Evening Star Newspaper, October 20, 1927, Page 13

FINANCIAL. FARMERS POSITION 600D FINANCIALLY Will Get More for His Dollars Than for 12 Years, and Have More of Them. BY J. C. ROYLE. Buecial Dispatch to The Star. EW YORK, October 20.—The farm- | er's dollar today is worth as much as any other man's dollar and at last he can swap dollars or products or services with any other line of industr on a basis of equality. Farm experts today declared it was this fact which was unquestionably behnd the opti- mistic pronouncements on business and industry made by President Coolidge and by varlous eminent financiers this week. On the basis of 1913 prices taken at 100, the Department of Labor figures show that prices for farm products and for, commodities in_general are each between 146 and 147. The farm- er's buying power has heen restored, and farm authorities declare indica- tions point to the permanency of such condtions Prosperity Wasn't Recognized. The mystery which has seemed to surround the optimistic statements has been due to the fact that agri- cultural prosperity has come back without being recognized. In fact, 1t has been ahsent so long that some farmers have not yet recognized the returned prodigal. Of course, the in- habitants of those scattered sections which have been hampered this year by adverse weather conditions ~will deny vigorously that prosperity has returned. So will those who have at- tempted to take advantage of farm distress for their own ends in one way or another. The farmers who were so heavily mortgaged as not yet to have been able to get their| financial feet under them feel like- wise. A man who is in the closest possible touch with the situation in farm products throughout the Middle West declared today that farm production was well adjusted to consumption in the important lines and that in those sections where the weather had been favorable it was on a basis whieh promised fair returns for some time to come, The outstanding feature of the farm situation continues to be the livestock markets. Cattle are selling at higher prices than at any time except during the war period. Not only is this aiding the farmer, but there is a fine demand for beef from the packers which has been aided by the policy adopted by the larger units in the industry of branding their beef products. Hog prices have fallen lately, but the damage done to corn by frost would seem to indicate that it might be reflected in later hog prices. More- over, indications do not point to any excessive supply of hogs throughout the country. There should be a fur- ther reduction in the stocks of pork products by November 1. Corn Crop Is Small. The bulk of the lamb crop has been marketed at prices ranging from $13 to $14 a hundred. Wool is in a strong position statistically and breeding herds seemingly have not been unduly increased. The prices for butter, milk and cheese in Midwestern market cen. ters are taken to reflect most satisfac- tory conditions in the dairy-industry. The corn crop, according to Govern- ment estimates, will be the smallest in several years, In; placed at 2,603, 000,000 bushels.. 'his is taken by many to indicate higher corn prices, but there:are many who take an op- posite view, declaring that in some sections the crops has been fine and ‘hat less corn will be needed for feeding purposes since herds have declined in ‘volume, The wheat erop both here and in Canada was and prices have fallen from their high point, but none- theless farmers in most cases were able to market -their wheat at local stations at a price which meant profit. These facts all mean that the far- mers of the country: &mhlbly will have more than $10,000,000,000 to spend. They will get more for their money than they have in the last 12 years and consequently ‘will spend more freely. This demand will work its way back through the veins of trade to the heart of commerce and industry, which will beat faster to supply the added calls upon it. POTATO MARKET DULL. CHICAGO, October 20 (#).