Evening star., 1928-05-29

w ~ s..,s Whereas during
| his administration
as president of the District of Columbis
| Bankers Association, william w. Spalc
| has devoted generously of his time anc
| efforts in the promotion of our organi-
cations best interest. and by his num-
erous accomplishments has thereby en-.
| deared himself TO the entire member
ship.
| therefore. be it resolved, That the
members of the association hereby eX'
press their gratitude for the hearty CO.
operation which he has brought about
and for the progress achieved, ana VIC
| hereby attest with the signatures o.
those members. attending the week.. ,si,
meetings grateful appreciation OF nj:
untiring efforts on behalf of our or
ganization'
Mr.. Spaid was deeply moved by tne
| tribute and briefly expressed his graft
| tude. The attendance at tOdays lunch.
con was unusually large and the sue
cess of the present administration was
| the subject of most fiattering comments
! Passage by Congress of two measures
of vital importance TO the local banks
and requests for more complete f1nan.
| cial statements from firms borrowing
money from banks. are among the out.
standing achievements of the associa-
Ttion during the year.
Final Convention Reports Made.
At a meeting of the committee chair
men arranging for the coming session
at Montauk Beach, held last night a.
| the RACQUET Club, z. j. McQuade, gen.
eral convention chairman, presided.
It is now known that the attendance
viii surpass that of last year, which
in turn, made new record. Completion
of the program was announced and al
| the entertainment features have beer
arranged
The last call for the convention Ia.
i been sent out by George 0. Vaas, chair
man of the publicity committee. Res.
ervations must be in the hands Of Law
renee a. Slaughter not later than Sat
urday, June 2.
Railroad Revenues Are Lower.
The statement OF operating revenues
and expenses Of the Seaboard Air Lin'
shows Tor April total operating reve'
| nues SIS, ,128. 1889, decrease OF S553,
1878; operating expenses. $3,668 ,877lo
a decrease of s431, ,658,2l, and net reve'
nue 81 ,469. .458.79, a decrease Of $l2l,
469I7 Gross income was Sl,2l6.203.4O
i a UEEIEd6E III N<sgS&s1C- AISNAGSs UAAA
other fixed charges OF 81 .010. 1862 Wer'
| g4o. .254.66 more than in April, 1927.
For the four months period total op
Grating revenues were $50, Gil s846.72, o
| $2,349. .a23.99 less than last year. Op
Grating expenses totaled SIS, 5,272. .434.37
a comparative decrease Of 81 ,940, ,745.14
| Interest and other fixed charged callet
| for $3.50. .38S. 80 more thar they did las
year, increasing that item TO $4,O12,
l79.49.
Tlle Atlantic Coast Line Railroad re
ports q drop IN April net operating IN
come 10 81 .06O, ,003. from 1892, ,579 Z
year ago. Net for the four months
| this year fell to S4,8o0, 400, from
s7,OS5, ,055 In the previous correspond
| ing period.
ed q net railway operating income 10
April Of S3y0e4, $50. decrease Of $3.50,
| l34 oyer April. 1927 Net operating IN
come for the four months totaled So.
! 1910 against 812,962,7l last year
decline OF s3.625. 100 from year ago
Local Securities Hold Firm.
Prices were steady ON the Washing
ton Stock Exchange today. Capita
/ Traction figured IN a 42~sf1are turn
| over, closing at i03Iz. Potomac Elec
| tric Power So per cent preferred cam
out at i071s and the s per cent isSu'
! sold at 1119s.
washington Gas Light opened a
| 95iz and closed at 955z. trading reach
| ing ~ shares. Thirty shares OF Lanstoi
| M0nOtyoe moved al 1854. A tlrnoYe
| OF go shares of National Mortgage q
Investment preferred was recorde'
| at 5ss.
The bond market opened with ;
/ ff 600 sale IN Chesapeake h Potoniai
| SIS at l00lk. Potomac Electric CorlSol
| dated SIS sold At l04. A $1,000 transfei
| i1l Washington Gas Gs. series A. was re-
| corded al i06. while the n bonds nloves
CHEVY Chase Dairy preferred hal
| inaen added 70 the list Of local Stoci
| selling ez-dividend. Others are LaflS
| tor. Sanitary Grocery. Washington
| Convention Hall, the Potomac Eiecirl'
PoweY issues and the Washington Rail
| way 81 Electric issues.
The exchange with be cloSed ton1or
row.
Heard in Financial District.
All the banks iu Washington ant
also the brokerage houses Wll be cloSc'
tomorrow, Memorial day.
Wholesale prices declined one-tenn
| of / DER cent for the week ended Ma
Zg. according 70 the index compile
by the National Fertilizer Association
Advances occurred IN grains, feeds an
I've stock, gasoline and petroleum an
the minor metals. These advances Wef
more than offset by declines In tex
Ties. fats, hides and suipilate OF am
Ega0nsa.
b. d. Rosenberg Joseph Eander
Ivy. A, Bennett, irwin Owings, Fran
OwingS Albert IS, Gatley. Louis E1st
IN. q. Elliot and Jesse Ergood. official
in the Bank of Commerce and Saving
! have returned from fishing trip
WacllapTeagt1e, Va, They report fe'
FISH left.
oscar Coojiean. head ~ the local oi
fees of O. III. r. Murphy IL Co, b.
been ln Detroit attending neetiD
~ distributors and several stOckfloidfi
| of the Packard Motor Go,
The specsal con9n..ttee which. D1Gf
the auspices of tf1e Chamber Of Con
rnerce n 'he United States, IL maxim
q study Of the cl,intFy's banking an
1 currency structure, especially the 0I
Grafton of the Federal Reserve system
| Will meet a1 chamber EIea6quarlel
! Jgane 4 and g. Invitations have bee
extended " representatives Of banksul
finance. agriculture labor, cofnnleff
and other feds of business activity
participate IN the committee discussion
s~z~az~zss-rs sss~~ss~ss~---@s
POTATO TRADE GOOD.