Evening star., 1917-01-10
JOHN ]. EDISON QUITS
BANK PRESIDENCY
Declines Reelection as Head
of Washington Loan and
Trust Company.
JOHN B. LARNER SUCCEEDS

John Joy Edison, for the last twenty
two years president of the Washing
ton Loan and Trust Company. this
morning declined reelection at the
hands of his directors. some OF whom
have served with him during his en-
tire term of office.
=. In a feeling little talk Mr.. Edson
conveyed to the directors of the trust
company his deep appreciation of their
honor in proposing to re-elect him
assured them that he was conscious OF
the able manner in which they had
upheld his hands and administration
during the years that he was their
leader and announced that his retire
ment was in keeping with an agree
ment which he made with himself years
ago to retire from the seventies OF
work when he became seventy years
old.
Will Not Remain Idle.
He did not propose, by any means, to
be an idle man during the years that
might be his. he said, but would re-
main on the board of directors. would
look after the Equitable Building As
sociation, of which he is the execu-
tive. and always would have a deep in
terest in the success of the Washing
ton Loan and Trust Company.
The directors then elected Mr.. Edison
chairman of the board, position when
he accepted.
They then chose John B. Larner as
president of the company. The new
preeasnt has been director or the
: banH Tor many years, and has held the
position of vice president and general
counsel.
for long time been actively and ably
concerned in its executive management,
and his election as president is considered
to mean a continuation of the company's
conservative policies.
Explaining his retirement from the
presidency of the trust company, Mr..
Edison said to Star reporter:
In declining reelection as president
Of the Washington Loan and Trust
Company i have acted in accordance
with a well matured decision, reached
several years ago, that would not con?
tinue in that office after reaching the
age of seventy.
The laws of our military service pre-
scribe that its officers shall retire at
the age of siXty-four-that being the
most suitable age. all angles of the
question being considered, that could
he decided upon. The law governing
tire retirement of judges of the courts
generally. l believe, fixes the age at
seventy. 1 have exceeded one and
reached the other. have carefully
considered the reasons that brought
about these laws and am convinced
that they are wise and better for a
man. as well as the business in which
he has been engaged-after an active
career-to stop while he is still in pos
session of his full mental and physical
strength.
7 feel well. in as good health as
ever. and better able than ever before
to handle the business in which I have
been engageI-understan more per-
fectly its technique, require less time
TO decide questions and am more accu-
rate in my action. Nevertheless. 1 be-
lieve 1t entirely proper to take the
course have under such circumstances
and in the years that are left to me to
avoid heavy responsibilities and the ex-
acting duties the Office of president of
the company entails.
BY no means do I intend to be an
idle man or citizen. / shall be as in
terested and 1 hope more useful than
ever in certain general public direc-
tions In which / am now and may here
after be engaged"
John Joy Edison long has been a
prominent citizen of Washington, al
ways to the fore in charitable. benevo-
lent. financial. building and civic work
in the interest of the District of CO.
lumbia and its people.