—Pota- toes—Receipts, 107 cars; on track, 417 cars; total United States shipments, 1,406 cars; trading rather slow, market dull; Minnesota and North Dakota, sacked round whites, 1.40a1.50; bulk 1.30a1.35; sacked River Ohios, 1.40a1.45; bulk, 1.15a1.20; Celorado, sacked Brown Beauties, 1.50al. 75; Idaho, sacked russets, 1.60a2.00, ac- cording to quality. . Gets New Charge command- pper), who v to take command of Area on the retire- James H. McRae Maj. Gen. Hanso ant of the War was named tod the 2d_Corps ment of Maj. Gen. (lower). REN, ELY FINISHES WAR COLLEGE TASK Commandant Transferred to 2d Corps Area Post, Suc- ceeding McRae. Maj. Gen. Hanson E. Ely, who has served as commandant of the Army War College, Washington Barracks, for several today was relieved of that duty and assigned to command of the 2d Corps Area, with sta- tion at Governors Island, New York City. The change will take effect De- cember 24, on the statutory retire- ment for age of Maj. Gen. James H. McRae, now in command of the 2d Corps Area. The successor of Gen. Ely in command of the Army War Col- lege has been selected, but the as- signment will not be announced for several day: Gen. Ely is from Towa and was awarded the Distinguished Service Cross and the Distinguished Service Medal for extraordinary heroism in action and exceptionally meritorious services in France during the World War. He was graduated from the Military Academy in June, 1891, and assigned to the Infantry, in which arm he took part in the Gpanish War and the Philippine insurrection. He was a major general in the National Army during the World War and reached the same grade in the Regular estab- lishment in February, 1923, Gen. McRae, who closes his active service in December, also was decorat- ed for exceptionally distinguished services in the World War and has performed important military services at other times. He is from Georgia and was graduated from the Military Academy in 1896. His early service was in the Infantry arm, in which he reached the grade of colonel in July, 1916. He was appointed a brigadier general in the National Army in { August, 1917, after the United States | entered the World War, and was pro- moted to the temporary grade of major general in the following April. He has held the rank of major general in the regular establishment since May, 1922. LARGE TRADERS GONE FROM THE GRAIN PITS $600,000,000 Shaved From Corn Crop Value Without Making or Breaking Fortunes. BY OWEN L. SCOTT. Special Dispatch to The Star. CHICAGO, October 20.—This pres- ent severe decline in corn prices, shav- ing nearly $600,000,000 from the early season paper value of the crop, with: out making or breaking fortunes of traders, reveals that the great bears and bulls of yore are not now func- tioning in the grain pits. Those big leaders who used to stake millions on their judgment of world grain conditions and then reap either opulence or ruin as their reward have pretty well turned away from the board of trade to pay attention to the New York stock market. Not since the exciting bull market in wheat in 1925 have these grain kings been showing off. ‘There was some talk that this week's unsettlement on the New York Stock Exchange had been partly due to selling by Western traders who had lost heavily in corn. They were sup- posed to have purchased long lines of this grain at $1.05, only to see it drop off to 85c in a very short time. But the best informgtion among grain traders is that no particular FOREIGN EXCHANGE. {Quotations . Hibbs 3 Quotat Wfi:’lfln Insgx“ru Co.) 4.87% NEW YORK, October 20 (#).—For- elgn exchanges firm; quotations (in cents), Great Britain, demand, cables, 487 7-32; 60-day bills 4.83. France, demand, X , 3.92%. Italy, demand, 5.46%; cables, 5.46%. Demand—Belgium, 13.91%; jer- many, 23.87%; Holland, 4.21; Norway, 26.28%; Sweden, 26.93%; Denmark, 26.79%: Switzerland, 19.28%: Spain, 17.17%: Greece, 1.32%: Poland, 11.20: Caechoslovakia, 2.961;: Jugoslavia, 1.76; Austria, 14.08; Rumania, .62%; Argentina, 42.75; Brazil, 11.96; Toklio, 46.4 hanghai, 62.37%; Montreal, 100.12%. CHICAGO, October 20 (Special).— Although steel demand in the West continues quiet, with prices siightly easy, the mills look for new buying in | volume to result in a pick-up in pro- duction pace and a stiffening of quo- tations, owing to light stocks. FLORENCE, Wi Logging opera tions will be started soon on a tract | reported to contain 14,000,000 feet of | hardwood timber between Fortune and the Chicagoan lakes. The operation will take four years. The timber bor- dering the highways will not be cut. ATLANTA.—Cotton rapidly is dis- appearing from the flelds in the lower half of the foutheastern belt, where there is practically no top crop, owing | to the ravages of the boll weevii Farther north, it is reported, the| weevil has destroyed more late bolls than was anticipated. AKRON.—American tire exports will lead the trade of the world this year, despite the fact that numerous branch plants of American concer have been established abroad. The reason is the big increase in American automobiles sold abroad. Total ex- posts for the year are expected to reach about 2,825,000 casings. e e e traders have suffered severely in the collapse which carried corn from a high price of $1.20 down to 85c and below in a few weeks' time. And traders also say there was no out- standing bear on hand to reap millions as values slid off. The “big boys” of speculative trade have shied away from big operations in grain since the violent bull market of 1925 which collapsed so disastrously. EXPECT TREASURY ISSUE. NEW YORK. October 20 (#).