Evening star., 1923-11-07
BUILDING CONTRACT
FOR RBANKAWARD
District National Pushing
Plans for Branch-Trading
on Local Exchange.

Plans for a branch office of the Dis
trict National Bank, which has been
contemplated for Some time. have as
sumed definiteness with the awarding
of the contract leading to its con-
struction.
Hall, Herring& Co. of Cincinnati
have been awarded the general erec-
ton contract through their local
agent, Ross P. Andrews. The work
of installing the marble and mahog-
any fixtures has been given to F. X.
Ginter of Baltimore. The new instttu-
tion will be ready to open-its doors
by about the first of the year. II was
said.
The District Nationals new branch
will be the first under the tnterpre-
tation of the law governing branch
| banking. recently handed down by
Attorney General Daugherty. This
Interpretation dad not affect branches
already organized, but made the pro
vision that future additional offlces
| should function as merely "tellers
| windows" 1t will be located at the
corner of Connecticut avenue and K
street, in the building which was re-
modelled from the old Draper resi-
dence.
The branch. as planned. will con-
tain three tellers' windows, adequate
safe deposit facilities and spacious
and elaborate vault.
sLocaI Stock Trading.
Washington securities recovered
much of their lost activity of the
past few weeks this morning, when
a good volume of trade passed over
the board. Prices. generally were
firm and unchanged
Commercial National Bank stock
was the real leader of the session.
with a total of eighty shares chang,
ing hands at 141, the prevailing level
of the issue. Capital Traction was
unchanged at 50 and nfty snaFes '
Wa ashington Gas stock was hrmer AT
I4SA and Railway preferred SOLD at
l7IA.
S per cent issue of the company firm
at 93h Capital Traction 5s brought
SAY and a sale of $1,000 Metropolitan
railroad per cent bonds was made
at 9SA.
Local Bonds Oversubscrfbed.
The recent bond issue of 100000
tof local Potomac Joint Stock Land
Bank per cent bonds has been over
subscribed, it was reported by George
| A. Harris, president of-the bank, this
\ morning.
The issue, which is of thirty years
! maturity, was OnereQ at 1Vo, cdiidple
after ten years at par.
100000 Issue offered.
| The National City Company is to-
day offering locally s2,o00,000 of State
| of West Virginia road Az per cent
gold bonds at a price to yield approx
| imately 4.40 per cent The issue Is
dated April /. 1923. and the proceeds
of the sale will be used for high
/ way purposes in the state.
! Bank President Receivers.
f, George o. Watson, president OF the
Liberty National Bank. who was re-
| Gently operated on for appendicitis.
| will resume his active bank duties
"the first sunny day." It was said at
| the bank this morning.
Chapter Plans Debate.
A debating society of Washington
| Chapter, American Institute of Banf-
/ ing, was organized last night. with
the following officers: Clarence F.
| Schatz. president; A. E. Henze. vice
president, and Lois A White, secre-
| tary. The society will hold meetings
every Monday evening. The subject
| for the first debate will be. Resolved.
| That the tax on incomes under $4,000
i should be reduced before there is
| any reduction in the tax on higher
incomes"