Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-12-26
LOCAL BANK CHANGES
Some of the Current Gossip in
Financial Circles.
AS TO TRADERS NATIONAL
Details Given of the Proposed Plan of
Reorganization.
BANK OF WASHINGTON PLANS
New Interests Are Said to Be Given
Representation on Board
of Directors.
AS TO TRADERS NATIONAL
BANK OF WASHINGTON PLANS

There is some interesting gossip afloat
in regard to probable changes in the-case
of two of the national banks of the city.
Next month the annual meetings of the
boards of directors of the various institu-
tons will be held, and, as rule. announce
ment is made at that time of any change
contemplated in dividends or any increase
in the stock or change of management. III
is expected that some news of interest Will
be developed in the case of at least two OF
the Institutions.
1t is understood that 1t is proposed to carry
out Il plan of reorganization in the Traders
National Bank. According to the current
talk of the street all the details have not
yet been determined upon. but it is under
stood that Mr. George c. Henning VINO,
since the change in the management of the
bank some two years ago, has been presl-
dent pending permanent arrangements, Will
retire AS far as known no selection has
vet been made of his successor.
The name of Mr.. r. II. Lynn. the cashier
of the American National Bank has been
mentioned i'm the street gossip as the one
that those in control of the bank would like
to see at the head of the institution. 1t IS
stated that there has not been, as yet,
formal tender of the place to Mr.. Lynn
and while Of course. it is not known what
course he will pursue in case it Is rendered,
the general belief is. owing to his relations
with the bank, of which he is an ofhcer
that he will decline to accept any position
which will make it necessary for him to
sever his official connections with the
American National Bank.
Vice Presidencies.
According to the program which has been
spoken of, there will be no change in
position of first vice president, which is
ctnn hn1 IL
or in the bank and who also has banking
connections in the state of Virginia.
1t is also understood to be contemplated
TO create an office of second vice president,
and the name that is slated for that posi-
ton is Mr. George Mitchell, who is the
president of the Mitchell Copper Mining
Company Mr. Mitchell is a man of large
means and, il is understood, has acquired
a considerable holding Of the stock of the
bank and intends to become identifed with
that institution in a business way.
Bank of Washington.
II is also a part of what is currently
talked about in financial circles that at the
coming meeting of the stockholders OF the
Bank of Washington next month some rep
resentation will be given on the board to
those who have recently acquired quite a
block of the stock.
1t Is probably not correct to use the word
acquire in the sense of the ownership OF
the entire block Of stock being changed,
but rather that certain proportion OF the
stockholders. said to own some 800 SHARES
out of a total capitalize tion of 1000 shares
have given their consent to plan which
contemplatcs some time in the future the
merging of that institution with the Cen
trail National Bank.
1t is not understood that anything of the
sort is to be done Immediately, but it is be-
Neyed, as stated, that men not at present
on the board of directors will be elected at
the coming meeting. The execution of the
further details of what is believed TO be
the plan of considerable number or the
stockholders will not be attempted to the
extent of causing any change in the present
relations of the president of the bank Mr..
Charles 4. James, to that institution Mr..
James il is believed, will continue to be the
president of the bank as long as he may
desire to retain that position.