The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1928-02-09
| n VEST .MENTS
FALL OFF
BY RICHARD HATTON


financing for January, it lie evident
t, t the first month of the new
year failed to maintain the record
breaking pace set nearly every
month in 1927. fatal investment of.
ferings last month, also. were con-
ciderably below those for January
of last year.
During January new bond and
note issues aggregating $40, S00,e7O
We offered to tho public. according
to the compilation OF Lawrence
Stern and Company, Chicago invest.
nent bankers IN January. 1927,
total offerings were $793,775, 700,
about IS per cen. in excess of of
ferings last month. Offerings in De-
eember amounted to $SO9, 1872, $50.
Foreign issues led in January with
total of st54,S35, 900, which
showed an increase over January
Of a year ago and over December,
1927. The total of 1851 100000 in
the Industrial field was smaller than
that for January. 1927, but larger
than the total for December.
Utilities Decline.
Public utility offerings showed
the largest decline, tota1ing only
about one-third OF the amount is
sued in December, which was the
largest for public utility offerings
on record.
The January offerings, exclud-
ing tax exempts, consisted of 184
separate issues. This compares
with 200 issues in January, 1927,
and 185 in December. Last month
there were SO issues of 81 100000
or more.
OF the 96 corporate and foreign
issues in the 81 100000 class of
fered last month, New York in
vestment bankers underworld 80,
totaling 1906, 573 900, compared with
80 issues totaling $410, S1O, 900 of
fered in December, 1927. Chicago
dealers headed the syndicates for
q issues. totaling $7S.675.0 900 and
placed that city in second place
in volume and number of issues.
Chicago was much in prominence
in the origination of the greatest
number OF large public utility deals.
Cleveland was third in volume
with issues totaling $4S 900 900.
Boston was fourth with q total
of $50, $685. 900.
Dealers and investors alike are
anxiously looking forward to some
new pieces Of financing in pros
pect and it il expected that these
viii be absorbed quickly by the
vast amount Of investment funds
still lying idle.
international to Elect.
The organization meeting Of t-e
International Exchange Bank win
be held today. at which time of
ficers for the year will be named.
President w. w. Spaid, OF the
District of Columbia Bankers As
ISOLATION. has named the follow.
ing committee to study the Ques-
ton OF the establishment here of
credit bureau:
Robert w. Fleming, president
Riggs National Bank, chairman;
Harry v. Haynes, president Farm
-ers and Mechanics National Bank,
for the national bank group; Edison
B. Odds. vice president Union Trust
Company and Frederick p. III.
Siddons. secretary American Sc
curity and Trust Company, for
the trust company group: Francis
@. Addison, ir, vice president Sc
curity Savings and Commercial
Bank, and Claude III. woodward,
president Mount Vernon Savings
Bank, for the savings bank group;
Maurice Otterback, president Ana.
costa Bank, and Lanier p. Nc.
Lachh1en, president McLachlen
Banking Corporation, represent the
State bank group.
Another important committee
named by President Spaid consists
Of Howard Moran, chairman; Francis
G. Addison, Frederick H. Cox, Il.
G. Hoskinson. Alfred H. Lawson, 3.
F.. Saul, Paul Sleman and Frank
Stetson. This committee will con-
slder the matter of obtaining more
complete data regarding notes of
fered for collateral purposes and TO
secure certificates of title.
Thomas w. Brahany. of Crane,
Paris and Company, will be mas
ter of ceremonies and Frank J.
Hogan will act as toastmaster at
the annual dinner OF the Wash
ington chapter A. l. B. to be held
on February IS.