Evening star. [volume] (Washington, D.C.) 1854-1972, 1936-05-02

dclI1 VI Vic UISSS NdGIOlldl bdllk anu
chairman of the Committee of Ar
rangements, announced today.
Among the guests will be Mariner
s. EccleS, chairman of the Board of
Governors of the Federal Reserve
System; j. F. T. O'Connor. controller
of the currency, and Leo T. Crowley
chairman of the Federal Deposit In
surance Corp. Melvin C. Hazen, head
of the Board of District Commits
sioners, also is on the guest list.
In addition to Gov. Eccles, the Fed
eral Reserve Board will be well rep
resented by John K. Mckee, M. S.
Szymczak and Ronald Ransom, two
of these governors being recent ap-
pointments to the board, taking Office
since the reorganization went into eff
feet.
William P. Folger, chief national
bank examiner, and I. I. Chorpening,
chief national bank examiner in the
fifth Reserve district, are among
many more guests who have accepted
invitations.
The program, which will not con-
tain more than one address, will be
announced shortly, Chairman HoSkin-
son said today AS usual, the after
noon will be given over to golf and
the prizes awarded in the evening.
General Convention Chairman Ord
Preston will announce the latest plans
for the coming annual gathering at
White Sulphur Springs. which were
completed a few days ago.
Bank Directors in New Book.
The directors in WaShington'S %
banks have been listed for the first
time in Facts and Figures on Wash
ington Securities, just published by
Y. E. Booker & Co. All the officers
also are listed. This is the first time
the officers and directors have been
listed, except in the newspapers at
the time of the annual meetings.
Much information also is appended
about dividends, capital stock. sur
pluses, deposits. book values and
range of prices during the year. The
review shows what bank a nd trust
company stocks are listed on the
Washington Exchange and which are
sold over the counter.
The publication presents many
facts about the Norfolk & Washing
ton Steamboat Co., which have not
appeared in the preceding nine edi-
tons. After deducting total liabilities
from total assets, the balance sheet
shows a surplus of S789,303. Book
value of the stock, as of December 81,
1885, was S257 per share. Net cor
porate income in 1885 was slightly
better than 1884 because of an in
crease in passenger traffic.
Terminal Refrigerating g. Ware
housing Corp. also gets an extended
review for the first time. In 1885
the company earned, after interest
and depreciation, but before taxes, a
net of S102,98l.35. Dividends paid
during the year amounted to 1000
and the company had a reserve of more
than S897,000 at the end of the year,
compared with $769,3O9 for the pre-
ceding year.
The whole book does great credit
to the firm and to the compiler,
Myles H. Quail.
Deposits Up $4,000, 100000.
The April issue of the Federal Re-
serve Bulletin gives deposits, exclusive
of bank deposits, of all banks as
of December 81, 1885. as $48 $50 00o.-
O00 This figure is slightly more than
Sl0,000,000 more than the figure
of S38,505, 100000 at which deposits
stood at the end of 1888 The lowest
figure in the last five years was on
June 80, 1888, when deposits of all
banks amounted only to S37,998, 000,-
600.
Deposits at the end of the year 1885
were larger than they were at the
end of 1881, when they amounted to
S45,821 100000. but they are not as
large as on June 80, 1881, when they
amounted to s51, 1872 100000.
Banks Share Aid to Farmers.
The part which commercial banks
play in financing American agricul-
ture was set out in the Federal Re-
serve Systems current bulletin, which
carries study by Norman J. Wall,
Department of Agriculture economist.
Some of his findings include:
About 26.5 per cent, or $346 $780, 900
of farm loans held by commercial
banks on December 81, 1884, were not
secured by any collateral being repre-
sented only by Endorsed or unindorsed
notes.
The decline in farm credit extended
by commercial banks from $5,317,374s-
600 in 1920 to 81 ,306, ASS 900 in 1884
has been accompanied by an expansion
of Federal farm loans to more than
$4,000, 100000
The Governments farm mortgage
reflnancing program put an estimated
$250,o0o,o00 in the hands of CONNER
cial banks between May l, 1888, and
December 81, 1884.
Heard in Financial District.
Amended regulations governing the
issuance of insured modernization
credit by private financial institutions
under the amended title of the Ma
tional Housing Act have been mailed
by the Federal Housing Administra-
ton to all its field offices and to all
of the 1872 institutions which have
been extending modernization loans.
After IL successive monthly ad-
vances, the market appraisal Of 100
representative common stocks turned
definitely lower in April, according to
the monthly compilation of Frazier
Jelke g. Co. Valuation of the stocks
dropped $1,768 100000, or 8.5 per cent,
in the month to $18,974, 924,00 from
S20,743 ,484,00 at the end of March.
Plans for broader program Of pub
lie relations and advertising for the
Association of American Railroads
and the railroad industry in general
were approved in principle by the
board of directors of this association
at a meeting today in Washington.