Evening star., 1925-04-24
NEW LINCOLN BANK
STOCK READY SOON
Fractional Shares Created
by Recent Dividend Are Be-
ing Rapidly Eliminated.
BY CHAS. p. SHAEFFER

arrangements for the distribu+ior,
% ne" shares of the Lincoln National
~ ~oahh 10 cover the 33 1-3 per cent
o.ocA dividend approved on March 10
are practically complete, and the new
Ger tl1cates will be issued in the near
tuture, Albert S. Galley, vice presi
I'm I'm OF the institution, announced
thls morning.
but little difficulty has been en-
F,att oulttered thus far in eliminating the
Ia, IlolaI shares, Mr. Galley said.
.,.pIe the plan of a special committee
aPpolnted for this work, certain di-
Lectors OF the institution constitute
puylng and selling agency which pur-
ShdSes fractional shares from willing
uolderS, reselling them to other frac-
liohal-snare holders, thus creating q
"hole certificates. Shares are being
eAcnansed on the present market level
OF $3.50 share.
ne Lincoln National numbers about
too SIockhoIders, all but four of whom
nave expressed a wish relative IN dis
Positlon or their fractional shares.
Two OF these reside in New England.
Elected Bank Auditor.
Audley A. P. Savage has been Off
cially elected auditor of the National
Savings & Trust Co.
Mr.. Savage has been with his pres
ent institution for approximately Is
years. lie, like the maj ajority of the
Junior official personnel of local banks.
IS graduate of the Washington
Chapter, American Institute Of Bank
ing.
Milton E. Allies. president of the
Riggs National Bank, left Washington
today for vacation at his Summer
nome, Bolivar Heights, near HarDers
Ferry. He will return TO active duty
On June 9.
Trading on Local Exchange.
Today's session on the Washington
Stock Exchange was dull and unin-
teresting. Norfolk & Washington
Steamboat Co. sold to the extent
of 10 shares at 249, and Capital Trac-
ton surmounted an obstacle and
reached 80 on two sales aggregating
13 shares. This is the highest price
reached by the security in months.
Mergenthaler and LanSton were both
unchanged. $50 and S0Ik. respectively.
National Mortgage and Investment
preferred and Riggs National Bank
maintained firm levels, at ga and 343.
The bond list was neglected.
Clancy to Head Institute.
r. Jesse CLANCY of the Commercial
National Bank was unanimously noni-
mated for the office of president of the
District Chapter of the American In
sttute of Banking last night at a spe-
clal meeting in the chapter rooms
Masonic Temple. The election and in
stallation of officers will take place on
May IA
Other nominations and the offices
Tor which they were named are: T.
Hunton Leith, Security Savings and
Commercial. first vice president;
Joseph D. Yerkes. Federal
and Robert T. Highffeld, Mount Yer
non Savings Bank, second vice presi-
dent; Garrett NJ. Van Hoesen, Second
National: William G. Winstead Ma
tional Metropolitan, and William
Roberts. Northeast Savings. secre-
tary; Alfred W. Sherman, American
security and Trust; James NJ. Mason.
Washington Loan and Trust, and
John F. Hillyard. National Bank of
Washington, treasurer: Elmer O'Hara.
Seventh Street Savings, and Ellis
worth Meyer, Franklin National. as
slstant secretary; r. P Lochte. Dis
trlct National, and a. z. Henze. W. B.
Hlbbs d Co, chief consul.
The term of three members of the
board of governors ends this year and
10 NIL these vacancies We're nominated
Harold W. Burnside, retiring presf-
/ dent of the chapter; George NJ. Ire
ian, Riggs National; James L. Dulin.
Jr, American Security and Trust
Miss Catherine NJ. Krieg. Riggs Ma
tional, and John T. Fletchau, Potomac
Savings Bank.