Evening star., 1927-05-14
WOODWARD GAINS
BANK BOARD POST
Joins Official Family of Mount
Vernon Savings In
stitution.
BY EDWARD C. STONE.

BY EDWARD G. STONE.
At meeting of the board of di
rectors of the Mount Vernon Savings
Bank yesterday Claude II. Woodward,
FOR many years connected with btisi-
ness concerns and banks in Washing
ton, was elected executive vice presi-
dent and member of the board. For
l6 wears he was with the Globe Wer-
njcke Co., for 10 years as manager OF
the office in this city. President Ii.
q. Yeiser asked him to take the man
arement of the three stores in New
York, Mr.. Woodward did so and was
affiliated in that capacity from June
:. 1924. until March 81. 1926, at which
time the company sold its retail stores
to the Rand Kardex Bureau. Inc. lie
was then designated as manager OF
the Globe .Wernfcke division ana con-
tinued as such until the Fail OF 1870,
when selected as director of service.
Mr.. Woodward has been prominent
In fraternal orders and in soclai ana
business clubs of Washington. lie
was president of the KiwanIs CluD IN
1921. is a past master Of Dawson
Lodge. +. A. A. M, and belongs to Co
lumbia Chapter, Royal Arch Masons'
Washington Commandery, knlghts
Templar, and Almas Temple, Snflne'
and was grand chancellor OF the
knights of Pythias in 1908. lie is
member Of the Columbia Country Club
and an honorary vestryman of st. Co
l1mbas' Episcopal Church. AZ the
time he left Washington in 1924 he
was vice president Of the City Ciub,
member of the Board Of Trade. Chani-
her of Commerce and chairman OF the
board Of trustees of the Better BusI-
ness Bureau and a director OF the
Second National Bank and of the Bank
of Bethesda.
On account of it's rapid growth since
It's organization in 1920, the Mount
Vernon Savings Bank has been plan
ming for some time to enlarge Its oin.
cial family. The present roster OF the
bank is: r. Golden Donaldson, chair
man of board; William Muehleisen.
president; Claude II. Woodward, exc
cutive vice PRESIDENT william II.
Johnston, vice president; +. c. Davi-
son, vice president: William f.. Baum,
vice president and cashier; Leo T..
Madigan, controller; Robert T. High
field Frank w. Lee and L. Edwin
Norris, assistant cashiers.
Poole Elected Association Head.
President John Poole of the Federal
American National Bank was yester-
day elected general chairman of the
Stockholders Association of the Fed
eral Reserve Bank of Richmond at
the session held in the Virginia cap
ital. Mr.. Poole was not present at
the annual meeting and Washington
bankers hastened to wire notice OF
his election together with congratula-
tions. The position is an important
one. as the stockholders association in
ciudes members in % cities in Mary
land. Virginia, West Virginia, North
Carolina and South Carolina. Wash
ington takes prominent part in the
organization. Among the local bank
ers attending yesterdays session We're:
Victor B. Deyber, president Second
National Bank, chairman of the ad-
visory committee; Robert V. Fleming,
president Riggs National Bank; Harry
". Haynes, president Farmers
Mechanics National Bank; Hilleary
l.. Offutt, jr., vice president District
National Bank; Floyd Il. Davis, presi-
dent Lincoln National Bank: A.. M.
Nevius, vice president Riggs National
Bank; III. H. Mckee, president Ma
tional Capital Bank; f. III. Cox and
Walter J.. Harrison, assistant cashiers
Commercial National Bank; ]. Frank
White, cashier National Bank of
Washington; w. j. Waller, vice presi-
dent Federal-American National Bank.
and Edwin G.. Graham, director of the
Richmond Bank.
Banks Arrange Early Closing.
Georgetown's two banks--the Farm
e. & Mechanics and the Potomac
Cos Sfix hax a. NC nd fnts
closing during the Summer months.
The banks have been opening at $3.50
and closing~Sat 4 O'Clock, except on
certain Government pay days and on
Saturday evenings.
They have now agreed for the four
months of June, July, August and
September to open at $50 and close
a 8 o'clock in order to let their em-
ployes get out an hour earlier during
the Summer months. Furthermore,
they will not open on Saturday nights,
but will remain open on two Govern
ment pay days each month until $3.50.
Both bank presidents - Messrs.
Haynes and Offutt--and their direc.
tors are enthusiastic over the idea.
Many Georgetown business men, as
well as q host of other patrons, have
told officials that they will be glad
and are sure the change will make no
difference in the total amount OF busl-
ness transacted.
Gas Stock Ali0tments Announced.
Letters arriving in the morning mail
today told the 1857 subscribers to the
Potomac Electric Power Co.'s new is
sue of s., 900, 900 51a per cent preferred
stock how much they would receive.
Those asking for l to 5 shares viii
get the full amount. from 6 to 20 Will
have 5. The largest amount allotted
to anybody will be 200 shares.
AS there are but $4,000 shares avail
able for allotment and the total sub
scriptions of 3,262, 900 called for 132,-
62S shares, it will be seen that there
had to be some sharp scaling down
in the amounts allotted the larger
subscribers. President William r.
Ham announced today that the new
stock would be distributed according
to the following plan:
No of shares
allotted
Share erollp each group.
m IN