Evening star., 1922-03-08
DUPONT NATIONAL
TAKEN BY NJ. B. & I.

The mach-rumored taking over of
interests of the Dupont National Bank
by the Merchants Bank and Trust
Company was consummated yesterday
afternoon.
Connecticut avenue bank becomes
part of the new trust company. which
is to be located in the Southern build
ing about April 1. were completed at
meeting of representatives of both
institutions held at the Merchants
Bank. and after the transfer had been
completed Peter A. Drury, president
of the Merchants Bank, announced
that Ezra Gould. now president of the
would be the new president of the
Dupont, to succeed w. w. Spafd, who
will resign.
1t is certain now that the control
ling interests of the Washington Me-
chanics' Bank will be secured by the
Merchants Bank and Trust Company.
details of which will be completed
within a few days.
H. H. Flather. recently elected man
aging vice president of the Dupont
the future will be identified with w.
b. Hibbs & Co.. with which Mr.. Spaid
is connected. Negotiations for the pur-
chase were carried out for Mr.. Drury
by w. Gordon Crawford
The Dupont Bank has deposits in ex-
cess Of $2,300,000, with a capital OF
100000. There were 1000 shares of the
bank outstanding. The price paid for
the stock was not indicated by Mr..
Drury.
bank was not discussed at yesterdays 8
meeting, it is understood that the Mer-
chants will convert the Dupont Bank
into a state bank and operate 1t as
branch of the Merchants Bank and
Trust Company. The purchasers will
ditions of sale, it was said. was that
all employees of the uptown bank be re-
tanned.
The deposits of the Washington Me-
$1,10O,000.
Evans Addresses Credit Men.
Joshua Evans. Jr., vice president of
the Riggs National Bank, gave an in
teresting talk on Credit Extension
by Banks and the Relation of Mer-
camille and Banking Credit" before
members of the class OF credits of
the Georgetown University School OF
Foreign Service last night. Follow
ing the talk, in which the banker
brought out many instructive points.
the students voted him a rising vote
of thanks.
Blanks for the first call Of the con-
lTOlleT OIL the currency lOF 1SSS " 0l Q
received by all local banks today. 1t
is expected the date of the call to
show condition OF business will be
announced either tomorrow or Friday.
Personal.
Charles j. Bell, president of the
American Security and Trust Com
pany has returned to the city after
a sojourn in Florida.
New Columbia Graphophone Head.
H. L. Wilson. formerly vice presi-
dent of the Columbia Graphophone
Manufacturing Company, has been
elected president of the company to
succeed Van Horn Ely. At the an
nual meeting of the stockholders
March 81. it is expected that there
will be changes in the board and that
announcement will be made In con-
ganization.
b. & O.. Directors.
Frederick H Rawson and Joseph
E. Widener have been elected di-
rectors of the Baltimore and Ohio
railroad in place of John G. Shedd
and w. Averill Hartman, who re-
signed from that board under a
Commission, in order to retain their
directorships in other companies.
MIR. Rawson is president of the
Union Trust Company of Chicago.
Mr. " iueHer IS the wen KNOWN Full-
adelphia capitalist. a director of the
Philadelphia and Reading railway
and many other financial and COM
mercial concerns in Philadelphia !
The $11,000.000 Canadian National
railways three-year per cent gold
loan, the direct obligations of the
Canadian Northern Railway Com
pany, which was offered to the pub
lie yesterday, was disposed of in
short order. These notes, which are
due March I, 1925, were offered at
99h, to yield about SIS per cent
Crane Paris & Co., local brokers'