Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-08-09


Columbia Sand g.
Gravel preferred sold to the extent of
30 shares, opening at 9434 and closing
at 94i2. The first sale this year in
Washington Hall Co preferred took
place. 10 shares selling at 85 The
last sale was made at 98 many months
ago.
National Mortgage g. Investment pre-
ferred made a new low today, when
two i00-share blocks changed hands
at 4. The bond market was very much
neglected.
Debts to individual Accounts.
In its latest report on debts to in
dividual, firm and corporation accounts
in the fifth district. the Federal Re-
serve Bank OF Richmond says:
Aggregate debts of 81 500 233. 900 In
the reporting banks during the four
weeks ended July II show a seasonal
increase over the total of 81 ,2l4,l2l 900
reported for the preceding like period.
, ended June Is. the Semi-annusl and
quarterly payments occurring on and
around July / increasing debts totals
materially. The increase during the
more recent period was about the same
as in most years. Eighteen of the %
reporting cities showed higher figures
I'm comparison with the CORRESPOND
ing four weeks in 1927. ended July 10.
when debts totaling sl269. 4S4 900 were
reported. the total OF 81 ,309 333 900 for
the four weeks ended July IL. 1928,
shows an increase of $39.349. 900. ID
of the IS cities reporting higher figures
this year
Total debts for the first half Of
1928 amounted 70 S8.l37 $4,000. conf
pared with 5000 $50 600 reported dur
ing the first half Of 1927 Fourteen
cities showed higher figures while nine
cities showed lower figures during the
first half of this year in comparison
With the corresponding six months of
1927. Five of the six largest cities In
the district reported larger 1928 figures.
Norfolk reporting the only decrease
among the larger centers In view of
the marked activity Of those participant
ing In stock market operations during
recent months. it Is doubtful whether
the increased debts figures for 1928
reflect any increase In ordinary BUSH
ness"
Heads Banking Forms Committee.
Frederick H. Cox, cashier of the
Commercial National Bank, Is this
years chairman of the District Bank
ers' Associations standing committee on
standard banking forms. Mr.. Cox came
to the front In the associations afIafrS
last June, when he did so much work
on transportation in connection with
the annual convention. He has been
prominent figure in the local chapter
of the Institute of Banking for some
years.
Associated with Mr.. Cox on the COM
niittee are Thomas J. Groom, j. Damn
Faber. John D. Howard Arthur j. Linn,
RAYMOND @. Marx. Edward J. Nc
0uade, Frank Owings, @. D. Radcliffe.
Raymond L. Schreiner. Charles W.
Shoemaker, Edward z. swan and
James Trimble.
The standardized forms committee
functioned very actively during the past
three wears under the leadership OF z.
j. McQuade as chairman. Many OF
the forms suggested have been uni
verSally adopted by the local banks.
The new committee will have plenty
TO do however. as auditors and cashiers
report that the banks here still have
a long way 10 go in this important
field.
American lee Earnings Gain.
Sales of American Ice Co. for the six
months ended June 80 were &8,594. 1913.
which compares with $e,246,2 69 for the
| same period last year. Net income for
the six months, after expenses. main
tenance and interest, but before depre-
citation and taxes, was 1907 .oS2. gain
| Of over 20 per cent over the first six
| months in 1927. Current assets. after
| deducting cash OF S5.i84,270 held for
redemption of the company's real es-
tate mortgages of approximately the
same amount, we're nearly six times cur
/ rent liabilities.
New Committee Chairman Named.
James A. Soper president Of the
Washington Chapter. A. /. B.. has APP
pointed n. w. Burnside. assistant CASH
Ter OF the Farmers ~ Mechanics Ma
tionai Bank, chairman of the standing
committee on public education ano
public affairs.
The Chairman of the publicity COM
mittee. Miss Catherine Krieg, has added
| three members TO her conmittee--Mrs
| Judith M. Fishburn, Commercial Ma
tional: Miss Ruth Gochenour. American
| Security a. Trust, and Miss Esther Lau
| Riggs National.
The board Of institute governors dis
cussed only routine matters al It's meet
| ing late yesterday.
~ H ~ ~ OBDWN bD@tshhN Wv sFN~f
The American Telephone a. Telegraph
/ Co. reports operating income totalinf
| Sfe.924,T70 for the six months ended
June 80, compared with $40. 1922 fol
/ the corresponding 1927 period. Gross
| income for the six months WAS $4S,.
! 435.536. compared with t4s,S3S.65i.
Operating income for June wa
/ s3.O37, 034. against $3,298,isi for June
1927 June gross was S8,329, 665. com
/ pared with $8.2la.i6s for June, 1927.
Insurance Officers Named.
Directors Of the Acacia Mutual Lift
| Association have made four appoint
ments in the organizations personnel
| announcement OF which Is made b,
William Montgomery, president.
The appointments are: MAJ. J. G
King, assistant secretary; w 3. Irons
assistant secretary: n. b, Montgomery
assistant treasurer. and n. A. Harlan
executive secretary
Glea nings in Financial District.
Clarence p. Eorment, chairman o
the board of directors Of the hatioTla
Bank oi Washington, has returned
from a six weeks vacation az tn
chan1berlir1. Vanderbilt, Old poin
Comfort, va
President Robert V. Fleming Of tn
Riggs National Bank. was back at tn
once today after a TWO weeks vaca
ton IN New FORK, New England ant
Canada, making the trip by motor.
Victor Is Deyber president OF tn
Second National Bank, is taking tw'
on three weeks motor trip through
New England.
ser