The Washington herald., 1922-09-30
TWO DC BANKS
SOON TO MERGE
THEIR HOLDINGS
Federal National and the
American National
To Consolidate.

The largest financial transaction
in District annals was cOnsufnmated
late yesterday afternoon when di-
rectors of the Federal National
Bank. meeting separately but stimuli
taneously with directors of the
American National Bank, sunani-
mously voted to consolidate the two
Institutions. Total resources of ap-
proximateIy s14.OOO.0OO are involved.
The amalgamated institutions will
be known as the Federal American
National Bank, and will begin func-
tioning as such on November /.
1922. John Poole president of the
Federal. will head the institution.
while w. T. Galliher. president of
the American. will be chairman of
the directorate. William John Ey-
non. vice president of the Federal,
will retain his position. and Cashier
Charls r. Lyddane. of he Federal,
and Cashier w. J. Waller. of the
American. will be promoted to vice
presidents. while Assistant Cashier
Frank J. Stryker, of the Federal,
will be named cashier. Assistant
Cashier Charles ID. Boyer, Of the
Federal. and Assistant Cashier S. l..
Mitchell. of the American, will re-
tain like capacities with the new
institution. The business of the
merged institutions will be conduct
ed on the site of the American Ma
tional. at 1916 F street northwest.
S1.2OO,OOO Capital.
The Federal National
Bank will be capitalized at S1.2Oe.-
600. the largest capital of any bank
in the city This capital will be di-
vided into 1900 shares of equla val
ue, stockholders of the Federal re
ceiving one and One-fifth shares for
every share now held. while stock
holders of the American will receive
share for share.
The directorate will be reduced to
forty-eight members. They include:
Byron 5 Adams, Albert e. Berry,
Thomas Bones. Alexander Britton.
Walter A. Brown. John II. Clapp
Joshua w Carr, Myer Cohen. William
Knowles Cooper, John Dolph. William
John Eynon. William F. Ham, II. r.
Howenstein, Ralph jenkins. Harry
King, Ralph W. Lee, Louis Mackall,
Arthus d. Marks. John L. Newbold.
Frank b. Noyes, John Poole, Z. ID.
Rheem, James Brown Scott. Leon
Tobriner, Lester A. Barr. w. F. Bre-
niZer. A. l.. Clarke. John T. Crowley,
T. c. Dulin. W. 7. Galliher. w. c.. Gal
liner. Isaac Cans. Fred 5. Gichner. L.
W. GrOomeS, George w. Harris. James
B. Henderson, c. NJ Hendley, B.
Leonard. I. B. Linton, J. A. Maedel
William Selby. James +. Shea, War
ner Stutler, Thomas SomervilIe, ]. c.
Weldon. George E. Walker, l.. Perry
West. Louis c. Wilson. Directors
holdings are minimiZed at twenty-five
shares.
Deposits of the merging banks now
approximate $1,000 900. with the sur
plus item amounting to 100000. I'm
divided profits total S25O.O0O. Each
institution has shown consistent abil-
ity in Strengthening their already
strong standing during the past few
years. the Federal now showing
gain in deposits of more than S2,OOO-
600 for the present year.
PoOle's Fine Record,
The new president. Mr.. Poole. or
sanlZed the Federal National sew
eral years ago. He served for two
years as president of the American
institute of Banking. as president
of the District Bankers Association
and as vice president of the Ameri-
can Bankers Association. He also
has extensive holdings in various
corporations, including seat on
the board of directors Of the Chera-
peake and Potomac Telephone Com
pany. and is also a prominent CLUB
man and member of many fraternaI
bodies.
w. T Galliher. the new chairman
OF the board, is president of the w.
T. Galliher and Bros, Inc, Lumber
Company and is also president of the
Home i'u:lGing Association and Of
the Washington LumIsr Exchange.
He Is n past president of the District
Bankers Association and an ex-vice
president of the American Bankers
Association. He. too. has large
holdings in local corporations, pria-
cipally in the Washington and Dis
trict Title Company; is a director
and member of the executive COM
mittee of the Washington Railway
and Electric Company and the Po-
tomac Electric Power Company and
a director of the Rosslyn Steel and
Cement Company. He is also prom
inent in local fraternal organize.
tions and civic bodies.
Permission for the consolidation
was granted by the Comptroller Of
the Currency several days ago.