Evening star., 1926-03-24
BANK K|SPLANN|NG
TOBU|LQADD|T|ON
Washington Loan and Trust
Co. Proposes to Construct
Annex Shortly.
BY EDWARD G. STONE.

DA LDN AID T.. HTONE.
IT was learned In the financial dis
trict today that the next bank to ex-
Pand It's present quarters will be the
washington Loan and Trust Co., 10
Gated at Ninth and r streets. which
VIII start the construction In the nea,
iuture OF large annex adjoining this
building. on the + street side. The
buildings adjoining the banks present
home. which were recently so badlv
damaged by fire, have long been the
banks property, and the new struc-
ture Will cover three lots. giving q
new frontage Of some So feet. il Is
understood that work of wrecking the
building in which the drug store was
located will be commenced as soon a.
the insurance has been adjusted.
When the addition has been con
structed the building on Ninth street
In which the banks real estate de
partment Is located Will be given up
and the department moved to the first
floor In the new structure. The for
eign. bond and information depart.
ments also will be here. On the sec
ond floor will be the trust department
There also Will be room for the
directors room and a lunchroom. The
upper floors will be devoted to offices
while the basement will furnish a new
home for the safe deposit section. ],
is not known yet just how many
stories the building will contain. The
architecture will harmonize in a gen
eral way with the exterior and interior
OF the present bank.
The Washington Loan and Trus,
Co. s present quarters were thorough
iy renovated about Il or 13 wears
ago. The banks business since theu
hno S&-
pansion had been discussed for a long
time. but the recent fire brought mat
terS to q head very suddenly.
Capital Traction Again Lower.
Capital Traction was the feature Of
the trading on the Washington Stock
Exchange today. the stock closing a.
100 fiat, or 6 points under the price
level prevailing during most of las;
week, and 2 points down from the
last sale yesterday. The stock opened
with the sale Of two lots at 1862
The next sale brought 106, after which
the stock fell off to 1861 and then
down to 1051s. The drop to 105 came
after call. All transactions were in
small lots, none being over 10 shares
Local market observers say the recent
weakness in the stock is partially due
10 the street car merger situation
The stock was forced up on merge,
taik. IL now appears that any possible
merger Is such a long way off thai
many traders are switching into some
other stock for the present at least.
Merga inhaler Linotype again was
strong 80 shares changing hands a;
2io. Merchants Transfer and Storage
preferred came out at 101 and Poto
mac Electric Power preferred was 1O7
Ten shares of Continental Trust Co
stock was sold at par and four shares
or National Metropolitan Bank stock
changed hands at 401.
In the bond division Washington Ga,
5s sold at 100L, Capital Traction IS
stood at par and the market closed
with a sale of Washington Gas stool
at 69ls.
New Company Votes Dividend.
The board Of directors of the Fedora
Security and Mortgage Co. held u
meeting yesterday afternoon at the
company's Office. at 1412 X street, and
declared an s per cent dividend on the
preferred stock. The dividend is pay.
able about April to stockholders OF
record on March 81.
Morris CafritZ. the president of this
comparatively new organizatio said
that the concerns business was in ::
prosperous condition and'that the SUI
plus was steadily being enlarged.
Death Shocks Associates.
The local financial district was
shocked to learn of the death yester
day of Milton Hopfenmaier, a victim
OF acute appendicitis. at the age Of
only Al years.
Mr.. Hopfenmaier had a wide circle
OF friends in Washington flnancial
circles and only recently was elected
a member Of the board of directors
of the Merchants Bank and Truss
Co.
he was man of aff1uence and ex
ceptional business sagacity. His as
soclates said today that few men OF
mis- age in Washington had ever been
more successful in business. the es
tate which he left being valued I'm
the vicinity of million dollars.
TOday's Personal Notes.
g. Bryan Pitts has returned 10
Washington from a six weeks yaca
tion passed in the South. Mr.. Pitts
Is chairman Of the board of directors
of the F. II. Smith Co
Edison B. Olds. vice president of the
Union Trust Co.. was back at his
desk today after several days passed
in New York.
assistant director of the United States
Bureau or Foreign and Domestic Com
merce. has been elected a trustee OF
the International Securities Trust of
America. the headquarters Of which.
is in Boston.
Keith Issue on Market.
The Bankers Trust Co. Dillon
Read & Co, and Lohman Brothers
today are offering the new 5000.
900 b. f. Keith Corporation issue Of
first and general refunding mortgage
2O-year per cent bonds, series A. al
100. ~ q
The new corporation has been or
ganized under the laws of New YorL
State to take over from the b. F
Keith Theaters Co, many of the
theaters now being operated in con
nection with the Keith vaudeville cir
cult: keith's Theater here, az well
as the Earle Theater, are included
In this circuit
The proceeds from the sale of bonds
Is to raise funds for refunding. ex
pansion and other purposes.
Other Local Financial Notes.
The District Bankers Associa,ion
will hold a special meeting this after
noon, at 4:30, at Masonic TemnIe
After this meeting w. w. Spaid
chairman OF the general convention
committee. will report the latest de.
velopments In connection with the
coming June meeting. Several more
committee members are expected to
be named.
At a meeting Of the board of gov.
ernors OF Washington Chapter. Ameri-
can Institute Of Banking, it was voted
to continue the course in public speak
ing throughout the year. Dale Car
magic, who has been conducting this
course, has concluded his work here.
and the reins now will be taken UP
by Fernand Petit. The chairman of
the committee in charge Of this work
ia r. HuntOn Ieith