Evening star., 1921-11-10
Christmas FUND
TOTALS $l,lOsi0[D
Saved for Holiday Buying.
Will Help Business-local
Financial News.
BY L A. FLEMING.

10 have good Christmas season.
This was predicted weeks ago. on
he theory that the large number OF
outside people who will remain over
he holidays in this city plus the
home buying would make for one OF
he best seasons in the record OF our
merchants.
A number of banks in the city nave
Christmas savings clubs ripehihs
rery fast, coming to full maturity III
he early days of next month wheh
khe distribution will be made
y Predictions have been made that
his fund. practically all of which mas
been accumulated for the direct pur-
BOSE of Christmas shopping, will go
.ver the counters to local inerchan.s'
, would reach several hundred tnou.
,ands of dollars. but at the present
ime the bank officials guarding these
) s11escod' 1dhes. pia's '''
The Merchants Bank leads all others
With a deposit for the merry seasons
icnal Bank is good second with
G0O,000 The Potomac Savings Bank
sports $3.50 In the fund, the Park
;avings, $4,000; the Northeast Saw
ngs, $4,000, and the Northwest Saw
ngs. $4,000.
That there is not more Of this good
money waiting to do Its share to make
BUSINESS better is due mainly to the
ack of facilities for handling the
pusiness on the part of some OF the
.anks. More banks would have been
the accumulation work but for the
press of their regular banking busi-
4 less and some of the banks named
were compelled to close the lists early
3.ecause of press of work. -
When this S1.109.o00 has been ex-
yeuded, or as mur" Of 1t as Sts own""s
are to use for Christmas, the diri-
lend and interest paS...en.s W! S"e-.
rusineSs-so that all indications are
or a good old-fashioned sea son OF
,hristmas and holiday shopping and
business. Christmas funds have been
<vell employed all year. largely in lib
rites and Treasury certificates.
$1OO.OOO in Earned Surplus.
Directors of the Washington Loan
md Trust Company have decided to
place an additional 100000 to surplus
lceount.
With the addition the surplus of the
company is now S1,50O,0O0. every dol
ar of which has been earned in the
business. or a total surplus 100000
n excess of the capital Of the insti-
tuition.
Local Securities Active.
The demand for bonds and stocks
vas very good on the local stock ex-
:hange, and, while prices did not
move to higher levels, they were
cry firmly maintained.
In all, $4,000 of the Potomac re-
'unding Is sold. all at 1o3. The gen
"raf IS of the same company We're
wanted and sold at e7%, this figure
representing good advance.
q lie o
;as 5s are pegged at 81.
Capital Traction was firm. Railway
referred moved up to 81.
Mergenthaler continued to advance,
he high this morning being 127hs
out on sales of only share or two.
Evidently a good showing Is ex-
'fccted from the annual neetiss to be
aeld next week.
Appreciated Effort.
Having completed the extensive
editions and improvements to it's
banking house begun April 1. Mr..
larence F. Norment. president of the
National Bank of Washington. leaves
today for Atlantic City to enjoy a
ong-delayed vacation.
By his constant supervision and due
% his perience in building and
aste in architecture. the bank is now
'.duipped throughout with every mod
'rn convenience and accessory, and
'anks with the handsomest of the
Gany splendid banking houses of this
city.
The board Of directors at its last
meeting placed upon the permanent
appreciation of the excellent work
lone by President Normeht, and the
personal interest shown by Harry
Wardman. one of its directors, in
making these improvement a COM
.,iete success.
Elect Officers.
A large number Of public-spirited
he need. have organized the Chevy
';hase Savings Bank. which will open
Is doors for business ON December
: at its new banking house, Connec-
icut avenue and Mckinley street.
The capital stock of $50, 900, with a.
:tubscribed and arrangements are be-
ng made to have it fully paid in
',efore business is commenced.
At recent melting the following
pf1cers and directors were elected
edward H. Jones. president; Clar-
tE,nce H. Waters. first vice president; ;
fred w. Mackenzie. second vice pres
?dent; DR.. Truman Ahbe, secretary;
-'aul Sleman, counsel.
Directors-Dr. Truman Able. Joseph
on, Philip F. Gormley. R. Frederick
Hatcher. Bynum E. Hinton, Edward
4. Jones, Alfred b. Leet, Fred w.
-IacKenzie, G. F. Mikkelson, William
\. Mills, Stanton c. Pellee, Thomas
v. Perry, Frank Simpson, Paul Sle-
nan, Edward L. Stock, Horace E.
roth. jr.; Clarence F. Waters and
.rohn NJ. Williams. "
The directors have under cons'dera-
ZION the names of several applicants
.-or the position Of cashier, and it is
expected selection will be made in
a. few DAYS