Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-01-17
GOOD PROFITS SHOWN
!, BY TRUST COMPANIES
Reports Of Union, National Savings
and Trust and Washington Loan
and Trust for 1915.
High-Grade Local Bonds Were Low
er-Stock Business Small.
Bank Elections Held.
BY I. A. FLEMING.

The trust companies of Washington
found the year 1915 very profitable for
their business. as did most Of the finan-
cial institutions of the city. This. too,
desp,te the slowness of real estate and
also Of local securities. the collateral
back of many trust company loans
Tho National Savings and Trust Com
pany reports a gross profit as result
Of the year 1916 Of ss50.567.Ss and a
gross expense of s155.132.71 leaving
ret earnings s1s5,4s4.s1. The deposits
of tho company at the close of the
year were s7.552.5ss to the credit of
$4,000 depositors.
The Union Trust Company reports for
the year 1916 S34o.o72.44 as gross earn
ings; expenses. exclusive of interest
paid, S111.2279s: interest paid to lie
positors. sS2.S25.45. leaving net earn
,ngs of s146,o1s,os. The deposits were
s4452,S1771.
The Washington Loan and Trust
Company scored a gross gain of s444--
t64.16, with gross expenses. lncludlnS
interest paid to depositors. of s2S9.-
as1.es. leaving net earnings at sl5f,-
1865.
Bonus to Employees.
At the first meeting of the new board
of directors of the National Savings
and Trust Company bonus of 10 per
cent on salaries was voted to the entire
force Of the company. and in addition
many increases in salaries ordered.
Munsey Trust Company Election.
The annual election of the Munsey
Trust Company was held this after
noon. The only change was the sub
stitution Of S. J. Henry as vice pres
ident. a position held since the forma-
ton of the company by C. H. Pope. who
has been called to New York by Mr..
Munsey to assist in the conduct of a
new national bank there.
The list of officers Is now as fol-
lows: Frank A. Munsey, president: s.
]. Henry. vice president: Wilton ].
Lambert, secretary and general coun-
sell: A. B. Claxton. treasurer, and o. g.
Claxton, assistant treasurer. James Fl.
Braden, co-manager of the 18th and H
streets branch. has been added to the
board of directors of the corporation.
North Capitol Savings Bank.
Stockholders Of the North Capitol Saw
ings Bank yesterday elected these di-
rectors: e. g. Burgess. George Clagett.
NJ. o. Chance. o. C. Donahoo. Daniel
Doody. Robert A. Dore. John A Eclkert,
H. C. yesterday, James W. French.
Vernon NJ Green. 3. L. Grove. Edward
r. Hall. W. Hunter Haycock. Gustav
Hartig. Joseph A. Herbert, ST.: Lewis
Holmes. Theodore Michael, H. P. Pills
hurry. George f. Phillips, NJ. r. Ready.
Leo A Rover. Clifford Sparrow. Charles
B. Stewart. Leon 8. Ulman. G. H Wins
low. Charles E. Young and F. L. Zirkle.
These officers were elected: Theodore
Michael, president: James W. French,
vice president; v. c. Dickey. vice presi-
dent: B. l. Grove, vice president: W.
Hunter Haycock. secretary; J. Sobotka,
cashier. and Leo A. Rover. attorney.
High-Grade Bonds Lower.
The feature Of today's session of the
Washington Stock Exchange was the
development of weakness in the high
grade bond issues. Capital Traction IS
and Washington Gas IS. For some time
these issues have remained firm around
1oT. Today the Capital Traction IS
weakened after the regular call to
l06&. after opening at 1868. and
Washington Gas IS sold at 1861, drop
of y point. Potomac Consolidated IS
fractional loss. One sale of Railway
As. q $500 bond. was reported at SPY.
Odd-lot transactions were the order
of the day in stocks. In all, 81 shares
of Railway and Electric preferred sold,
in small amounts. at S2k to s2h,
while eight shares of Washington Gas
brought Il to 711a.
A sale of Commercial National Bank
shares at 1e2 and two quotation lots of
American Graphophone common at 100
and 161. completed the record.
or for Holiday.
Frank W. Stone. vice president of the
National Savings and Trust Company,
and Frank B. Devereaux. connected with
the same institution. will leave Saturday
evening for Augusta, Ga. Golf for ten
days before returning to Washington, is
their program.
Condition of the Treasury.
The condition of the United States
Treasury at the close of business yes
terday was:
Net balance in general fund. ss4.27s,-
s7I.
Total ordinary receipts. SS,154. 1915.
Total ordinary payments. s4,219,609.
The deficit this fiscal year is S140,871,-
2s0. against deficit of $50. S69 672 las,
year. exclusive of Panama canal and