Evening star. [volume] (Washington, D.C.) 1854-1972, 1924-11-06
HAYNES TO SERVE
A. B. A. COMMITTEE
Will Represent Bankers in
Clearing House Group.
Exchange Dull.
BY CHAS. p. SHAEEEER

marry V. Haynes. president Of tho
Farmersl and Mechanics Nationa
Bank of Georgetown, has been named
representative for the District of CO.
iumbia of the clearing house section
| or the American Bankers Association.
Inc clearing house section is an
important function OF the national
pody. AS local representative, Mr,
haynes Will be called upon to act in
an advisory capacity to the officers
ana members Of the executive con-
! Inlttees of the various associations.
| ~ axe manner, he will keep the ma
uohal body in touch with all events
! pertinent to the welfare of the bank
| ing world.
! me most important problem nogy
| oelns considered by the clearing
| mousse section is that Of unprofitab.e
accounts. This section is planning
! 10 Keep in touch with the entire
country through their state repre-
! sehtauVes, with the ultimate purpose
| OF deTising ways and means OF ar
| riNlng at solution whereby this
phase Of the banking business c:.n
! be carried along on safe and sane
lines with absolute fairness to Gus
toners and themselves, as well.
Local Exchange Quiet.
Restricted trading brought our
little OF note on the local stock eS-
change today. Seventy shares OF Ma.
tional Mortgage and Investment pre-
ferred sold at ., its prevailing level,
and an odd lot sale of Traction stocl-
was made at 9eA. Riggs Bank stocN
was strong, an odd lot selling at 3or,
Washington Gas stock brought 81.
and W aShington Gas fves, the only
active bond, sold at 1o2.
First Rivet for New Bank
The first rivet in the new $1,000
600 home of the Federal-A me ricaI
National Bank Building will be driven
this afternoon with appropriate cere-
mony.
To John Poole. president o. the
, institution, goes this honor NJ
armed with tomato can and other
implements OF riveting, will maxi
the catch of the sizzling bolt cata-
pulated by the good right arm o"
w. j. Waller. vice president of tho
bank
In the meantime work on the
structure is progressing rapidly. The
steel skeleton for the main banki1S
| moor IS in place. ready for rivetiuc,
giving to the public their first loca'
Impression OF the appearance Of an
elevated banking room Teller
cages, lobby space and Offices are
easily discernible N the present lay
out.
The structure will be under roe
in two months. Mr. Poole said thts
morning. while ii is expected 10 Ge
ready Tor occupancy by next June
Institute Raising Funds.
The Washington Chapter. Amcr!.ag
institute of Banking, will hold =.
theater party at Polls the night -
December !. with Little les
James" musical comedy. supplements
! ed By Paul Whiteman's Orchestra, :;
the attraction
Proceeds OF the performances viii
be given to rho institute to moet :
deficit and TO aid in the extension -
its educational classes. The chupt,~
has bought out the house for tue
night and is earnestly requesting. taa
local banking fraternity to lend ~
utmost aid. Tickets for t.lis partir-
ular night will be tax free.
Thus far the response has been
heartening. Officials OF the loe..
bankers association have taken til
+, lead, and those thus far solicited la y.
! themselves and directors. Two thou
! sand seats are available for tn"
| night, and those remaining unsolI
| VIII constitute deficit 70 Tie
| chapter.
| Made Bank Director.
William c. Miller OF the firm -
! W. {. &, A. y. Miller, real estate firm.
! has been MADE 4 director OF II
! Northwest Savings Bank, Francis Il.
| Savage announced today.
1. &. &. Bond Permits Asked.
| The Georgia Southern and Florid4
! Railroad today applied to the Inter
/ state Commerce Commission for au-
! thQrity to issue Sl.2H0, 600 OF equip-
mcnt trust certificates, the proceeds
to bc used to purchase 1000 box cas-
at i total cost of $500, 600. Til
carrier also ASKED authority 10 issue
SS50.0o0 Of per cent promissory note
! The Rio Grandc Railway applied fu-
i authority TO issue and sell s+4o.rGI
of first mortgage bonds and $4,000
+ Of common Stock the proceeds to be
| used for construction OF its lines