The Washington herald., 1921-05-14
MT. VERNON BANK
TO CELEBRATE ITS
lST ANNIVERSARY
Institution Shows Huge
Gain in Deposits,
First Year.
OTHER LOCAL NOTES
Frank p. Harmon, Sr, in West
Virginia Coal Fields; Lo-
cal Issues Dull.
OTHER LOCAL NOTES

The Mount Vernon Savings Bank
win today celebrate its first ami
versary. having begun operations
May Is Of last year. Tho total de-
posits on opening day approximated
s3so.eoo. while the deposits as of
the close of business on April 2s.
this year, were slightly more than
s1,s1o.0oo- Oficials of the institu-
ton, with the exception of Vice
President William H. Johnston. who
is--in Europe for a few months
studying conditions there. will be
on hand to welcome depositors on
the closing day OF the first success
full year.
r. Golden Donaldson Is chairman
OF the board of directors of the
Mount Vernon Bank. william H.
Muehelisen is president; William
H. Johnston and E. C. Dawson.
vice presidents: William R Baum
cashier; Robert T. Highheld is as
sistant cashier. while r @. Donald
son and C. c. Tucker comprise the
counsel.
The bank will observe its regular
hours today, opening at $50 and
closing at 12, reopening at 5 and
remaining open until $40 p. m.
Local Man in Coal Operations
A dispatch from Williamson. W.
Va. reads as follows: Frank P.
Harmon. ST., president of the Com
mercial National Bank of Washing
ton, for a number of years, and also
chairman of the board of directors
of that institution, one of the buoy
ant coal operators of the Norfolk
and Western coal fields. is in this
city on business in connection with
the proposed new operations OF the
Puritan Coal Corporation at Burch,
on the new Pigeon Creek extension
of the Norfolk and Western Rail-
road
The Puritan Corporation, which
was recently organized. has a capital
stock OF s50O.000. and the erection
modern in every detail is contem-
plated"
Frank p. Harmon. jr.. is cashier
Of the Merchants Bank. this city.
-. Personals.
o. l. varela, assistant ladies' tel
Ter of the National Savings and
Trust Company. has just returned
to the bank after an extensive
honeymoon trip.
Col. Wade H. Cooper. president
OF the Continental Trust Company.
is in New York City until Monday
on business pertaining to his in
stltution.
Local Securities.
Trading was again extremely
quiet on the Washington Stock Ex-
change yesterday with but five sales
being made. Washington Gas stock
opened the activity with an odd lot
of two shares changing hands at
41i4. Continental Trust steck fol-
lowed with ten shares at 1914, a
slight decline.
Washington Railway & Electric 4
per cent bonds sold to the extent of
$4,000 in three equal sales. all being
made at 81.
A breach in opinion still remains
in the brokers' call money market,
61z per cent being bid for funds
while lending banks held out for 4.
Cotton Loan.
The War Finance Corporation an
nounced last night that of the au-
thorized advance of $4,000. 900 to
assist in the expectation of cotton.
IL has already advanced s1.600. 900
against cotton actually exported.
This financing of cotton" says
the statement. will assist in main
tanning adequate stocks near the
points of consumption, and thereby
facilitate business. The distrib-
uting points to which the cotton
has been consigned are Liverpool.
Havre, Trieste. Genoa, Venice and
Bremen"