Evening star., 1924-09-16
BUILDING OF BANKV
TO BEGIN At ONCE
Federal American WAITING
-, ,ids
tor SteeI-Traction Stock
Lower on Exchange.
BY CHAS. p. SHAEFFER,

Actudi construction work on the new
mlilion-dollar home of the Federal
American National Bank. on the south
east corner of Fourteenth and G streets
northwest, awaits the first delivery of
steel, 1t was announced this morning
Inc excavation has been sunk to it's
necessary depth in places. and compile
tlon or this work can now be measured
by days
A minor change in original architec-
,ural plans was announced this morning
oy John Poole, president of the insti-
tuition. These plans, which will en-
nance the beauty of the structure as
"eii as materially add to convenience.
CONSIST or an ornamental dividing stair
case leading from the main banking
room to the mezzanine. The addition
VIII De directly opposite the main stair
case leading from the street, thus pre-
serving the alignment
Cnder the original plan entree to
the meZzaine could be effected only
Via elevator or by stairway behind
the business counters
plaster model of the new building
which sets forth its elaborate designs
IN detail has been supplied the insti-
tuition.
Francis Savage Returns.
Francis NJ. Savage, president Of the
Northwest Savings Bank, has return
ed to Washington after tour cf
Europe.
MIR. Savage. relentless in his fight
against branch banking, says tho
Big Five" banks of England with
branches are in control but Barclay;
is bit Of thorn though one ~
the five; that some six banks ia
France with branches. and abou
seven in Italy with branches. con-
troll the money of those countries.
That in England the bank clerk.
are organizing d national union. n
natural outcome: that ragged towns
are slow growing villages and lack
of opportunities for young men pre-
vail in Europe as a consequence 80
financial control by large centralized
banks in cities
Mr.. Savage added. the Anti Bran i
Banker" will continue to be issued.
and that the local and national tigni
will be continued 10 the end.
Freight Traffic Decrea~e>
July freight traffic totaling 33.151
$4,000 net ton miles was almost II
per cent below July of last year, for
which period il was the heaviest on
record, according to reports by the
Amer can Railway Association. TIL"
eastern district showed a decrease o.
1919 per cent, the western district
showed decrease of 81 per cent and
the southern loss of "a per cent.
Ere light traffic for class one rail
roads in the first seven months Of
1924 amounted TO 2$7.79l,2S1. 900 net
ton miles. a decrease of 80 per cent
under the same period of l92:
Funds Transferred Quietly.
The Treasury turnover of more
than "A billion dollars yesterday was
effected without any visible effect on
the money or securities market.
Following the heavy turnover Of
funds on March 10 of this year, there
was sharp rise in money rates.
with resultant contraction or
trading in the securities markets.
Quotations of call and time funds
yesterday, however. remained ui-
changed.
Capital Traction Eases on.
Capital Traction stock. while com
paratively inactive, eased off in to-
days selling on the Washington
Stock Exchange. f1uctuating between
9oZ,. its opening figure. to ~ Is, its
closing quotation. Only 50 shares
changed hands.
Washington Gas Light maintained
its former level. 80 shares selling at
50A, and Railway preferred sold at
76. off fractionally, so shares chang
ng hands. Continental Trust Com
pany was unusually active. 65 shares
selling at So, and 100 shares of Ma
tional Union Fire Insurance sold at
II. \ like amount of Columbia Title
brought SIS. and Lanston was steady
at IS.
Bonds were lTStieSS and Unchanged
Bank officials Return.
Charles Is. Lyddane. vice president
,,F ha r.I. al A ~, Nat al
Eank. has returned to work after i
three-week vacation spent at golf
courses adjacent to Washington.
Charles ID. Boyer. cashier of the same
institution. has also returned after A
1000 motor tour with his family
through PENNSYLVANIA. Ohio and West
Virginia.
Women Plan Convention.
An event of general interest this
month will be the convention of the
Association of Bank Women. held in
Chicago September % to October Z.
simultaneously with the American
Bankers Association convention.
The program committee announces
that the convention will be a three day
session and will include discussions
of banking pra ctices in the varied fields
of service generally filled by women
Topics of interest to trust company,
national bank. State bank and savings
bank women al, have place OH the
program 1t will be planned. giving
women de crates an opportunity to al
tend important sessions of the A. b. A.
convention.
Miss S. Louise Mitchell. assistant
cashier of the Federal-American Ma
tional Bank, and Miss Mary Winfree.
secretary of the Continental Trust
Company, are local members Of the
association.