—Mem- ber banks of the New York Federal Reserve Bank are being advised that a new Treasury issue is expected and the department is distributing the usual instructions for applications. The new financing relates to the maturing of second Liberty Loan 43, per cent bonds on November 15, about $800,000,000 of which are still’ outstanding. It Is thought the Treasury financing may be in the form of a dual issue of long- term notes certificates of indebtedness. FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Closing.) 101% mu‘. GERMAN BONDS AND STOCKS By Special Leascd Wire to The Star. W YORK, October 20, 55.00 100 Asked. 65.00 35.00 ! Red Loap with draw 1y uit per Joo R M. Ger Gt Red 1 Withoit aw ctfn per 1.000 R B oted iy Joliare per Hamburs 4% 19, (Onoted Aot G Ferlin' 48, pre-war -, Hambe Dusselort 3 ar “mk(nrl a- M %5 pre- M Drewtier 1 3 Deutsche Bank Darmstaedter Banik . Heyden Chem : fercur Fank Viehia r Ger Lloyd Austriun A'E G (Gen Eleci .90 | aso. THE EVENING STAR, WASHINGTON, D. €, THURSDAY, OCTOBER 20, 19°7. SEAFOOD IS SCARCE IN MARKET TODAY Nor’easter Along Coast Has Effect—O0ysters in Light Supply and Higher. Fish of all kinds and oysters were exceptionally scarce at Municipal Fish Market this morning, according to reports of dealers. The stock dealers had to offer was especially fancy, they reported, and prices also were fancy. Scarcity of fish was due to the re- cent northeast wind along the coast, it was stated, while scarcity o oysters was due to strict enforce- ment of the oyster law, reducing the size of the catches. Both fish and oyster pr! were much higher than prices a week ago. Oyster prices ranged from $2.25 for standards to $3 for extra selects, ordinary selects selling at $2.50. There were scarcely any hard or soft crabs to offer the trade. There was no demand for them, dealers stated, but there was plenty crab- meat to offer at 50, 60 and 70 cents a pound. Pollock 5 Cents a Pound. Pollock, the cheapest fish to be had, were quoted at 5 cents; haddock, the next cheapest, bringing 7 cents. There were plentiful supplies ot hali- but and salmon, the former selling at 20 and 26 cents, and the latter at 20 cents a pound Prices of other fish were quoted as follows: vorfolk spots and trout, 1214 cents: croakers, 15: rockfish, 30; speckled trout, bluefish, flounders, ; Boston mackerel, cod. 18. Egg prices continue to advance, while the butter market continues firm, but with no change in prices. Hennery eggs were quoted at 55 and 60 cents, fresh, selected at 47 and 48 cents, and current receipts at 45 cents. Prices of most other commodities this morning are substantially the same as prices reported yesterday. Today's Wholesale Prices. Butter—Fresh, 1-pound prints, tub, 50a51; store packed, 30a3l. Eggs—Fresh selected, 47a48; nery, 55a60; current receipts, Poultry, alive—Turkey: small and medium, 24a 26; Spring chickens, 28; rvm!to ducks, 18a20; keats, young, 70a75; old 35. 53; hen- Dressed — Turkeys, 40ad5; chickens, 33a roosters, 21a23; ducks, 18a20; capons, fancy, heavy, 38a40; smaller, ducks, 25; keats, 80a90. Meats, fresh killed—Beef, 18a20; veal, 23a25; lamb, 25a28; fresh ham 24a25; loins, 35a36; shoulders, 19a2 smoked hams, 23a26; smoked shoul ders. 18; strip ba-on, 25a2( lard, 15a 15%; calves, 15; lambs, 13. Fruit and Vegetable Review. Today's market report on fruits and vegetables. compiled by the Market News Service, Bureau of Agricultural Economics, says: Apples—Supplies moderate; mand moderate, market steady; boxes, Washington, medium to large size, extra fancy Delicious, 4.00, few higher; fancy _Delicious, 3.65a3.75; extra fancy Jonathans, 3.15a3.25; bushel baskets, Pennsylvania unclm(- sified Grimes, 2% inches up, 1.7 Virginia, U. S. No. 1, 2% inches up, Grimes, 2.00a2.25. Cabbage—Supplies moderate; de- mand fair, market about steady: New York, sacked per hundred, Danish type, 1.25a1.40. Celery—Supplies moderate; de- mand better, market firm; New York 2-3 crates, 2.00a2.25; mostly, 2.25. Grapes—Supplies of Eastern stock moderate; demand falr, market dull: Michigan, 12-quart climax basket Concords, 50a60; mostly, 55a60; Niagaras, 75; 2-quart climax_ basket Concords, 16a18; supplies of Western stock moderate; demand light, mar- ket slightly weaker; California, lugs Flame Tokays, 1.50a1.75. Lettuce—Supplies of Western stock