Evening star., 1922-01-14
new BANK To OPEN,
ISSTREET RUM0R
Nearly All Local Financial
Institutions Hold Their
Elections.

manning to hold their annual elec-
tions of officers, directors and Of
ficials of practically evelG financial
institution in Washington were
elected during the past five days
There were some changes in a few
of the banks, as foreshadowed by
those familiar with local financial
conditions, but as a whole the ma
Jority of the banks retained their old
rosters.
Several new institutions were in
corporated during the last three
weeks, and rumor has it that there is
still one mSre savings bank to be
opened within the next month.
Trensury's Call
A call was issued today by the
Federal Reserve banks on all depoSi
tory institutions for Is per cent OF
the amount of deposit arising from
the purchase of United States Treas
ury certificates of Indebtedness, Sc
ries TJ-2, 1922, and I'd, 1922, both
dated December Is, 1921, amounting
to $i6,267. 900.
supply Corps Lectures.
The complete schedule of lectures
to be delivered by local bankers be-
fore the class of the Supply Corps of
the Navy was announced today. Mon
day. Robert V. Fieming, vice presi-
dent of the Riggs National Bank, will
talk on "TranSits"; Tuesday, r. W.
Hyson. manager of the National City
Company, will speak on The Income
Tax" and on Wednesday Joshua
Evans, jr. vice president of the Riggs
Bank. will address the class. taking
as his theme Bank Statements"
On January 20. % and % Mr.. Flem-
ing will round out the present sched-
hv L Two c1a
the federal reserve act.
Officials of the Navy Department
are much gratified over the success
of the classes, which were established
several months ago. and appreciation
was expressed for the interest local
bankers have taken in the matter.
Title Insurance Companies.
At the shareholders meeting of the
District Title Insurance Company
tors were elected: Charles G. Allen
Joshua w. Carr, Myer Cohen, George
F. Hane. Frank L. Reside, George
II. O'Connor. f. Southard Parker
Eugene A. Smith, Joseph I. Weller,
Edmund D. Rheem. E. l.. Schmidt, A.
G. Bishop, Fred Mckee and A. H.
Lawson.
Annual election of officers for the
washington Title Insurance Company
was also held yesterday and was
as follows: E. l. Schmidt A. G.
William V. Cox. H. Bradley Davidson
William T. Galliher, George F. Hane
George W. Linkins, Clarence F. Nor
ment, H. Glenn Phelps, B. Francis
Saul and Eugene a. Smith.
elected for both companies: E. L.
Schmidt. president; George H. O'Con-
nor, vice president; Arthur G. Bishop
vice president: Fred Mckee. vice
president; Alfred H. Lawson, secre-
tary-treasurer; John H. Stradler, as
sistant secretary-treasurer, and Will
liam L. Yeager, auditor.
Transit Company Elections.
At the election of officers of the
Washington Rapid Transit Company
held yesterday, Leon Arnold was in
stalled as president of the company,
succeeding w. Wilkins Reed. former
chief executive officer. William p.
and treasurer, and Fred A. Spicer and
Charles II. Leavell were made di-
rectorS.
A summarized statement of the
company'S operations was made out
and contemplated changes for the en-
of the company submitted for the
period of operation indicated a de-
cidedly healthy appearance, despite
the short life of the new concern.
= officials or the company stated that
the fifteen new buSses which have
been ordered for several weeks will
be delivered within a few days, ac-
cording to factory advices, and will
be put into operation Immediately on
the Rhode Island avenue and Petworth
line,
AT. & It's Good Year.
In a letter to all stockholders Of the
American Telephone and Telegraph
Company. President H. b. Thayer OF
that organization stresses progress
made by the company in the past year
He says:
During the year 1921 the progress
of the company in all that it has
undertaken has been gratifying and
we believe it has been distinctly for
ward.
1.-The quality of service rendered has
passed pre-war standards.
There is no reduction in the de-
mand for telephone service. While
final figures are not yet at hand for
the year, we can assure you that the
increased rate of dividend has been
earned with substantial margin as
usual"