Evening star., 1925-04-13
INCREASE IS URGED
IN CAPITAL STOCK.
Northwest Savings Bank
Needs More Funds in Order
to Expand Business.
By CHAs. p. SHAEFFER.

Milton e. Allies. president OF the
northwest Savings Bank. Will cir-
cnlsrtze his stockholders today call Z
ing A special meeting to be held 80
days hence for the purpose of voting
on an increase of capital at the
capital Northwest in order that the
oank may be nationzlized.
The present capital of the North 1.
west is 100000, which is just half
the amount required fer nationaliSa-
tton under the national bank act.
Following approval of the in
creased capital, Mr. Allies will seek
national bank charter from the +,
controller OF the currency When
this is procured the bank will func-
ton Independently for 30 days. at
the end OF which time it will be alb
sorbed by the Riggs National, which
owns 1T now. a transaction entirely
similar to the amalssmation of the .
Hamilton Savings several years ago.
which inaugurated the expansion OF
Riggs facilities.
Lansten Meeting soon.
The annual meeting of stockhoider7
of the Lanston Monotype Machine c..
will be neld at the Elks Home .
Alexandria, Va, at l. O'Clock noon
on Thursday, May 7. At this time
board of directors viii be named for
W.
amendments to the bylaws duly
adopted by the directorate creating
the Office Of chairman of the board
and defining his duties. changing the
date of the regular meetings of the
board and transacting such other
business a s may properly come be-
fore the meeting.
Transfer books will be closed on
April g, at o'clock. and wifi be re-
on -
New Campaign Organizes.
Announcement was made TO-DAY or
the organization of the Merchants
Security Company, capitalized ~
s@50,ooo, all of which is held b.
stockholders of the Merchants Bsnk
and Trust Company
Peter A. Drury, president of ths
Merchants Bank and TEust Companz.
is president of the en@rprise; Rolfs
E. Boiling is vice president, (. W
Popkfns treasurer and ". H White
secretary. Directors include Mr.
Drury, Mr.. Boiling, Mr.. Popkins,
Frank P. Hzrman, u, L Sherwood
L. E. Schreiner, Ernest Gerstenberg
and A. c. Waller.
Plan to Amend Bylaws.
The bylaws ofawaxhington Chap.
ter, American Institute of Banking
WILL in all probability, be amended
on April 23 to spermit one institute
member who is7ahflated with fnan-
cial institutions mot members of the
local clearing .house TO sit on the
board of governors Under the pres
ent regulations members from the
Treasury Department, Federal Re
serve Board and related vocations are
excluded from governing obligations.
The weeks schedule of the local chap
ter IS annesnced as follows: Tonight
r. B. Dickey, on "Presentmsnt for Pay
ment," before the negotiable instru-
| ments class: Tuesday. an exzmins
| tion, accounting class, Joseph h.
Moyer; dnesday. Notice of Dis
honor" by r. B Dickey. before the
negotiable instruments class; Thurs
day. an examination will be held
in the elementary banking class b:
Eliot H. Thomson, and the public
spealSing 2 and debate class will meet
/ in the stock exchange rooms. at
! o'elcek; Friday, an examination II
| credits by r. Gordon Finney, in
structor, and review by F. J. DoRo,
| huss in standard banking class
Trading en- Local Board.
| Trading was rather brisk. but un-
| interesting, on the Washington Stock
! Exchange today. Capital Traction
appeared in the role Of market favor
| ite, changing hands to the extent Of
F46 shares at s2A and s2h.
Gas Light stock continued weak,
selling at 57i@. Railway preferred vas
/ listless, easing off fractionally 70
S11s on sales Of 20 shares. Riggs Ma
! tional Bank brought 345si and Con-
| tinental Trust Company 81. a hun
dred shares of Citizens Savings sold
, on the unlisted board at IS.
! Bond trading was confined to utiI-
tiles at unchanged levels.
Banker Back At Desk.
William c. Johnson. assistant 20
| the president Of the Fedsral-Amer-
lean National Bank, returned to his
desk this morning after a serious ILL
ness OF five weeks.
- ssDollars and SeRSe' Appears.
/ The first issue of Dollars and
Sense" the official organ of the local
chapter, American Institute of Bank
ing, under its new editorial manage
| ment, was put into the mails today
The pamphlet is interesting in
structive and commendable.