Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-01-17
NEW STOCK OFFERED
Federal National Bank Shares
Put Up at 100.
FIRST PAYMENT TOMORROW
Officials Issue Cab and Second Will
Be Asked for Feb
ruary Is.

Notwithstanding the fact that 1t is not
yet listed. the stock of the newly organ
lied Federal National Bank was offered
Tor sale today on the Washington Stock
exchange. There was only one offering.
eight shares. at 100. Charles ]. Bell OF
the American Security and Trust Com
pany bid 127l2 for it, and ]. T. Hendrick
bid 12s.
Officials of the bank issued a call to-
day FOR the first payment on the stock
to be made by noon tomorrow. Fifty per
cent will be required to be paid by that
time. and the other 30 per cent will be
called in February Is
cation for which has already been ap-
proved. will be granted by the controller
of the currency this afternoon.
PROGRESS is being made on the fitting
up OF the new bank. in the old Small
building at 18th and G streets northwest
opposite the Commercial National. the
directors of which seeded to form the
new institution. Four of the Office force
OF the Commercial National Bank Will
join the force of the institution: Charles
b. Lyddane. as note teller: Herbert v
Hunt. as paying teller: Daniel c. Smith
son. as receiving teller, and Charles D.
Boyer. as general beokkeeper These
men held similar positions in the Com.
mercial National
The Federal National will issue month
ly statements to depositors. which will
do away with the system in vogue in
most washington banks. of balancing
pass books monthly. These statements
will show the amount deposited as de-
posted. and the amount drawn, as drawn,
and 1t is expected that the instaIla ton of
the new system will shorten the book
keeping of the pank by half
Subscriptions Being Received.
subscriptions in small lots are still
being received by the officials of the
bank. although offers totaling more
than $1.250.000 have been received from
would-be shareholders. The stock has
not yet been fully allotted, and a meet
ing of the directors win be held for
the purpose of granting as many small
applications as possible. so that the
bank shall have as many depositors
and shareholders as can be obtained
William F. Ham, one Of the directors
who was elected by the Commercial Ma
tfonal Bank stockholders Tuesday, when
it was found that the Jordan interests
were in control. has resigned from the
of the Commercial, following
the withdrawals of those who started
the new Federal National Bank although
1t is not announced that he will enter
the Federal organization.
The directors of the Commercial who
4uduicu yesteFuay are a. I.~ Chapman,
Wade II. Ellis. formerly Omitted States
attorney from Ohio; s. ]. Henry. vice
president United States Trust Company;
Arthur Lee West Virginia coal and coke
railway; H. Bradley Davidson. president
Real Estate Trust Company James
A. Cahill, Real Estate: and In
surance; rR.. Golden Donaldson,
lawyer; ex-senator Charles j. Faulkner
OF West Virginia, attorney; Arthur Peter,
lawyer; H. King Cornwell of G. G. Corn
well 4 Son, Tucker X. Sands. o. q. Sta
Piles. capitalist: Eldridge e. Jordan, pres
ident United States Trust Company; Ar
thur E. Randle, real estate; Dr. George
Tully Vaughan. John p. Story. jr., real
estate
Ashton G. Chaplain was elected presi-
dent, Eldridge E. Jordan. Tucker K
Sands and Arthur Lee were elected
vice presidents. and Frank E. Ghiselli
was elected assistant cashier. The posi-
ton of cashier has not yet been filled.