Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-02

quoted as stating u 81
recently that he In
had obtained con- kzks7-1ESt24 II rs &l'li>"
troll. In some quar- Fernando Cunnibert
tiers this claim is
questioned. It will require the proXie
of some 10000 shares to control tn
meeting.
1t is the belief of some Of the presen
stockholders thai even if New York O
other interests should have obtaine
voting control. they would prefer to re
tain the local management. This woul
mean the retaining Of Ord Preston q
the head of the company. position
which he has occupied for several years
The present directorate may have ampl
support for reelection. anyway.
The full years earnings will be an
nounced Monday. For the first l
months they were highly satisfactory
Confidence was expressed by Severa
shareholders today that there would b
no change in the present management
Ten Capture Insurance Honors.
The names of the 10 leading agent
of the Acacia Mutual Life Association
for the year. 1928, were announced yes
terday by William Montgomery, presi
dent, and the list shows that anon.
for the last year was w. O. Daniel o
this city, a member Of the home oftic
branch.
The complete list follows: r. L
BarnwelI, Oakland: r. E. Keeling
Houston: S. C. Ross, Boston; E. j. War
shell, Chicago; II. j. Prada, Pittsburgh
w B. Bright and G. E. Clark, Phila
delphia: w. c. Daniel, Washington;
B. johnson, Jacksonville; H. Bollen
Cedar Rapids, and H. j. Taylor, Florida
Second Year as Bank President.
Fernando Cunniberti, recently re-
elected president OF the Internationa
Exchange Bank, has entered on hi
second year as head of the institution
at Fifth and II streets northwest. Dur
ing his first year at the helm he made
an excellent record as bank executive
On the February call last year thu
banks deposits showed a decline ovel
the December 81, 1927 call, but aftel
that time deposits revealed a steady in
crease until the end Of the year. De
posts on December 81, 1927, amounted
to 1857, 1929, while on December 81
of last year they had increased Il
$778, 042.97. Between the October cal
and the end of the year, deposits in
creased $110,311.36.
Mr.. Cunniberti was at one time con.
nected with the Italian embassy here
and then became actively engaged il
business in New York for several years
taking his present position when JOSEPH
Schiavone retired at his own request.
Cost of Living Reported Higher.
The cost of living in December, 1923
was 71.3 per cent higher than in 1913
according to Department of Labor. Thi
compares with 70 per cent in June, 1928
Rent in December was $50 per cen
higher than in 1918. compared with 57.t
per cent in June. Food increased from
52.6 per cent in June TO $50 per cen
in December.
Clothing declined slightly in the six.
month period, figures for December
showing GIG per cent above 1913
and light has shown a rather sharp III
crease since June, December figure!
being at 0is3 per cent above 1918, com
pared with 77.2 per cent in June.
Household furnishing goods in De.
cember stood at 99,7 per cent abovt
1913, against l0I.l per cent last June
while miscellaneous commodities las
month were 1911 per cent above 1913
compared with 1888 per cent in June
A. b. A. Council to Meet at Biloxi.
The executive council of the Amer
lean Bankers Association, Of which
Robert Y. Fleming is a member, vii
hold its Spring meeting on April 10
18 at the Edgewater Gulf Hotel, Edge
water Park, Biloxi, Miss.
The executive council meeting mex
TO the annual convention Of the as
ISOLATION is one of the largest and mos
important national gatherings Of til
year among bankers The council
composed of representatives from al
parts of the country proportionate t
banking membership in the association
in each State. It is empowered t
transact a large part of the admins
trative business of the association an,
to receive reports from all the division;
sections, commissions and committee
OF the general body.
Keen Interest in Next Forum,
Chairman I. j. Roberts of the in
stitute's forum committee reported 10
day that unusual interest is being show
in the next forum meeting whicl
takes place next Wednesday evening a
the Raleigh. Federal Financing" tn
subject chosen by Undersecretary Ogde
l.. Mills, Is one Of deep interest to ever
banker. The committee is great
pleased that the banking students wi
have an opportunity to hear q man Tx
Mr.. Mills, who is always most inter
esting speaker The forum starts 4
8 o'clock and will be followed by a but
fet luncheon.
Check Payments Above Last Year.
Check payments during the wee
ended January 26 We're smaller than
the preceding week, but showed con
siderable gain over the same perio
of 1923, according TO the weekly state
ment Of the Department Of Commerce
Steel plants were more active durin
T=ck than in either the preceding wee
or the corresponding week of IT.
previous year
Activity in the automobile induStr,
as indicated by factory employment
Detroit, showed substantial expansion
as compared with the preceding wee
and the same period Of 1923. Tt
output of crude petroleum. lumber an
bituminous coal. covering the latest II
ported week. was greater than durir
either the previous week or the san
period of last year.
The general index of wholesale prize
showed a further gain as compare
with both the previous week and tt
same period a year earlier. Loans ar
discounts of Federal Reserve memb
banks showed a further contractic
from the preceding week, but we
larger than year ago.
Heard i'm Financial District.
w. w. Spaid of w. 3. Hibbs 81
has returned from New York where
went in connection with a meeting
the executive council Of the Quito
Town Section Of New York Sto
Exchange firms. Last year he W
chairman Of this committee.
Gage p Wright, president Of Il
Business Economic Digest. places Was
ingtOn in the list of cities which
present offer the best sales opportunitii
He finds great difference in the ou
look for sales in various cities but
aylrr