Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-27
BANKERS SECTION
ADOPTS BYLAWS
Branch of D. C. Body Acts
on Amendments Pending
for Some Time.
BY EDWARD C. STONE.

fiduciary section of the District Bank
ers' Association, held yesterday after
noon at headquarters. the amended by
laws, which have been under constd-
Grafton for some time, were adopted.
David N. Houston, trust oh1cer OF the
American Security g. Trust Co., who j.
the sections chairman. presided. Sec
ton committees for the coming year
were named and marked interest shown
The safe deposit section OF the bank
ers' association also met yesterday,
Charles +. Howe, treasurer of the Amer
lean Security a. Trust Co., presiding as
chairman, Committee chairmen for the
coming year were appointed. Arthur
p Miller. Liberty National, was made
chairman of the committee on stand
ardisation of safe deposit practices;
Earle M. Amick of Riggs will be chair
man OF the standardized safe deposit
forms committee, and James M. WoltZ
Of the National Metropolitan, will serve
as chairman of the educational and
publicity committee.
Trading Active on Exchange.
In the last Washington Exchange ses-
aion for the present week trading was
active. Potomac Electric Power s per
cent preferred sold at l09 and so shares
OF the So per cent issue changed hands
at 104ES.
Mergenthaler Linotype sold at 1895
for 40 shares and sale OF shares was
recorded at 104A, new high on tne
present move Small lots in Peoples
Drug stores preferred was registered at
Forty shares of National Mortgage
4, Investment preferred came out at
s31 and 500 more at 37s A 40-share
sale of Real Estate Mortgage d Guar
arlty preferred was made at IA.
union Trust Co. stock sold at 215
Trust Co. at 1907. Several other stocks
appeared on the board and bonds were
also In quiet demand.
Optimism Over Holiday Trade.
Reports by telegraph from the vari-
GUS Federal Reserve districts indicate
suotty conditions with trade in many
sections of the country entirely nor
mai. Low temperatures In the North
vest have interfered with building
prograrnS Business Is active IN the
southern and Southwestern sections OF
the country and on the Pacific Coast,
these reports indicate. Trade in Phila-
delpiaia and ST. Louis has not been
particularly affected by the market de-
cline. Chicago reports considerable
activity in medium and low priced
merchandise. From all centers |he re-
ports indicate high bank clearings,
elaborate plans for construction when
the weather permits and considerable
optimism for robust retail trade dur
ing the holiday season.
Decrease in Loans Reported.
The Federal Reserve Boards condi-
tion statement Of weekly reporting
member banks in leading cities on
November 30 shows decreases for the
week of 1904, 0O0, 900 in loans and in
vestments, $346, 0O0, goo in net demand
deposits, $33, 900 900 in time deposits,
Sie. OOO. 600 in Government deposits and
sci 900 900 In borrowings from Federal
Reserve Banks.
Loans on securities declined $378,-
900 900 at all reporting banks, $780,
OOn. 900 in the New York district,
S2O.OOO, 900 in the Chicago district,
$4,000, 600 In the Cleveland district
and &s,O0o,OoO in the San Francisco
district
AN other" loans increased $125,-
100000 at all reporting banks, $780,
900 900 in the New York district and
$4,000, 900 In the Boston district, and
declined $4,000 900 in the Chicago dis
trict and $7,000,O00 in the Minneapolis
district.
nNHAGEb DubNGhh Wv AOAAys
The Monthly Bulletin of the District
Bankers Association appeare' today,
being edited by Aubrey o. Dooley,
Federal-American National; Edward j.
McQuade, Liberty National, and L. j.
Roberts, Riggs National.
Despite the reverSes that have come
to. those who were recently enmeshed
in declining stock market, the Bull
letin sees abundant evidence Of pros
pertty and material blessings for which
there should be manifestations at
this Thanksgiving season, especially IN
Washington, which has been free from
misfortunes that have visited banks in
some other sections of the country.
The Bulletin prints resolutions in
memory of Charles J. Bell, and notes
the death of William A. Bennett, vice
president of the Bank of Commerce q
Savings, and of Joseph H. Curran,
director in the Lincoln National Bank.
Attention is also called to the opening
Of tbs 1880 Christmas Savings Clubs
next Saturday.
Net railway operating income Of the
Baltimore & Ohio for the first 10
months of the year was reported this
noon. It totals $3,5l4,963, compared
with $40,575,77S in the same period
year ago, or a gain OF 50 1886, 184.
Net operating income in october
showed a small decline Net revenues
amounted to $5,256, ago, against So
223. 1913, q drop Of $976,703. There was
a gain for the month of over 100000 in
freight revenues, but passenger reVe-
nues fell of over $l61 ,000
For the first 10 months Of the pres
ent year, the b. q o. Is $11,308, 418
ahead in freight revenues and $1,240,-
900 behind on passenger income. Main
tenance Of equipment has required So
639, 900 more than 1t did year ago
and maintenance Of way and structures
has taken over $4,000, 900 more than
was necessary in the corresponding
period q year ago. Tax accruals have
also been higher.
Cleaned in Financial District.
President Wade H. Cooper of the
United States Savings Bank and the
Continental Trust Co. has been elected
to the board of directors of the Real
Estate Mortgage g. Guaranty Corpora
ton. This is a local concern, the. stock
being listed on the Washington EX-
best known bankers in the city, started
his career as a lawyer He is director
in several important corporations:
The committee In charge of the
Credit Bureau of the District Bankers
Association will meet this afternoon al
4. o'clock at headquarters. Hilleary @
Hoskinson, one of the vice presidents Of
the Riggs National Bank, is chairman
OF this committee. The association
council of administration will meet
Friday afternoon at the same hour.
The auditors section postponed 1t
November meeting, as it would conn
Thanksgiving night. The next gather
ing OF this section will be addressed b,
Wayne KendriCk. .-.,
The members Of the Bank Women
Club held an interesting meeting las
Monday. Interest In the club is at