Evening star., 1923-05-16
BANK HEAD TELLS
OF GOOD BUSINESS
Northwest Savings Directors
Dine-NeW U. S. Deputy
ControIIer-Notes.

That the Northwest Savings Bank is
In a most healthy condition was
! stressed by Francis NJ Savage, presi-
dent OF the institution. in an address
at the dinner given its directors az
2400 18th street last night.
Mr.. Savage said that a fair valu-
alton Of the banks assets give a sur
plus Of so per cent. Our net earn
ings are about Z per cent of the
actual value Of the assets. though tho
earnings on the capital stock alone
are in excess Of that amount" said
! the oficial
! 1t was further shown that the
market price Of the banks bonds is in
excess at which they are carried on
the books. and that the institution
| had no bad debts.
Declaring that with the declining
rate of interest every banker knows
! that bank of the character of the
| Northwest Savings, located as it Is.
be profitable and do justice to the COM
munity. Mr.. Savage said that the high
er rate of interest on bonds and loans
| for several years had enabled the bank
to make money. and that he felt GER
tain the Northwest Savings will. with
in three years, have $1,000.o0o in de-
posits.
Mr.. Savage expressed his apprecia-
| tion to residents OF the community for
their support and loyalty
Dion S. Birney addressed the gath
ering on the law relative to the estab-
ilishnaent Of branch banks in the Dis
DR.. G. s. BirdsalI presided as toast
master. and was most humorous in
introducing the following: Jesse H.
| Hedges. who spoke on "The Real
Estate Movement; Charles W: Nor
ris. Real Estate Loans: Maj. Fred
point of Bank; Frank S. Bright
"a Bank Needs Purpose; DR.. Garden
r. Garner. prevention or Cure; Wat
son B. Miller, "a Kentucky Poem"
and Mr.. Savage, Sound Morality and
| Good Faith"
! Treasury Bonds Subscription
4 Secretary Mellon last night an
! the recent offering of Treasury four
| and three-quarters per cent bonds
had exceeded $1.100.0 100000 and that
less than half OF the combined cash
| exchange subscriptions would be ac-
| cepted. The Treasury expects to con-
| tinue accepting offers of victory notes
! in exchange for the new bonds, which
| mature March Is, 1927, for a few
days
The exchange offerings aggregate
| slightly more than 00.000,000 and
all of these. it is understood. will be
accepted. The cash subscriptions.
| however, now closely approaching
] 5000, ,o0o.0n0. likely will be accepted
| only to the, maximum of $500. 100000,
! lui whicn the Treasury asked in its
| original announcement.
| w. j. Fowler Named by Dawes.
| Announcement OF the appointment
| OF Willis J. Fowler as deputy control
| Ter of the currency to succeed the late
/ Thomas r. Kane, and the recorhmen-
dation of Col. Joseph w Mcintosh to
\ national agricultural credit corpora,
1 tions, as provided in the agricultural
! credits act recently passed by Con-
gress, is made by Henry II. Dawes,
oneroller OF the currency
! Mr.. Fowler is we'll known in local
| financial circles. and his appointment
is most pleasing to his wide &C.
quaintance here. He is q native of
Ohio, and was appointed from
Fort WAYNE; Ind t. e.t,arsa the bureau ,os Of
involved contact and supervisory
guidance in all OF the divisions Of
the bureau. In addition. Mr.. Fowler
has served in an advisory capacity 70
twenty-five years. and is particularly
well known among the aationsd
bankers.
/ Col. Mcintosh, who at present is d.
!
iShipping Board Emergency Fleet Cor
operation, is by training both farmer
and a banker. He formerly was en-
gagged in the banking business in Ne
1.-THE outbreak Of the world war he wis
commissioned q major. and rose to
the rank Of colonel. later being made
chief of subsistence.
Reception to Crissinger.
The District Of Columbia Bankers
| Association will tender reception
to D. r. Crissinger. governor of the
Federal Reserve Board, and his as
sociate members of the board at the
Racquet Club on May "a at o'clock.
lit is expected that H. NJ. Dawes. who
has succeeded Mr.. Crtssinger as con-
troller OF the currency, Will also be
present.
A buffet supper will be serve.l and
a large attendance of officers, direc-
tors and delegates of local banks
will be present.
A. c. Flather to Speak.
A. c.. Flather of John L. Ed.
" ards & Co.. will address ths school
F.; Friday afternoon, taking as his sub
ject. The Functions OF Trust Com
psny."
The Washington Clearing House
Association was to held special
l mee1ln& CnlS GIleEnoOa 10 pcELSSl
plans for the protection of bank rum
ners during the coming imperial ses-
| sion of the Mystic Shrine.
Realizing the city will be over
crowded with members of the light
! fingered gentry during the conven-
ton period. the association will be
asked to approve extensive plans
which have been tentatively drawn
! M What these plans are. of course.
| has not been revealed. but accord
| ing to advices they are SO complete
as to insure minimum loss 70 tnsti-
tutions during the session.
! New Accounts Contest Closed.
| The new accounts contest or the
Security. Savings and Commercia
Bank, which has been in progress Tor
| the past six weeks. was officially
| closed at the City Club Monday night,
| when the winning team. captained by
George Shisler, gave consolation
/ dinner to the losing array. headed by
1 Jerome Friedlander.
| Seven hundred new accounts. ag-
! HrerstinE $4,000. we're netted. ac
cording to q statement issued by those
In q brief address. julius I. Peyser.
president Of the bank. congratulated
: the workers on their splendid show
ing" ...