moderate; demand light, market slight- ly weaker; California, crates, Iceberg type, 4-6 dozen, 3.00a3.25; few higher; poorer, 2.00a2.50. Onlons—Supplies moderate; demand light, market steady; Michigan and Ohio, 100-pound sacks, yellows, U. S. No. 1, large size, 1.75a2.00; New York, 100-pound sacks, yellows, U. 8. No. 1, large size, 1.75. Potato Market Steady. Pears—Supplies light; demand light, market steady; New York, bushel Spring and condition, wide range in prices, 2.50a3.50; few fancy, 4.50; bushel baskets, Bartletts, 2.75a3.00; ordinary ;o nfnir quality and condition, 1.50a .50. Potatoes—Supplies liberal; demand fair, market about steady; Michigan, 150-pound sacks, Russet Rurals, U. S, No. 1, 3.40a3.50; Maine, 150-pound sacks, Cobbler: J. 8. No. 1, 3.25a 3.40; Minnesota, 150-pound sacks, round whites, U. 8. No. 1, 3.40a3.50; 120-pound _sacks, round whites, U. S. No. 1, 2.85a3.00. Sweet Potatoes—Supplies light; de- mand light, market dull; Maryland, Eastern Shore, cloth-top barrel, yel- lows, No. 1, 2.15a2.25; North Carolina, cloth-top barrel, yellows, No. 1, 2.00. ‘Tomatoes—Supplies light; demand good, market slightly stronger; home- grown, %-bushel hampers, various va- rieties, 1.75. Caulifiower—Supplies liberal; de- mand moderate, market firm; New York, Long Islund, crate, 1.75; other New York, crates, poor condition, 75. Lima Beans—Supplies light; demand moderate, market dull; Eastern Shore, Maryland, bushel hampers, 1.50a2.00. WANT ASSETS DIVISION. NEW YORK, October 20 (#).—Pre- ferred stockholders of Great Western Sugar Co. are reported in Denver dis- patches to Wall Street to be contem- plating a suit to enjoin the company from paying further dividends on the common stock from surplus. An equitable division of the company's assets, which exceed $60,000,000 will be demanded, it is said. ERIE EARNINGS DROP. NEW YORK, October 20 (#).—The riers to report September earnings, shows a decrease in both gross and net compared with September last year. Gross revenues were $11,088,763 against $12,026,318 and total income $2,572,199 against $3,112,400 a year Surplus after arges was $1,- 345,892 against $1,872,351. S DIVIDENDS Corp, ber. Rate. Pasale. Record, Awar stores . ACE £ Tls e b1 Ocl i it § o Bruns Bros centrifudl, B Conn By & Lt.. Kenlucky otil Keystone Tel 3 Y 233009730 2303k CERREREO0 MY =23 Rolls Vanadian o De baskets, Seckels, No. 1, good quality | E Erie Railroad system, first of the car-|: Baby With $15 In Basket Found Near Front Royal Spectal Dispatch to The Star. FRONT ROYAL, Va. October 20.—Madison Pomeroy, a garage worker, found a- basket containing a baby girl and $15 on the Front Royal Winchester pike near the double toll gate south of here late vesterday. The baby was about two months old and healthy. Pomeroy brought the foundling here and turned it over to the sheriff, who notified the common- wealth's attorney of = Frederick County, in whose jurisdiction the find was made. DINNER IS PLANNED FOR FORMER EDITOR Wickham Steed of London, on Good-Will Tour, to Be Here November 1. Nearly 1,500 persons, prominent in governmental and civic affairs of Washington, have been invited to at- tend a dinner, to be given at 7 o'clock or. the evening of November 1, at the Willard Hotel, in honor of Wickham Steed, former editor of the London Time: The list of patrons is headed by am H. Taft, Chief Justice of the United States. Mr. Steed, who will be in the United States about four weeks, is scheduled | to deliver addresses in many cities on conditlons in the various capitals of Europe. He will speak’ in the interest of international good will. Preparations are being made to en- tertain him at monster meetings and dinners in other cities, including New York, Philadelphia and Detroit. Besides Chief Justice Taft, the pa- trons for the Washington dinner are Secretary of Interior Work, Senator William E. Borah of ldflho, Speaker Nicholas Longworth of the House, Rear Admiral E. W. Eberle, MaJ. Gen. John A. Lejetine, Brig. Gen. George Richards, Maj. Gen. Henry T. Allen, District Commissioners Proctor L. Dougherty, Sidney F. Taliaferro and Col. W. B. Ladue; Chief Justice Wal- ter L. McCoy of the District Supreme Court, Bishop James E. Freeman, Bishop * Willlam F. McDowell, Dr. Lucius C. American Charles P, chiet stafl; Dr. rvin, presi- dent’ of George Washington Univers. fty; Dr. Frank W. Ballou, superin- tendent of schools; Charles J. Bell, Harry K. Boss, D. Callahan, Charles F. Carusi, Edward fford, E. F. Col- Willlam Knowles Cooper, Dr. L. Darby, Victor B. Deyber, Joshua E\an! Jr.; W. W. Everett, Robert V. Fl!