Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-20
BANKERS DISCUSS
DEPOSIT POLICIES
Large Attendance Marks
Meeting of D. C. AsSoCia-
ton Section.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Safe deposit policies in vogue in
Washington, Maryland and Pennsyl-
vania were discussed at the monthly
meeting of the Safe Deposit Section of
the District Bankers Association, held
luSt night at the Hamilton Hotel, Chair
man F. H. Cox presiding. The attend
ance was the largest on record at one
of these section meetings.
The Pennsylvania State Safe Deposit
Association was represented by L. A.
Writ of the Pennsylvania Co, while the
Maryland State Association sent three
representatives, including the associa-
tion president Charles o. Kiessner, who
is secretary of the Baltimore Trust Co.;
w. P. Duvall, treasurer of the Mer-
chants Trust Co., Baltimore, and An
drew H. Troeger, assistant treasurer of
the Safe Deposit g. Trust Co. of Bal
timore. The last two bankers men
toned are directors in the State asso-
citation.
The exchange of ideas on the latest
innovations in the safe deposit field
aroused unusual interest.
c. & o. Net Earnings Lower.
Gross revenue, net railway operating
income and net income of the Chesa-
peake & Ohio Railway Co. are shown
in the January, 1881. report sent to
the Interstate Commerce Commission
today. For comparative purposes. the
figures for the month of January. 1880,
include the figures for the Hooking VAL
ley Railway Co.
Gross revenues for the month were
$10.378,013, a decrease of 81 949. 864
over January of last year: operating
expenses were S6,870.356, a decrease of
S1,148.723. as compared with January
of last year: net railway operating in
come is $2761 SAT, a decrease of 1924
COL over January of last year. The net
income after all charges for the month
of January, 1881, was $2,08865l, a de-
crease of Sl038643 over January of
last year
The operating ratio is 662 per cent,
compared with $50 per cent for jan
uary OF last year, or an increase of IL
per cent.
Fifth District Bank Directors.
The Federal Reserve Boards February
Bulletin, just out, reports the results
of the election of directors of the
Federal Reserve Banks, who have been
chosen for three-year terms, beginning
January l, 1881
Charles E. Rieman of Baltimore was
reelected a class A director in the
1NLSAAilOI4O od1lh :. ISIlDuIIl
of Roanoke, Va, was reelected a class
B director for three years in the
Richmond Bank. Frederic A. Delano
of Washington was reelected a class G
director and also designated as deputy
chairman of the Richmond Reserve
Bank for one year.
William w. Hoxton was again APP
pointed agent and chairman of the
Richmond Reserve Bank for one year
Mr. HnYfnS1 hold fhic it1or ut
position for long time to the complete
satisfaction of the member banks in
the fifth Federal Reserve district.
664 Students in Institute.
Aubrey o. Dooley, chairman of Wash
ington Chapters Educational Com
mittee, reports 295 enrollmentS for the
second semester's work, bringing the
total for the year to 664, only Is fewer
than last year. The advanced class for
bank women begins work next week,
so that last years total will probably
be exceeded.
The new course in real estate has
attracted large enrolment, including
several senior bank officials. John A.
Petty. executive secretary of the Wash
ington Real Estate Board. being in
charge of the class. In addition to the
local junior bankers, there are students
this year from Indian Head Laurel and
Hyattsville, Md; Alexandria, Fairfax
and Vienna, Va.
Chairman Dooley announced that
final grades for the first semester
showed class averages from IS per cent
to "a per cent, the achieving of the
highest average going to the class in
commercial law, taught by Dean Ray
mond B. Dickey.
The institute officials are greatly
pleased with the interest shown so far
this year There have been very few
changes in personnel in the banks since
the stock market break, this fact, OF
course, cutting down the number OF
possible new students. At the same
time many young bankers have already
completed the courses. To overcome
this handicap a class for bank women
conducted by Anne T. RenshaW ana
one in public speaking in charge OF DR..
George Farnham were added increasing
the faculty to II instructors.
The daily average volume OF Federal
Reserve Bank credit outstanding during
the week ended February 10, as reported
by the Federal Reserve banks. was
S940 900 O00 a decrease Of $4,000. 600
compared with the preceding week and
of S243 900 900 compared with the
corresponding week in 1880.
On February l8 total reserve bank
credit amounted 10 s950.000 900, a de-
crease of $4,000 900 for the week. This
decrease corresponds with a decrease OF
S34000000 in money in circulation and
an increase of s10,0o0,000 in monetary
gold stock.
Heavy Trading in Traction Stock.
Trading in Capital Traction was very
heavy on the Washington Stock Ex-
change today. The stock gained half
O point on the day.
The market in Traction opened at 35,
UP half point from yesterdays close.
The first sale was l0-share lot follow
ed by a l20-share block az the same
price Three more l0-share lots were
sold at the same figure
Two l0-share lots then changed
hands at 36ls. followed by the three
more transactions totaling 30 shares
going at SO. the closing price. The
market closed with 355l bid and 36l2
asked. The days sales totaled 25O
shares.
Commercial National sold at PIG to-
day. Liberty National came out at 1875
and American Security & Trust
registered 3z7.
Potomac Electric per cent preferred
sold ex dividend at llli2, $50 shares
of National Mortgage & Investment
preferred changed hands a. and
Peoples Drug Stores preferred closed
at 100 Railway & Electric preferred
moved at 961, ex dividend.
Bonds were again in quite good de-
mand quotations being steady.
Heard in Financial District.
tor