Evening star., 1928-02-08
BANKERS SEEKING
MORE NOTE DATA
Howard Moran Made Head oi
Committee to Probe
the Matter.
BY EDWARD c. STONE.

| BY EDWARD c. STONE.
An important special committee @
the District Bankers Association ha
Just been appointed by W. w. Spaic
president, in connection with the move
ment to obtain more complete data re
garding notes offered for collateral pur
poses and to secure certificates of title
Howard Moran. president Of the asso
citation last year. has been made chair
man of the committee and anothc
member is Francis G. Addison. jr.. VIII
brought the matter to the attention o
the Washington bankers at the annua
convention at Hot Springs. Othe
members of the committee includ'
Frederick H. Cox. H. G. Hoskinson. Al
fred H. Lawson. B. F. Saul Paul SlemaI
and Frank StetSon
The resolution calling for committe,
action read: Resolved that 1t is tn,
sense of this meeting that machiner,
should be put In operation to enable
the banks TO obtain promptly and with
out too great cost adequate data regard.
ing notes offered for collateral pur.
poses and to secure certificates of title
and that the president appoint com.
mittee to work this out"
Before the next convention the new
committee will no doubt confer Will
the title companies and have som,
practical results to report In the pas
local banks have experienced consider.
able difficulty in obtaining these certi.
flcateS of title, and in a special address:
on the subject Mr. Addison pictured
the situation so clearly that immediate
steps to remedy conditions were
! favored.
Special Tribute Paid c. J. Bell.
Current issue of the Security News
published by the staff of the American
| Security &, Trust Co. is devoted
especially to Charles j. Bell. who has
now been at the head of the company
| for IS years.
| When he took over the reins or
January "a. 1893, the company hac
been organized but a little over three
years. Its capital of $l.250.000 anc
resources OF over $2.800.000 have
enormously increased The capital to.
day is $3,400000 and the resources
s38. .00O. 900.
/ His record is presented in the bank.
!
review Of his banking career the pub.
lication contains a page of cartoons b,
Clifford K. Bergman presenting Mr.
| Bell in his less serious moods In
these cartoons he appears as a motor
ist. golfer. corporation director theatei
ian and as an angler telling one OF
his biggest fish stories.
Bonds Active on Exchange.
Bonds were strong and active on the
Washington Stock Exchange today
The market opened with Washington
Gas IS, series A. bringing 1861. after
which sales the B bonds came out at
109i2.
Wardman Park Hotel 5las opened at
95 and later advanced to 96ia on q
turnover of $4,000. Washington Con-
solidated Title Co. IS sold at 100. and
Potomac Electric Power 6s at l09.
Barber g. Ross 6l2s opened at 94a4 and
advanced to 95. There was a $4,000
transaction in City & Suburban SIS
at 100.
Capital Traction opened at ll47s and
closed at II. Lanston moved up to 100
Peoples Drug registered new high at
l24 and Sanitary Grocery moved at
l067s. Sand & Gravel moved at f05H4
Potomac Electric Power 5i2 per cent
preferred changed hands at 108ia. un-
changed from Yesterday. Just at this
time Peoples Drug is the only stock
on the list being quoted ex dividend.
Brahany Master Of Ceremonies.
Thomas w. Brahany of Crane. Paris
e. Co. has been asked to serve as mas
ter OF ceremonies by r. Hunton Leiih.
chairman of the BANQUET committee for
the annual dinner Of Washington Chap
ter. A. I. B. Mr.. Brahany has agreed
to serve
Frank ]. Hogan will be toastmaster
Mr.. Brahany will manage the rest Of
the entertainment Just what the en-
tertainment will be has been kept a
secret. I. is planned TO make this
years entertainment program different
from anything that has preceded II.
Wholesale Prices Lower.
For the third consecutive week aver
age Wholesale prices in the United
States declined. according TO the index
OF 449 price quotations compiled In this
| city by the National Fertilizer Associa-
| ton. Last week the index dropped two
| ffths OF ] Der cent Six groups de-
| clined and five advanced. The declines
were textiles foods. miscellaneous COM
| nodities. building materials, fats and
| glycerin. Advances were recorded In
gasoline, fertilizer materials mixed fer
| tilizer. metals. grains. feeds and live
| stock.
Lower Rates In Effect Today.
The Federal Reserve Board announces
| that 4 per cent rediscount rates went
into effect today al Boston and Dallas
these reserve banks having followed the
action taken by Chicago. Richmond and
| New York
FEDERAL reserve banks still maintain
| ing the 3i2 per cent rate are at Kansas
City. st Louis, Philadelphia Denver
aNd Atlanta
Consolidated Plan Ratified.
Consolidation Of Sterling Products
| Inc, and the United Drug Co, two oi
the largest medicinal and drug con-
Germs In the world. has been ratified bS
the >Eterling Products Stockholders al
| Wheeling. w. Va. The fate OF the her-
| ger will now be decided by the United
Drug stockholders at meeting Febru.
ary IL.
Hardware Trade Picking lip.
Reports from the hardware trade ir
| general indicate optimism for businss,
10 be expected in the first three month.
of 1923, Hardware Age viii say 70.
morrow In its weekly market summary
| Although the month 0f January ha,
been decidedly backward. due In NJ
small part W unreasonable weather. ths
| Indications are that February Will show
a noticeable improvement,
Prices In most sections Of the co,intT,
are firm and In many Items show ad
| sanceE.