The Washington herald., 1921-09-18
PFAU ELECTED TO
PRESIDENCY OF
WOODBRIDGE BANK
Citizens of Community
Vote Him Head of
New Institution.
ANOTHER PLANNED
Banking Trust and Mortgage
May Organize Branch in
Same District.

IharieS 4. Pau. vice president of
the Terminal Commercial and Saw
InSs Bank. was named president of
the newly organized Woodbridge
l.anSdon Commercial and Savings
sank at a meeting of citizens of
lhat community on Friday night
last. DR.. Charles w. Cuthbertson
was named vice president, Frank NJ.
hatIey, secretary, and Chester r.
smith was installed as treasurer.
At the same time the names Of
twenty-five of the representative
business men. of that section were
submitted to be elected to the direc-
torate.
Every modern banking conven-
fence will be installed in the new
institution which is now being
erected at Twentieth street and
Rhode Island avenue. according to
the newly named officials. who add
the bank will be ready to function
on or about November /. The COM
Snunity system and spirit will be
Incorporated to the fullest extent
and will constitute the feature
policy of the institution. The bank
Is capitalized at $4,000 with a sur
plus of $4,000.
Mr.. Pau. the president. is widely
known here as a bank organizer.
having successfully launched fifteen
in addition to three building asso-
Citations. In addition he is a leading
realtor Of Woodbridge having built
approximately nifty homes in that
district The remainder of the Of
fcial roster also are leading citi-
zens of the community. Mr.. Hatley
is member of the executive COM
mittee of the Citizens Association
of that vicinity. while Mr.. Smith is
treasurer of the same organization.
And still Another.
With a view of erecting a Masonic
temple, the first floor to be ftted as
a bank. a conference was held re-
Gently between citizens of Wood
ridge and officials OF the newly or
ganized Banking Trust and Mort
gage Company of this city. The
meeting was called for the purpose
Of feeling out" the project. the
consensus of opinion Of those pres
"nt Indicating a belief that the COM
bination temple and bank will re-
suit in much good to the community.
\ further conference will be held
next week when IL may be decided
10 organize a branch of the Banking
Trust and Mortgage Company at
that place.
Those who represented the Bank
ing Trust and Mortgage Company
werc Col. NJ. A. Winter. chairman of
Che board: Percy S. Foster. presi-
dent: II. W. Robertson. vice presi-
dent and treasurer. and A. II. FowIe.
rorEanizer Of the new banking cor
poration and president OF the Pre-
rnier Finance Company
Personal.
Achille r. BurkIin. a director of
the Terminal Commercial and Saw
ings Bank. who has been vacation
ing in the Adirondacks for the past
month, has returned to Washing
ton.
BETTER Times Locally.
Better times are prevailing in
Washington il we can believe our
authoritative bankers and business
men. Bank deposits as shown in
the recent call of Comptroller Girls
singer are showing a steady in
crease while sales Of many of the
large department. stores for the
month denote a nuEe gam over the
previous month. For the seven
month period of the present year
total sales are in most cases in ex-
cess of the corresponding period Of
last year
Local banks also call attention to
the perceptible gain in the number
Of depositors- Savings accounts are
expected TO show a slight falling of
due in part to the hrmer status Of
the government clerk whose posi-
lions in the last several months
have been more or less insecure. and
many Of whom are just beginning
Eo Feel assured Of employment.
However. this will he made up in
ire Increased commercial deposits.
the result of more money being
pIaced in circulation.