‘minl{, W. T. Galliher, Isaac Gans, Ju"llh Garfinckel, Charles C. Glover, : E. C. Graham, Gilbert Grosvenor, heorre E. Hamilton, John Hays Ham- mond, Harry V. Haynes, Joseph H. Himes, Frank J. Hogan, John B. Lar- ner, Frank B. Noyes, Julius 1. Peyser, Rev. Dr. Jason Noble Pierce, John Poole, H. L. Rust, B. F. Saul, Rev. Dr. J. R. Sizoo, W. W. Spald and Hugh A. Thrift. S e COTTON GOODS QUIET. NEW YORK, October 20 (Special). —Cotton goods markets were quiet to- day as print cloth prices were marked s at 8% for 64x60s. The stand: 8x728 were -unchanged at 9%. l(ul;\ silks were steady and moderately active, TREASURY CERTIFICATES. (Reported bvJ & W fiulllm{'uznto ’ ate—Maturity, R; 4193 Dec. 157102 digs Mar. 15 102 SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Bid Alum, Co. of Amer. Ss 1053 Tel. & Tel. Co.' 4u 1920, Aimirican Fnre Co o Anaconda_Cop Associated O s “103 Baltimore & Ohio @5 1 Batavian Pet Cor. 4 alifornia Pet. C. 5 2 ot C. Gend TPetroloum C ¥, Soodrien co. Goodsear t 23358 Orewcn “Short 1 Shhciate C.o0IL Pr-C. RS SITES Swift Inion nign SDop0500055555355) 23338 &8 REPORT OF CONDITION Potomac SIViI;gS Bank of Georgetown At Washington, in the-District of Columbia, A (e 088 T business on Octover 10, 1047 RESOURCES, and ‘forcixn ills of ex: iR Tndorsement 0t his wi rsemen Dl . $2,074.880.45 241.64 581,888.10 168.486.82 23,738.07 062.751.35 . Real estate owhed ‘other than banking house. Cash in vault and amount due for national banke.. - Amount " due companies in the United States (other thi cluded in it Total of ‘item: 10 and 115828773, 87 . b Miscellaneous cash ite; . Other assets, it any 166.022.22 288118 $3.681.102.40 LIABILITIES, Capital stock paid in gll\‘n]\ls fund ... " $74.088.80 expenses paid. 20.520.23 27, Cortiied cmrunm $100.000.00 75.000.00 53.548.63 4.358.85 14.816.01 174 86 28...810, Denmn.l devosits " (other bank den Total” of ‘démand” deposite » 10 00103 (other lhuu hm!k dep its) “aublect ject ante atier 30 or_subject to 30 daye’ or more notice, and postal savings) : . Savins denoetss. (including time' certificates of de- posit “other than for money borrowed) ... ... Total o!'me resorv. 0 31007108 +++.$8,681.103.40 or_of_the abors: at - the best of my 2.100.377.07 Subgeribed 141y da; of TWO GIVEN HONOR OF SCOTTISH RITE Canadian and Mexican Made Emeriti Members of Su- preme Council Here. The election of two prominent visit- ors, Alfred F. Webster, grand com- mander of the Supreme Council of Canada, and Tomas E. Ramos, grand commander of the Supreme Council of Mexico, as emeriti ‘“members of honour” of the Supreme Council, An- cient and Accepted Scottish Rite of Freemasonry, Southern Jurlsdiction, was announced at the House of the Temple this morning. They are en- titled to wear the decoration of the Honorary Grand Cross of the Court of Honour. The metings of the Grand Council will continue through Saturday. Reg- ular sessions will be held tomorrow and Saturday. Tomorrow évening at 8 o'clock the council will convene for the purpose of conferring the thirty-third degree upon the designates chosen for that honor. Word Recelved From Abroad. Among the prominent visitors in attendance are George Bonceseu, an active member of the supreme coun- cil of Rumania and now attached to the Rumanjan legation here; Robert L. Clegg, president of the Masonic History Co., historlan and author; Arthur D. Prince, past grand master of the Grand Lodge of Massachusetts, and Reynold E. Blight of Los An- geles, editor of the Masonic Digest. Communications from many for- eign countries, read at sessions of the council, show a healthy growth in Scottish Rite Masonry throughout the world, except in Italy, where the Rite ahd Masonry are declared to present a “sad spectacle,” both hav- :’nxl been crushed by Premier Musso- ni. An open meeting of the Supreme Council yesterday afternoon was ad- dressed by three prominent educa- tors, Miss Charl O. Williams, field secretary of the National Education Association; Dr. Lloyd H. Marvin, president of George Washington Uni- versity, and Dr. Charles F. Carusi, president of the National University and of the board of education of the District. “‘The school children of today,” sald Miss Willlams, ““are the citizens of tomorrow, and the future of our coun- try rests upon education. This enter- prise is, therefore, of infinitely greater importance than any commercial un- dertaking. Yet agriculture, commerce and labor each has its Secretary in the President’s cabinet, and is thus represented in the discussions which take place at the White House every Tuesday and Friday morning when the President confers with the heads of the 10 executive departments of | our Government."” Urges Curtis-Reed BilL. Miss Willlams urged the