Evening star., 1926-06-03
PROPERTY RIGHTS
GIVEN TO WOMEN
Wives in District Granted
Same Privileges That
Other States Allow.
BY EDWARD G. STONE.

Columbia are given very importanf
property rights in the act passed by
Congress and just signed bv Prssi
dent Coolidge, amending the law code
in the National Capital so that the,
now have the power To make any
contracts AS surety or Suarantor or
as accommodation drawer, acceptoi
maker or indOrser." They are AZ.
corded the same rights as exist in
Maryland and Virginia and in many
other States in widely separated see
tions of the country. The law no"
declares that a married woman sha
have full control of her separate
property. and full contractual powei,
whether she is or is not engaged ~
business.
The act leaves women after they
marriage in the same position with
regard to their property and obliga
ton of contract that they held hefoi
marriage. In the past there has eX-
listed in the District serious handl
cap upon married women holding
property in their own name who
wished to borrow money for their
own uses. But in. the future married
women living in Washington. or hav-
| ing property in their own names here,
Z
/ parison with women elsewhere In the
| Nation and owning property in other
! Jurisdictions.
Passage Pleases Bankers.
+ Washington ba mixers and real estate
! brokers are highly elated over the pas
+ sage and signing of this measure.
They say the proviso in the origina
law. which has now been removed. has
sometimes opened the way for eva
sion of just debts. Under the old code
married woman could borrow money
on her sole and separate property and
in reality for her own use. and later
! declare that the loan was for the
benefit of another person. On this
claim she could have the courts re-
lease her from ability and decla re,
the whole transa ction void This sit
uation has sometimes caused severe
! losses to the banks.
But the new law is praised most for
what it will mean in the transaction
of legitimate business. u will great
ly simplify procedure. minority
/ report filed when the bill was under
discussion took the ground that the
amendment would sweep away all
financial protection from married
| women in the District. This view
however. is not held by local bankers
They consider II wholly Just and fair
I The officers of title companies also
i call it an extremely helpful measure.
The bill had the Endorsement of thL
| District Commissioners. the Women's
Bar Association of the District Of Co
iumbia. the National Womans Party.
. the District Bankers Association. the
/ District Bar Association and the Raal
| Estate Brokers' Association.
Directors Declare Dividends.
( Directors of the Washington Me
/ cha mics Savings Ba nk. Eighth and r.
streets southeast. voted the regular
/ quarterly dividend of per cent az
meeting held Yesterday afternoon
annual basis for long time
The directors also elected Joseph
| NJ. Mccarthy as assistant cashier He
| has been with the hank for several
years as a teller. Lloyd w. Davis,
one of the older employees of the
bank also was made an assistant
cashier
/ The stock of the recently organized
/ Washington Mechan mics Mortgage Co.
was placed on a per cent annual
basis. the first quarterly dividend 10
be paid on July ]. 1t was reported
that the first two $50. 900 stock issues
have been oversubscribed. and 1t was
| then voted to authorize a third $5n.s
! 600 issue. This is expected to com
plete the amount of stock which the
mortgage company will put out.
Stockholders Elect Trustees.
Shareholders of the East Washing,
ton Savings Bank, 312 Pennsylvania
avenue southeast, held their annual
meeting late Yesterday afternoon and
| elected the following trustees for the
ensuing year:
John C. w. Beall. James a. Donas
hoe. Gratz E. Dunkum. Lewis Flamef,..
John Ford, W. p. G.. HaZen. Michael
A. Lynch. Charles A. Mccarthy.
! Henry II. Mckee, Morris r. Marlow
William \; Payne. jr.; Samuel H.
Walker. John c. Weldon, Francis t.,
Weller and John c. Yost
! The new board will hold it's firsr
meeting on June s and elect officers
for the coming year. The present Of
| ficers are John c. Yost, president:
| Samuel n. Walker. vice president
Lewis F'lemer. second vice president
and Charles A. Mccarthy, secretary1'
treasurer.
Drug Store Stock Advances.
! Ten shares of Peoples Drug Store :
preferred stock sold on the Washing
ton Stock Exchange today at 1O3.
| gain of half point over yesterdays &
sale. Up to yesterday these shares
had been inactive for some time To-
| days price was the highest since II
| was listed on the local board Only
! two other stocks came out during the
! session; 10 shares of Merchants Bank
: & Trust Co. going at $50 and shares
OF American Security & Trust chang
/ ing hands at 3S05s.
Trading in the bond market opened
| with two sales at 81: Potomac Elec-'
trio Power Is recorded a sale of
1O6; Washington Gas 6s registered t02
| on a small turnover and the market
closed with four ~transa ctions in Wash
ington Railway & Electric IS at 80. :
Will Attend Convention.
Charles V. Etzler and Charles H..
| Taylor have been designated as rep.
| resentatives of the National Metro.
politan Bank at the coming conven-
| ton of the District Bankers Associa-
| ton at Hot Springs. Va. Herbert r.
Shannon, one of the hanks directors,
is vice chairman of the sports com
mittee which now is arranging a most
elaborate calendar of outdoor attrnc.
tions. Several other Metropolitan
directors are planning to attend the
session.
Other Financial Notes.
The gross debt of the United States.
May 81 was $20. .063, ,300,261. compared
with $40 ,069. 1891 April 30. and f26. .
500. .701 .64S August 81. 1919. when wars
debt was at its peak.
The Norfolk Southern Railroad CO..
reports April surplus of $92. .407 afters
taxes and charges. against S33.550, in
April, 1925. For first four months ofs
1926 surplus totaled $24S. 500. -compar-t
ing with $132.774 in same period of
nroviOus wear