The Washington herald., 1922-01-12
RAYMOND {. HUNT
TOHEADANACOSTIA
BANKING PROPOSAL.
Institution, Capitalized
At $3.50, 900, to Operate
About March 1.
BUS INCOME LOWER
Interest Payment Subtracts
From Earnings; NARROW
Made Cashier.

The Merchants and Farmers Saw
ings Bank of Anacostia 10 to be the
name OF washington's newest fnan-
cAl@institution, now in process Of
equalization. according to Official
announcement made yesterday.
This bank, of which Raymond E.
HUNT, at present cashier Of the
will be located In Anacostia in the
vicinity OF Good Hope road and
Nichols avenue. for which site ne
gotiations have been completed. II
is said. 1t will be capitalized at
se5o.ooo. the stock selling at SIS a
share-s1o par and IS to surplus.
The institution will open for busi- |
ness probably about March 1.
Associated with Mr. Hunt In the |
proposition will be Joseph c. Mat
tingly. attorney-at-law, who Is vice
president of the Eastern Shore
Trust Company. of Cambridge, and
president of the Upper Marlboro
branch; Max Simon, merchant. OF
Anacostia; ]. Raymond Pyles. mer-
chant; Charles z. Gladman, realtor.
and Charles T. Clayton. attorney,
all of whom will no doubt be mem
bers of the directorate.
1t Is understood Mr.. Hunt sew
cred his connection with the Ana
costa Bank yesterday.
Rapid Transit Esrnings.
The Washington Rapid Transit
was operated at net corporate
income of ss2440 during the month
~ l..
statement of earnings reaching the
Public Utilities Commission yester-
day. This sum compares with
ss65,s6 for November's operations.
Despite the slight falling OF in
net corporate income. which was
caused by an interest payment of
s245.7o on the funded debt, OF par
ticular significance is the huge gain
IN passengers carried. During No
vember the company maintained a
service OF fourteen busses during
the entire month, with an addi-
tional bus put on during the last
fifteen days Total passengers car
ried were 162,646. In December If
teen busses were maintained dur
ing the entire month, carrying a
total Of 174.660 passengers. Live
miles covered aggregated 1894.
Total operating revenue for the
period amounted to s14,21s.02, with
operating expenses totaling s13,-
152.16- Discounts earned totsled
s26.so,< and other deductions from
grosEfncome amounted to s23-5s.
MarIew Made Cashier. /
W. w. NARROW, acting cashier of
the Second National Bank since that
office was vacated by Victor b. Dey-
ber. made president last year. was
installed as cashier of the institu-
tion at the regular meeting Of d.
rectors yesterday. NJ. D. Esch, dis
count teller, and ]. K Seyboth, pay
ing teller. were also promoted to
the position of assistant cashiers.
Samuel ]. Prescott, chairman of
the board. was reelected to this
POSITION for the ensuing year. Vic
tor B. -Deyber was again named
president. and Somerset II. Waters.
John c. Eckloff and Jacob Scharf
were named to serve as vice presi-
dents in the order named.
Other Elections.
At a recent meeting of the direc-
tors of the Washington Mechan MICS
Savings Bank. James A. Dorritee
was elected assistant cashier. Mr..
Dorritee was formed with the Dis
trict National Bank for eleven
years.
Stockholders of the Northeast
Savings Bank have elected the fol-
lowing new directors in addition to
re-electinE the entire old board:
James B. Flynn, Henry Z. GIotz-
bach. A. W. Sieverling and John II.
Thomas.
F. B. Williams, a retired officer
of the Navy Pay Corps and for a
number OF years a director of the
Institution has been elected secre-
tary of the Washington Mechanics
Savings Bank.
Departmental Bank,
J..B. Norman of the Farm Loan
Board: Frank Z. Frazier, Deputy
Commissioner of Internal Revenue,
and w. C. Black. chief clerlxNof the
Veterans Bureau, were elected to
the board. Other directors and offi-
GERS were reelected.
Mortss<e Cempsny Election.
The following directors of the
National Mortgage and Investment
Company have been elected for the
ensuing year: Frank J. Hughes.
Samuel A. Drury. II. Rozier Du-
lany. L. E. Breuninger. Harry A.
Kite. H. Prescott Galley, Thomas
Bones. L. Kemp Duval, Fred T. Du-
bois. w. d. West. Appleton T
Clark, jr.. C. Taylor Burke. James
A. Bailey. George E. Walker and
Clarence p Donohoe. !
Guaranty Savings Bank.
The Guaranty Savings Bank, with