Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-14

manager; Joseph A. Burkart, counsel
and Chaplin B. Bauman, attorney.
Reservations Coming in Rapidly.
I. j. Roberts. chairman of the insti-
tute's Dinner Committee, reports that
reservations are coming in rapidly for
the big annual event which takes place
at the Willard on Saturday evening,
February 20. Last years attendance
was over 700 and it is expected that as
many bankers and guests will be pres
ent this year. The banks are taking
large blocks of tickets and no doubt a
good many out-of-town bankers here
for the management conference will
find it agreeable to remain over another
day.
In addition to speeches by Ben Alley,
president of the institute. and Rome @,
Stephenson, head of the American
Bankers Association, an elaborate en-
tertainment program has been arranged,
made up of the very best talent availa-
BILE It will be the first time that the
president of the American Bankers As
ISOLATION has attended one of these
local events. The affair Is open to all
bank officers and students in Washing
ton Chapter, of which Frank M. Perley
Is president.
Lauds Life Insurance Trusts.
Gilbert T. Stephenson, president of
the trust company division of the Amer
lean Bankers Association, recently is
sued a bulletin in which, among other
things, the following was said:
1.-THE truly astonishing growth in
the development of the life insurance
trust during the past decade has been
due, in large measure, to the active
and public spirited support of the great
life insurance companies of America.
The United States is the most heavily
insured Nation in the world. Seventy
per cent of the worlds life insurance is
here, although the United States has
only per cent of the worlds popula-
ton. approximately 100000 new life
policyholders were added in 1880"
Treasury Bills Far Oversubscribed.
Completion of the sale of S154.218,0 900
of 90-day Treasury bills at an average
of S99.695 is announced by Secretary
Mellon.
for. The highest bid was 99.783, equiv
alent to an interest rate of about OBS
per cent on an annual basis The
lowest bid accepted was 99.67l, equiva-
lent to an interest rate of about 1.30
per cent.
The bills will be dated February IS
and mature next May.
Bond Club Meets Monday.
The next regular luncheon meeting
of the Bond Club of Washington viii
be held Monday noon at the Carlton
Hotel, beginning at 1890 o'clock. Will
frid H. Hemingway of Hemingway &
Associates, New York City, will address
the club on Financial Analyses and the
Present Economic Situation" He Is an
outstanding authority on analysis and
Interpretation of financial statements,
and has Iectured on this and kindred
subjects. He is the author of "Finan-
cial Statement Interpreter" and nu-
merous other publications of finance.
He is also to give lecture on Sc
curity Analysis" at the Hamilton Hotel
Tuesday afternoon, at 4:30, TO which
he has invited all students of invest
ments to be present.
Other Financial Notes.
Charles w. Clayton, president Of the
Washington Association of Credit Men,
will preside at the annual banquet Of
the organization to be held at the Will
lard Hotel tonight and District Attor-
ney Leo A. Rover will act as toast
master.
The daily average volume of Federal
Reserve Bank credit outstanding during
the week ending February IL, as re-
ported by the Federal Reserve banks,
was $948. 900 900, a decrease of S19,-
900 900 compared with the preceding
week and of $3.50. 900 900 compared with
the corresponding week in 1880.
Net income of American Express Co.
(including American Express Co., Inc)
for wear ended December 81, 1880, was
Sl.29T,495 after taxes, reserves and
other deductions, against S2,538,646 in
1929.