Evening star., 1928-05-21
LAND BANK STOCK
INCREASE VOTED
Potomac Institution Boost to
S400,000 Authorized by the
Directorate.
BY EDWARD c. STONE.

Land Bank, an increase in the capita
stock to 100000 wes authorized.
| According to the policy of the bank
which is approved by the Federal Farm
Loan Board. the increase in stock wa!
offered to the present stockholders.
! is stated by George A. Harris, preSi
i dent of the bank, that the entire
amount of the increase was promptly
subscribed for by the present share.
/ holders.
| This bank now has resources II: eX.
! cess of ST 900 600 and is making loan:
| to the farmers Of Virginia and Mary.
land at 5i2 per cent.
| A new issue of Az per cent farm
/ loan bonds will be offered to the pub
| lie on June /.
New Insurance Officers Elected.
Members of the District of Colum.
bia Life Underwriters Association. al
! their annual meeting, elected the fol-
lowing officers for the coming year:
A. l.. Baldwin of the Northwestern
president. H. Cochran Fisher, Aetna
first vice president: H. l.. Choate, Mu-
tual Benefit. second vice president anC
H D. Kraft Standard Life, secretary
treasurer
In addition to the above officers the
board of directors includes Mrs. Mary
Drown. Lea Stabler. J. A. Maloney ano
George B. Farquhar The past year
has been one of the most successful in
the history of the association. 1t is in
its best condition financially and the
membership is as large or larger than
1t has ever been. The new officers have
already been installed.
Safe Deposit Association Meets.
Charles E. Howe. treasurer of the
American Security g. Trust Co: Albert
E. Fisher of the Riggs National Bank
and William II. Harper of the Wash
ington Loan & Trust Co. have returned
from New York, where they attended
the National Safe Deposit convention
held at the Hotel Roosevelt on Friday
and Saturday
Employment Trend Is Upward.
The monthly bulletin of the United
States Employment Service reports ma
terial increases in employment The
largest portion of the recent gain is
credited TO seasonal outdoor activities.
but automobile manufacture and the
preparation of building materials also
caused increased. The bulletin an
ticipates that the remainder of May
will bring further increases owing to
increased agricultural demands.
Trading Lively in Exchange.
Following the two-day lay-ofT on the
Washington Stock Exchange trading
was active and strong today. Capital
Traction moved at 109. Potomac Elec-
trio 5l2 per cent preferred came out
at 1915. 10 shares of Lanston sold
at 1852 while Mergenthaler sold at
high as 1922 and closed at l02 Wash
ingtcn Gas opened at 95l4 and closed
at 95i2.
Peoples Drug preferred opened at
l66 and closed at lis, Sand 81 Gravel
preferred sold of fractionally to 80
Chestnut Farms Dairy preferred sold
at 10434 and 30 shares of Merchants
Transfer e. Storage preferred changed
hands at i08. One bank stock appear
ed on the board, 10 shares of Mer-
chants Bank a. Trust Co. moving al
I52
Bonds were fairly active, selling
around recent levels. The ex dividend
list now includes the Potomac Power
issues, Washington Railway &, Electric
issues and Sanitary Grocery preferred
Directors Vote Dividend.
The directors of the Washington
Convention Hall Co. have declared the
semi-annual dividend Of $3.50 per shar,
on the preferred stock. The dividend
ID payable on June on stock o.
record May 28 according 10 tht
treasurer, Frank E. Ghiselli.
Morris Plan Selects Richmond.
Richmond. Va. has been selected fol
the meeting place of the ninth annua
session Of the Morris Plan Bankers
Association. according TO Bertran
Chesterman. president Of the Washing
ton Morris Plan Bank. The convention
takes place October to 10 and dele
gates are expected from i27 cities.
Insurance Production Falls on.
South Carolina leads the othel
States In this part Of the country TO
April with gain Of 10 per cent Thi
section as a whole averages production
| per cent less than that recorded TO
last April. A 2 per cent increase i
reported for the first four months o
this year, as compared 10 the sam,
period In 1927. Sales in the l2-montE
period are 2 per cent better than las
years record. With the best gains o
II per cent reported in South Caroline
N@fA ASNA~W1s1t
Bankers Enjoy Masonic Outing.
Among the local bank officials who
enjoyed the week end outing Temple.
Eoyeg Lodge, A. f. and A. M, Wer,
Robert v. Fleming. president anC
George o. VaSg and Hilieary q. Hoskin.
son. vice presidents Riggs Naliona
Bank: Victor B. Deyber, president Sec.
ond National. Frank J. stryker. presi.
dent Columbia National: Frank Stetson
trust officer National Savings IL Trus
/ Co. Charles b. Lyddane. vice presiden
! FederaI-American National; Ernest r
/ HerreIl, president International Finance
/ Corporation, and Ralph r. Barnard
/ counsel District National Bank
Heard In Financial District.
| Giiiet ~ Co opened for business IL
| their new Offices this morning, lOcateC
| In the Investment Building, Fif.eenti
| and X streets northwest.
The council of administration Of tha
| District Bankers Association will NEE
| Thursday afternoon at 4 o'ciock a
bankers headquarters for the last ses
i sion prior 10 the convention.
/ John f. Parker Of Murphy H. Co. wa
among the Washington brokers Wht
/ Joined the Masonic cruise and outinl
oyer the week end
| Howard Moran, vice president Of tht
American Security IL Trust Co, ant
/ Edward j. McQuade, who holds a 6lml
/ lar position with The Liberty Bationa
Bank, passed the week end at th'
chambsrIln- Vanderbilt AT Old poin
/ Comfort, Va.
In leisure moments. II. A. SmVh
| Washington manager Of H. A. Pierce 4
ca, sketches with pen and pencil
/ Three of Mr.. f3myths sketches hang IL
! his office. One Is that ot "A bail. Tin
| second q bear and the third . fat porke
| which would delight the eye VI an
| meat parker
THE hog only fattens himself for th
bUtchef," Mr.. Bmyth points 0ut in
significant manner, which, bayA IN
/ Wall street journal is something ~
cfroilafy ~ the adfnonition that no on
eyer vent broke taking pfoilt.