Evening star., 1923-06-19
SIX D. c. BANKERS
IN NL|VELY CONTEST
Vacancy Near on National
Association CounciI-LocaI
Stocks LoWer-Notes.

one Of the merrfest contests ever
staged in the District banking frater-
nifty is scheduled to be waged Sat
urday al Hot Springs, Va, when tho
local association names successor &c
George o. Watson, whose term as the
Washington member of the executive
council of the American Bankers As
socfation expires. His successor VIII
be inducted into Office at the annual
convention of the national association
in Atlantic City this fall.
At the present time there are under
stood to be at least six prospects for
the office. These include Joshua Evans.
jr., retiring president of the local as
citation; Col. Robert y. Harper, presi-
dent of the District National Bank:
George w. White, president of the
National Metropolitan Bank; John r.
Larner. president of the WASHINGTON
Loan and Trust Company: Maurice D.
Rosenberg, president of the Bank of
Commerce and savings. and John Poole.
president of the Federal-American Ma
tional Bank.
Members of the coveted council are
elected by popular vote of national
members Of the various state asso-
Citations, one member being chosen
for the first 100 member banks nf
the national association and there
after at the ratio Of one additional
member for every additional 200 na
tional members
Duties of the selected member Will
consist of representation in the paren'
body Of state associations. The
term of office is for three years
Liberty Declares Dividend.
Directors Of the Liberty National
Bank have declared a dividend ~
= II 4 fsal
of the institution and have trans.
ferred s12.50O from undivided profit
to surplus, bringing this total fund
to $l25.00 The dividend disburse
ment is payable on July . to stock
holders Of record June %. and places
the banks stock on an annual bass
of per cent.
The institution now has a capital or
100000, surplus of Sl25.000 and un
divided profits of about $4,000 IT j.
one OF the most progressive institu
tions in the city.
Utility Bond Offering.
The local Office of the Guaranty
Company of New York, in conjunc-
ton with Harris, Forbes & Co. is of
fering for public subscription $1,000
600 of Memphis Power and Light
Company first and refunding mort
gage per cent gold bonds.
The issue is dated January l. 1928:
9sl2 TO yield more than per cent.
Linotype Meeting Today.
Directors of Mergenthaler Linotype
Corporation hold their annual meet
ing this afternoon in Brooklyn, y. "
Edward J. McQuade, local director. is
in attendance.
Directors of the District National
Bank have declared their usual quar-
terly dividend of per cent, payable
on June 80, to stockholders of record
June 25.
Local Stocks Lower
Stocks on the Washington exchange
continue to exhibit declining ten
dencies. In this mornings trade
Washington Gas slumped still further
to 474. after opening at 4S12. on
sales aggregating but seventy shares
Like wise. the preferred issue of Wash
| ington Railway and Electric dropped
! back to 72A from 73, while fifty-two o
shares changed hands. Riggs Bank
sold to the extent of single share
at 653. the bid and asked price of
this security. however. being much
lower at 647 and $40. respectively.
On the investment side of the mar
ket, gas bonds sold at "a, PepCo gen.
eral mortgages IS at 99Is. general and
refunding 6s at 101 u. and Traction
IS at 81.