Evening star., 1922-01-11


Following closely on the annual
stockholders elections Of all national
banks, three trust companies and sew
eral savings institutions yesterday,
announcement was made last night of
the organization of two new banks
which are expected to open their
doors to the citizens of Washington
and nearby vicinity in the very near
future.
The Guaranty Savings Bank, with
capital. Of 100000 and surplus
Of $4,000 is now under process of
organization, and its founders are
negotiating for the property at 1l2l
14th street, while the board of direc-
tors of the Prince Georges Bank of
Hyattsyille. at meeting yesterday,
let it be known that Mount Rainier.
Md, was to have a new banking in
stitution, located at 34th street and
Rhode Island avenue. that place.
The Guaranty Savings Bank, which
will open about March ], will do a
commercial and savings business.
which will include the discounting
of commercial paper, loans on real
estate mortgages, savings clubs and
banking in general. Three per cent
on savings accounts and 4 per cent
on time deposits will be offered.
Omcers Elected.
At a recent meeting of the stock
holders, held at the Arlington Hotel,
the following officers were elected:
Frederick J. Rice of the law firm Of
Bell. Marshall & Rice, president;
Robinson S. White of the Finance and
Security Corporation, and Arthur
Copeland, president Of the Copeland
Awning Company. vice presidents.
Edward P. Hinkel of the E. P. Hinkel
Carpet Cleaning Company, treasurer,
and J. Clinton Hiatt. secretary.
board ofFdirectors of the new insti-
tuition: Bert L. Olmsted, Roy +. Carly,
Martin w. Hysong, Richard J. Dow
ney, J. Frank Ferry. F. L. Harvey
cutter, DR.. Charles Billiard. John B.
Densmore. Roy NJ. Waldron, James
A. Collifiower. George Dolfus, Thorn
as A. Moskey, Warren w. Biggs. G.
Warfield Simpson, J. Clinton Hiatt,
Frederick J. Rice, Robinson S. White.
Arthur Copeland and Edward r.
Henkel.
Capital Stock Increased
In order to promote the new bank
at Mount Rainier the Prince Georges
Bank OF Hyattsville increased its
capital stock from $25,000 to 100000,
and it is understood that the stock
f! already has been subscribed. AL
though comparatively new insti-
tuition, the surplus and profits of the
Prince Georges bank now equals its
capital stock. it was announced. The
Mount Rainier bank is expected to
open its doors February /.
Donaldson Takes Presidency.
Notable among the changes that oc-
Cured as a result of the stockholders
elections yesterday was the success
sion of +. Golden Donaldson to the
presidency of the Commercial Bank
| in place of Rolfe Z. Boiling, who had
| occupied that Office for three years
and the retirement from the vice
presidency of the Institution of James
A. Cahill, long identified with the
| bank.
! Mr.. Boiling came to Washington
| three years ago from the Chatham
Phoenix Bank Of New York, of which
he was vice president. and to which
position he has been reelected al
| each election since that time.
Mr.. Boiling goes back to the Chat
ham-PhoeniX institution.
James A. Cahill has been a long
time figure of prominence in the Com
mercial National, was one Of the sign
| ers of the application for the bank S
| charter, and for some years its first
vice president. He is one of the best
known banking men in the District OF
Columbia, and was in the real estate
business before entering local finan-
cial circles. He will resume his real
estate business.
] Mr.. Donaldson has occupied the Of
! fee of chairman of the board Of di-
rectors Of the Commercial for two
/ years. He is understood to represent
! practically the controlling interests in
! the bank.
Mills Succeeds Cnhill.
Harrington Mills, who succeeds Mr.
Cahill as vice president of the bank
| is owner of the Harrington and Graf
| ton Hotels of the city. 1t is not
thought that Mr.. Mills will assume an
active office.
the Commercial from the Dupont Ma
tional. where he served as vice presi-
dent, was also elected to the Office of
| vice president Of the Commercial
while James e. Baden was made cash
Ter and vice president during the Com
the election Of directors the new COM
plement Of officers OF the bank were
elected: r. Golden Donaldson. presi-
dent; Harrington Mills. first vice presi-
dent; James B. Reynolds. vice presi-
dent; James H. Baden, vice president
president; C. c. Tucker, general coun-
sol. n. V. Hunt, j. Fendall Cain. Rob-
ert A, Ciesel and Walter J. Harri-
son, assistant cashiers. and T. Black
well Smith. manager Of savings de-
partment.
other Vice Presidents Elected.
Other vice presidents elected yes
terday included Henry H. Flather at
the Dupont National. Wistar NJ Bal.
derston at the Standard Savings and
William H. Gottlieb at the Washing
ton Savings Bank.
At the last named institution NJ. r.
Horton and Frank H. Shipe were
added to the board of directors. while
the old members of the board re-
elected included James F. Brennan.
John r. Brown. George B. Bryan.
episode eleven of Breaking. Through.
and "Masks and Mishaps."~,