Evening star., 1926-05-17

q can Institute of
JOHN POOLE Banking andwheu
a young man was
a clerk and later cashier in the office
or the United States Express Co. in
this city.
He was a member of Reeves. Poole
20. and for eight years was wit.@
the Washington Loan & Trust Co,
holding several important positions
He was then employed for two years
as assistant cashier in the National
City Co. s office here. lie resigned
Fthis position TO become cashier Of
the Commercial National Bank in
1909, remaining there until 1913, when.
he was chosen president of the Fed
eral National Bank. Mr.. Poole held
this position until 1922, when this
bank merged with the American Ma
tiOnal, he being elected head OF the
two banks, which became the Fed
eral American. In addition to being
head of the bank, he is a director in
the Chesapeake x Potomac Telephone
Co. and the Masonic Mutual Life In
surance Co.
How active he has been in financial
matters in Washington is further
shown by the fact that he was chair
man of the Washington Liberty loan
committee during five campaigns,
defense and OF the Roosevelt memo
rial for Washington. During the war
Mr.. Poole was a member of the Euro
pean relief committee. He has served
as treasurer of the Young Mems
Christian Association and is former
president of the International AssO-
citation of Rotary Clubs. He is a Re
publican in politics, Presbyterian in
church affiliations. thirty second de
gree Mason. member of the Odd Eel
lows and Elks; also of the City,
Rotary, Gavel and Racquet clubs. as
we'll as of the Columbian and Indian
Spring Country clubs. And it goes
without saying that he belongs to the
American Bankers and District
Bankers associations.
Exchange Trading Active.
Trading was pretty lively on the
Washington Stock Exchange today
when the leaders were Washington
Gas Light. Washington Railway n
Electric preferred and National Mort
gage & Investment preferred. Potomac
Electric Power preferred stood at
10712. Railway & Electric saw turn
over of 35 shares at go and 4 shares
Of Washington Gas Light stock regis
tered 6S12. Sales in National Mort
gage & Investment preferred totaled
lie shares. the price opening at 81
and dropping to SIS There were two
sales in Lanston at sc. and Potomac
Electric Power preferred interim Ger
tificates sold at 1865.
City and Suburban Railway az
brought S6I. Capital Traction 5s
changed hands at par, Washington
Gas 5s were out at 1912, Potomac
Electric Consolidated 5s sold at 1002i
Hr-ifh
sale of Washington Gas 6S at 1921.
Bank Adds New Director.
Franklin w. Harper. for many
wears q resident of Washington, and
president and treasurer of the E. Nor
rison Paper Co. has been made
director of the Central Savings Bank.
Cecil F.. Way, an alumnus of Ober-
lin College, has been appointed man
ager of the new business department
of the same bank. After serving in
the World War. Mr.. Way became as
sociated with the Guardian Trust Co.
of Cleveland, and later was with the
New York Trust Co, being in charge
of new business departments in both
banks.
Francis T. Savage states that it is
the banks intention to add further dl-
rectors in the near future.
New Issues Announced Today.
Subscription books were opened to-
dav in connection with the offering
of s. 900 shares of preferred stock at
500 per share and $4,000 shares of
common stock at $50 per share
brought out by the Federal-American
Co. The books are to remain open
until Thursday noon after which ap-
plications will be referred to an allot
ment committee.
Offering is made today by Macku
bin, Goodrich & Co. of Baltimore, and
other firms of S2.00O,000 National
Union Mortgage Co. 512 per cent
bonds, due June 1. 1881, at 100 and in
terest. The bankers at the same time
announce that S2,000.0O0 20-year 6s
have been placed privately. c. 7.
Shaefer is the firms local represent
ative.
The Western Maryland Dairy Co.
announces the offering and the sale of
81 500, 900 first mortgage 6 per cent
convertible 20-year gold bonds. The
issue is being handled by Gillet & Co.
Credit Convention Approaching.
Local credit men are much inter
ested in the annual convention of
National Credit Men, which opens in
New York Monday, May "a. with
headquarters at the Hotel Commo
dore. Richard II. Baden of Baltimore
is president of the organization and
4.500 delegates are expected TO at
tend. Preserve Prosperity" has been
decided upon as the conventions key
note. The program calls for many
trades group conferences. as these
meetings in the past have proved OF
exceptional value.
The thirteenth annual convention
of the Mortgage Bankers Association
of America will be held this year at
Hotel Jefferson. Richmond, Septem-
ber, 21-22-23. For president, e. ID.
Schumacher of the Southern Bond
and Mortgage Co., Richmond. is the
nominee of the board for election In
September.
The Mortgage Bankers Association
is making a remarkable growth, hav-
ing already this year added 1873 city
mortgage bankers to it's membership
list.