enactment of the Curtis-Reed bill, or a similar measure, for tho creation of a de- partment of education with a secre- tary in the cabinet. o student has a right,” declared Dr. Marvin, “to remain in an institu- tion of learning for a period of four years unless during that period of time he prepares himself better for life’s activitles than he could in any other place during the same period of time." Speaking briefly on the proposed es- tablishment of a national university at Washington, as proposed originally by George Washington, Dr. Carusi re- viewed the unavailing efforts that have been made in the past to have Congress establish such an institution, and declared his bellef that the' idea would not come inte fruition unless either somo existing Institution or a newly created one should have be- Charter No. 4247. Reserve District No. 5. REPORT OF CONDITION LINCOLN NATIONAL BANK At Washington, in the District of Columbia, at the close of business on October 10, 1927. RESOURCES. . aLoans and discounts, including rediscounts, acceptances of other banks and foreign bills of exchange or drafts sold with indorsement of this bank . Overdrafts, unsecured .. . U. S. Government securities o +..$5,358,406.84 1,835.10 a Deposited to secure circulation (U. 8. bonds par value) .... b All other Unite cluding premiums, if any) . Total .. . Other bonds, stocks, securities, etc. . Banking houses, $345,248.53; furniture and flx!ur:!. 330 075.24. . Real estate owned other than banking house .. . . . Lawful reserve with Federal Reserve Bank . . Cash in vault and amount due from national b States Governmenl securities (in- .$120,000.00 311,845.50 411,845.50 954,434.19 375,323.77 244,789.30 400,057.93 371,763.42 owned . Amount due from State banks, bankers and trust companies in the United States (other than included in items, 8 and 10).. . Exchanges for clearing house 246,166.90 132,008.28 . Checks on other banks In the same city or town as reporting bank (other than item 12) . Total of items 10, 11, 12 and 13 . Redemption fund with U. 8. Treasurer and due from U. 8. Treasurer ..... . Other assets . Total 31,046.43 .$780,979.03 . 6,000.00 692.47 .$8,551,964.13 LIABILITIES. . Capital stock paid in . Surplus fund a Undivided profits . c Less current expenses paid . Reserved for taxes, interest, etc., accrued . Circulating notes outstanding . Amount due to Federal Reserve . Amount due to national banks $400,000.00 ... 400,000.00 .$265,032.17 61,024.05 — 204,008.12 22,500.00 2,261.09 a Amount due to State banks, bankers and trust cvmpaniel in the United States ... . Certified checks outstanding . Cashler’s checks outstanding . 401,761.67 14,696.89 23,872.59 Total of items 24, 25, 26, 27 and Zfl . Demand deposits (other than bank deposits) subject to reserve (deposits payable within 30 days): . Individual deposits subject to check .... . . . Certificates of deposit due in less than 30 for money borrowed) .. . Dividends unpaid 2,968,223.32 48,420.00 176.00 Total of demand deposits (olher than bank deposits) sub}ect fo reserve, items 29, 30 and 6,819.32 Time deposits subject to reserve (payable after 30 dn)'s. or subject to 30 days’ or more notice, and postal savings): 35. than for money borrowed) . 37. Other time deposits . Total of time deposits subject and 37 . Savings deposits (including time certificates of deposit other 3,682,547.76 86,921.50 ems . oee..$3,769,469.26 43. Bllls payahh (mcludlnx ail obllntlons representing money borrowed other than rediscounts) .....oceerevesssnecccannnn. 165,000.00 teveeesssessssesnantecsnnssssncascessss. $8,551,964.13 . JAMES A. SOPER, cashier of the above-named bank, do solemnly swear that the above statement is true to the best of my knowledge and belief. Washington, D. C., s. Subscribed and sworn to before me this 19th day of October, HELENA D. REED, Notary Public. (Seal.) Correct—Attest: FLOYD E. DAVIS, H. R. NORTON, with indorsement of this bank. 3. U. S. Government securitie premiums, it any).. 4. Other bonds, stocks, securitie: 6. Banking houses, $1,412,123.98; ’ $263,697.50 10. 11 12. Exchanges for clearing house. Total of items 10, 11, 14. aChecks and drafts on banks of reporting bank......... b Miscellaneous cash items Total . Capital stock paid in 20. Surplus fund ... . aUndivided profits.... b Reserved for contingencies . Amount due to nat onal banks 2 Certified checks uullu.mdlm; . Treasurer's checks outstanding.. 