Evening star., 1925-02-11
CHEVY CHASE BANK
PRESIDENT RESIGNS
Edward H. Jones to Devote
Time to Real Estate-Other
Financial Notes.
BY CHAS. p. SHAEFFER.

Edward II. Jones, president of the
Chevy Chase Savings Bank since its
organizatio has rendered his resig-
nation to the board of directors,
effective March Q, and will henceforth
devote his entire efforts to the realty
held of this suburban district His
successor will not be named until the
board meets on March 9, it was said.
The Chevy Chase Savings Bank was
organized about three years ago and
was only recently placed on a divf
dend basis. Its total resources ap-
proximate $425,000.
Mr.. Jones has already broken ground
at Connecticut avenue near Morri-
son street, which will house his new
headquarters
Soon to Vote on Stock Issue.
Stockholders of the Lincoln National
Hank will vote on the proposed stock
dividend of 331s per cent on March
10, between ! and . o'clock.
Officers and directors of the insti
tuition state in a circular letter TO
shareholders that upon investigation.
and after careful thought and con-
sideration, it is believed the increased
capital will be beneficial in caring
for the banks increasing and con-
stantly widening business, in addition
to compensating holders of the
shares.
adopted (and it is a certainty it will
be) the capital stock of the Lincoln
will be increased to 100000. its sur
plus will remain at 100000 and
100000 will be taken from the un
divided profits and given TO the
stockholders in the form of a. stock
dividend in the ratio OF one share
for each three shares owned. This
will still leave undivided profits of
approximately Sl50.00o.
Two-thirds of the votes of stock
| holders are necessary to pass favor
| ably upon the resolution.
Local Banks to Remain Open.
The principal financial markets of
the country, including the Washing
ton Stock Exchange, will not func-
| tion tomorrow on account of Lin
coins birthday. All local banks, how
ever, will be open for business, this
day not being a legal holiday in the
District of Columbia.
| Bradstreet's reports a sag in new
| building during January, expendi-
| lures reported at 163 cities in the
United States amounting to S211, ,465,-
! $50, compared with s246.sss.4s2 in
December and S21S,7e2,552 in January
| of last year.
Directors Elected for Year.
Stockholders of the 1nternationsi
Finance Corporation have reelected
the following directors for the ensu-
| ing year: Charles A. Douglas, L. Whit
| ing Estes, Ernest E. Herrell, B. l.
| Hinton, A. c. Lampe. F. w. Macken-
zie, Charles NJ. Pepper, E. l. Stock.
Walter r. Tuckerman and John X
Waller.
Directors will meet next Monde
| for purposes of organization.
Trading on Local Board.
Trading on the Washington Stoc'-
Exchange moved inauspiciously toda
! following the strong trend preValen'
| for several months. Lanston Mono
| type enjoyed fractional gain to rs
| later easing off the minimum range,
while Mergenthaler was unchanged a
170Is. Railway preferred was activ"
at S115. and National Mortgage and
Investment, preferred, again sold a
ie9s. A hundred shares of Columbia
Title Insurance sold at 8.
On the bond side of the market
! Railway As gained 4 point. $4,000
changing hands at 1914. Potomac
Electric consolidated SIS netted
slight gain on the day to aa7k, while
Gas IS sold at 1o2 in small denomina
tions.
On the unlisted department, 100
shares of Citizens Savings Bank
stock sold at 13.