Evening star., 1926-12-09

company has recently started the
plan of developing out-of-town busi-
ness. Mr.. Bell making F. H. p. Sid
dons his assistant in this work.
Washington's gaining prestige as
financial center is a vital reason for
this entry into the outside field.
When the bank started 1t had a
capital of $1,250,000 which was in
creased until it reached $3,400,OO0 in
1919 at the time of the merger with
the Home Savings Bank The com
bined capital, surplus and undivided
profits today are well above $6,S00,-
600, and the total resources of the
main office and the four other banking
offices in the city are more than $685.
100000 For the past five years the
company has paid II per cent divi-
dends with per cent extra each year
In addition to President Bell, sew
eral other officers have served the
company more than Is years, among
them being Corcoran Thorn, B. f..
Saul, Howard Moran, vice presidents;
Charles Z. Howe, treasurer; David N.
Houston, T. Stanley Holland, Arthur
G. Nichols, assistant trust officers,
and w. w. Keck and James G. Dulin,
jr., assistant treasurers.
Bonds and stocks were in about
equal demand on the Washington
Stock Exchange today. Capital Trac-
ton led the stock trading, opening at
104A and later advancing to 104B on
32-share turnover. Potomac Elec-
trio Power preferred came out at
107A, Lanston sold at 921a, while
Mergenthaler recorded the sale of one
share at 105 *.
Potomac Electric Consolidated SIS
opened the bond market, selling at
rI,.- Ee, D,rf
at 1001s, and the same company's is
sold at 1929. The bond division closed
with Georgetown Gas 5s selling at
9SA on $500 turnover.
The marked increase in activity on
the local exchange recently has caused
considerable comment among the
members. Steady growth in the
amount of business transacted, as
we'll as a broadening of the impor-
tance of the exchange, are now being
predicted for the coming year.
Company Advances Officers.
j. H. Edwards, jr, formerly an as.
sistant national bank examiner, has
been made treasurer of the F. H.
Smith Co.; John S. Farquhar has been
elected assistant secretary, as have
Paul j. Dundon and Bernard F. Vieh-
mann. Lewis E. Thomas has taken
Mr.. Edwards place as assistant treas
urer. The changes make the official
staff of the company as follows:
G. Bryan Pitts, chairman of the
board; Samuel J.. Henry, president; c.
Elbert Anadale, vice president and Sec
retary; ]. Fl. Edwards, jr.,. treasurer;
w. p. Wilson, organization manager;
John S. Farquhar Paul L. Dundon
and Bernard F. Viehmann, assistant
secretaries, and Gerald r. Trimble
and Lewis e. Thomas, assistant treas
urers.
"Visitors' week" at the local Insti
tute of Banking is proving very popu-
lar and many of the other bankers
in the city have been visiting the vari-
Gus classes and hearing the lectures
by the instructors. The high charac-
ter Of the work has made a strong
impression on all the visitors.
Dollars and Sense, official publica-
ton Of Washington Chapter, Ameri-
can Institute of Banking, has sud
denly jumped into national fame. The
first article in the latest issue was
on "A Sound Banking System" 1t
appeared under Secretary Melons
name and SO important did the Asso-
ciated Press consider the opinions ex-
pressed that his views were wired all
over the country, due credit being
given TO the local publ1catlOn.
Mrs. Maggie l.. Walker, for 10 years
at the head Of the st. Luke Savings
Bank and Trust Co. of Richmond, ad-
dressed colored citizens last night at
the Vermont Avenue Baptist Church
on development of business interests
of the community. She is the only col
ored woman at the head of a banking
institution in America.
Southern Diaries, Inc, reports gross
sales for November of $777,245, com
pared with $601,476 during the same
month of 1925, an increase of 25 per
cent.