The Washington herald., 1921-12-30
J:W. CARR ADDED
10 DIRECTORATE
DF FEDERAL BANK
Board Also Votes $4,000
To Surplus, Making To
tai of $250,000.
OTHER LOCAL NOTES
International Exchange Bank
Admitted TO d. c. Bankers
Assn. at Executive Meeting.
OTHER LOCAL NOTES

ut a meeting Of the board of d.
rectors OF the Federal National
Esak held yesterday morning.
Jaxhua W. Carr was elected to I'LL
the vacancy caused by the resig-
nation of Z. C. Graham. who was
ADDED to the board of the Federal
Reserve Bank of Richmond several
months ago.
Mr.. Carr has been a resident Of
Washington since 1855. He served
two years in the Philippines dur
ing the period of the Spanish
American war, and after his return
to Washington associated himself
with the Perpetual Building As
ISOLATION of this city. of which in
staution he was elected secretary
in 1912. the position he still oc-
cupies. He Is a member of the
Spanish War Veterans and veter-
ans Of Foreign Wars. He is also
treasurer of the newly organized
Argyle Country Club. -
In addition to the above, the d.
re9orate instructed the transfer of
$4,000 to surplus, which brings
t.fs total to s25O000.
The Federal National Bank was
organized in January, 1918. and has
shown steady and gratifying
growth. The directors of the in
stitution. in addition to Mr.. Carr.
are as follows: Byron S. Adams,
Albert z. Berry. Thomas Bones.
Alexander Britton, Walter A.
Brown, John II. Clapp. Myer
Cohen. William Knowles Cooper,
John Dolph. William John Eynon,
WILTON F. Ham, H. r. Howen-
stein. Ralph Jenkins. Harry King.
Ralph W. Lee. Louis Mackall. Ar
thur D. Marks. John l. Newbold.
Frank B. Noyes. John Poole. E. d.
Rheem. James Brown Scott and
Leon Tobriner.
International Bank Admitted.
AT a meeting of the council OF
administration of the District OF
Columbia Bankers Association held
Wednesday afternoon. the Interna-
tipnal Exchange Bank. Fifth and Fl
streets northwest, was admitted 10
membership in the association.
This institution, of which j.
Sehisvone is president. was orga-
nfzed August-I. last. with deposits
OF s47.75s.65. Since that time the
bank has made a very commend
able showing. and on December
reported deposits of s141,51122.
Local Securities.
Business on the local stock ex-
change yesterday continued quiet
bat firm Capital Traction sold at
ests and the per cent bonds OF
the Company at IS to 95I. Cen
eraHSs Of the Potomac Electric
Company changed hands at ssh
and Railway As at IS.
Money on call was offered at
per cent with per cent bid.
Continental Trust Dividend.
At the regular meeting of the
board Of directors OF the Cont
mental Trust Company held Wed
nesday. the regular quarterly divi-
dend OF 1iH per cent was declared
payable December 81 to sharehold.
err. Of record December %.
Personal.
E. Francis Riggs, son of the late
+. Francis Riggs, who was at one
time a leading local financier. has
been added to the directorate OF
the National Metropolitan Bank.
Treasury Operations.
So far this month. including De-
cember -. the United States Treas.
ury shows a surplus of receipt,
over expenditures OF s233.759.s1s
while for the fiscal year to date
deficit Of s5s.5s2,000.
The Treasury has considerable
credits with the national banks, al
the proceeds of the last Treasury
certificates sold and some $4,000
600 from the November l sale.
The net balance December -
s1.1o1. s72. compares with 1884,
$4,000 a month ago and s576,Ss5,'
600 s7year ago.
England Banks Ratio.
A more substantial improvement
Is, shown this week by the Bank
of England's reserve ratio. Tn,
latest figure of 1876 per cent com
pares with 1916 last week and "a:
on December Z. when the strair
occastoned by the governments De.
cember 1 interest payments wal
most apparent A change, never.
theless. is apparent in the London
money market. where stringency az
result OF year-end demands Is
proving greater than had been an
ii 81, 4.