2. Overdrafts, secured, $23,195.45; un:;curld 31 177.13 ow! b All other United States Government securities (including Real estate owned other than bnnklnl’ hause . Cash in vault and amount due from national banki Amount due from State banks, bankers and trust cnmmm(e- in the United States (other than included in item 10). . Other asSetS ...cuuvccinvericisnnecciiianaccsnanineenns c Less current expenses paid ....... . Reserved for taxes, interest, etc., accrued ‘Total of items 25, 26, 27 and 28 JAMES A. SOPER, Cashier. 1927, ALBERT S. GATLEY, JOHN W. BRAWNER, Directors. Reserve District No. 5. REPORT OF CONDITION Of the AMERICAN SECURITY & TRUST CO. At Washington, in the District of Columbia, at the close of business on October 10, 1927. RESOURCES. 1. a Loans and discounts, Including rediscounts, acceptances of other banks and foreign bills of exch!nge or drafts sold “9 514 082.54 24,372.67 3,635,560.73 7,227,680.35 1,675,821.48 85,148.00 2,970,786.95 1,104,678.35 605,157.28 turniture ‘and fixture (inc Reserve Bank) located outside of Lly or town ..$760,084.25 764,772.83 327,564.61 teereereraaeaneee..$37,935,625.69 $3.400,000.00 8,000,000.00 Reserved for clerks’ pension fund. ——‘603 384.56 PErrr 2,828.52 600,556.04 92,793.00 3 15.14 272,043.60 15,520.77 65,934.47 rust companies $697,013.98 Demand deposits (other than bank d.posits) subject to re- serve (deposits payable within 30 days) . Individual deposits subject to check .. . Certificates of deposit due in less than 30 dnyl (other than for money borrowed) 2 . Dividends unpald .. Other demand deposits Total of demand dep o Ject to reserve, \toms 29 30 38 and 34, .$16,870,087.70 Time deposits subject to reserve (payable after 30 day: subject to 30 days’ or more notice, and postal savings): 5. Savings deposits (including. umn certmculel o( depoult other than for money borrowed) 15,191,282.48 14,972.67 95,950.00 1,567,882.56 . 13,275,174.97 Tot: ,986,6265.69 District of Columbla 88, I, CHARLES E. HOWE, treasurer of the above-named bank, do ultmnly swear that the above statement is true to the best of my knowledge and belief. CHARLES E. HOWE, Treasurer. Subscribed and sworn to bctort me lhu 18th day of October, 1927. (Seal) ‘WM. H. DORSEY, Notary Public, D. C. Correct—Attest: C. J. BEL! HOWARD MORAN, ‘ORCORAN THOM, CLARENCE A. ASP!N’WALL. JAMES M. GREEN, Ry th o om;%. L bllc Corrgct—Attest: Eunry " fl‘“‘- utt, W. 8. CORBY, CLARENCE F. NORMENT. JOHN F. WILK Pl SRy s Directors, FINANCIAE, hind it the full force of some great national organization. Leon M. Abbott, grand commander of the Northern Supreme Council, U. 8. A. replying to an address of welcome, stressed the close relations existing between the two supreme councils in this country and briefly sketched the construction work that they are uccnmpl'thg NEW YORK, October mber sales of ordinary w:fiSep life {nsur- ance in the United States aggregated $606.760,000, an {increase of about $9.000.000 over September, 1926, the Life Insurance Sales Research Bureau reports. New business in the first nine months this year was 3 per cent more than in the corresponding 1926 period. September sales in New Eng- land were 3 per cent ahead of a year ago, totaling $45,914,000. Massachu- setts led with a monthly gain of 12 per cent. Vermont led in the nine month period with a gain of 9 per cent and surpassed all other States in the country for the 12 mon:hs ended Sep tember with an increase of 13 per cent. September sales in Canada were 1 per cent ahead of last year and 6 per cent ahead for the year to date. REPORT OF CONDITION INDUSTRIAL SAVINGS " BANK. At Washington, at in the District of Columt the close of business on October 10. RESOURCES. 1. aLoans and discounts. in- cluding rediscounts, ac. ceptances of other ‘banke and n bill % Qrerdrafts, unsecy 4715 overnment securities ecure circula- bond 2.150.00 4.534.50 . Other “bands. " ko ities. ete.. own . Banking house, furni $5.632 35.172.21 *eauiy ‘snd "amoint due from national banks. 28.465.55 due from banks. bankers, cluded in item 10 12. Exchanze for learing houss Total of items 10, . b Miscellaneous 49.048.08 2.208.75 619.35 . .$504.242.08 LIABILITIES. 10. (‘amlal stock ‘paid” i $50.000.00 lus fu 9.000 00 . 10.928.02 outstand- “ Denses paid. 27. Certifie in 711712 1.736.03 610.50 checks T Total ‘of ‘items and PN Demand deposifs (other than bank deposits) eublect to (deposits payable day deposits subjact 0 check.. . 150.201.80 Certificates of o in less than (other than rowed) . $2.346.62 wif 29. anld\lal 30 for money 2 16.508.71 170.40 deposits (other than bank_de- posits) subject to reserve. ftems 20, 30, Titne dopoaite’ sabject 15 e serve (payable after 30 days. or subject to days’ or_more “notice. . Savings _depos time. r-erunum of" d"h other, th i wed ) . Other ‘time of 35 and "sa10.800.34 Total ot .