The Washington times., 1913-01-19
IN LOCAL FINANCIAL CIRCLES
By GEORGE H. GALL.

Tomorrow morning at 9 O'Clock the
Federal National Bank will open its
doors for general business at its new
banking rooms at the southeast corner
Of Fourteenth and G. streets northwest.
A week ago few knew that another ma
tional bank In Washington was even
contemplated, yet the capital stock has
been subscribed three times, presi-
dent and vice president chosen, staff
of clerks made up and a former flower
store transformed into a banking house.
In addition to President John Poole
and Vice President N. H. Shea, the fol-
lowing officials will be on hand at the
opening Of the banks doors tomorrow
morning: Frank J. Stryker. secretary to
the president; Charles B. Lyddane. as
sistant cashier and note teller; Daniel
c. Smithson. receiving teller; William
seay. paying teller, and Charles d.
Boyer. general bookkeeper.
Large safes have been installed for
use until permanent vaults can be had.
Under the direction of Harry Wardman
the old building has been made a mod
ern banking room in five days.
Cash to the amount of about S50o. 900
has been paid in toward stock and sur
plus subscriptions and was deposited at
noon yesterday with the Riggs National
Bank. A price of 13l. a premium of 8,
was asked for the stock on the Wash
ington Stock Exchange yesterday, with
bids Of 100
Gen. T. Coleman du Pont, one of the
directors Of the new Arlington Hotel
Company. of which Eldridge E. Jordan
n a e al fod
of the Commercial National Bank.
William Loeb, jr., of New York, at
tended the Washington Railway and
Electric Company's annual meeting yes
terday. Mr.. Loeb is to be identified
Hartman & Co., investment bankers,
of New York city. whose Washington
manager is G. Bowie Chipman, an
nounce that they have secured the
services of Thomas c. Shotwell. Of the
New York American financial stan,
as manager of their customers depart
ment. Mr.. Shotwell is well known
through his daily financial reviews
which have appeared for years in the
leading newspapers of many cities of
Washington holders Of Lanston and
Mergenthaler stocks are much inter-
ested in new typesetting machine
being manufactured by the Information
al Typesettins Machine Co.. which vii,
be placed on the market in February.
The company is also manufacturing
and marketing at present matrices,
space bands, and all supply and re-
pair parts for linotype machines.
The company win manufacture two
grades of machines, an improved Mon
oline machine and another new ma
chine, designed primarily for users Of
small financial resources. 1t announces
that II has taken over the patents and
applications for patents on the Anal
gatype machine for the United States,
CaEade, Great Britain, Germany.
France. Austria. and Belgium. 1t also
Monoline Composing Machine Company.
OF West Virginia ....-
The stock Of the company consists OF
81, ,0D0, 900 preferred and 5000. 900 common.
Its factories are located in South Brook
lyn.
Interests allied with the Mergenthaler
Linotype Company are awaiting with
great interest the advent of the new
machine thinking that it may infringe
on their patents. Philip T. Dodge, pres
ident of the Mergenthaber Linotype
Company, says: "All the modern Iino-
type machines are covered by a long
line of patents, and no machine of
modern design can be made without in
fringing them"
Barber & Ross. OF this city. have
taken the order for $50 tons OF structural
steel required for the new building for
the Department OF Commerce and La
Dor at Pennsylvania avenue and Nine
teenth street northwest.
The Greene-Cananea Copper Company
has declared a regular quarterly divi-
dend of 25 cents q share, payable March
l. TO stock OF record February TO-
Bank clearings in the United States
for the week ended January 16, according
to Bradstreet's tabulatlon, aggregate
week. a decrease of Se27.s12,0oo. The
weeks figures, however. are $217, Go Oo1
more than the same period last year.
when total exchanges were So. 4So. Sol 60
Canadian clearings aggregate s182. .3e6,
90. as against S2c9. ~ 600 last week, and
sl47.sI4,ooo in this week last year.
Leslie NJ. Shaw. former Secretary OF
the Treasury, has been dropped from
presidency of First Mortgage Guarantee
and Trust Company of Philadelphia and
Wharton E. Harris elected president
pro TEN.
II. L. Duer. Of Whelan. Duer & Lana
han, J. Selwin TAFT, president of the
Washington and Southern Bank, and
c. T. Williams. manager OF invest
ments OF the Fidelity Trust Company
Of Baltimore. are making arrangements
for the meeting of the board Of COVER
nors OF the Investment Bankers Asso-
citation, TO be held in Baltimore. Janu-