Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-07-12

the meeting were
John P. Saul ir.. Salem. Va: c. Thomas
Summers, Frederick, Md; Charles Ed
ward billiard. HagerStown, Md; Shirley
Carter, Winchesfe", Va; j. T. G. Hop
kins, jr.. Port Depoal., Md: Carroll
Pierce, Alexandria, Va and Joseph A.
Wilmer. La Plata, Nd
Mr.. Harris has been at the head OF
the Potomac Land Bank for several
years, and has been very successful in
handling its affairs. He is an active
figure in the Joint Stock Land Bank
ers' Association, being governor for this
district.
A. I. B. Committeeman Named.
The following appointments of COM
nittee chairmen for washington Chap
ter. American Institute of Banking,
have been announced; Archives, Miss
Lois A. White. Federal American Ma
tional Bank; athletic, H. F. Klmball.
American Security e. Trust Co; audit
and theater party, j. NJ. De Marco,
Seventh Street Savings Bank; banquet,
T. Hunton Leith, Security Savings d
Commercial; educational, Frank M.
Perley. American Security g. Trust Co.;
vice chairman. Aubrey o. Dooley,
Federal American National; forum,
James A. Soper. Lincoln NATIONAL
house, r. A. Sisson, Washington Saw
incs: membership, R. H. Lacey, Co
lumbia National: publicity Aubrey O.
Dooley. Federal-American; public
affairs and public education. 1. j;
means. H. w Burnside Farmers g.
Mechanics Branch of Riggs National;
women's, Miss Mildred C. Woodcock.
American Security g. Trust Co.; editor
in-chief of Dollars and Sense, Raymond
D. Lewis, American Security g. Trust
Co.
Bank Declares Dividend.
Directors of the International Elk
change Bank, at their meeting yester-
day, declared the per cent seml-an-
nual dividend to shareholders as OF rec
ord at close of business June 20.
Seaboard Plan Appears Approved.
At the meeting of stockholders OF
Seaboard Air Line Railway Co., in New
York Yesterday, there were presented
proxies representing more than enough
stock to carry through the proposed
r-lan relating to the companyS per
cent adjustment mortgage gold bondS,
thus indicating that the plan has the
approval of the stockholders OF the
COMPANY. AS the time for the deposit
of adjustment bonds under the plan
and agreement does not expire until
july Is. 1929. the stockholders meeting
was adjourned to July IT. 1929.
Brokers' Loans S14,OOO,0OO Lower.
Loans on stocks and bonds to brokers
and dealers by reporting Federal re-
serve member banks in New York City
decreased S14,0O0,000 during the week
ended July 10 to $5,755,000 1000. This
compares with SIS 769 100000 on July 3,
with SIS, 1893 900 600, the high record, on
March 90 and with S4243,000,0OO on
July IL. 1928.
Detailed changes during the week
we're a decrease of S54 900 900 in loans
for own account, an increase OF 4,OOO,-
900 in loans for out-of town banks ana
a decrease of 100000 in loans for
others.
Demand loans constituted IS 1863, 000,-
900 of the total, compared with $5,383,-
100000 last week. Time loans were
1887 900, 900, against 1886, 100000 week
ago.
Heavy Buying In Telephone.
The advance in American Telephone
has been due to investment buying.
Oddlot purchases have been on a large
scale and have taken considerable stock
out of the street in recent weeks. AL
though the present cash dividend OF
SO a share gives a return OF less than
per cent. says the Wall Street journal,
the investment interests are calling at
tention to the rights which come to
stockholders from time to time and
which increase the yield. Wall Street
is gradually coming to the view that
split-up of the, stock is becoming in
evitable, and this has been factor in
the recent strength.
Gas Dividend Declared.
The directors of the Washington Gas
Light Co. today declared the regular
quarterly dividend of 80 cents per share
on the outstanding. AS stated else
where in The Star, one new director,
Fred S. Borreughs, New York finan-
cier, was elected.
Bonds Again in Favor.
Bonds we're again in favor on the
Washington Stock Exchange today, al
though the volume of trading was not
as large as yesterday. Gas bonds ap-
peared most frequently, but Anacostia
81 Potomac Railroad SIS, Capital Trac-
ton SIS, Potomac Electric SIS and Rail-
way 81 Electric as got their share of
attention. Prices were steady.
Stock quotations were little changed.
There were no sales in Washington Gas,
but the asked price was advanced to
126. with 10 bid. In the unlisted de-
partment 100 shares of Miller Train
Control changed hands at /.
Riggs National was the only bank
stock out. three shares selling at SIG.
The largest share sale was 1000 Real
Estate Mortgage & Guaranty preferred
at 73s.