Evening star., 1921-01-18

Hudl UlttllHS To-Day
Charles j. Bell. president, submitted
the thirty-first annual report of the
directors. covering the operations Of
the corporation for the calendar year
1920.
Net profits were s740,379O5, as COM
pared with s55G.0S0 in 1919, S45S.534
in 1918. s415.752 in 1917. and s422.-
$3.50 in 1916.
OF the deposits of the institution
80 504723 are to the credit of savings,
SSSS.650 trust deposits. s23269S time,
and s1l.775.611 are demand deposits.
Dividends during the year paid to
January 10 totaled S46o.02l.66. Dur
ing the year the company purchased
S4922.000 Treasury certificates. At
tention is called in the annual report
to the purchase of the property on
the north of the banking structure
at cost of s325.4o0 and of lot
to the west of the northeast branch
of the corporation at a cost of $780,
900.
Directors were reelected as follows:
Charles j. Bell, John B. Boyd, George
w. Brown, Albert Carry. William NJ.
Coates. William S. Corby, William c.
Eustis. William w. Everett, William ].
Flather. jr.: Daniel Fraser. Cary T.
Grayson. James NJ. Green, Gilbert Fl.
GroSvenor. r. Harrison Johnson, Joseph
Letter. G. Percy McGlue. Edward B.
Mclean, Howard Moran. Clarence +.
Norment, Newbold Noyes, Albert M.
Read. Howard S. Reeside. 3. F. Saul,
James F. Shea, Charles A. Spalding,
Corcoran Thorn. John +. Wilkins and
Clarence r. Wilson.
James c. Dulin jr, income tax ex-
pert of the company. was made an
assistant secretary. Otherwise the
complete official roster was re-elect-
ed. as follows:
Charles J. Bell. president; Corcoran
| Thorn. vice president: B. F. Saul, vice
| nrPSidfnf- Hn,xya ri g PaaSidn viro
president: Howard Moran, vice presi-
| dent: James F.. Hood. secretary;
| Charles +. Howe. treasurer: Alfred
| 3. Leet. trust officer; William L.
| Holden. auditor; Alfred C. Flather.
| manager new business department;
| David N. Houston, assistant trust Of
| ficer: T. Stanley Holland. assistant
trust officer; Kenneth F. Brooks, as
sistant trust officer: J. Eliot Moran.
| assistant trust officer; Martin r.
West. assistant secretary; William
w. Keck. assistant treasurer: John
L. Fugitt. assistant treasurer; Ed
| ward +. Swan. assistant treasurer:
Hans w. Ireland. assistant treasurer:
| Richard E. Harris, assistant treasur-
| er; Percy c. Brady, assistant treas
urer: Harry P. White, assistant treas
; urer: John E. Benton. assistant audi
i tor. and James c. Dulin, jr., assistant
| secretary.
security storage Annual.
/ The annual meeting of the Security
Storage Company was held today and
! the former officers and directors re-
elected without change.
| Net earnings for the calendar year
1920 were S,719. an increase of 20 per
cent over the net returns for the year
1919.
Washington Savings Bank.
| At the annual election of the Off
Gals of the Washington Savings Bank
| William NJ Phelan was reelected
president; j. d. Leonard, vice presi-
dent and treasurer; George B. Bryan,
is. J. Venable and James F. Brennan.
vice presidents; Robert Earnshaw and
| H. G. Reagan, assistant treasurers.
Directors were chosen as follows:
Joseph B. Jacobs Timothy Hanfon,
John M. Trant. Earle F. F. Marean,
James F. Brennan, John R Brown,
George B. Bryan. Nolen L. Chew. John
H. Gottlieb, Edward D. Walsh. John
ID. Leonard, Eliot v. Noyes William
NJ. Phelan. William E. Russell, E. H
Schirmer, Samuel J. Venable and J.
Redmond Walsh. The first four
named are additions to the board, the
other directors being reelected.
Bankers for Sales Law.
Discussion at the meeting Of the
District Bankers Association last
night indicated that the experience
of local bankers during the past year
in connection with loans made on COL
i lateral alleged to have been passed
over by dishonest runners to parties
having no claim thereto has created
a desire for legislation in thei matter
of security sales within the District.
The matter of a uniform system Of
accounting and Of forms was again
brought up and a committee named to
report on the feasibility Of having ac-
,<I, o$o
The matter of a dinner was dis
cussed, to be held some time in April,
in order that the members of the as
sociation may become acquainted with
the personnel of the new administra-
tion through the medium of a social
evening.
Local Securities.
There was a little better demand
for bonds on todays session Of the
local stock exchange. Potomac Elec-
trio general mortgages were moder-
ately active at 80; Capital Traction SIS
sold at s7A, and City and Suburban
SIS at 81.
Capital Traction shares frmer at
S5a Railway preferred brought
513s. Security Savings and Com
mercial Bank stock strong at 1873.
Real Encouragement.
w. 2. G. Harding, governor of the
Federal Reserve Board, and Charles
H. Sabin. president of the Guaranty
Trust Company of New York, both
went on record before New York
bankers last night as looking for
much better things during the cur
rent year.
Mr.. Sabin declared that there was
every assurance of "a return to nor
NAL business conditions. easier money
and larger business opportunities"
Gov. Harding predicted a new era
of conservative optimism"
J. Shelton Williams, controller of
the currency, adds word of encour-
agement to the assurance in this
statement:
Their present strong and we'll
fortified position (referring to ma
tional banks), and the fact that their
aggregate borrowings on rediscounts
and bills payable are only 10 per cent
of their total resources, is particu-
larly gratifying when we consider
that our people in the last three and
one half years have taken up, paid
for and pretty well digested about
$24 900, 100000 of government obliga-
Furthermore, between September s
and November Is, 1920, the loans and
discounts of the national banks de
creased s1O4243,000.