Evening star., 1926-04-17
EZRA GOULD AGAIN
SAVINGS BANK HEAD
Washington Mechanics Adds
New DireCtOr-Today'S
Local Trading.
BY EDWARD G.. STONE.

BY EDWARD c. STONE.
At the annual meeting of the stock
holders of the Washington Mechanics
savings Bank Ezra Gould was re
elected president and r. II. Bagby
was reelected vice president of the
institution. At the same time T. j.
Groom was made member of the
BOARD OF directors and the following
directors were reelected to serve for
the ensuing year:
X. II. Bagby. Ezra Gould. MahIor
Ifoo, George Hayes. l.. Hoyt Lamb.
Jesse Il. Is. Lee. DR.. Edward f.. Pick
Iord. q. Bryan Pitts. DR.. j. c. Pyles.
Or. Edwin +. Roberts. f.. Hume Tai
bert, John p. +. White. +. u. Wi.
inns and T.. s. Wolfe.
Inc officers reelected other than
Iessrs. y Gould and Bagby were T. J.
Iroon1, secretary A. :.
oifutt' assistant cashier. and NJ. H.
assistant secretary.
The bank has shown n STEADY
growth since its incorporation. and
2 comparison of the opening days d.
posits of S1,470 on June ., 1906 with
deposits of S1,720.313.33 on ApriI y.
1876. establishes the institution as
most progressive.
Trading Quiet on Exchange.
Trading wound up the week on III.
" ashlngton Stock Exchange viii
light sales and moderate price
changes.
The new Nlergentha!er Linotvnc
stock. which was dealt in yesterda,
Tor the first time after the old stoci-
had been removed from the board Wa
out again today. four shares changin.
hands at iU4. off half a point.
Another recently listed stock. Pee
pies Drug Stores preferred. also AZ
peared on the board TODAY. 10 sharee
going at 1928. Washington Gas Iighr
stock led in volume Of trading. A.
shares changing hands in three dii
ferent transactions at 6S1e.
In the bond market Washington Ga
6s opened at l03 y on 81 900 transfe.
and on 5000 sale after call registc,.
ed 102l2.
Capital fractions Net. S48.365.
according to the Capital Tractiou
Co.'S report for February filed lat
Yesterday with the Public Utilities
Commission. the street railways ne
Income for the month was S4S.367.
Total operating revenues were
s35S, 131.13, while operating EXPENSE
were S252.515.61. Taxes amounted
to $50. .S66.5@. Operating income, th-
difference between revenue and ey
pnnses. was named as S15.29494. Other
income Of $313.O2 was noted. makiny
gross income S7j.G07. sc. from which
deductions of $27,24Q.40 left the ne
income as stated.
EedaraI Rasarva pra;eod
, Charles ID. Boyer, cashier of the
Federal American National Banh.
la uded the great value of the Fedora
reserve system in a radio address
broadcast last evening in connection
with the American Institute of Bank
irg's educational campaign. His sub
ject was Americas Financial Reser
Voir, the Federal Reserve System.
He said the Federal reserve has bIi
lions in readiness to aid the banks ~
time Of need: that the system has
brought about the end of great nd
iOnai panics: showed how the 2 banks
in different sections OF the country are
always ready TO supply credit, and
explained how Government superVi
sion makes the system absolutely safe.
the stock is held by the mem
Der banks.
how very important the Fifth I;e
serve Bank has become in this dis
trict. showing that the clearing
the Richmond Bank, which
serves Washington. have become enor-
nous. The system provides for tinan
cial mobilization on scale never be
fore known. Its value was best shown
during the great war. In CONCLUSION
the speaker quoted President Coolidge
as Sd wing that the system has proved
itself q bulwark of strength in times oi
emergency"
Dividend Checks Sent Out.
Stockholders of the Union Finance
Co. at 1410 III street, were receiving
checks today covering the twenty
third quarterly dividend, at the rat"
of per cent per annum on the CON
pany's preferred stock and 40 cents
per share per year on common stock.
The statement mailed with the checks
shows added Improvement over the
last report The company Ofiiccr~
are: W. Al. Ward. president; William
BrayShaW. vice president: G. A. Hunt,
secretary. and \. NJ. Roth. treasurer.
Dillon. Read & Co. in behalf of thc
syndicate consisting of themselves
and the National City Co., announce
that the issue of $4,000 900 Loew'S.
Inc. 15-year per cent sinking fund
gold debentures with stock purchase
warraDtS) offered by them. has all been
sold and the subscription books closed.
Association Elects Officers.
Vt the annual meeting of the North
ern Liberty Building Association
F. A. BlundOn the president. reported
that the firms assets are 3.39 1893
and that the company has paid out
more than $165,000 in interest during
the past yer. In addition to the
president. the officers elected include
William G. Zimmerman. Alexander FL.
Pitt. William Clark Taylor, George
c. Gertman. James l.. Green, William
A. Pierce. Charles w. Botsch, n. 7.
Engel ard Harry f.. Allen.
=. A. Blundon. president; A. +.
Jorss. vice president; +. J. Ehlers.
secretary. and G.. NJ. Emmerich. treas
urer. were again chosen -. street the
affairs of the association fo< the en-
suing year.
New York Deposits 0T.
\ review of recent Developments in
New York. made by the l,leXande
Hamilton institute. declares that de
posits i'm banks there have declined
5000. 900 900 in the first quarter of the
year.
Outside banks have been withdraw
ing funds from New York borrowers
for use in Spring trade financing.
The calling of loans has been a factor
in forcing security prices down. bui
some part of tie decline has been due
to anticipation of smaller profits neNt
Fall and Winter. the review says.
This review is of special interest l."
Washington in connection with III"
bank call. dated April l.. which
showed substantial gains of nearly
So 900 900 in bank deposits in Wash
ington during the past three months.
Phone Checks Received.
An unusually large number of cor
porations distributed dividends t.