Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-01-21

reason for the present action, which
was contemplated at the time of or
ganization.
Rights of stockholders to subscribe
for the new issue expire on February
1, after which all shares not sub
scribed for win be offered to the pub.
lie. Application will be made to list
the stock on the Washington EX-
change. The Commercial National
Co. was first known as the CONNER
cial National Securities Co. but this
was found to be too long and was
shortened by charter amendment.
Local DESIGNATING Declines.
Member bank borrowing in the local
Fifth Federal Reserve district con-
tinued at an exceptionally low level
during the week ended January 10.
Rediscounts at the Richmond Bank
totaled $21 ,09600O, against $34, 666,O00
at the same time q year ago.
AS a result chiefly of a $5,O0O,000
drop in gold holdings, the ratio was
about per cent below the previous
week at 1886. but was above last
year, when it stood at 1925 per cent.
Departmental Bank Officers.
At meeting of the board Of di.
rectors of the Departmental Bank the
following officers were reelected for
the coming year: j. r. Exnicios, pres
ident; Marshall o. Exnicios, vice pres
ident: f. w. Libbey, vice president;
Clyde Reed. vice president; Louis A.
Rosafy, secretary, and John L. Cope
Ian, assistant cashier.
SchiavOne Again President.
At the first meeting of the newly
elected board of directors of the Inter-
national Exchange Bank held yester-
day. the following officers We're elect
ed: President, Joseph Schiavone; vice
president and counsellor, Francis L.
Neubeck; cashier, Frank J. Kauf-
mann, jr.: assistant cashier, Miss Julia
Kraus.
Securities Corporation Elects.
The annual report of the Securities
Corporation of the District of CO.
lumbia showed total resources of ST.
041,S16 on December 81, 1926, as
against 1851, 297 on the corresponding
date in 1925. After deducting for
taxes. a profit of $41,767 was shown
for the year, and with dividend pay
ments totaling $29, 532, the year ended
with a surplus of $39,1S4.
The following directors were re-
elected; Francis G. Addison, jr.; Ed
ward c. Baltz, Diller F. Croft, John
B. Harrell Sol Herzog, William A.
Hill, George III. Judd, Arthur ID.
Marks, Fred Mckee, Laurence Mills,
Julius /. Peyser, Sidney w. Straus
and William c.. Sullivan.
Mount Vernon Bank Officers.
The directors of the Mount Vernon
Savings Bank have elected these Of
ficers for the coming year: r. Golden
Donaldson, chairman of the board;
William Muehleisen, president; Will.
liam II. Johnston and e. c. Dawson.
vice presidents; William r. Baum,s
vice president and cashier; Robert T.
Highfield. Frank w. Lee and T. Ed
win Norris, assistant cashiers; L. NJ.
Madigan, controller, and Hayden John
son, counsel.
Chevy Chase Bank Elects.
The directors of the Chevy Chase
Savings Bank have elected the follow
ing officers: Frederick L. Earring
ton, president; Thomas w. Perry and
Joseph A. Burkhart, vice presidents;
Horace e. Trotch, jr., vice president
and cashier; Paul Sleman, counsel,
and Clyde D. Garrett, secretary of
the board.
Federal Storage Officers.
The directors of the Federal Stor.
age Co. have elected these officers for
the year: e. K. Morris, president;
Robert B. Hall, vice president ard
general manager; Harold Il. Marsh,
vice president and counsel; James M,
Johnston, secretary.treasurer; S. Web
ster Adams, superintendent; Henry
E. Hall, assistant manager, and T..
billiard Macomber, assistant secre-
tary-treasurer.
Insurance Company Trustees.
At the annual meeting of the stock
holders of the Home Plate Glass In
surance Co. Of Washington, held yes
terday, the following trustees were
elected for the ensuing year: Byron
S. Adams, H. H. Bergman, Charles
r. Brown, Albert j. Gore, Charles E.
Hood, John B. Larner and William II.
Somervell. The board subsequently
organized, naming the following Off
GERS: John B. Larner president and
attorney; Byron S. Adams, vice presi-
dent, and William II. Somervel, Sec
retary-treasurer.
Safe Investments Stressed.
This is Safe Investment and Make
Will day in the Thrift week pro-
gram, Y. e. Booker being chairman
of the. subcommittee. 1t was featured
by posters in banks and Government
buildings and in many other business
offices. FirSt-class speakers will con-
tinue to spread the thrift gospel again
this evening.
day and Sunday share with Others"
Trading Broad on Exchange.
Trading was very broad in both
bonds and stocks today. Capital Trac-
ton sold at 103B and closed at 103A.
Thirty-f1ve shares of Riggs Bank stock
changed hands at 465. Merchants
Bank and Trust came out at 1905.
Federal-American Co. common sold at
a new high. 1915. Mergenthaler reg
istered ITO and Lanston "a. Ten
shares of Merchants Transfer and
Storage sold at 11412.
The newly listed Gas 6s, series B,
were out again, selling at 103% Po-
tomac Electric Is changed hands at
106 and Railway and Electric general
6s at 1882. Georgetown Gas SIS sold
at 98A.
TOday's Financial Notes.
Latest reports are that the banks
of the country have already extended
1900 loans on bonus certificates.
The Northeast Building Association
opened it's new home at 2012 Rhode
Island avenue northwest last evening
amid great enthusiasm.
Francis G.. Addison, jr., addressed
700 students at the MacFarlane Junior
High Schooi sestordnv on Thrift"