The Washington herald., 1921-12-22
LLOYD Be HEAD
new CONNECTICUT
AVE.SAVINCS BANK
Institution Capitalized at
$500, 900 to Open First
OF Year.
OTHER LOCAL NOTES
Clearing House Admits Bank
TazAssociate Membership.
mt. Vernon Dividend.

aut. NefHOH DiNiueHu.
g
F9smer Congressman JamesqB
LLOYD will be president of the Com
nect6ut Avenue Savings Bank. now
being organized. which will be
opened for business soon after the
nfrstt of the year in location on
onnecticut avenue just north of l.
rect according to an announce
ent. made by the bank organizers
st hight
Temporary Offices OF the orgsni-
zatidp committee have been opened
in ahe new building at 11os Con-
nectfcut avenue. These quarters
willsbe occupied by the bank until
a permanent home is constructed.
A bite has been selected and ar
RANGED for at 1107 Connecticut ave-
nueswhere a modern banking house
willnbe erected. the construction
work to be carried out by the Allan
f. walker Investment Company.
Plans call for a very complete ana
rrell-eduipped bank. suitable in
Every way to meet the needs of that
important territory.
The authorized capital stock of
the bank will be 100000 fully paid.
Theastock is being sold at a figure
to provide a generous surplus. The
bank. which will be under United
States government supervision, will
do general banking business and
also will conduct a savings depart
ment. Safe deposit service will be
featured as well.
Mr.. Lyold was a member Of Con-
gress from Missouri for over TWEEN
ty years. Since his retirement from
public life five years ago he has
practfced law in this city. A COM
prehensive banking experience was
gained while cashier OF a Missouri
institution several years ago, to-
gether with prominent identiica-
tom with other banking interests,
spreading over a period Of years.
John Lewis Smith Is chairman OF
the organization committee. r.
stuart Poston is secretary. and
Chatham N. Towers, collector of
taxes of the District of Columbia, Is
tressurer.
A very strong directorate. com
posSf largely of men prominently
identified with this growing section,
is assured. according to officials.
Local Securities.
Washington Gas 7is per cent
notes further strengthened their
already strong position on the To-
vi exchange yesterday. s15,5O0 face
Nslue. selling at 1O4K and 104is.
the former price being paid for the
odd note of $500 denomination The
remaining sales were made in
$1,000 notes. s.'5s-
Ffrmness in the above issue
- ~ ~
tai Traction SIS which sold at 95K.
to Railway IS which were traded
in az IS and 65is and to Potomac
Electric general MORTGAGE ana re-
funding Is which sold at 104z.
Restricted trading in stocks
brought out a tendency to weaken.
Lanston Monotype, after opening
at 1915. declined by degrees to II u
in sales aggregating I15 shares.
Ten shares of Gas stock sold at so.
Call money was offered at per
cent. with 81 per cent bid.
Dividend Declared.
The board of directors of the
Washington Mechanics Savings
Bank have declared their regular
quarterly dividend of per cent to-
gether with an extra disbursement
kO1 1 per cent 10 slOCknOluerSr pay
ble January 1. 1922.
Chevy Chase Savings Contest.
The newly organized Chevy Chase
avings Bank is introducing a novel
ga in putting their Christmas
avings Club before the public.
which consists Of a contest open to
all pupils of the two Chevy Chase
schools One paper from each
school, containing the best five
reasons why one should become a
member of the Savings Club will
d4tsrmine the winners, the authors
TO be awarded IS in gold with the
honor of having their papers print
ed in the Chevy Chase News.
The contest closes Friday, Deem
Der 80.
Robertson withdraw..
HI w. Robertson. treasurer ana
member OF the board of directors Of
the Banking Trust and Mortgage
Company. has resigned both oficial
capacities.
A. i. n. Meeting.
The regular meeting of the Ad-
anced Glass. A. ]. r. will be held
pnixht as usual the approaching
holiday season in no way effecting
| the schedule of the senior class
Dickey will make the
principal address, lecturing on real
property.
Next Tuesdays meeting of the
Elementary class has been dispensed
with, an open meeting at the will
lard Hotel on the following night
taking its place
" Christmas BONUSES
Both the American Security and
Trust Company and the Washing