Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-05

nrG1eTfSQ SOiQ nv =
973k. and 10 shares
Of g ontin n tai A -
Trust Co. stock at ~
100. Unusual in
terest was mani
tested In the bond a'1'Aa
department. Thomas J. Groom.
Sales Of $4,000
CAPITAL Traction SIS opened the trading
At 90, $1,000 Potomac Electric Power o
sold at IO8, 81 900 at 10s1a and $l,OOU
At. loo. while $4,000 Potomac Electric
ConsoIidated SIS appeared on the board
washington Gas SIS moved at 1o4 and
Fl nm Washington Railway 81 Electric
Is came out at 691a.
THE unlisted stocks were called on
and showed very few price changes our
ing the week.
LYNCH Made Bank Director.
Robert E, Lynch was added to the
board of directors of the washington
Mechanics Savings Bank at meeCng
Yesterday afternoon. Mr.. Lynch Is as
sistant corporation counsel OF the DIS,
trict and has been prominent IN legai
circles in Washington for number OF
years Announcement OF ms eiecS.U .a
was made today by President Ezra
Gould.
Reserve Credit Up S57,OOO.0OO.
THE daily average volume of Federal
Reserye Bank credit outstanding our
inc the week ended September s, as
reported by the Federal Reserve Banks
was 81 ,028, 000, 900, an increase OF $40
100000, compared with the ,o pr ece nm
week and a decrease of $385,DOO,OU0
compared. with the corresponding week
on Seutember 3 total Reserve bank
credit amounted to $l,041 900, an
increase of 100000 for the week.
This increase corresponds with an IN
crease of $65,000,000 in money IN cir
culation and decreases OF $4,000 ,000 IN
monetary gold stock and $l4,O0O,O0O IN
treasury currency, offset in part py a
decrease of 100000 in member panK
reserve balances.
Hoidinps of discounted bills increased
G38. 600 900 during the week, the prin-
cipal changes being increases OF $S2;-
600 900 at the Federal Reserve Bank
Of New York and SS,o00,o00 each at
Atlanta and ST. Louis.
Land Banks Weather Drought.
Effect of the drought upon the Fed
eral Land Banks will be slight, due
n the fact that most of the sections
affected lie within the territories OF the
strongest banks and the percentage OF
loans made within the drought area Is
small compared with the total loans
of the system. This statement is made
in a report issued by the present mana
gers OF the investment group, which
first offered Federal Land Bank DondS
% the public in 1917.
The report constitutes summary
for investors Of the results of the ex-
perience Of the last Is years as inter
preted by the Federal Farm and Loan
Board and its statisticians and is de-
signed primarily TO present answers to
inquiries which have been made either
by the group managers themselves or
by investors in Federal Land Bank
bonds.
A feature OF the report is a summary
Of the present condition Of the Federal
Land Banks taken from the June 80
statement supplemented by other in
formation supplied by the banks and
the board.
Hin TO Address Junior Bankers.
It Is announced by H. F. Kimball
that Richard w. Hill, national secretary
of the American Institute OF Banking,
will address local chapter members at
the annual Fall educational dinner next
Thursday evening at the Raleigh Hotel.
The gathering win include members of
the faculty, officers, board OF governors
and board Of conSuls of Washington
Chapter, Plans for opening the study
course on Monday, September ~, VIII
be completed,
Individualisrn. Mr.. Hill has spoken
here many times and is always brilliant.
He practiced law IN New York for IL
years, Is an expert accountant. and in
1905 and 1906, was connected with the
examining division Of the Municipal
Civil Service Commission Of New York
City. He Is graduate of the banking
institute and former assistant national
educational director.
At the coming dinner. Aubrey o.
Dooley, educational committee, viii pre-
side. Frank M Perley is the chapter
president.
Groom Continues to Improve.
Thomas ]. Groom, vice president and
cashier of the Bank of Commerce q
Savings, continues to improve steadily
following the automobile accident in
which he was severely injured last
Sunday. He is confined at the George
town Hospital to which he was rushed
from Rockville. 1t is expected he will
be back at his office in about a month,
perhaps sooner. Mr.. Groom is one OF
the youngest bank officials in the city
and went to his present position from
the Washington Mechanics Savings
Bank He has a law degree and is q
member of the District bar.
Notes in Financial District.
Albert s. Galley, vice president OF
the Lincoln National Bank, is nov
resting at Ocean City, Md. while re-
covering from an operation. Mr.. Cat
ley, who has been treasurer of the Dis
trict Bankers Association for more
that, fyu0 AonodaS &c said he max
ing satisfactory progress.
Edward M. johnson OF Syracuse, N
Y viii address the luncheon meeting
of the District of Columbia Life I'm
derwriters Association at the Hay
Adams House Thursday. His subjec
will be, IF Were Selling Life Insur'
ance." johnson has been lectures
on creative salesmanship for the las
is years.
William Knowles Cooper addressed
the Rotary Club at York, Pa, Wednes
day. While there he was informed tina
O recent survey showed that in tina
city OF almost so, 900 inhabitants ther
were only 1900 people unemployed
Practically all the Industries are owne'
locally and in some way the manager
were able to prevent any heavy lay-ohF
It Is doubtful If any other industris
city in the United States has mad
such an enviable record.
T. Hunton Leith, member Of the Ma
tional Council of the American Insti
tute of Banking, is on trip South as
sisting in planning the work Of variou
chapters for the coming year. He mad
o particularly important visit at Al
Ianta. Mr.. Leith is assistant cashie
Of the Security Savings d. Commercit
Bank and has done splendid work fc
the institute.
The Council of Administration of tn
District Bankers Association transacte
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