Evening star., 1926-04-02
DISTRICT NATIONAL
CAPITAL S1,oDO,ODO
Surplus and Undivided Profits
About $925, ,O0O-Growtk
Rapid.
RY EDWARD c. STONE.

District national BANK announced
that in accorda nee with recently ap
D proved plans the institution now ha'
| a anaid-up capital of Sl.000.600 anc
surplus and undivided profits of sp
IEoxmately 1926. 200. which makes
the bank one of the largest in Wash
ington. The increase which was made
to meet the increased demands Of IT.
,-&lisntele marks another step in the
rapid and continuous growth IF the
bank. The District National was or
EantZed with a capital of 500 900, but
the stock was sold to the public Al
S11N 4 share and $4,000 transferred
to surplus. a few years later tbs
directors incres sed its capital to $3.50.
0O0 and purchased the Citizens Saw
inss Bank.
The bank was founded in 1909. hav
ing taken over by purchase the pri
vste banking firm of Harper & Go.
with Robert y. Harper at its head
\ Its first location was at I419 G street
but il Immediately purchased the
building at 1905 G street. and upon
the site built Commodious banking
room and ofhce building. 1t was soon
found that the bank had outgrown
its quarters and It began 10 look
srcund for new held for necessary
expansion. which resulted in the pur.
chase of 140s G street, and by re-
modelling its building enabled II to
complete one of the largest banking
lohhies in the city.
Mr. Harper announces that deposits
now total $500 900. giving the stock
a book value Of s1a5 per share, and
total assets of approximately Sl2,
800, 600. The banks present officers
include:
Robert y. Harper. president: Joshua
Evans. jr.. executive vice preside MT
W. r. Lipscomb c. !. Gockeler and
\. l.. Sansbury. vice presidents: Hill
leary L. Offutt. ir., vice president and
cashier; William c. LOCKER and Theo
dore s. Mason, assistant cashiers
Wharton r. Lester. counsel and trus,
omcer. and 3. L. Cotton. assistant
trust Officer
The board of directors consists Of
the following members: Ralph P
Barnard, Sidney I. Besselievre. A. P
'A[renshsw, Charles W. Darr. Atwood
NJ. Fisher. Elisha Hanson ". Charles
Heitmuller, w. S. Hoge. ir.: J. Miller
Kenyon, Marshall L. King. W. H
Martin. John F. Maury. f. J. Murphy
Charles c. Rogers. Albert Schulteis
H 6. Smithy, H. l.. Thornton. ]. s
TNree. Leon s. Ulman. Capt. Chester
Wells, Sidney West and Richard H
Wilmer.
Rapid Transit Reports Loss.
There was falling off in passenger
trafnc on the Washington Rapid Tran
sat Co. s bus lines during February
and for that and other reasons a loss
or $4,000 is reported in the monthly
etaiement filed with the Public Irtili
Ties Commission. The number Of mas
eenEers carried by the company's lines
IN February. 1928. totaled 3s7.0l4
wrble IN February of this year il
slumped to 3ss.752.
Inc report shows that of this loss
*67loss occurred on the main lines
rf sthe company inside the District.
Fns total operating revenues Of which
were $5s,o1921. with total operating
expsnRes Of 41,571.91. Revenues were
aoout the came as the corresponding .
month Of year ago, but expenses
were $4,000 higher.
The Maryland operation to the
vicinity Of Silver Spring resulted in
loss OF $3,4S414. total opera ting
FeTenues being $1523S2. with ex
parses OF $4.4s653.
Hints of demands for an increase
IN fares were heard today unless the
company is allowed To operate more
OF the double -decked huSSeS over
tWnich there has been so much recent
controversy. In April and Nav last
year when these busses were new to
Washington the company's revenues
showed marked gains. while operat- :
Ing costs were much lower on ac-
M&punt of the fewer number required
TO handle the same or greater
amount cf tranic.
Brokerage Houses Closed.
In connection with tho closing Of
the New York Stock EXch4ncn to.
dar. Good Friday, ali the hrokora 90
houses in the city also were shut un
Washington banks. however, were
open as usual today. The Washing
ton Stock Exchange. although it one.
rates Independently from the New
YORK Exchange, took the day off. but
VIII he open as usual tomorrow.
The banks In Baltimore were closed
as Good Friday is a legal holiday in
shat State
Five New Directors Named.
Five additions to the board of the
security Savings and Commercial
rank were made late yesterday. They
are William A. Hill. of Moore & Hill
INC. realtors: William c. sullivan. at.
torneN. sol HerzOC of Sol HerzoC e.
Co... merchants: Fra ncis 4. Blnndon
real estate, and Ralph Mckee. pro
plletof of the Metropolitan Hotel. who
mis- the vacancy created hv the re-
ceit death of Townlev A. Mckee. The
banks board has been increa sed TO
u by these fve additions.
Bankers VIII Take Air Tonight.
As announced in The Star early
IN the week, the radio talk to be
given this evening in connection with
the. educational campaign being con.
uucted by the American Institute of
Banking will he from WCAP and the
speakers will go on the air at .
o'clock.
Inc program tonight will consist of
dialogue between r. j. McQuade.
vice president of the Liberty National
Bank, and John NJ. Riordon. ca shier
Of the Bank of Commerce and Saw.
ings, on Borrowing Money from a
AFapk Mr.. McQuade will assume
the part Of the banker and Mr.. Rior.
don will play a role of the man
who seeks TO borrow, something that
UP TO this time he has known little
about
\. & w Sets Records.
Gross and freight revenues. revenue
freight tonnage, coal tonnage, surplus
after charges and earnings on com
mon stock stood out in the 1925 report
or Norfolk & Western Railway as the
best results the road ever had showed
Copdittons resulting from the closing
cf union mines and in the latter mart
Of the year from the anthracite strike