The Washington times., 1920-01-12
LOCAL FINANCIAL
and BUSINESS
GOSSIP

Annual elections OF the directors OF
the national banks, three, OF the
trust companies and many OF the
savings banks. OF Washington will
be held tomorrow between noon and
1 o'clock. lphe election OF officers by
the directors OF these banks will be
held Thursday OF this week.
Few important changes will occur
In the directorates OF local banks
Some or the Institutions are plan
ming the placing OF additional d.
rectors for the ensuing year, while
the majority report q possible re-
election OF the present board.
ssa~ Ts &c Over.
In addition to the national banks,
the trust companies that will hoid
annual elections tomorrow are Union
Trust Company. Continental Trust
Company. and the Washington Loan
and Trust Company. A few of the
savings Banks. doing a commercial
business. and which hold State char
ters, will not hold their elections at
this time.
The American Security and Trust
Company. the Munsey Trust Com
pany. and the National Savings and
Trust Company will have their an
nusi meeting the third Tuesday of
this month. January 20. The Liberty
Savings Bank, which holds its annual
election In May. and which becomes q
national bank February !, 1920. will
probably retain Its present officers
and directors until May. 1921.
The clearing house receipts for
Washington banks for the week
ended January 10 amounted to $1S,-
SSs,5S9.65, which was In excess OF the
average weekly receipts for 1919.
Arrangements are being made by
the Washington chapter OF the Ameri-
can Institute of Banking for its an
nual banquet. which will be held At
the willard Hotel February 81. 1t Ia
the intention Of Victor B. Deyber,
president OF the chapter, to make this
banquet the largest ever held by the
chapter. Edward J. McQuade has
been appointed chairman of the COM
mittee on arrangements for the ban
quet.
The mson To Lecture.
Elliott II. Thomson, of the WASH
ington1oan and Trust Company. will
lecture tomorrow night before the
local chapter on bills Of Lading."
Mr.. Thomson, before his association
with the local banking institution.
was cashier Of the freight department
OF the Pennsylvania railroad. and IL
particularly equipped to handle his
subject. He made q favorable i'm
preston on the chatter by talk he
delivered few weeks ago.
The second of the series Of lee
lures on Income Tax" will be given
Wednesda night In the chapter
rooms by c. B., Hurrey. deputy COM
missioner OF the bureau OF internal
revenue and r. s. Talbert, chair.
man OF the committee on reviews
and appeals Of the bureau OF inter
nal revenue.
The silver imports OF the United
states for 1919 amounted to $685.
5SS. as against S2ss.oo1.o51 In ex.
ports. Cold imports for the same
period alSvunted to $76,534.046, while
the exports reached S36s,144,54b.
Trading in washington Gas fea-
tured the transactions on the Wash
ington stock Exchange today, total
Of eighty shares selling at 40 to 80
Mergenthaler was strong. twenty
five shares changing hands at 13sh
to I3S% Lanston sold at fraction
below the last sale recorded last
week. Graphophone common was
steady at so.
A small lot Of Washington Railway
and Electric preferred stock sold Al
b5H. There was no trading In bonds
today. Capital Traction stock was
slightly higher.