The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1922-02-18
D. c. BANK BODY
OFFERS SYMPATHY
TONAVY YARD men
Adopt Resolution to This
End at Special
Meeting.
OTHER LOCAL NOTES
Liberty Bank Stages Contest;
Mellon Extends Redemption
OF Victory Notes.

At a special meeting of the Dis
trict Of Columbia Bankers Associ-
alton. held in the auditorium of
the Cosmos Club last night, a reso-
luton was'offered. and adopted by
majority vote. extending sympathy
to the 1850 employees OF the local
naval gun factory rendered mac
tive by the recent limitation CT
arms conference. 1t was pointed
out that local merchants and 1busi-
ness men are losing at least $4,000
a day, that the factory is a valu-
able asset to the financial interests
Of the city and should be preserved
intact
Elliot Goodwin. resident vice
president of the Chamber of Com
merce of the United States, made
the principal address of the eve
ming. going into detail with regard
TO the wide scope OF work being
performed by that important or
ganiZation. Mr.. Goodwin advised
that plans for the definite con-
struction OF the new building were
being rapidly completed. Architect
Cass Gilbert, Of New York. has been
authorized to go ahead with these
plans. which will be submitted to
bidders within a short time. The
style Is almost identical with that
OF the Treasury annex in New York,
Mr.. Goodwin said.
Harry v. Haynes was appointed
chairman OF a special committee
to probe certain irregularities now
existing in the purchase of auto
mobiles In this city, and will short
ly confer with a similar commit
tee of the Washington Automotive
Trade Association.
Following the opening remarks
Of President Larner. Col. Robert
". Harper gave a clear and concise
analysis of Audit and the Audit
ing Department of a Modern Bank, !"
the address delivered by Francis
ing OF the District Bankers Asso.
citation.
Liberty Bank Contest.
Directors OF the Liberty National
Bank, in an endeavor to promul-
gate the spirit of thrift. together
with rendering invaluable support
to the institution they represent,
are promoting q contest for new
business, which gives promise OF
adding many thousands of dollars
10 the banks Corners.
Two teams have been formed,
Vice President William l. Robins
captaining the Robin Red Breasts
and Vice President Grant w. Tay-
Tor assuming the duties of leading
the salt Water Taylors." Capt
Robins forces have been recruited
from the following: E S. Brashears,
Thomas p. Brown. ]. T. Gull, IT.,
DR.. L. F. Davis, Paul E. johnson,
L. II. Mitchell. Dr. F. H. Morhart,
E. II. Neumeyer and H. L. Rust, jr
Capt. Taylor expects to emerge
victorious with the aid of the fol-
lowing: c. B. Asher. Charles A Ca
mailer, s. T. Cameron. NJ. o. Chance.
John B. Clark. Tracy L. Jeffords,
T. P. Littlepage. William H. Nc
Cray and I. z. Shoemaker.
The contest will close on July /,
at which time the losers will ten
der the winners a lavish dinner at
a local country club.
Georgetown Gas EarninEs-
The Georgetown Gas Light Com
pany was operated at a net cor
porate income of $5,2S5.41 during
the month of January, 1922. which
is considerably greater than earn
ings of S627.27 reported for the cor
responding period one year ago. or
the net income Of S3,201.29 reported
for December. 1921.
Operating revenues for the Pc
Rod amounted to S39,O45.30, with
expenses amounting to S29,619.45.
leaving a total net revenue of So
1855. Total deductions from this
amount aggregated sI,22LS3, to
which was added miscellaneous in
come to the amount of S392.5O. In
terest deductions aggregating s3,-
30S.11 were made from this amount.
Mellon Grants Extension.
Secretary of the Treasury Mellon
yesterday announced that the au-
Ihorization given to the Federal Re
serve banks to purchase Victory
notes direct from holders, at par
and accrued interest, up to an ag-
Eregate amount not exceeding
500. 100000 has been further ex-
tended from February 16 to March
Is, 1922. This authorization applies
to AZ per cent Victory notes. The
Treasury had already announced on
February .. 1922, a general offer
to redeem before June Is. 1922. at
the option of the holder, at par and
accrued interest to the date of op-
tional redemption, any of the 80
per cent Victory notes which have
been called for redemption on June
Is, 1929.
Local Securities.
Quiet trade was the rule of the
day on the Washington Stock Ex-
change yesterday. Prices continue
to display a fair degree of strength,
with quotations practically I'M
changed.
Mergenthaler Linotype Corpora
ton sold to the extent of 30 shares
at 143h. Capital Traction stock
held Arm at s5&, with Railway
common showing a slight recession
to 35k and $50.
Potomac Electric general mort
gage and refunding Is held nrm at
105%.
Personal
Mrs. n. D. Reed. of the CONNER
cial National Bank. will attend the
annual dinner of the New York
Chapter, American Institute of
Banking. tonight. the guest of the
women's committee Of that chapter.