Evening star., 1927-02-15

common and preferred are selling ex-
dividend.
Convention Committee Meets.
Chairman Lanier p. McLachlen and
the members of the general conven-
ton committee which is arranging for
the annual meeting of the District
Bankers Association at Hot Springs
in June, held its first meeting yester-
day at the r street headquarters.
This is much earlier than the plans
have ever before been started.
Chairman McLachlen has set q goal
of 900 for this years convention Last
year about 225 journeyed to the Vir-
ginia resort. An effort will be made
to get more bank directors to attend
the sessions. The members Of the
general committee also believe that
officials connected with some of the
large corporations here, who have
extensive dealings with the banks,
would profit by the Hot Springs trip.
The committee plans to stress the
fact that the convention is far more
than an outing. The program will
include topics of vital interest, not
only to all the banks, but to business
leaders in the city.
New Step i'm Dutch Market Case.
President Robert V. Fleming of the
Riggs National Bank. who is chair
man of the creditors reorganization
committee OF the Old Dutch Market
Co, has sent letters to all creditors
asking them to assign their claims to
the committee. The other members
of the committee are Michael A.
Of the National Bank of Washington;
nhY iY. No ndwon
j. N. Freedman, John Dolph and
Abraham Lehman. 1t will be noted
that in addition to the two bankers,
the committee includes men very
prominent in the market district.
The assignment of creditors claims
to a committee is the usual procedure
in such cases. AS soon as this has
been received and the remaining
$4,000 in preferred stock subscribed,
the receivers will act to turn the
market company over to a new firm,
which will continue the business.
Bank to Increase Capital.
The Second National Bank is plan
ming to increase it's capital from $780,
600 to $3.50, 900. Under the proposed
plan the shareholders have the privi-
lege of subscribing for the additional
capital stock at SITS a share, in the
proportion of one share for each two
shares now held. Any stock not taken
will be disposed of by the directors at
or in excess of SITS per share. The
banks steady growth has led the di-
rectors to believe that the capitaliZa-
tion should be increased and the stock
holders will be asked to approve the
plan at a meeting to be held on
March IS.
Officers of the bank are Samuel J.
Prescott, chairman of the board; Vic
tor E. Deyber. president; John c. Eek
loft, Jacob Scharf and Walter II.
Klopfer. vice presidents; Alexander
Wolf. trust officer; w. w. NARROW.
cashier; M. d. Esch and J. X. Seyboth,
assistant cashiers. The senior officers
and the following comprise the board
Of directors: Edward F. Colladay. Fred
Drew, George NJ. Emmerich, William
M. Hannay. Frank S. Hight, John w.
Hulse, Frederick w. Mackenzie. A.
Fl. Plugge, Cuno HI. Rudolph. e. j.
Sacks, A. J. Somerville, William Fl.
Walker, w. r. Winslow and Frank
M. Low.
Simmons Eere Tomorrow.
President E. Fl. Fl. Simmons of the
New York Stock Exchange is expected
to arrive in this city tomorrow pre-
paratory to making speech here
Thursday night. He has many friends
in the Capital and his visit here is
awaited with unusual interest.
B. & o. Net Shows Large Gain.
The preliminary report of the Bal.
timore and Ohio Railroad for 1926
shows net income of $28,494. .294, equal
after per cent preferred dividends to
$1720 a share on the common stock.
This compares with $20,793,50S in 1925,
or S12.14 share on the common. Sur
plus was $17.023,041, against 0,841 ).
I'll the year before.
Off to Mergenthaler Meeting.
Edward J. McQuade has gone to
New York to attend meeting of the
Mergenthaler Linotype directors. Much
interest is always manifested in these
meetings, as the stock is so widely
held here and so active on the local
exchange. 1t is generally understood
that the company's earnings during
the past quarter have been highly ia
yorable.
Will Open New York Office.
Edward NJ. Tyler, head of the ac.
counting firm by that name, which
has offices in the Metropolitan Bank
building in this city. announces the
opening of a New York Office at 80
Broadway. He will be with Barthol
omew c. Kelleher, an Empire State
certified public accountant.
Again Heads Insurance Company.
w. A. II. Church has been reelected
president of the Mutual Fire Insur.
ance for the eleventh consecutive time.
Mr.. Church has been associated with
the local company 80 years, during
all OF which time he has been a di.
rector. l.. Pierce Boteler, who was re.
elected secretary, enters upon his
twenty-ninth year in that capacity
and his thirty-frst year with the com.
pany. Other officers elected were c.
Kattelmann, treasurer; Franklin Bar
rett, assessor, and William Fred Mac
Gill, assistant secretary.
Officers to be Guests
Richard w. Hill. national secretary
If the American Institute of Banking
will be a guest of honor of Washington
chapter at the silver jubilee banquet
which will be held on Saturday night
at the Willard Hotel. Paul B. Det'
weller, national president. will be un.
able to attend due to illness.