$564.242.08 mn(n'p'x of Coluny BOWIE, “ashier of the abos namied do solemnly swear that the khmelesmamanu- true to the best of my nowledke an WM. A. BOWIE, ‘ashier. Subscribed ard sworn to before me this 8th _day of October. 1927. (Seal.) CHAS. items 37 CUNEY. Notary Publie. SIMMS, 5 mwn:ll ACKSO: Birectors. vB Pagiet Ne. 3. 1T10: Correct—Attest: JOHN H. WALTER 'S WM. H. Charter No_ 1028 Ressrve T "REPORT QF GON Farmers & Mechanics’ National Bank At Washington, in the District of Columbia. 8t the close of business on Gctober 10. 1027 RES SOURCES. 1. aLoans and discounts, cluding _rediscounts. ceptances of other banl and foreign hills of e change or _drafts sol withindorsement et can: cr aDenortied” o, secure cir- Tation. (¥, "8 "Dond Dar value) smnoflnm b All other United e et nremiime Gavernment |"‘” "‘. $116.715.55 f any) 216.715.55 1.400.856.86 381.620.10 54.057.80 serve Bank. 217.934.10 with _ Federal serve Bank 'in ‘brocess . Cagh §n vauit and ‘amoint n fl nal lumlu 27.710.77 162.026.05 63.435.64 e 33.654.91 . Ch’(‘,l! '\ll olhnr hanks’ in s &%:fl orth mm» "Hhan Tem 12} 2.252.35 Thtl nf Teme 8 1 t‘lh' and l i . m'—m- ilnrmfllnl “ed fed “"r‘ xie 'mmr'un. “"‘"fl" o1 b0 $T44.08 eltnneous Cash items. . . .15.850.70 - Redemntion fund with Treasnrer and due ure; 23.604.37 5.000.00 40.048.00 $4.617.787.50 $252.000.00 350,000.00 d%e noss2.00 $151,093.67 Less current ‘expenses paid 149.513.74 10.399.02 Circuiating roiating sanding 100,000 00 Amount " diis Nwrvu !ank Mefzrnd . certined” 7.519.23 26.845.32 5.708.08 0.072.61 devoits ~ (other than bank deposite) sub. ject to- remervy payable withi davs 29, !ndwmunl depoplll -umm 3, mudmd- *npald Other Jemand _dei Total of demand depos " (other ‘than hank de- posits) subject to serve, itema 20, 3 e depos IR AN A x tal savings denoai lllo! time deposite suk- 37 and AR 85 04K phz 4 . Billa pavable Niactadin imations _epresen u.su.-m.w ® 18 L Al Charter Ng 10218 Federal-A ~ierican National Bank At Washington in the Di ot 4 ot th'close of business 05 Ocrober 18, TORR centarices banks and foreien bill of exchange or sold “with “the ind: ment of this bank .. Overdrafts. unsecured U. S Government securi- 482.310.23 353.175.48 owned X Bmkmx “houss, S11483 1.506.278.38 640,875 98 048.303.78 tnan bankink house, Lawful resarve with Fed- ral Reserve Bank. . . Treme with Federal ® Re- secve Bank in process _of collection Cash ta vault and amount N national banks x - Amount due’ trom ‘State banks bankers. " and trust companies in the United States (other thap inciuded 1n 1tems R 9 and 10 105.481.91 from 516.770 26 111.761.92 407.373.98 12, Exchanges for oiher * banks g, fame city oF reporting ban founer tpan Hem 121 Total of Items 0.10. 1 1.201 mn o » Chiecks ' a0 ha ks lineluding - Fed- serve Bank) lo- tside of city of reporting fund " with 59.673.00 bank Rf":mnllflfl 0.9 U. 'S, Tre 00 A38280 .$16.007.606.85 LI \BILITIES :.31:338.808.08 Caital stock patd 1 S'iroius, fund " orofits . . .$231.226.40 ¢ Lese current e ol 22. Reserved for 230.521.00 20.800.63 50.000.00 taxe: 157.309.79 207.517.43 230.161.98 5.957.78 73.257.58 reserve havable itk 29. ludhlduu nleno-m sub- 3‘&."""?' \mgll:’l er demand, depos otal of " demand (other " devositn) ) m- Time " davostte - sublect to reserve _(pavabie after 30 davs, or sub- ‘T L h A l“ll)l - Lighi s, ose above. stated ned bi do _solemnly awear 7: ;M\Okal'll!m!dnlbelll‘ ;fll. fo the best of my owledks o g e belet chas. . BOYER, Subseribed and_sworn to before uu’&l- mm D, oy of Ogiober, 1027, .,..., W%" Correct—Attest: . A. HILL. " HAM, ek g REPORT QF CONDITION OF &e NATIONAL SAV- INGS & TRUST, COMPANY At 15th_and New York ave. n.w., in Wash- ington. D Teulie ot Sustmess on October 10, 1927. u.'r: n’rflun RESOU 1. aLoans and discounts, cluding rediscount ceptances of other Mnlu and foreign bille of ex- chango or drafts sold with ln-l«rnmenl ot nk this ba $0,870.750.97 - Overdratts, “'se ured. s 3443170 unncurm. 460.56 1.200.995.87 30, (umnun and $181,202.56. . . Canh in vauit and smoun e Trom nationa banks . Amount due !mm Sllle 1.576,019.87 764.508.00 1.330.204.37 54,245.86 -$38.504.52 1 J e 50.023.02 2:100.70 $13.030.480 31 . Other assets Total . Ln\mu‘flzs 9. Capital stock 1.000.000.00 a nd beep #1:06:086.08 118.558.77 732.088.32 6.281.17 9,260.01 1.721.08 7.261.26 & (other posit rve (de- within 764,105 e+ ) . Diviends unbaid Total of demand dej lother “than_ban| save 3 - 3.335,801.13 - ol "nnmfl'smn 3 cr' 80.043.50 LTS o and 97, items 35 3,415 844 02 46. Letters of * credit an Havelers’ checks eold for cash and_outstand- ing 10.000.00 Ilmlnl 'l lnn o thl dsl'"lug RY, Treasurer (Hl' °'A2°n'§u!n I", mg;' 2.) {My commission expires Dl‘lrlehnlg é:‘ lnmhu v{ v.kn the above st of my knawl