilintown. Pa.
f. w Patterson, for several years
financial editor OF the WASHINGTON Post. j