The Washington times., 1914-04-14
NEW BANK OPENS
IN WASHINGTON
Former Branch of Munsey Trust
Company Has Already 4,000
Depositors.

The Exc. 9nge Savings Bank, of
Washington, recently organized to do
a general banking business, opened at
. o'clock this morning. This institution
was. until recently the branch OF the
Nunsey Trust Company located at
Twentieth street and Pennsylvania ave
nue. northwest. In order that its pa
irons and the general public may have
opportunity to acquaint themselves with
the new organization. the doors VIII
be open to visitors until . o'clock this
evening.
The new bank has $4,000 capital:
surplus of $1,000: resources of more
than $4,000. and approximately 1900
depositors. It's officers are Robert l..
Montague, president: NJ. F. Finley, first
vice president: Victor J. Evans, second
vice president: Elmer Sothoron, treasur-
er; John B. Flynn, cashier. and William
r. Nasel. assistant cashier. The BOARD
OF directors consist of NJ. E. Buckley,
D, Connor, II. N. Dixon, ]. E. Donovan,
William V. Griffin. Hugh Harvey,
George C. Havenner, c. Clinton James,
N. 7. Kesne, P. T. INLAND, H. B.
Polkinhorn. E. T. Quigley. Alexander
Taylor and Edward W. Whiteside.
Mr.. Montague the president. is a
Virzinian, but has been closely iden-
tfied with business interests in this
city for many years. He is a MEM
Der or both the District of Columbia
and the Virginia bars. and for the
last five years has been actipely- as
ssciated with the banking business.
He was vice president of both the
Providence Saw Bank and the
Mercantile Bank which later lost
their Identity through consolidation
with Other institutions. He is now
director in the Union Savings Bank.
AIR. Flynn the cashier, Is likewise
Nireinian. but has resided in Wash
ington- fer thirty years. and was for
tile business here.
W. B. Hibbs g. Company are dis
tribVtlng among their patrons copies
OF their Year Rook of American
Securities and Financial Diary for
1914. a publication presenting a SIM
pltfied digest Of corporate affairs and
business fundamentals. The volume
contains the essential data desired by
bankers, brokers. investing corpora
tfons and business men generally, and
presents IT in form which does not
require. close study and expert inter
pretation. The dates of all important
financial events since 1871 are set
forth, and schedule of corporate
events for the ensuing year is given.
In addition there are a series of
lens of immediate importance which
have been prepared by men enjoying
national and. in instances, interna-
tfenal regulations.
A brief was fled by the Atlantic
Coast Line. Southern, Philadelphia,
Baltimore and Annapolis and other rail-
roads. today. in the suit brought before
the Interstate Commerce Commission
by the freight bureau of the Merchants
and Manufacturers Association. Of
tons to Southern cities are asked. The
petitioners assert that the ail-rsil
rates from New York. Philadelphia and
Baltimore to Birmingham, Ala. should
be no higher than the combination OF
rail rates from these points TO Norfolk,
plus the rates from Norfolk to Birm-
tngham. The raiiroal companies. in
tbeir brief. content thar the rates from
Norfolk to Birmingham are abnormaily
low. and that the through rates COM
planned of are neither unjust ncr dis
cfiminatory.
There was a decides falling off in the
amount of business and interest at to-
days session Of the Washington Stock
Exchange.
The number of sales recorded were
fewer by far than had been expected
following yesterdays general reYiavL
Capital Traction, which yesterday sold
AZ the low level Of recent years. 100,
remained at that figure today, and
nur1Hg the regular session. 5ive shares
Of that giit-edged stock again sold at
par.
Railway preferred was firm, selling
around SC1z and 81. Five shares of this
stock brought 81; twenty-five, $751; and
o1 the after call seven shares changed
hands at SG;5.
Ten shares of Mergenthaler sold at |
EltS.
There was but little change in the |
other listed securities.