The Washington times., 1928-01-21
BANK institute
To DINE
BY RICHARD HATTON


next week will be the second To-
rum dinner.discussion meeting OF
the season held by the Washing.
ton chapter, American Institute
of Banking. on Tuesday evening
at the Lafayette Hotel. As is
usual at these interesting gather
ings, the dinner will be informal
in character and no tickets Will
be issued, but it 10 stated by the
committee that all requests for
reservations must be In the hands
OF the committee before 8 o'clock
a. M, Monday, January %.
The forum committee has an
nounced that Edmund Brown, IT,,
Phi, D., investment counselor OF
the Brookmire Economic Service
Of New York, will speak on the
subject of THE Business ana In.
yestment Outlook for 1925" Mr..
Brown also win lead the discussion
of the subject which will follow
his remarks. 1t is felt that with
the present year presenting SO
many divergent possibilities that
this subject win be Of especially
timely interest to both business
men and bankers.
Commercial Reflects
The board Of directors Of the
Commercial National Bank has re-
elected to their respective posi-
tons the officers Of the bank az
follows: G.. Golden Donaldson, pres.
ident: James B. Reynolds, James
Fl. Baden, Laurence A. Slaughter
and Walter J.. Harrison, vice pres
idents: Frederick II. Cox, cashier;
Hayden Johnson, general counseI
and trust officer; Aubred 9. Doo-
| lev. assistant trust officer; ROD.
ert A. Cissel, comptroller; Herbert
". Hunt, T.. Blackwell Smith ana
Alexander r. Varela, assistant
cashiers.
Michael F. ShowaIter and r. Jesse
Clancy were elected assistant casn-
| iers. -
Mr.. showalter has been in the
employ Of the Commercial Natonal
bank for q number of years, nav
inc heen successfully receiving tel.
| Ter. note teller and assistant 70 the
officers. He is graduate OF the
| Washington Chapter OF the Amerl-
can Institute Of Banking.
ri Jesse CLANCY has also Deen
in the employ Of the bank Tor
considerable time. having passed
through the various departmen
IL the position of manager Of the
| credit department. Mr.. Clancy II
past president of the Banking
| Institute, as well as a graduate q
/ that organization, and is now
member of their board OF COVER
nors. j.
recognition OF loyal and efkiclen'
service.
New Reserve Rules
Under date of December ~. the
Federal Reserve Board issued g
revised edition of its regulations. e
become effective January B, 1928,
and to be known as Regulations Of
the Federal Reserve Board, Series
/ of 1929 The primary purpose q
/ this revision Is to bring the regu.
! lations into conformity with the
| provisions of the Federal Reserve
act as amended by the McFadden
act OF February rs. 1897. Tine
board took this occasion to review
all of its existing regulations and
| to make such changes az expert
ence had proven to be necessary
or desirable. The full text OF the
regulations and q brief Introductory
statement calling attention to the
more important changes are pub
lished in the January issue Of the
Federal Reserve Bulletin released
for publication today.
The volume of trade during the
week ended JANUARY IA, as indi-
Gated by figures on check pay
ments, although lower than in the
preceding week, was considerably
higher than in the corresponding
week of 1927, according to the
weekly statement Of the Depart
ment Of Commerce. The general
level Of wholesale prices, showing
no change from the previous week,
was still below a year ago. Prices
| for cotton again weakened as COM
pared with the preceding week,
but were still considerably higher
than in the corresponding period
of last year. Iron and steel prices
strengthened for the first time
in weeks. but averaged lower than
in the corresponding week of 1927.
Receipts of cotton into sight were
larger than in the preceding week,
but only about half as large as
a. year ago. The daily average
OF building contracts awarded
showed larger value than in either
the previous week or the same
week Of last year.
Loans Recede
| Loans and discounts by Federal
Reserve member banks receded from
the high point of the preceding
week, but were still considerably
larger than in the same week a
wear earlier. The Federal Reserve
ratio again averaged higher than
in the previous week, but was
lower than in the corresponding
week a year ago. Prices of stocks
listed on the New York Stock Elk.
change were lower than in the
previous week, but higher than
in the same week OF last year.
Loans by Federal Reserve :ncm'
her banks in New York city to
brokers and dealers. secured by
stocks and bonds, reached another
new high point during the week.
interest rates on cali loans reached
lower than in either the previous
week or the same week OF the
preceding year. Bond prices aver
| aged higher than in either COM
narrative period. Interest rates on
| time money, though showing no
change from the preceding week,
were lower than in the cores
nonding week of 1927. Business fall
Ilres were larger in number than
in either prior period.
According to a statement issued
NV Henry L. Doherty and Com