Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-07-27

Va h' ~ AAVNHhhs'
largely on account
of the cooler weather. This year there
was striking difference, the June
total being far un6er the previous
month, which reported net income OF
1922, 397.03.
Net income of the Georgetown Gas
Light Co. for the month Of June was
S10473 Oe. an increase of $l,633.46 over
June. 1928. and that for the year to
date. S8885l15 is an increase OF $2l,-
l84.64 above the first six months
year ago.
Bank Official on Vacation.
A. A. Hoehling, vice president and
director of the National Metropolitan
Bank. is spending his annual vacation
at Marthas Vineyard. off the Massa-
chusetts Coast. Judge Hoehllng holds
the distinction of being one OF the nrst
trust officers in the United states,
having held such position at the
Metropolitan just after the Government
granted trust powers to national banks.
He later served as judge in the District
of Columbia courts. returning to the
bank as vice president some TWO or
three years ago.
Institute Turns to Athletics.
F. Kimball of the American Sc
curity g. Trust Co. has been named
chairman Oh LIE dGIllcGlC -
the local chapter of the American 1nsti-
tute of Banking. The other members
are: Arthur Doying. Washington Loan
Il Trust Co.: j. E. McGeary, w. b.
Hibbs & Co.: G.. H. Morris, Riggs
National: T. E. Norris, Mount Vernon
Savings; j. D. Yerkes, Federal-Amerlcan
National. :.
Mr.. Kimball announces the golf
tournament Of the chapter August 40
90 on the Potomac Park munlclpal
links, Prizes will be offered for the
three best scores and team VIII De
chosen for a contest with that OF Baltl-
more Chapter.
The audit committee will consist OF
John M. DeMarco. chairman, Seventh
Washington Savings Bank. and G. A.
Xeene, Second National Bank.
North American Dividends.
At a meeting of the board of directors
Of the North American Co.. quarterly
dividends were declared, payable on
october l, 1929, to respective stock
holders of record at the close OF bust
ness on September S. On the preferred
stock IL per cent, payable in cash at
the rate of rs cents for each share so
held, and on the common stock Ia
per cent payable in common stock and
or scrip at the rate of one-fortleth OF
q SHARE lOI CdNIl SAloAC OF AASAN'
Morris Plan Bankers to Meet.
The tenth annual convention Of the
Morris Plan Bankers Association Will
be held September %, "a and Is at
White Sulphur Springs, w. Va, 1t has
been announced by Philip Woollcott |
vice president of the Morris Plan Bank |
of Virginia. The convention will cele-
brate the twentieth anniversary OF the |
founding Of the Morris Plan system OF
banking at Norfolk. This original bank !
now has been absorbed by the main |
Virginia bank In Richmond.
Shenandoah Stock Offered.
Goldman, Sachs & Co. are offering |
1000 900 shares of optional per cent |
convertible preference stock of Shen-
andoah Corporation at $50 per share |
and accrued (cash) dividend and J.
100000 shares of common stock at
Sl7.50 per share. The certlf1cate OF
incorporation provides that the holders
of preference stock are entitled to re-
ceive cumulative dividends in common
stock of the company at the quarterly
rate of one -thirty-Second Of share OF |
common stock per share OF preference
stock, or at the option OF such holders
they are to receive cash at the cumu-
lative quarterly rate Of IS cents per
share. The preference stock is con-
of one and one-half shares Of common
stock for each share of preference
stock The preference stock and the
common stock each has one vote per |
share.
Heard in Financial District.
The council of administration of the
District of Columbia Bankers Associa-
ton considered routine matters at Its |
regular meeting yesterday afternoon |
Wilmer j. Waller, president, presided. |
Richard E. Harris, assistant treas
urer, central branch of the American |
Security 81 Trust Co.. has left for a |
motor trip through Virginia and Long |
Island.
Attractive leather bill folders of d.
mansions suitable to the new small
sized paper currency are being issued |
by the National Metropolitan Bank TO |
its patrons.
The overtime counter market on
Second Southern Bankers Securities
Corporation capital stock has advanced
to 561a, as compared with low OF SO |
several weeks ago.
w. w. Spaid, partner in w. b. Hibbs
IL Co., has returned from several days
outing at Atlantic City.
William Knowles Cooper, director in
the Federal American National Bank,
is spending a months vacation at VIII
liams College, Williamstown. Mass.
Washington cleared 26,504,o0o this
week, against $31 ,045.000 last week,
but an increase of 1877 per cent over
the corresponding week last year.
President Wilmer j. Waller of the
elected honorary vice president Of the
Stable Money Association, of which
Frederic A. Delano is president.
The Monthly Bulletin of the Dis