Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-01-26

health. Mr.. Mitchell has shown
steady improvement since he returned
to his position at the bank after
long illness, and President Frank }
Stryker believes that complete rest
1t this time in mild Southern eli
mate will restore him to full vigor
The banker has been connected with
the Columbia National for the past 30
years, and has made a splendid record
in his profession He was reelected
cashier at the annual meeting of the
directors held only few days ago
Vass on Convention Committee.
Chairman Lanier p McLachlen of
the general committee to arrange Tor
the annual convention of the District
Bankers Association. has appointed
George O. Vass, vice president and
cashier of the Riggs National Bank,
vice chairman of this committee. Mr.
Vass is an enthusiastic member of the
bankers association and has already
served on many other important com
mittees The yearly gathering takes
place in June, the exact time and
place to be decided later.
Maryland Banks Have Big Year.
Resources of the las State banks
y
Guiding their branches, totaled $433
687 OBS at the end of 1926, according
to an abstract prepared by George w
Page, State bank commissioner. This
was an increase of $8.656,8S7 in year
Deposits increased $5,472, 1923, com
pared with December 81, 1925. Notes
and bills rediscounted declined $1,068,
052, bills payable declined $1,060,28E
and mortgages and judgments OF
record increased s2,990.777
The IS mutual savings banks showed
| resources of $179, 725,539. gain OF
50 ,024, $50 in n year. The amount due
depositors increased $8,179,061 anc
| mortgage holdings were augmented tC
the extent of $8610,796.
! n. and w. Raises Dividend Rate.
Declaration yesterday of quarterly
| dividend of 50 a share on the common
stock of the Norfolk and Western Rail
road places that issue on regular an
nual basis of So a share instead of 81
as previously The company, however
| had been paying extra dividends occa
! sionally. Net earnings for 1926 were
| $36, 1895, TAP. breaking all previous
/ &c lords.
The road earned 1854 a share or
| it's $139,572, 700 common stock, in con
trast to $18.67 share on $137,319, 00(
| in 1925 Net earnings in December
were So, 227 ,069 gain of $760.000 over
December, 1925.
Local bankers report that while
Thrift week officially ended Sunday
there is still q substantial demand
for the budget books. The idea OF
greater family economy seems to have
made real impression on host OF
Washingtonians. This phase of Thrift
week is easier to gauge than is the
urge to start bank accounts, make
safer investments, take out life in
surance and buy homes
There has been considerable discus
sion among bankers as to the best
| dates for Thrift week. Several lead
ers in the bank fraternity here say
that the special campaign should be
conducted late in November: in other
words before the wild orgy of Christ
mas spending that takes place all over
the country. They say that under the
present plan most of the people the
drive hopes to benefit have already
spent all their money, leaving the
Pay Bills Promptly day" as the most
timely. Any attempt to change the
date next year will, however, be
strongly opposed by the merchants.
Ward Heads Finance Company.
| w Nj. Ward was reelected presi.
dent of the Union Finance Co. al
| the annual meeting late yesterday.
William Brayshaw is vice president
| G A. Hurst secretary and A. M.
Roth treasurer. The directors are
| Lee b. Latimer, William Brayshaw
| Francis w. Hill, jr.; Selton Darr,
! Clarence A. Hurst. w. NJ. Ward. l..
| Morgan Johnson, James M. Place,
J NiKsf aryl1 A nt ma ~
/ Ward reported that the company now
| has paid-n capital of over $500, 200
and that it added $4,000 to surplus
during the year.
Committee Plans Banquet.
Joseph d. Yerkes held a committee
meeting last evening to push prep
| arat1ons for the Institutes annual
banquet, which takes place in Feb
ruary. The committee has now be
gun in earnest to prepare for this
event Assisting Chairman Yerkes are
/; Vice Chairman [. j Roberts, Riggs
! National Bank; Miss Dorothy Col
burn, Washington Loan & Trust
| Co, secretary: James A. Soper. Lin
! coin National Bank. treasurer; pub
licity, Elmer O'Hara, Seventh Street
Savings Bank; entertainment. Alfred
| w. Sherman American Security &
! Trust Co.; decoration, George Irelan
Riggs National Bank; seating. F. Fl
| Cox, Commercial National Bank
menu, r Jesse CLANCY, Commercial
National Bank.
Other Financial Notes.
Surplus of the Virginian Railway
| for 1926 rose to $6,717. 047, equal after
preferred dividends to SIGH a share
| on the common, from $3,859,777 in
| 1926, or $6.98 a share.
/ The Commercial National News for
| January. has appeared. 1t announces
| that 20 employees of the bank took
| courses at the institute during the
first semester, standing next to the
| American Security and Trust Co.
which had "a. The editor is r. Jesse
CLANCY and he has IL enthusiastic
associates to dash off the news
The January meeting of the Sc.
curity Club of the American Security
and Trust Co. was held last night at
the Grace Dodge Hotel. During the
program f. M. Perley presided and
| Hans w. Irelan, assistant treasurer
of the trust company, made a brief
| talk. musical program and a dance
followed the meeting.
TakOma Bank Elects Officers.
| Directors of the Citizens Bank of
| Takoma Park met yesterday for the
purpose of organizing for the year
and reelected the following officers
Luther S. Cannon, president; Arthur
| l. Haislip, vice president, and George
l.. Wallace. cashier.