Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-06-23
BUSINESS |SDULL
. ON EXCHANGE HERE
John Poole Is Sending Out
1.-THE Diary of a Bank
Stakeholder"
BY EDWARD G. STONE.

washington RAllWa" and Electric
preferred and National Mortgage and
investment preferred recorded the
same volume of trading on the Wash
ington Stock Exchange today, when
business was unusually quiet. Forty
shares of Railway and Electric sold
at ssh in four transactions. while 40
shares Of National Mortgage and In
vestment changed hands at sig. Five
shares Of Potomac Electric Power
preferred sold at los.
The rest of the trading took place
in the bond division. where Washing
ton Railway and Electric As sold AZ
SPA Washington Railway and EleC-
trio general and refunding SIS came
tomac Telephone of Virginia 5s regis
tered q small sale a 80 fat.
In the unlisted department 10 shares
of North Capitol Savings Bank stock
sold at 16.
National Savings Directors.
William D. Hoover. president of the
National Savings and Trust Co. is
very much pleased with the selections
made by his board of directors of two
new members to fill vacancies in the
directorate.
James J. Becker. president Of the
Real Estate and Columbia Title In
surance Companie was chosen 10 fill
the vacancy on the board caused ny
the death of Gen. James a. Buchanan.
Mr.. Becker has been engaged in the
title business for some 80 years and
is considered one of the ablest men
in his line in the National Capital.
William r. Willard. son Of tho
late Henry X. Willard. takes the place
on the board long occupied by his
father. He is the younger of Mr.. VIII
lard's two sons and was graduated
from college only recently. His father
had often expressed the wish that the
young man might some day take his
place on the board and the present
directors had no hesitancy in carry
ing out his desire.
In connection with directories OF
Washington banks. it is worthy NJ
note that there have been an unusual
~ large number of losses among the
boards during the first half of the
present year, due to deaths. Several
Of the leading banks in the city have
suffered the loss of men with records
of long and loyal service.
Aims to Arouse Stockholders.
John Poole. president of the Fed
eral-American National Bank. is send
ing out a little folder entitled The
Diary Of a Bank Stakeholder the
aim of the folder being TO arouse
stockholders to a greater sense nj
duty in helping 10 obtain new Gus
toners The little booklet recalls the
fact that the year is half gone and
the dividend checks are being sent
out The stockholder is pleased.
The stockholder meets friend next
DAY who jokes with him because he
carries an account i'll different hank.
The joke gives him a new idea and
he transfers his account 10 his own
hank. He had never thought of ask
ing his friends or any one else 10 try
his banks service. After passing un
many chances the stakeholder finally
gets new customer, who deposits
$4,000
At the end Of the diary the stock
holder is pictured as figuring out how
much help to the hank the sharehold
ers would be if they all got more new
accounts. even if the accounts were
small ones. The total of small &C
counts runs into big figures. Then
he awakens to the fact that 1t would
not be long before his dividends would
take on weight
Gov. Seay Lauds Essays.
Gov. George L. Seay of the Fifth
Federal Reserve Bank lauded the
essays read at the bankers conven-
ton at Hot Springs by the three
young Washington bank employees.
Gov. Seay was present when they
were read.
II liked the boys essays very
very vital things upon which the
~ oil 6a ri danand0
They are new business and economi-
cal and efficient management. The
Young men showed that they had
been thinking a great deal along these
lines
Gov. Seav enjoyed the convention
so much that he remained at Hot
Springs throughout the session. II
was the second time he had addressed
the local bankers. He is always in
teresting Merle Thorpe, the other
guest speaker. also remained through
out the meeting. The delegates are
still smiling over his reference to the
sources of castor oil in Panama and
to it's distribution-"from the Panama
Canal to the alimentary canal" as
he put it.
In commenting on the recent deci-
sion in New York by which bank
voting trust has been declared illegal.
on the ground that IT is against pub
lie policy, the Bankers Magazine says:
while voting trusts that may he
self -perpetuating, or for long terms.
may he Objectionable. this objection
would be removed if these trusts were
revoCable at the pleasure of the share
holders: but, on the other hand. this
would tend to defeat one of the main
purposes for which the voting trust
Is eStabliShed--to provide for continu-
ity in the management.
Much criticism has been aimed AT
directors who fail to direct but little
has been said of the unconcern with
which shareholders treat the obliga-
tions implicit in their ownership of
the shares in corporations.
Personal and Other Notes.
Charles r. Grant. treasurer of the
Washington Loan and Trust Co, is
recovering at the George Washington
Hospital from an operation for appen-
dicitis. Right after the operation Mr..
Grants condition was reported as
alarming. but today's report says that
he is showing marked improvement.
Ellie Sheetz, the candy manufactur
err. who is one of the directors of the
Bank of Commerce and Savings, has
returned to Washington after Ave
week tour in Europe. He reached
home last evening.
The Virginia Joint Stock Land
Bank has declared regular semi
annual dividend of rs cents on IS par
stock. payable on July to stock of
record on June 20.
The number OF Pennsylvania stock
holders showed an increase OF 50 dur
ing May, making a total on June
of 141.5S6. The increase in April was
407, in March SIG and in February
444
Dillon, Read & co. and Dominion
Securities Corporation. Ltd. have
been awarded a new issue of $702 .942