Evening star., 1922-01-13
HAMILTON BANKS. .
OFFICERS ELECTED
NJ. E. Allies Chosen President.
Plans for New
Branch.

At Il meeting of the new directorate
of the Hamilton Savings Banks. lately
acquired by the Riggs National Bank,
Milton T.. Allies, president of the last
named institution, was elected presi-
dent today.
Other officers chosen to serve during
the ensuing year were Charles Carroll
Glover. jr.. and Joshua Evans, jr.. vice
presidents. and Hilleary GAHoskinson.
cashier. These officials are also MEM
tbers of the Riggs company. Bernard
l. Boudren and Carl H. Donch. identi-
fled with the Hamilton banks In the
past, were elected assistant cashiers.
Two committees were appointed by
the new executive officer and are as
follows: Executive committee Joshua
Pere A. Wilmer, Charles T. Clagett
and Hilleary G. Hoskinson. who will
act as secretary, and building COM
mittee, Joshua Evans. jr.: William j..
Flather, James Marion Johnston. or.
Randall H. Hagner. Dwight clark.
Arthur Carr and Hilleary q. Hoskin-
SON.
Arrangements for the opening of
the new branch Hamilton institution
on a part of the old Stewart castle
property at Dupont circle ana Massa-
chusetts avenue, will be handled by
the building committee. The Hamil-
ton has two branches at present. one
at 18th street and Park road and the
other at 7th and l streets.
Better Business Predicted.
THE banking situation at the close
of 1921" the Federal Reserve Bulletin
for January says. represents pracu-
cally the reverse of the situation which
prevailed twelve months ago. At the
beginning of the year note issues. de-
posits and other elements in the port
joloiS of federal reserve banks, were
not far below the peak of expansion"
Policies to be pursued during 1929.
the board asserted, should, therefore.
be constructive rather than merely con-
ssrvative. land will probably show the
results of this constructive quality in
rhe form of proper enlargement OF
banking accommodations. greater ease
and liberality in the money market and
better prospects of business and
economic developments.
The progress of business recovery
during the past year was declared to
have been exceptionally uneven" but
"in those lines of industry which sup
ply the immediate needs of the general
public very satisfactory demand has
been experienced.
"Tt continued to be true. however"
the board continued, that no CONF
plete or general recovery of domestic
business will be possible save through
The economic outlook in the leading
European countries at the opening
of 1922. however. is evidently better,
except in one principal element, than
IT was six months ago"
This element, the board explained,
was the failure of Germany to fulfill
the reparationS agreement.
Aside from the menacing develop
1nents in Germany" the board con-
tended, and the maladjustment in
prices and exchange. which is gener-
ally conceded to be closely related
TO the terms of the reparations agree
1nent, economic conditions show i'm
provement over the state of things
six months ago. The improvement
IS due to an actual revival in the
demand for goods, and has occurred
in the face of very serious credit and
currency conditions.
Counsel for "Merchnnts..
Wade n. Ellis, senior member of
the firm of Ellis, Ferguson & CoIquitt,
has been retained as general counsel
Tor the Merchants Bank and Trust
company according 10 Peter A. Drury
IN an announcement today.
Mr.. Ellis has a reputation as an in
iernatlonal lawyer, and has served
both his state and nation. From 1904
10 19OS he was attorney general of
Ohio, and from 1908 to 1910 he was
assistant to the United States Attor.
ney General here.
Mr.. Ellis entered private practice In
Washington at the close of President
Tafts administration. and during that
time he was retained by the United
States Senate committee on foreign
relations as that body's counsel in the
noted Martens deportation case.
Addison Lectures.
Francis G. Addison, jr. vice presi-
dent of the Security savings and Conn
mercial Bank, spoke this afternoon
before the class of the Supply Corps
of the Navy. Mr.. Addison took as his
theme, 'Acceptances."
President Ham Away.
W. f. Ham, president of the Wash
inSton Railway ahd Electric Com
pany, is at Pinehurst, n. c., for a brief
vacation. He will return to the city
Monday.
Departmental Bank Admitted.
At a meeting of the Washington
Clearing House Association the Depart
mental Bank was admitted to associate
American National Bank.
At the same time it was voted to
amend the article of the association by
which the members of clearing house
committee composed of four members.
two elected each Year, may have two
terms of two years each, successfully,
if so elected. instead of for one term Of
two years as the ruling previously read
Bank Animals Held.
I \ number of banks held directors
meetings yesterday and elected Off
GERS to serve during the ensuing year.
At the Lincoln National the following
were added to the banks official fam
lily: IL. T. Offterdinger, secretary to
the board: J. Frank Rice, manager of
the savings department; William H.
Harris, auditor; George Francis Will
liams, counsel, and w. w. MILAN, as
Sociate counsel.
Old officers e-elected were: Floyd
Il. Davis, president; S. Dana Lincoln,
vice president: Patrick 7. Moran, sec
Ond vice president; Albert s, Galley,
cashier, and w. NICK. Stowell, j. Ever
cashiers.
Farmers and Mechanics.
All old officers of the Farmers and
town were reelected. They are Harry
v. Haynes, president; Robert d.
Weaver. vice president; George l..
Nicholson, vice president: H. L. Selby,
cashier: c. T. Cropley, assistant CASH
Ter. and Ira w. Hopkins, auditor.
Federal National
At the Federal National all Of the
old officers were reelected, and are:
John Poole, president; William John
Eynon, vice president; Charles b. Lyd-
dane. cashier; Frank ]. Stryker and
Charles d. Boyer, assistant cashiers
William c. Johnson, assistant to the
president, and Leon Tobriner, general
counsel.
American National
At the American National Bank di-
rectors met yesterday and reelected
The following: w. T. Galliher, president:
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