The Washington times., 1914-02-06
BANK TO CELEBRATE
CENTENNIAL YEAR
Farmers and Mechanics Ma
tionaI Preparing For Its One
Hundredth Birthday.
By GEORGE H. GALL.

NANANoN -. NEAAH'
On Saturday, February Il, the farm
ers and Mechanics National Bank will
celebrate the centennial anniversary Of
its organization To commemorate the
event the bank is having prepared a
| book descriptive OF the history of the
| institution, written Uy c. II. CTa9in.
one of the directors. The history will
he ready for the occasion. A recep-
ton will be rendered by the officers aid
directors of the bank.
The Farmers and Mechanics National
Bank was organized February IL 1914,
and took its national bank chaTte" in
| 1872. 1t is the third oldest bank in
the District, being antedated month
by the National Metropolitan Bank and
| ave years by the National Bank of
| Washington. The Farmers is the only
| bank in the District not included in
| the city of Washington by the Comp
| troller of the CurrenCy. Separate re-
; ports are made Cor the Farmers, as
being located in Georgetown.
| William King Is president of the in
stitution; Robert u. Weaver. vice presi-
c. W Edmonston, cashier; and l.. S.
Frey, assistant cashier. The directors
| are Joseph II. Bradley, c. II. Cragin,
J. L. Dyer. William King. G.. L. Nichol-
n. h. y. D.. u. VI.
r. b. Weaver Deposits in the bank at
the last Comptroller's call amounted to
5000. u
Instead of requiring banks to deduct
income tax lat the source" a move
merit is on foot by the American Bank
ers' Association to ask Congress so to
! amend the income tax law as to require
banks only to furnish information to
the Government. John II. Mason, act
] {-o hot Of commit
tee Of the trust company section of the
American Bankers Association, has
sent a petition to this effect to the
local trust companies and to all in the
| country.
The banks are unanimously of the
| opinion that they were handed A
| lemon when they were required to
| collect for the Government without
compensation. The petition reads as
we. the undersigned hanks. bankers,
and trust companies hereby petition
| that the act of October ,, 1918, with
respect to the income tax, be amended
| at the earliest possible date, 10 pro
| vide for a method OF information at
| the source in lieu of the present pro
visions of collecting at the source
THE present method of collection at
the source adds many unnecessary
| complications to bondholders and
other investors: il has added enormous
/ " to the expenses of banks. bankers
| and trust companies, and the labor in
| investigating and making refunds yearly
will cost the Government vast sums OF
money. all of which can be avoided.
Under a plan of information at the
| source all complications and unneCes-
! sary expenses aggregating up into the
| hundreds of thousands of dollars an
nually, will be eliminated and the Gov
ernment will be in possession OF more
| information for the veriication OF the
returns Of individuals and corporations
under the law as Il now stands.
We further petition that in the event
| that the law is not speedily amended as
above. that an annual appropriation be
made by Congress for the reimburse
ment of banks. bankers and trust CON-
panies for the extra expenses 10 VIII ch
| they are subjected in acting a. agents
for the Government in the collection OF
| the income tax"
Capital Traction took 1 tumble and
Washington Railway issues advanced
sharply in todays trading on the local
Stock Exchange Capital Traction
sold at 112 for an initial ten shares
| and ticn dropped to 11l5E for a quota
tion lot. A final five shares was sold
at Ill.
Washington Railway common opened
| at 9G for twenty shares and 927s was
p6Id for a quotation lot. The 4 per cent
bonds &Iso advanced. A $3.50 bond sold
| at Sc. a S1G9O bond at S0l%, and another
at sos.
The other bond trading consisted Of
5000 OF Capital Traction IS at los and
500 of Potomac Electric first SIS at
| 1861.
Ten shares Of Norfolk and Washing
| ton Steamboat sold at 1JO; six shares
| OF Gas at S3i2 and five shares Of Mer-
Ccnthaler at 2l6i~ and three at 4 less.
tCdGv for the tirst time in three weeks.
| He has lust returned from a three
week tour of Georgia, Tennessee, and
Kentucky Mr.. llcndrick reports every
| cne pro- porous in the South.
The Drainage Excavating Company
| has been Incorporated with a capital Of
| $25OOO by Mccarthy Hanger Ellsworth
a. Dewey and Edmund 5. Wolfe.
The Great Falls Gold Mining Company
has been Incorporated with a capital 0f
| 81. $1,000 bv william F. Kvie, L. c. Boyd
and p. i. Garrett.
The regular quarterly dividends on the
common and preferred have been de-
clared by the Washington Railway and
Electric Company.
Samuel n. Ham. former national bank
| examiner. las been elected = vice
president of the Fidelity Trust Com
| pany of Baltimore.
Blackburn Becomes
Resident Commissioner
Gen Joseph {. 5. Blackburn. former
Kentucky Senator, was made resident
commissioner on the Lincoln Memorial.
| to succeed tn" late Senator CuIlom by