Evening star., 1926-08-09
MILLION DEPOSITS
GOAL IS REACHED
International Exchange Bank
Ends Big Drive-0ther
Financial Notes.
BY EDWARD G. STONE.


Our s1ooo.ooo goal has been
reached-thanks to all.''
This was the announcement over
the entrance today to the Interna
tional Exchange Bank at Fifth and "
streets. the drive for million In de-
posits having come to an end when
the bank closed Saturday.
President Joseph Schiavone's face
was wreathed in smiles when he re
ported that the exact figure reached In
the campaign had mounted up TO
$1,O05 .O7554
THE drive took less than a month.
he said. the deposits being increased
from $725.000. When the hank
opened In August. 1921. deposits were
$47.7SS.65. The cooperation of tho
banks officials, directors. depositors
and of many bankers all over the City
was splendid and I am very grateful
for il" Mr.. Schiavone added.
Bank Keeps Open House.
The bank kept open house Saturday
and scores of the city's best known
bankers and business men called 10
extend congratulations. Among the
visitors were Howard Moran, presi
dent Of the District Bankers Associa
ton, and Harry V. Haynes. president
of the Washington Clearing House
Association. The bank was especially
decorated for the occasion with flag.
ferns and many cut flowers. present
ing a most attractive appearance.
The event added a very important
chapter to this banks short but pr"
gressive history. In addition to th"
regular depoSitOrs, many visitors ais"
dropped in again today To felicitate
the officials.
Fifth Anniversary Celebrated.
Yesterday officers directors and
stockholders of the bank were joined
by about 800 Washington residents
of Italian extraction in celebrating the
banks fifth anniversary. a picnic anI
outing taking place at Villa Romd
on the Rockville pike. The party
started from the bank and there Were
some 200 automobiles in line. Judge
Mary O'Toole made the chief address
of the day. praisins the Italians ~
Washington and calling attention 1"
what can be done by united grour
effort as shown by the result OF tn
banks campaign.
Other speakers were Michael
MuSSumano of pittsburgh. Peter
Radice. S. NJ. G. Strizzi and President
Schiavone. The committee from the
bank having the campaign and the
annual outing in charge included
Peter Radice. chairman; l.. Nallarlo.
A. Tana, r. Collela. :. NJ. G.. Stri1zt,
u. Bianchi. K. Del Tufo. Joseph OF
ano. T.. Colaprico and u. CDlacicco.
Exchange Trading Very Light.
Capital Traction stock was the only
issue traded in on the local stock eX
change today. The stock opened at
1885, on two transfers of 10-share
lots and closed at 103a4 on four sales
which totaled but IA shares.
The exchange session was held at
1915 instead of Ills in order that
the members might attend the fu
neral of John L. Edwards. the late
president. Following the action taken
last Friday e. J. Gockeler, l.. \.
Slaughter and G. e. Glover. Jr.. rep
resented the exchange at the funeral
services.
Many OF the financial district 8
leading bankers took the opportunity
to pay tribute to their loyal, beloved
and brilliant associate.
More Bankers Take Vacations.
George A. Harris. president of the
| Potomac Joint Stock Land Bank, and
Mrs. Harris have left Washington
| for a three or four weeks vacation
| which they will pass in New England
They will spend much of their time
at Dixville Notch. in New Hampshire.
Irving Zirpel. secretary of the
| Union Trust Co. has returned from
his annual vacation, much of which
was passed on L. J. Stellwagen' s
! farm.
| Charles B. Lyddane. vice president
| of the Federal-American National
| Bank, Is passing three weeks vaca
| tiOn at Eagles Mere Pa.
p. j. Mcmahon. assistant treasurer
| of the Munsey Trust Co., is spending
/ three weeks at Atlantic City.
Charles T.. Howe. cashier Of the
American Security and Trust Co, has
| started on his vacation, which he will
| spend at his old home in Pennsyl
vania. He will he away three weeks.
| B. Gwynn Dent. assistant cashier
| of the Riggs National Bank. Is spend
| ing his vacation at Orkney Springs,
| Va.
Other Financial Notes.
| The Baltimore and Ohio train con
nection motor coaches. which will he
put in service in New York City. Au-
! gust % between the Jersey city Ter
minal and the company's two new
stations at Pershing Square and the
Waldorf Hotel. will be operated by
the Fifth Avenue Coach Co. Arrange
ments were made with that company
because OF its long and successful ex
perience in this character OF trans
portation.
Judge Beverley T. Crump. in Law
and Equity Court at Richmond. is
expected to hand down decision about
August Is, I'm suit os Arthur Lyman
and other preferred stockholders OF
Southern Railway Co. against the
company, in which plaintiffs ask ar
equal division with common stock
holders of dividends in excess of .