Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-05
K|NDLE IS ELECTED
TOBOARDO OF BANK
Washington Mechanics Saw
ingS Adds Business Man
to Directorate.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
At the monthly meeting of the di.
rectors of the Washington Mechanics
Savings Bank yesterday afternoon,
presided over by Ezra Gould, Charles
II. Kindle was elected to the board as
an additional member. Mr.. Kindle Is a
we'll known local business man and
for some years has been secretary OF
the American Building Association.
which is said to be the largest con.
Germ of its kind in the southeastern
section Of the city.
After the election Of the new mem
Der President Gould informed the
board that the banks deposits had re-
Gently reached the highest point since
the institution was founded. On Au-
gust deposits totaled $1,s75,s12, a
gain between the July and August
board meetings of $4,000.
Local Securities Higher Today.
Capital Traction stock sold at 1881
on the local exchange today, this be-
ing gain of a quarter point over
the closing price yesterday. Ten
shares Of Washington Gas Light came
out at 70, while so shares of National
Mortgage & Investment preferred
sold at So, the same quotation that
prevailed In yesterdays market.
There was just one transaction in the
bond division, Potomac Electric con-
solidated IS selling at 100% for a
$1,000 bond, another quarter point ad
vance over the last turnover.
Business Considered Good.
i Washington bankers and business
men express no worry over the fact
that local bank clearings for July
showed slump. The decline is con-
sidered only seasonal and had been
anticipated. August and much of
September are also expected to be
rather quiet from a business stand
point. The fact that bank clearings
in the Capital for the first seven
months of the year reached SSH
197.964. gain of $4,000, 1888 over the
same period last year. is considered
highly satisfactory, and bankers now
feel very sure that clearings for the
whole year will pass all previous
records.
Piggy WiggIy Sales Jump.
An increase in sales of s11,953,0 94
for the first half of this year, as
compared with the same period last
year, is revealed by the semi-annual
report of Piggy Wiggly Stores, Inc.
The figures were contained in a
statement sent TO stockholders by
the PIGGY Wiggly Corporation. which
owns all of the $4,000 shares of class
"B" common stock and 176,609h of
the 100000 shares of class "A COM
mon. Sales for the half year to-
tailed $77,033,S41. with a net profit
of $404,923.
Bankers Committee Completed.
Membership of the publicity COM
mittee of the District Bankers AS
sociation. of which F. p. II. Siddons
of the American Security and Trust
Co. is chairman, has been completed,
and includes B. A. Bowles. wee piesl-
dent Potomac Savings Bank; Edward
l.. Hillyer, vice president Union Trust
Co; Hilleary G.. Hoskinson, vice presi-
dent Riggs National Bank; J. D. Leon
ard. vice president Washington Saw
ings Bank; H. L. Selby. cashier, Farm
ers and Mechanics National Bank;
Laurence A. Slaughter, vice president
Commercial National Bank; w. w.
Spaid Of w. B. Hibbs Co., and e.
Percival Wilson, secretary National
Savings and Trustee.
Six Foreign Trade Handicaps.
The American committee to the In.
ternational Chamber of Commerce, OF
which julius II. Barnes is chairman,
has listed six general conditions as
constituting a grave Endurance to in
ternational trade. These conditions
are:
1. The decline of purchasing power.
2. Depreciation of currencteS and
instability of exchanges.
8. Political instability and lack OF
security.
4, Discrimination against and aver
Al M
5, Increase of customs barriers
through the creation of new political
entities.
6. The entrance of Government into
spheres of industry and trade hitherto
left to private business.
Personal Notes About Bankers.
Ezra Gould, president of the Wash
ington Mechanics Savings Bank, re-
turned early this week from his va
cation, which included an extended
motor trip.
Julius Peyser, president of the Sc
curity Savings and Commercial Bank,
has gone to Poland Springs, Me-, for
the remainder OF August.
E. j. McQuade, vice president OF the
Liberty National Bank, is passing his
vacation in the White Mountains, in
New Hampshire.
C. w. Shoemaker, assistant cashier
of the Potomac Savings Bank, has re-
turned from his vacation, passed on
Long Island.
Other Financial Brevities.
The Interstate Commerce Commits
sion has authorized the Seaboard Air
Line to issue $422. 900 first and consoli-
dated mortgage bonds. The bonds will
be pledged and repledged from time to
time as collateral security for short
term notes.
President Joseph Sciavone of the In
ternational Exchange Bank announces
that plans are completed for the an
nual outing on August at Villa Roma
Club, on the Rockville pike. Judge
! Mary O'Toole will address the gather
ing.
Train-side motor coach service to
and from the heart of New York City
will be inaugurated by the Baltimore
and Ohio Railroad, when it's new fleet
of parlor-coaches will be put in opera
ton on Sunday, August 20. This use
of motor coaches for the convenience
of passengers to and from the busi
ness. shopping, hotel and theater, dis
tricts is the first of its kind to be I'M
dertaken by any railroad company.
Traders in the local board rooms
were greatly interested in the state
ment which came in over the tape yes
terday that Thomas Cochran had
spoken with enthusiasm Of General
Motors stock but had not set any par
ticular figure to which IL should ad
vance. The qualified statement made
the stock very erratic.
The last Of the educational talks
prepared by the local bankers asao-
citation and appearing in the adver-
Using columns Of the Washington
newspapers, is being published this
week. The chats are believed to have