Evening star., 1939-09-18

CQleI, DIVISION OF H. j. Neeuhdh'
Examinations, Federal Reserve Sys-
tenn is another delegate.
Preston Delano, controller of the
currency, is one of the headline
speakers on the program. Among
suburban bankers who will attend
are President T. Howard Duckett OF
the Prince Georges Bank & Trust
Co. and C. L. Robey of Purcellviile,
who was president of the Virginia
Bankers Association last year.
Bergan Joins Mackubin, Legg.
John P. Bergan, who has been CO.
manager Of Winthrop, Mitchell &
Co. became co-manager today of
the Washington Office of Mackubln,
Legg e. Co., in the Woodward Build
ing, it was announced in the finan-
cial district.
Mr.. Bergan has been in the
brokerage business in the Capital
since 1925. first with Redmond &
Co. and later with j, and w. Selig-
man & Co. From 1880 until 1884 he
was with Stein Bros & Boyce, being
one of the youngest managers OF
any stock exchange house in the
East when he was given that position
in 1882. In 1884 he went with
Hartman & Keech and in 1887
Joined Winthrop, Mitchell & Co.
Charles B. Quarles has been with
Mackubin, Legg & Co. for nine years,
was made assistant manager OF the
Office in 1888 and year ago became
acting manager.
Flather Lauds Convention.
Robert L. Flather, assistant sec
retary of the American Security &
Trust Co., was back at the bank
today after attending the Financial
Advertisers Convention at Toronto
More than 300 attended the meet
ing. The program was unusually
interesting and the Canadian city
gave the delegates wonderful
greeting. Stephen H Fiield of
Jacksonville, Fla, was elected presi-
dent for the coming year. The con-
vention was invited to meet in
Washington next year, in Philadel-
phia and in Florida. Decision will
be made later.
Harry G. Meem, president of the
Washington Loan g. Trust Co., re-
turned to his Office today after
a months sojourn in Colorado
Springs with his daughter, Mrs.
Edward Beale Mclean, jr., and his
first grandchild, born in August.
Hugh Leach, president of the Fed
left here Saturday to attend the
A. B. A. Convention in Seattle.
ID. c. Banks in National List.
Washington has of the 262
commercial banks listed in the final
1889 edition of the Rand McNally
Bankers Directory, just off the press,
that have over $25 100000 in total
resources. They are:
Riggs National Bank, ranking
slst, with S1O4,842,0OO; American
Security & Trust Co, ranking 123d,
with S57 $50 900; Hamilton National
Bank, ranking 234th, with s2S,493,-
600; Washington Loan q Trust Co.,
ranking 246th, with S27,O42, 900; Ma
tional Metropolitan Bank, ranking
253d, with $26220,000
Total resources of the 262 banks
in the list amount to $40,17322 10000,
of which these five District of Co.
lumbia banks have S244,256000. To-
tai resources of all District of Co.
lumbia banks amount to S374,260,000
These figures show gain Of five
banks and S2.562 SAL 900 in total re-
sources of commercial banks with
over S25, 100000 in resources through
out the United States in the last six
months.
Real Estate Bonds Lower.
Average prices of real estate Sc
curities in August declined "a per
cent, making the decline from Jan
uary ST. per cent. or drop in dollar
value of about Sl9 per $1,000 bond
according to Amott, Baker & Co
The average dollar price of 200 issues
used for the comparisons was $3l5
a $1,000, compared with 1926 at the
end of July.
The decline is laid to unsettled
international conditions and not tC
any great amount of selling. Bids
were dropped on very small vol
ume. Issues secured by housekeep-
ing apartments were the only ones
showing an increase in August,
per cent. Hotels, apartment hotels
and office buildings declined.
The review says that Mayfowel
Hotel first IS dropped two points
National Press first 35s one point
and National Press 5l2s, IL pei