Evening star., 1920-03-30
MI. VERNON BANK
WILL OPEN MAY |
Capital of S1O0, 900 Is Sub.
scribed-locaI Securities
| Were Active.
BY i. A. FLEMING.

stock of the Mount Vernon Savings
Bank has been fully subscribed, and
that IL will open for business May /.
No indication as to the personnel of
the official staff has been given as
yet. but II is generally understood
that interests identified with the Com
mercial Bank will practically be in
control.
The offices of the Mount Vernon Saw
ings Bank are practically ready for
occupancy in the international Ma
chinists' building, on the northeast
corner of Massachusetts avenue and
9th streets northwest. IT is under
stood that labor interests are largely
interested in the new institution.
Back in 1917 there were nineteen
savings banks. and bankers especially
considered the field well filed. but
today there are twenty-three. ana but
for recent changes the number Wouid
have been twenty-SiX. with some
branches The absorption of the Home
Savings Bank and branches took over
lo.o0O. 900 from the total deposits OF
savings banks. but latest hgures
showed s22 5000 of savings deposits
Light sales OF "a Per Cents.
Attention is called to the fact that
!. hut 5000. .0OO. 900 tax certificates dated
est. were sold. The condition OF the
money market all over the country
is such that bankers hesitated to
place their funds in certificates, con-
tending that the government shouid
at least have made the rate on the
certificates equal 10 the discount rate
of the fedora! reserve banks per
cent. -
call money closed yesterday at II
Der cent in New York, opened at
per cent today. the wlthdrawai OF
millions by the government from the
hanks tending to increase the strength
of rates.
Much interest is expressed in the
measure of success that VIII attend
the Treasury Offering of certlhcates
April ] bearing 4A per cent interest
maturing July /.
Chicago and western bankers have
been drawing funds from the call
market for several days and an estl-
mate of S150.000.000 has been taken
out by western bankers on and since
last Thursday. being needed Tor new
time loans, there and to bring up bank
reserves.
w. b. q A. Meeting.
Officers and directors of the Washing
ton. Baltimore and Annapolis Railway
Company were elected at the annual
meeting held yesterday.
The annual report gives a comparative
summary of the operations from 1913 to
1919. inclusive. from which comparisons
for last year and for 1918 are as follows:
1919. 1915.
revenues -. s., 1ss. .IlsI5 $500 Ola. ss
expenses -. 1.513. .o7s09 174o.esI.7 73
Net revenue rail-
way operations. 1855 Go s1.1sl. 7as &C
Net revenue AUX
Hilary operations. 69309.S4 12t.1SS.o4
Net operating rev.
Taxes assignable to-
railway operations 12S. S.244.SO 523, ,426.16
Operating income. s5se.oos s7e5, 4s5. .os
Incorporating In
come .... 1s.5s5.S2 1883 20
Gross income....- ssl4 sol .93 s7s3. 3.44s. 81
Deductions from
gross income. 295.202.4 .43 2SS.9l2 80
Net income -. s319.399.50 94.535 81
The directors are: George T. Bishop.
Baltimore; j. j. Doyle, Baltimore: C.
S. Eaton. Cleveland: F. H. CHM. Cleve-
land: James .4<-Hemenway. Bonneville,
Ind: Thomas Mason. Baltimore, and
George Weems Williams. Baltimore.
Railway Common Active.
On today's session of the local stock
exchange three lots of 100 shares each
of Railway and Electric common stock
sold at II a share, also a number of
small lots at the same price. Two odd
lots of the preferred stock brought
5OL.
Washington Gas was fairly active at
45l2. slightly below the last previous
transaction.
Other stocks were practically NOM
inaL with no important changes in the
bic or asked prices.
An odd lot of District National Bank
stock brought lis. In the bond lis:
there were a few sales of Potomac
Electric Consolidated 5s at S7k to 81
Foreign Exchange.
Pounds sterling, francs and lire were
all easier today. but marks were un-
changed at .914 cents. Pounds were
quoted at s3.SS. francs at .06S1 and lire
at .0493.