Evening star., 1926-06-09
BANK IS OBSERVING
10Th ANNIVERSARY
Washington Mechanics Saw
ings Institution Has Envi-
able Record in Capital.
RY EDWARD q. STONE.

Ezra Gould. president Of the Wash
ington Mechanics Savings Bank. and
his official family have been receiving
felicitations today on the banks TWEEN
tieth anniversary The institution
the main Offices of which are located
At Eighth and g streets southeast
opened its doors to the public or June
2. 1908. after being incorporated under
the laws of Virginia and receiving
charter on March % Of that year Mr.
Gould was one of the founders and -
the only president the hank has had
The capital was $4,000 and on 'he
first day deposits were 81 1875
The Peoples Commercial & SaytrE7
Sank was consolidated with this bank
in October. 1924 The Peoples two
branches were taken over and have
been maintained ever since. Offering
complete banking facilities TIE Do
posits of the Peoples Bank At the time
Of the merger were $3.50 n0n. Todsr
the consoida ted bank has deposits ~
over 81 100000 The stock was h.f.d
on the Washington Stock Exchange
in October, 1920. and first sold a. s2A
per share. IL is now quoted AZ 80 MD
and so asked
The bank has enjoyed steadily o.
panding business and mas attained
high degree Of community usefulness
In addition 10 Mr.. Gould the preser'
officers and directors are: r. II. BAG
by. vice president: r. i. Groom. sarra
tary and treasurer; NJ. W. Buckirs
ham, assistant secretary; A. S. Offut'
J. NJ. Mccarthy and l.. W. Davis. as
sistant "a shiers. Directors: r. n
Bagby. Ezra Gould. Mahlon Groo. r
J. Groom. George HAYES. j.. Hoy
Lamb. Jesse 3. X. Lee Edward =
Pickford 6. Bryan Pitts. !. Chester
Pyles. Edwin E. Roberts. r. Hume
Talbert. John ?. F. White. r, r. VII
iiams and E. s. Wolfe.
Local Securities Prices Firm.
Prices were steady on the Wash
ington Stock Exchange today. the
transfer Of $50 shares of National
Mortgage and Invest tment preferred
leading trading SO far as volume vas
concerned. One hundred shares ~
this stock changed hands in TWO 20
share transactions. al si2. and the
final sale of 80 shares recorded 50
Capital Traction made up its frsc
tional loss Of YESTERDAY 80 share in
two transactions selling A. l03ie.
| There We're two sales in Lanston 2
S61o. and five shares Of Merchants
Transfer and Storage preferred soid
at l0l. Four 1o-share lots of Wash
ington Gas Light stock went AZ ssi.
IncGe were ONLY TWO IFHNSdfllpD-
during the session in the bond div
sion Washington Gas 6s came out
at 104i.. and on a sale involving hut
5000. registered the lower price W
1921. Washington Railway and Eie"-
tric General and Refunding SIS sold ~
1922 in q 81 900 transfer.
Considerable comment has heen
heard in the financial district recently
on the strength displayed by loca
bonds Most of these issues are sell
ing above par and the demand is re
ported as highly satisfactory.
Applications Pass 200 Mark.
w. w Spaid. general chairman. has
sent out the last call to the conven.
ton of local ba ankers At Hot Springs
the. information having been pre-
pared by F. H. p. Siddons. chairnar
of the publicity committee. The last
call states in plain language that s'i
applica ations for convention train and
hotel reservations must he in tho
hands of Chairman n. q. Noskinsor
at the Riggs Bank not later than
next Saturday.
Chairman Hoskinsor announce
that undoubtedly there will he an at
tendance of 240 at the convention. the
applications already having reached
total of 201. Chairman John "
Riordon Of the hotel committee Al
ready has arranged for the best ac-
commodatiors that the Hot Springs
resort provides.
Chairman Spaid has called another
meeting for Friday of all the commit
tees making plans for the convention,
when the final reports will be heard
Convention enthusiasm IS now at
high pitch. The program has been
| completed. the outdoor sports are all
arrang as are the social events for
the women.
Record Rentals Expected.
Work on the National Press CluI,
Building. corner F and Fourteenth
streets, is now getting well under
way. The theater on the lower interior
portion of the building Is 10 seat $500
people and is to be leased from the date
| of completion to the Fox Theaters
Corporation for 81 years at an as
gregate rental in excess Of $1,000 .non.
| The street floor will he given over To
| stores. which members Of the Press
| Club expect to bring in the highest
rentals in the history of Washington
real estate. This expectation is based
| on the loca ton in the business dis
| trict.
From the second to the twelfth
| floors and half of the thirteenth floor
| will be divided into office rooms for
| newspaper correspondents and other
| tenants. The remainder Of the thir-
| teenth floor and all of the fourteenth
| will he the future home Of the Ma
tional Press Club. As recently stated.
it is estimated that the entire project
| will cost Sll.000.000.
Three Able Young Bankers.
Announcement of the winners ia
the annual essay contest conducted
BY the local bankers association
aroused keen interest in hte fina ncia!
district. The winners are young mon
who put great deal of time and
thought into their essays. Special in
uuiry shows that they are all talented
young men.
L. T. Savage. winner of first hOnOrS.
joined the staff of the American So
curity and Trust Co. only last year.
He is employed in the real estate de-
partment. He has. of course. been
student in the American Institute Of
Banking or he could not have com
peted In the contest. He was formerly
employed i'm the Congressional Lii
brary, but decided that there was moro
opportunity for a young man in the
banking field.
Frank NJ. Perley, who won second
prize. has been with the American Sc
curity and Trust Co. for nearly six
years. being connected with the SO
curities department. He is graduaie'
of Central High School, graduate sof
the Georgetown Law School and
member OF the District of Columbia
Bar Association. -
Rafael Del G.. Calvo has been en-
ployed by the Liberty National Bank
ever since it became a national bank.
He was formerly with the American
National, which consolidated with the
Federal and became the Federal
Ar,aricop He is now collection teller.