Evening star., 1927-08-19
NEW TAK0MA PARK |
BANK THROWN0PEN.
Bank Stocks Again Feature
Local Market-By-LaWs
Appear in Print.
BY EDWARD C. STONE.


the Takoma Park Savings Bank last
evening, when the officers and direc-
tors were hosts and personally conduct
ed visitors over the handsome quarters,
located at the corner Of Carroll and
Willow avenues, in the popular
washington suburb. Many promi.
nent bankers outside of Takoma Park
were among those enjoying tours of
inspection. The banks personnel as
sisted the officers in receiving the
guests.
The directors built the new home
because of the banks steady growth.
At the close of business yesterday
the institutions deposits totaled
$2.43o.0oo. The bank has $4,000
capitalization and 100000 surplus
The officers Of the thriving institu-
ton include II. F. Taft. president:
David Feldman, first vice president;
II. Brooke Lee, second vice presi-
dent. and w. Preston Gibson, vice
president and cashier.
During the reception favors con-
sisting OF silver pencils were present.
ed TO woman visitors and leather letter
cases were given to the men. The
decorations were very elaborate and
most attractively arranged.
New Constitution Printed.
Members Of he District Bankers
Association were today receiving
copies OF the revised constitution and
bylaws of the association, vital
changes having been made during the
convention at Hot Springs in June.
Each change was voted after a full
discussion Of the points at issue, and
the members Of the association be-
lieve they now have an exceptionally
fine constitution for an organization
Of the kind.
The booklet also includes the names
OF officers Of the association for
1928 and Of the committee in charge
OF revising the bylaws and constitu-
ton. This committee was made up
OF Maurice D. Rosenburg, president
OF the Bank of Commerce and Saw
1ngs. chairman; Howard Moran, vice
president Of the American Security
and Trust Co.; Maurice Otterback,
president of the Bank Of Anacostia;
c. H. Pope, vice president, Munsey
Trust Co., and George o. Watson.
president Of tse> Liberty National
Bank.
In addition to giving list of all
the member banks in the association,
the booklet publishes the names of
all past presidents since its organiza-
ton. Thomas Hyde, first president
in 1901, was followed by F. C. Ste
vens, Charles J. Bell, John H. Moore,
Albion X. Paris, John Joy Edison, C.
F. Norment, w. v. Fox, f. j. Stell-
wagen, w. A. Mearns, George w.
White, Fl. H. Mckee, B. r. Saul,
George E. Fleming, w. r. Galliher,
John Poole, Corcoran Thorn, M. d.
Rosenberg. Robert N. Harper, John
d. Iarner. Joshua Evans, jr.; Harry
V. Haynes, Victor B. Deyber, Francis
G. Addison, jr.; Howard Moran and w.
w. Spaid, the present head.
American Security Stock Jumps.
American Security & Trust stock
again came into the limelight today
in connection with the recent move
in bank shares on the Washington
Stock Exchange. Is shares selling at
440. gain Of 19 points over the
sales made earlier in the week. The
market in the issue closed with 439
bid and $50 asked.
A 10-share sale in Potomac Savings
Bank stock took place at 1926. This
was the first transaction in this stock
since its transfer several weeks ago
from the unlisted department to the
big board"
Washington Gas Light was strong
Is. Federal Storage preferred sold at
101 ". 20 shares of Washington Rail-
way & Electric at 81, while Potomac
Power .54 preferred, now ex.dividend,
opened at 101 q and closed at 1902.
Bonds were firm at the recent levels.
The Friday calling of the unlisted Sc
curities showed the bid price on Cha.
pin.Sacks 8 per cent preferred had ad.
vanced to 100h. The asked price on
Munsey Trust is now 160 and on Ra.
leigh Hotel Co. stock 104.
In and Out OF the Local Banks.
Peter Dorsch. one of the directors in
the Merchants Bank & Trust Co., with
his family, has returned from an ex.
tensive automobile tour in Canada.
Clarence F. Normen, chairman of
the board of directors Of the National
Bank of Washington, has returned
from several weeks passed at Atlantic
City.
Vice President Howard Moran Of the
American Security and Trust Co. con-
tinues to receive hearty congratula-
tions on the arrival Of Howard Moran,
jr. Mr.. Moran and John Poole, head
Of the Federal.American, were recently
heard over the telephone swapping
greetings of the season.
II. T. Burnside, assistant cashier of
the Farmers & Mechanics National
Bank, Is taking a weeks vacation at
Blue Ridge Summit.
G. c. Morgan, manager Of the bond
department Of G. M. P. Murphy & Co.,
will he back at his desk Monday after
spending his vacation on Long Island.
Silver Production Boosted.
The United States produced 5,O67. 900
ounces of fine silver in July. against
4,931 900 in June. Canada's output
was 1,752,000, against 1,614,000. The
last monthly figures available from
Mexico were for May, 1871 900 ounces,
against 7.737.000 in April. Peru put
out 1,513,000 ounces in July. against
100000 in June. and Australia $780,.
900, against 1900.
Increased activity in new business
in the lumber industry for the week
ended August 13 was shown in re.
ports from 4S0 Of the leading mills
Of the country to the National Lum-
ber Manufacturers Association, com.
pared with the week before.
Richmond Ratio Declines.
Bills to the value Of 1890, AGA, 900
were discounted by the IL Federal
Reserve banks during the week end.
ing August II, marking a decline of
$22,612,000 during the course Of the
week, while last weeks total, $413.-
10000, was itself a drop of $32,26S,.
900 from the figure reported two
weeks ago.
Bills bought in the open market by
the IL banks last week were less by
about $5,000,O00 than the previous Pc
riod, the figures for this week and
last being $170,932 900 and $175,707.-
600. respectively, while a total of
SIT 1882 900 was reported for the week
Of August 8.
The total bills discounted by the
Richmond branch increased some