Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-04-01
SAVINGS BANQUET
PLANS COMPLETED
A. B. A. Regional Conference
Affair viii Be Held Here
Next Thursday.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Final arrangements were completed
today for the banquet to be held at
the Willard Thursday evening at Z
o'clock in connection with the regional
savings conference Of the Savings
Bank Division Of the A. B. A. Merle
Thorpe, the chief speaker, will address
the bankers on Prospects of Con.
tinued Commercial and Industrial
Prosperity and It's Effect on Savings"
the editor Of the Nations Business
always has his fingers on the business
pulse Of the country.
w. r. Moorehouse. president OF the
Savings Bank Division, American
Bankers Association, and vice presi-
dent of the Security Trust & Saw
ings Bank. Los Angeles, will preside,
and w. w. Spaid of w. B. Hibbs &
Co. will be POSTMASTER. Fred N.
Shepherd, executive manager, A. Is. A,
will extend greetings to the members
Of the conference from the associa-
ton.
The general arrangement OF the
banquet has been in charge OF Joshua
Evans, jr.. vice president OF the DIS
trict National Bank, and the enter
of Edward J. McQuade, vice president
Of the Liberty National Bank. who has
arranged the following program:
Meyer Goldman Orchestra during
dinner: another orchestra for dancing;
a soprano solo by Miss Helen Howl
son; tenor solo by j. +. NJ. Bowie;
bass solo by Fred East; duet by j. +.
M. Bowie and Fred East; George Will
son accompanying all; Radio Twins
kin Carroll and Erma Calvert) IN
specialties, and songs by George n.
O'Connor. Matt E. Horne accom-
PIANIST. The song leader Will be
Michael D. Schaefer.
Banks Made Brilliant Showing.
An ANALYSIS of the condition OF
Washington banks following the con-
trollers call, as of March 2, 1877,
printed elsewhere in The Star. brings
out the fact that the local banks broke
all previous records for total deposits.
Total deposits on March ~ were
S246 ,785,181.44, an increase OF $1.7S1,'
iii "a over the previous highest rec
ord, which was reported on June 80,
1926. when deposits in Washington
banks reached total of $244 1898, O0?.7o:
This gain has been made in PERIOD
of a little less than nine months.
The figures also show notable
gain since the call of last December,
the exact increase over the report on
that date being $6.857.S96.90. The ma.
tional bank group reported a gain OF
$6,518,983.46, the savings banks an au-
vance of $1,059 ,246.67. while the
trust companies had a decrease VI
$71O,333.23.
When the call was issued last sat
ur.iay. 1t became evident that the ma
iority of local banks would report de-
posit increases. The call OF last De-
Gambler came at a most inopportune
time. because Of heavy Withdrawals
for many different reasons. Todays
compilation, however, reveals A situa-
ton which will be far more gratifying
to the banking fraternity.
Bank Declares Dividend.
At a meeting Of the board Of direc-
tors Of the Anacostia Bank yesterday
afternoon the regular dividend of
per cent was declared. The dividend
in payable today to stock Of record
at the close of business on March 81,
President Maurice Otterback an
nounced.
Dividend Checks Mailed.
Checks covering the initial divi-
dend of SITS per share on the Com
mercial National Co.'S per cent pre-
ferred stock have been mailed to
shareholders of record on March 20.
The Commercial National Co. Is spon.
sored by officers and directors Of the
Commercial National Bank. The
stock was heavily oversubscribed
when recently placed on the market,
and was listed on the Washington
Stock Exchange a short time ago.
Power Bonds Redeemed Today.
In accordance with previous an.
Power Co.'S general and refunding
mortgage per cent bonds were called
for redemption today.
There are a very large number OF
these bonds held by local investors.
the issue being redeemed at los and
accrued interest. Holders of the bonds
should bear in mind that interest
ceases after this date and turn them
in at once. The calling in OF every
big bond issue finds some holders un-
aware Of the fact, who are always
shocked six months later when they
remove coupons for which they find
there is no interest.
Building Committee Named.
At meeting of the directors of the
Farmers & Mechanics Bank yester-
day the following committee was
named to arrange for the erection of
the new branch bank building to be
located In Tenleytown:
G.. L. Nicholson, chairman, who
was also chairman of the committee
during the erection Of the new main
office of the bank at Wisconsin avenue
and NJ street northwest; Robert D.
Weaver. J. McKenney Berry, Ray.
mond j. Wise and Joseph H. Gran.
ford.
Joins Murphy & Co. as Partner.
It was announced at the local office
of G. M. P. Murphy & Co. today that
George Cole Scott. Richmond banker
and railroad director, has become a
special partner In the firm. Mr.. Scott
Is well known in Washington, espe-
cially because Of his connection with
the Chesapeake & Ohio Railroad. He
was the leader Of the minority stock
holders who successfully halted the
original Van Sweringen unification
plans and forced a greatly revised
merger proposal.
Later Mr.. Scott became a director
in the road and approved the purchase
of Pere Marquette and Erie stocks by
the hesapeake & Ohio, the applica-
ton now pending before the Inter
state Commerce Commission. He is a
director in the First National Bank OF
Richmond and other corporations. also
a Princeton graduate.
Local Market Again Active.
Trading was active again today on
the Washington Stock Exchange.
Capital Traction and Washington Gas
Light being the market leaders. Trac-
ton closed at 1864 after turnover
Of So shares. Forty.eight shares OF
Gas stock changed hands, at TAN.
Prices Of other stocks were steady.
Bonds also were firm.
Heard i'm Financial District.
Box office receipts of the theaters