Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-04-02
I'm. R|ORDON GETS
BANK PROMOTION
Becomes Vice President of
Commerce & Savings.
OWings Also Advanced.
BY EDWARD C. STONE.

BY EDWARD c. STONE.
John M. Riordon, cashier of the
Bank of Commerce & Savings since
it's organization in 1907, was elected
executive vice president of the institu-
tion at a meeting OF the directors held
late yesterday, President Maurice D..
Rosenberg announced today. The
vacancy at the cashiers desk was
filled by promotion of the assistant
cashier, Frank Owings. whose former
position has in turn been assigned to
oliver Exline. the banks note teller
for some years.
The three promotions are so well
merited that the bankers will receive
hearty congratulations from host OF
friends both in and out of the ba.sx.
Mr.. Riordon began his banking career
as a messenger before the days when
the messengers could meet daily at
the clearings house and adjust all the
check payments in one place. This
was also before the advent Of auto
mobiles, visits to so many different
banks being far more difficult than
they would be now. AS young man
MIR. Riordon advanced steadily until
he was assigned to a cashiers berth.
From that day to this he has been
unusually successful with the affairs
of the Bank of Commerce 4 Savings.
The new executive vice president has
also found time to play leading part
in the doings of the District Bank
ers' Association, having served on
nearly all of the most important COM
mitteeS.
Mr. Owings, the new cashier, also
has an enviable record as banker.
He has been with this bank as as
tCt1 r1f g I M
no introduction to local financial
circles or to the patrons of the bank.
The three promotions come through
the action of the directors in creating
the position of executive vice presi
dent, an office required by the bank S
steady growth Incidentally, it is
worthy of note that the action closely
follows completion Of the alterations
which converted the bank into one of
exceptional beauty and convenience.
Oregon Trail Coins ON Sale.
Following the visit of Ezra Meeker
president of the Oregon Trail Associa
ton, to the Riggs Bank, the Oregon
Memorial Trail half-dollars have beer
placed on sale. The money derived
from the sale of these coins all over
the country Is to be used In marking
permanently the famous trail blazed
by Meeker and others in the old from
tier days. The new coins, which were
authorized by an act of Congress, are
most attractive. On one side Is one
of the ox-drawn prairie schooners
slowly making it's way across tho
plains toward the setting sun. On tbs
opposite side is thes figure of an In
dian warrior, which wildly repre-
sents the greatest stumbling block
the trail-blazers had to overcome.
Richmond Ratio at New Top.
The Richmond ratio made a new
top this week at 5000, compared with
1898 the week before and ratio of
1873 for the reserve system as a whole.
Discounts in the local fifth district
continued at exceptionally low levels.
They totaled $20,113,000 at the close
of business March &c. compared with
S20.104.000 the week before.
Check Payments Improve.
AS measured by check payments, the
dollar volume Of trade during the
fourth week of March. although
smaller than in the preceding week,
was substantially greater than in the
same week Of 1926, according to the
weekly statement of the Department
of Commerce.
Although wholesale prices strength.
ened as compared with the previous
week, they were still substantially
below year ago. Loans and dis
counts of Federal Reserve member
banks receded from the previous
week. but We're larger than year ago.
Investment Firm So Years Old.
The firm of Swartzell, Rheem &
Hensey, mortgage bankers, celebrated
their fifty-eighth anniversary yester-
day. The company, located at 727
Fifteenth street northwest, has made
an enviable record in the financial
field in its more than half a century
of existance and the officers received
scores Of congratulations from bust
ness men yesterday and this morning
on the firms splendid record. These
bankers were among the first fin.
anciers in this city to make 1t possible
for small investors to start saving by
putting small sums into high-class
mortgage bonds.
sonnet of SwartZell, Rheem & Hensey
Co. today are: l.. A. SwartZell, presi-
dent; Edmund d. Rheem, first vice
president; j. Newton Brewer. second
vice president John H. Holmead, treas
urer. and George f. Hunt. SECRETARY.
500 Shippers Expected Here.
1t is now expected that 500 mem
bers will attend the sessions next
Tuesday at the Willard of the Atlantic
States Shippers Regional Advisory
Board. The business outlook for the
next 30 days is to be given special
attention. The sessions are open to
the public. AS previously announced.
Secretary Hoover Is to be the luncheon
speaker, this affair to be held in the
large ballroom. The executive com
mittee will hold n special meeting on
Monday The local arrangements
have been made by:
III. e. Stringer, chairman; s. Ander.
son, Charles j. Brand, Frank Carna-
han, Ira c. Cochran. w. w. Everett.
Pyke Johnson William Leetch, F. w
Noxon, Claude w. Owen. j. l. Tierney,
Nathan Williams and Harold r.
Young.
Lower Farm Incomes Forecast.
Cash income of the farmers of the
United States for the current crop
year will be about SO, $50 900, 000-S750,
000.00 less than during 1885. The
Brookmire Economic Service. esti
mates in a farm income bulletin. The
| reduction is due almost entirely to the
severe drop in cotton, grain and fruit
prices. This is the first year since
| the 1921 depression that gross farm
| income has not increased. With domes
| tic demand unchanged and increased
| production of food products in deficit
| countries probable. low prices will
| probably prevail during the coming