Evening star., 1922-05-01
HAMILTON BANK
!. AT DUPONT CIRCLE
Successful Opening Today.
Traction Active-Business
). in Fifth District-CoaI.
BY 1. A. FLEMING.

The Hamilton Savings Bank opened
its Dupont Circle bank this morning
in new banking rooms on the north
west corner Goth and P streets north
west
G. Francis Rainey. formerly ladies'
teller. at the Riggs National Bank
was in charge. assisted by II. IT, HOS
kinson, cashier of the Hamilton Bank
and assistant cashier of the Riggs
National.
1t is likely that Mr. Rainey will be
made assistant cashier Of the Hamil-
ton Bank at a meeting OF the direc-
tors to be held tomorrow.
Quite a number of bank officials
called during the morning, some of
them opening accounts to give the in
stitution a real start, while several
new accounts of goodly size were
opened and some regular Riggs Gus.
toners opened accounts for the sake
of convenience. 1t is expected that
the parking difficulties around tho
Riggs National Bank, especially un-
der the new regulations, will make
the Hamilton Bank especially avail
able to people not caring to enter the
business district.
The usual flowers decorated the
rooms of the new banks and for a
time officers of the Riggs National
gave their time to help things along.
Altogether it was a successful open
ing. Some few complimentary ac-
counts were opened.
On the Stock Exchange.
There wasn't a bond sold on to-
days session of the exchange. Capt.
tai Traction shares featured, selling
rather freely at 80 to 9Sa, closing
at 9S5.
Railway common sold at 391s and
a little preferred at ssh. Bonds were
all held strongly.
Oversubscribed.
The new issue of W., B. & A. per
cent bonds, put on this morning at
~ was Observation-Disclosures is. the
underwriting syndicate was relieved
of all responsibility, with all bonds
sold to dealers.
: =, business in This District.
The Federal Reserve Bank of Rich
Hardy. it's chairman and federal re-
serve agent. says that:
> pronounced increase of activity in
many basic lines of industry has been
characteristic of the past month. 1t
has been particularly noticeable in
ing operations have reflected a trend
to higher prices. Steel plants are
working to about 70 per cent Of ca
pacity. The automobile trade has
showed a decided gain. Active de-
mand for building materials has ex-
erted a favorable effect, not alone on
metals. but on other lines of industry.
. The total value of building permits
Tor March was twice as great as for
February and twice as great as that
of March, 1921. A general increase in
the volume of business in nearly
every line is reported
Building operations in the District
of Columbia are reported for the
month of March as 400, new construc-
tion. $2.9S9,0s1. as compared with
$,4l0,715 for the same month last
year. -
The per cent of increase locally was
36.s, Lynchburg leading all cities in
the district with a gain Of 1855 per
cent, although the new construction
cost was but fraction of Washing
ton expenditures.
In comparisons of retail business
washington is accredited with a de-
crease of 16 per cent in net sales dur
ing March, as compared with the
same month year ago. For the first
three months of the year in compari-
son with the first quarter of 1921
there was decrease in net sales of
1872. per cent.
Net sales for the month of March
showed an increase of 316 per cent
l1.3 per cent heavier at the close of
March than they were a year ago.
The percentage of average stocks on
hand at the end of each month since
January L to net sales each month
during the same period, three months,
was 431.3. The percentage of out
standing orders at the end Of March,
1922, to total purchases for the year
1921. 81
collections are said to be improving.
PERSONAL Mention.
Appointment of Anthony ]. Barrett.
formerly supervising field secretary
for the National Catholic War Coun-
Gil, as manager of the new business
department of the Munsey Trust Com
pany. was announced Saturday night.
Mr.. Barrett also will be in charge of
the safe deposit vaults and will as.
Sist in the general accounting of the
trust company.
For the last fifteen years Mr.. Bar.
rett has been engaged in educational.
financial and social service activities.
He began his career as an educator
III the schools of Massachusetts. and
was principal Of school
in New York.
From 1868. he was president Of
the board of education of Canton. Ne
Mr. Barrett served on a board of
thirteen men selected in 1910 to es-
1ablish a Mechanics Institute to
proVloe educational. recreational and
athletic facilities for the workers of
the oxford Paper Mills, International
Paper Mills and the Continental Paper
Bag Company of Rumford, Me.