The Washington times., 1928-01-20
SAVINGS B A N K
ELECTS

By RICHARD HATTON


the presidency Of the MT. Yer
non Savings Bank was the sub
ject of much favorable comment
in local financial circles yesterday
where Mr. Woodward has been
known for many years as an exec
utive and banker of exceptional
ability. He has been executive
vice president Of the Mt. Vernon
for the past year and az president
he will continue as the principal
executive officer in charge of the
institution. Mr.. Woodward's cleo,
ton followed the resignation OF
William Muehleisen who had been
president since the organization Of
the bank in 1920. For some time
Muel1leisen had desired to retire
to devote his time to his personal
affairs but had been prevailed
upon from time to time to defer
this action. Mr.. Muehleisen will re-
tain his interest as . stakeholder
and a member of the board OF di-
rectors.
A. G. Wharton, president Of the
International Association of Ma.
chinists and member Of the board
OF the bank for several years. was
elected as vice president.
Frank w. Lee. who has been as
sistant cashier, was elected vice
president, and Robert T. Highfield.
who has been assistant cashier
since September /, 1920, was elected
cashier. A. Mistretta, who has been
connected with the bank several
years in charge of its foreign ex.
change department, was made az.
sistant cashier. These promotions
were unanimously voted.
The official roster OF the bank Is
now r. Golden Donaldson, chairman
OF the board; Claude II. woodward,
president; A. o. Wharton, Emmett
g. Dawson, William III. Johnston
and Frank w. Lee, vice presidents;
Robert T. Highfield, cashier; Leo e.
Madigan, comptroller; T. Edwin Nor
ris and A. Mistretta, assistant
cashiers, and Hayden Johnson, coun-
sci.
The Annual Meeting
The board Of directors elected at
the annual meeting Of the stock
holders, are: James Il. Baden, AL
bert ]. Berries, G. NJ. Bugniazet, +.
&C. Dawson, r. Golden Donaldson,
Charles p. Ford, Harry w. Hahn.
Fred Hewitt. Hayden johnson, Will
liam H. Johnston, DR.. e. r. Koss,
Henry c. Moses, William Muehlei-
sen, H. Glenn Phelps, B. L. Rine-
hart, H. 8. walcott, Arthur o..
Wharton, Claude II. woodward, O,
r. zantzinger, Leo e. Madlgan,
Robert T. Highfield and Frank w.
Lee.
Several changes have taken place
in the personnel OF the Washing.
ton Clearing House Association as
result of the annual meeting al
though Harry w. Haynes, president
of the Farmers and Mechanics Ma
t1onal Bank, remains chairman, hav.
Ing been reelected for the fifth con.
secutive term, and Victor 3. Dey.
Der, president of the Second National
Bank, was again elected secretary.
H. III. Mckee, president OF the
National Capital Bank, becomes a
member of the committee succeed
INK w d. w 6htIs NRIG BKCDAAEAIb "a
the Federal-American National Bank.
and G. p. Jacobsen, cashier of the
National Metropolitan, succeeded
George w. White. president Of the
same institution. w. J. Father,
and John Poole, president Federal
elected while c. E. Bright, who has
= ne &AA m~mAAfa fiAv1 for
several years. was reappointed to
that office.
Investment in Cuba
Investment OF United States CAPT
tai in Cuba, which dates back to the
beginning of the country's political
independence and which has re-
Gently been stimulated by the grow
| ing Importance OF the island as an
international tourist resort, has
passed the billion and half mark
and is steadily growing, according
/ to cabled reports from the Cuban
/ Chamber Of Commerce received here
| yesterday. The aggregate OF 81,
| sos, 900, 900 is more than the United
| States investment in any other
Latin.American country and repre-
sentg 30 per cent of the total for
eign investment in Cuba at the pres
ent time.
| Last month two new records were
established in the amounts of new
investment offerings, the largest for
any December, and the greatest
total Of public utility loans for any
one month.
| The months, sum amounted to
| $799, 476, $40 and compared with the
total in December, 1925, of $5SS,22S,.
$50, according to the compilation OF
Lawrence Stern and Company, Chi
cago investment bankers. The pub
| lie utility's record-breaking total
reached 1926, 900, and brought
the years offerings in that class to
the tremendous figure Of $2,109,66l,
| 100. q gain of about so per cent over