The Washington herald., 1921-04-28
COOPER ELECTED TO.
HEAD CONTINENTAL.
TRUST COMPANY.
Effect of Merger Places
Resources at Approx
semately Ten Millions.
BANKERS PLEASED
Pres. Harding's Direct Speech
Cheers ID. c. Financiers
Nightly.

tions on the part of the Continental
Trust Company to consolidate the
United States Savings Bank, To-
Gated at Fourteenth and U streets
northwest, and the Union Savings
Bank, located at 10 Fourteenth
street northwest. was taken yester-
day by the election of Col. Wade H.
Cooper. who is now president of the
two banks last named, as president
Of the Continental Trust Company.
The effect of this merger means
the consolidation of the business or
the United States Savings Bank and
the Union Savings Bank with the
Continental Trust Company. This
will bring the resources of the Con-
tinental Trust Company up to ap-
proximately 100000 No increase
OF the capital stock of the Con-
tiRental Trust Company will be
made.
Senator Nathan B. Scott was
elected chairman of the board of
directors of the Continental Trust
Con pany. No other changes In the
peruonnel Of the official staff of the
Continental Trust Company was
made.
Harding PleaseS Bankers.
washington's banking fraternity
yesterday expressed itself regarding
President HardinE's brief address
before the District OF Columbia
Bankers Association on Tuesday
night as being very appropriate
and very timely. outlining as it did
a policy which we heartily approve"
Whatever doub- Washington finan-
Giers might have felt, prior to the
banquet. concerning the policies to
.1e carried out by the new adminis-
ration, appears to have been dis
PEELED by the direct messages con-
veyed to them by those who can
best supply aid.
District bankers are already
forecasting that IN the new era just
begun. the selfish enterprises will
soon be eliminated. leaving the field
wide open for me constructive and
cooperative forces.
A. 1. u. Meetings.
The Washington Chapter. American n
Institute Of Banking, will hold an
election tonight Tor the purpose Of
selecting delegates to represent that
body at the annual convention of
the institute to be held at Minneap-
oils. July 19 to %. Following this
election. the advanced class will de-
vote itself to social hour. or open
meeting. no studies having been
scheduled for the evening.
Somina tions oi officers for the
ensuing year viii be held on the
evening Of May IL. On May elc-
mentary class examinations will he
held. while the advanced class will
hold theirs on May 26.
The local chapter expects to grad
uate about forty members of the ad-
vanccd class. while forty-five mem
bers of the junior grade will take
the examinations.
Harper to Atlantic City.
Col. Robert y. Harper. president
of the District National Bank and OF
the local bankers association. left
yesterday afternoon for a few days
vacation at Atlantic City. This va
cation was practically forced IN the
colonel, due to the rather strenuous
work of the previous few months ir
arranging for the recent dinner--the
colonelS greatest coup. incidental
ly. he announced yesterday, that
with the close IF the annual assO-
citation convention at White Sulphur
Springs in June he will denote him.
self to the rank and file" having
occupied a leaders role for many
years.
Call for Funds.
Secretary of the Treasury Mellon
yesterday called or national banks
to deposit with their regional oanks
by this evening. Is per cent Of the
funds arising from the March Is sale
Of Treasury certificates. This call
will leave still a comparatively
small amount of funds from this is
sue with the national banks to the
credit of the Treasury.
Local Securities.
Trading on the Washington Stock
Exchange yesterday was extremely
light, three issues with a single sale
each representing the total transac-
tions.
A $1,000 Capital Traction 5s
opened trading. hsing disposed OF at
sSA. Washington Gas IA notes
sold in a like quantity at 1O1. while
q single share of Washington Rail-
way and Electric preferred stock
was purchased at So.