Evening star., 1938-10-01

includes the
Boulevard Apart "' "'''''
ments, situated near the site where
the new War Department Building is
to be erected. This fact has turned
much attention to the bond issue, ru-
mors being current that the Govern
ment may buy the apartment build
ing. In such an event, the bonds
might be retired very advantageously
to the bondholders. Regardless of
what may or may not happen, the
bonds have been actively bought and
sold in recent weeks. Since the War
Department constructions were an
nounced, the bonds have advanced
from A to 81 or SIS.
The demand for many other issues
Is said to have been strong. At pres
ent Consolidated Title Co., Inc, IS
are the highest-priced bonds in the
over-the-counter list. They are selling
around 100. Hamilton Reality first SIS
are quoted at s5 bid, while the bid on
Barber & Ross stands at 85. Wash
ington Auditorium first IS. which have
scored a notable comeback, now COM
mana bid OF 30.
Bank issues have stood particularly
f1rm IN the last three months. The
bid for Anacostia Bank stock remains
at $50, City Bank. II; Columbia Ma
tional. 200: East Washington Savings.
IA; Hamilton National. 26A Munsey
Trust 80; National Metropolitan, 22O:
Second National, so; Security Savings
Il Commercial, 125. and Union Trust.
rs. The asked price on many of these
stocks is much higher, holders not
being at all anxious to sell.
Other over-the counter issues which
are selling above par are Fidelity
Storage. on which the bid is now
lo5, and Grifdth Consumers preferred,
Tor which 104 is offered. The bid on
Washington Convention Hall preferred
is now IS.
Robey Heads A. I. b. Group.
The Program Committee OF the
Washington Chapter. American Insti-
tute OF Banking. is headed this year
BY Francis E. Robey. first vice presi-
dent OF the chapter and assistant
cashier OF the Bank of Commerce &
Savings. Mr.. Robey will be assisted
by j. Earle McGeary, w. B. Hibbs &
Co; John M. Christie. Riggs National
g. G. Turnbull, Morris Plan Bank:
Raymond Jones, National Metropoli-
tan; E. M. Blaiklock. Washington Loan
q Trust Co.; Stuart Ogilvie, Second
National; James Ahalt, City Bank;
Paul Seltzer. American Security &
Trust Co., and Elmer Flather, Union
Trust Co.
Forums, having as their speakers
outstanding men Of business and
financial ability. are planned for No
vemoer. January and May.
The high light Of the chapter wear
Is the annual banquet which will take
place the latter part of February
Fifth District Indices Up,
The Federal Reserve Bank of Rich
mond reported today that nearly all
fndices Of business conditions in An
gust and early September showed
more than seasonal advances and
compared more favorably with last
year than during the earlier months
Of 1898.
Member bank loans were I'D and
debts to individual accounts revealed
decrease Of only 6 per cent COM
pared with last year. Commercial
failures, however, rose 169 per cent in
number and 1874 per cent in liabilities
over August last year. New automo-
bile registrations were so per cent un-
der August, 1887.
shipments of rayon yarn set a rec
ord and surplus stocks OF rayon were
substantially reduced. Construction
work increased with contract award
ngures jumping, standing at 81 per
cent over July and 10 per cent over
August, 1887.
Wholesale trade showed a % per
cent rise over July of this year. Re-
tail sales in the first eight months of
1888 were only 4 per cent under the
1897 mark. Agriculture developments
were chiefly unfavorable in August
owing to dry weather, the report said.
Air Express Shipments Mount.
Marked increases in the number of
shipments handled and the gross reve-
nue. received in Nationwide air ex-
press service in August, compared with
the corresponding month in 1897, are
reported by Railway Express Agency
here. Shipments for the month num-
bered 58,308, an increase of l0.6 per
cent over August year ago.
Gross revenue from air express for
August was the highest for any month
on record except September and Octo-
Der. 1887. when all-time highs we're
made. The increase in revenue for
August over the corresponding month
In 1887 was sos per cent, according
TO the report.
The average weight per shipment
was So pounds. the highest for any
month since last September.
Financial District Notes.
Frank M. Perley, American Security
h Trust Co.. recently returned from a
cruise to South America where he
visited some of that continents most
interesting and important ports.
John A. Reilly, president of the
Second National Bank. has been spe-
cially honored by the Board of Trade
for his brilliant success in raising
funds for the Greater National Capital
Committee.
Red Cross representatives in the
bank lobbies report generous response
to the annual appeal for membership.
The membership drive never took
place at quite such an opportune time,
they say.
Y. E. Booker. head of the invest
ment firm bearing his name, is spend
ing the week end in New York and
Long Island.
William B. Chamberlain, manager
Of the safe deposit department of the
State-Planters' Bank g. Trust Co.,
Richmond. has been elected president
Of the Richmond Safe Deposit Asso-
ciation.
RUBBER FUTURES.
NEW YORK Oct r,,hhar