Evening star., 1919-01-23


by the. officers and employees. Of Riggs
National Bank and individual horal re-
naefnbrances from Mr. and Mrs. Joshua
Evans, Charles Glover, jr., and from
Willtams King, the .retiring president.
Mr. Haynes, who is past president of
the washington Chapter of the Afneri-
can Institute OF Banking. will make "a
speech at the chapter tonight and pre-
sent on behalf OF the chapter testi-
rnoniai to Roy l.. Neuhauser, the rettr-
Ing president.
MI. Kiug's Bank Career.
s William King. who retired from the
presidency of the Farmers and
Mechanics National Bank of George
town at the close Of business yester-
day. has served six consecutive terms
AS president of that institution. and
has been associated with the bank as
director and its president for ABOUT
twenty years. He is veteran citizen
of Georgetown and senior member
Of. the firm of William King Son.
toal merchants. That business was
established in 1887 by John Dickson,
bequest for the founding and main
tenance of the John Dickson Home
in Washington as memorial to MS
father.
William King, father of the retiring
president of the Farmers and
Mr.. Dickson in the founding of the
business
Mr. King of the Farmers and
Mechanics Bank is William King, 3rd
William King. his grandfather. was
born in ireland, and was brought to
America when he was four years old.
The family settled in Georgetown. the
family home being for three genera
Itions on Congress street, now Slst,
below Bridge street, now M street.
i - h> no nh d.
ing. Its site is covered by a new
building. William King. 1st, married
Christina Fowler, a widow, OF George
town. One of his sons was James
King, who for many years was book
keeper in Riggs Bank. He went to
California in 1919. and it was the
Shooting of him by outlaws in San
Francisco which was one of the
factors leading up to the creation OF
the San Francisco committee OF
married Henrietta Smart of George
town. The retiring president Of the
bank has two sons. Leroy o. King,
who is associated with him in bust-
ness. and Kenneth King. =
Mr.. Kings object in resigning the
Mechanics Bank is that he may devote
some time to his private affairs and
have more time for the enjoyment. OF
sweIl-earned repose and recreation
Elected Bank Cashier.
: ChariessC. EckIoff has been elected
BY the board of directors of the Cen
trail Savings Bank as cashier. vice
Thomas. E. Moore, who has resigned
to enter the government service as
auditor in the bureau of internal
fevenue. Mr.. Eckloff was member
of the star of the Second National
Bank forfffteen years. but during the
optc al xarifI, fHs T.
ing division of the Treasury Depart
ment. ~.
The assistant cashier of the Central
Savings. Bank, Ralph e. Burgess. has
rendered his resignation, to take ct.
the bank have accepted Mr.. Burgess.
Resignation with regret and have
4f0pted appropriate resolutions ex-
pfessinE their sense of loss at his
departure and their wishes for his
future welfare.
Sales on the Local Exchange.
On the washington Stock Exchange
today $1,000 Washington Gas 5s sold
1T 9S and $1,000 Potomac Electric
consolidated SIS vat 933s. After call
two five-share lots of Capital Trac-
ton sold at ssh
Finds Revenue Levy Legal.
A brief prepared by the bankers
Information service says that Con-
Eress is entirely within it's constitu-
tional rights in senactingt In the year
1913 a revenue Taw levying taxes on
profits earned by corporations and
individuals in 1918. the constitutional
srrohibitiops against ex post facto
sleEislafion not operating in this case.
The question had been raised in
Congress. at the Treasury and in
corporation law Offices throughout the
country as to whether or not Congress
could lay a tax on profits made in a.
year prior to that In which it 1egis-
lated. This view of the question, in
which congressional leaders concur.
renHers it impossible for war con-
tractors to escape payment Of taxes
on the profits made from payments to
them by the government In 1918. The
Bankers Information service brief
traces the early English sources of
the doctrine -of ,ex post facto leSisla-
ton. and shows that the clear intent
Of the constitution was to ;confine the
prohibition against this sort of pro-
cedure to criminal matters.