The Washington times., 1914-03-17
NEW BANK ISSUES
ARE WELL TAKEN.
descriptions to Shares OF Two
Banks Coming in Rapidly,
Officials Report.
By GEORGE H. GALL.

subscriptions to the capital stock
. The new Franklin National Bank
4 re reported as coming IN rapidly
: ,Iayt looks will close at CLOCK
I : afternoon, at which time oIhcers
{ the bank expect to announce the
] suit.
Diticers Of the Washington and
.outnern Bank also report today that
. DESCRIPTIONS to the new stock OF
AT bank are being received in good
, ylume. The capital is belng III
, yased from SlVU,000 to sSoO,ooo'
National Metropolitan Bank stock
idv a Few hi2h record on the i"cal
~luck Exchange l. Day when l'IE
hares were taken at 20i, Two pcihts
hove the last sale and the laSt hlSh
id Quola.IoI-s closed al -SSV.
tter TWO quotation lols ma tSet
ALen on lhs regular cal. Gu- tIe otI
4 .0I WIS made again illter 1''i' 'N
brought out another loI .ho
a FAR as can he as:ertaiucd !Ee
.rvrar,i movement of the stock has; no
,irnlficance other than the reahZa'l"ii
Of in, stnrs that u per cf"t p~Snn ~
, lock ought to be- worth more ina"
,cent quotations.
This was the only feature OF toiaE
? rldil,s. OlEer stock -=leS #" OF
- .ictional lots and single shares, WIFI
-,, iuI,urlaue Ciiahge in price, eNSePt
. me Ca,c Of Gas. whIrh scli at ~
. SIS for few single shares lh"re
b as no pond trading.
i'orcoran Thom vice president ana
ust officer Of the American security
I'd Trust Company, was promoted "
. rkr charge of the banking departments
ne position held by howard ReeslGe,
.rv president of the W aShnston SdS
.lSht Company. 10y tee directors thls
al ternocn. .. a
4 I,eet was made trust officer ana
{ hester flather assistant t>~st oIncef'
The directors also declared the reSu-
.4r dividend.
Directors Of the FRANKLIN Fire IN
, trance Company have determined 10
D gl-idate the company. There has peen
I'M, question as 10 whether an at
I mpt would be made TO re-ors aillIS ~
I'D continue business under the old
. ire. but final decision has peen
f'hCbed 10 dissolve, according to one
ar the leading directors today. Inc
/ rankin was chartered by Congress IN
. .IA Its insurance Was secehtiy VIII
ten by Massachusetts company
The census cotton report today showed
, SttCn. exclusive of linterS. consumed
I. uring February to have been 456,2 2SS
. INNING bales. compared with HS'us'
last year: cotton in manufacturing es
d
/ aIes. compared with l.SSS.966 in 1915:
and in independent warehouses I95.ooi
,rales this year, against 2,2lI,6l9 last
y ear -
Imports were a0,7Tl equivalent 80
pound bales. against 34,G59 in 1918; eX-
ports, including linters, Ij0.90 running
i,aIe. against 59o.9lI in 1913. Cotton
spindIes active during February were
II ,l:s. 40 against 80, SO, 4SG in 1913.
Linters consumed during February
were -. 45s bales in February, against
-S.IIe a year ago: held in manufacturing
Establishments, $3.50 bales, against a.
- in 1915; in independent Warehouses.
IA bales, against $3.50 year ago;
Eported, 3. .S2J bales in February, 1914.
Irving Owings has been elected third
. lc,4 president of the Bank of Com
rnerce and Savings ana will serve ac-
,Ively in connection with the banks
usnS.
Col r. s. Turk of Staunton, Va,
leader in the organization OF the Frank
in National Bank of this city, has
dded his voice in favor OF the :'elec-
: on Of Washington as site 1or a re-
-ionaI reserve bank. Colonel Turk has
written the organization committee a
:rrung argument in favor of the Capi-
al