Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-09-09
LOCAL FINANCIAL NEWS.

Ever since the publication in The star
last week of the rumor that Robert y.
Harper, formerly president Of the Amer
lean National Bank, is in the field as an
active candidate for reelection to his
old post. and that r. H Lynn, the pres
ent president of that institution, is
slated for the presidency of the Unlted
States Trust Company discussion mas
been rife in local financial circles con-
corning the internal policies of both
these banking houses. From informa-
ton received from particularly trust
worthy source today it can be almost
positively stated that Mr.. Lynn will be
chosen president of the United States
Trust Company at the postponed annual
meeting of the board OF directors, which
is TO be held Monday October Il.
In the affairs of the American National
Bank. however. not nearly so definite a
program obtains. Mr.. Harper is a can
didate for the presidency, and. as indi-
Gated last week, not few of the strong
est stockholders in the bank have been
approached for proxies to be voted for
him. President Lynn has stated he will
not oppose Mr.. Harper's candidacy in
any way, but it has developed within the
past few days that there is considerable
opposition among other directors in the
bank to the reelection of Mr.. Harper
In fact, 1t is understood this OPPOSE
ton has prepared the form OF an agree
ment to Tx a price for the stock, and at
that price to either buy out Mr.. Harpers
interest in the bank or else sell their in
tereSt to him.
If the former solution to the difficulty
is chosen, persons in position to be
well informed of the future planned for
the bank have vOuchsafed the positive
statements that MIR. Lynn will be chosen
to succeed himself in the presidency
Calarfinn 10 office
president of the United States Trust
Company will in no way conflict with his
duties at the bank.
At the annual meeting yesterday of the
stockholders of the Merchants and Me-
chanics Savings Bank held in AleXan-
dria, the following directors were elected
10 serve the ensuing year: Emmett l..
Adams. Bert T. Amos Henry p. Blair,
X. E. Burks, A. d. Carpenter, Samuel d.
Cole, L. NJ. Cook Charles w. Darr, r. a.
Dore, c. H. Fred, Anthony Gaegler, Will
liam A. Gordon, Thomas p. Hickman,
Eldridge E. Jordan, George r. Linkins,
Michael G. Mccormick, 2. j. Nee, Owen
owen, Julius l. Peyser. Lester b. Platt,
A. ID. Prince, 3. j. Smith, Jr.; Emanuel
Speich. James Strayer. Charles J. Walk
err, Benjamin Woodruff, c. NJ. Woolf and
o. B. Zantzinger.
The officers were reelected as follows:
Eldridge E. Jordan, president; Michael
Peyser, second vice president; ]. Fendall
Cain, cashier, and II. Owen Thompson,
assistant cashier.
William G. WOrthington, manager, and
Irwin Owings, assistant manager, 18th
street branch.
Considerable activity was manifested on
the stock exchange today at the call of
LanstOn. For many days this interest re-
manned practically dormant, but there was
some buying yesterday at the standing
quotation of liz. When Lanston was
reached on the list today liz was bid
again, but there was no offering at the
price, and when the stock was offered In
blocks of 100 at II it was snapped up
rapidly Altogether nearly 1000 shares
changed hands at that price.
United States Trust was also active il
small way today, but the bidding did not
continue in the upward trend, which, ear
ly in the week, seemed to portend par and
better for the stock within the very near
future. The first sale was at 30. but
rapid-fire offerings had the effect of
off a half point, SO that the stock
closed at 9Sk.
Steady bidding for Capital Traction dur
ing the past week eliminated today in
several offers of 131 for the stock, and
about fifty shares were sold during the
hours session of the exchange.
Acting Secretary Moses read to his fell
low members of the exchange a formal
notice from the American Security and
Trust Company, receivers for the Column
bia Fire Insurance Company, calling upon
SO that dividend of $50 per share might
he Maid in partial liquidation.