The Washington times., 1928-03-22
BANK INSTITUTE
IS PLANNING
CONTEST
BY RICHARD HATTON

The announcement of the subject
\ Tor the essay contest held each year
for members Of Washington Chap
ter, American Institute of Banking,
/ by the District Of Columbia Bank
!. Sts Association, Is q matter rof in
8eEest-to those members of the local
institute chapter who contemplate
the preparation of papers for the
contest. The official announcement
Wa8 made late yesterday afternoon
that the subject selected by the
council OF administration this year
Is THE establishment and Opera
ton Of q Credit Bureau"
The contest is open to all A. l.
3. members in good standing in the
local chapter who are in the en-
ploy Of member banks Of the asso-
citation, below the grade Of cashier
or treasurer
Itsfs not the idea Of the associa-
ton to have the chapter members
MeFelop III this subject theories re-
Karding the necessity for a credit
bureau, but to have them confine
heir efforts to = practical sugges-
lion and describe the machinery
necessary for the establishment and
operation Of a credit bureau for
general use OF the banks in Wash
ingt0n.
One to Be Printed
-@s.Tt Is interesting to note that this
E3ar only one OF the winning essays
that receiving. !. first place in the
0Ninion OF the judges-will be pub
1fHhed III the printed proceedings of
TIE convention; however, the three
students whose papers rank highest
viii ne sent by their banks to read
then papers before the convention.
VVashington chapter in the near
future viii send out full details
be this essay contest and 1t 10
hoped that d large number or
those eligible win enter the con-
test this year.
Tt seems reasonable expectancy
that d per cent y. s. Govern
maent credit level may nlaterialize
some time before 1880 Or 1882.
accordffig to G. r. Childs and
Company, specialists in Government
securities. Debt reduction since
the war has been rapid, and with
the continuance of q similar pol.
1eT by succeeding administrations
there undoubtedly win be an in
6rea IN the demand for the ball
ance outstanding.
The sinking fund annually plays
DEFINITE part In reducing the debt.
re is the largest dependable factor In
effecting the annual reduction, auto
mafica1Iy increasing In size and
power and Importance each year.
The transition Of rates to per
cent basis viii give the holders Of the
Ions term Treasury bonds the great
est benefit, since they must advance
In price more than shorter term
bends, a. the investment yield or
al issues declines toward q per
cent return.
Tribute to Banker
The financial district still is
ringing with enthusiasm over the
splendid tribute paid to President
Joseph Schiavone, OF the Internar
tional Exchange Bank, at the ban-
utaeE In his honor given by the
board Of directors Of the institu-
ton Tuesday evening. The affair
was glowing tribute to the, pop
ularfty of the guest Of honor.
Mr.. SchiaSone at4flDl1nced yester-
day that he, was contemplate an
extended trip and long rest in the
near future. He expects to spend
sOrae time in Florida and later go
abroad. where he viii pay long.
promised visit to his mother and
other near relatives in ITALY.
me total number of General
HEoturs common and preferred stock
holders for the first quarter OF
1898 was "a. g86, compared with &C.,
900 In the fourth quarter of 1927.
The board Of directors OF the
Merchants Transfer. and Storage
Company has declared the regular
ksIarterly dividend Of SITE per
Tl1are payable April i to stockhold-
arr OF record March %, 1928.
See page 10 Today's Times for