Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-13

the coming year. N#s
other officers $500 4
chosen were +. F.
Beattle, Greenville,
S. c., vice presi- t>asAsASAaHsssA zssA1aSA
dent, and George Gov. George ]. Seay
H. Keesec, cashier
of the Federal Reserve Bank of Rich
mond, secretary; this honor being &C
corded him every year. E. P. VandiVe
Of the North Carolina National Bank
Anderson, S. c., was named as chair
man of the advisory committee, and 81
new members of that committee, select
ed for term of two years are Georg
F.. Gehr Of Westminster, Md; Floyd
Davis of Washington, D. j. F. Strothe
of the First National Bank. WEIGH, W
Va: C. S. Carter of Dominion Nationa
Bark. Bristol. Va: w. L. Glover of tn
Edisto National Bank, Orangeburg, S. G
and John NJ Miller. III, of Citizens
National Bank, Gastonia. N. c.
Gov. Seay Makes Address.
George J. Seay, governor of TIL
Richmond Federal Reserve Bank, il
his address to the association reviewed
informally the banks operations ant
policies in the past year. He discussed
the formal annual report recently pub
lished, showing net profit for the yea
ended December 81, 1928. of $1.118
$3.50, with dividends paid totalinI
1910. 682 98. The bank paid as franchise
tax to the United States treasurer S673,
448oO, after transferring the sum o
S74,827.65 to surplus account.
The governor said that the tota
franchise tax paid to date by the Rich
nond bank amounted to S5,323, 000 anC
the total amount paid by the Fedora
Reserve system was S142, $4,000.
c. E. Tiffany of Warrenton, presiden
of the stockholders association, in hi
address urged a greater co-operatio,
of member banks with the Federal Re
serve institution, particularly in clos
scanning of trade paper accepted b.
them.
Mckee Lauds Officials.
H. H Mckee of Washington, pre-
senting the report of the stockholders
advisory committee. praised the official
of the bank for their efficient man
agement and said that no suggestion
for improvements had been made b.
the member banks.
Of1cials of the stockholders associa
ton and the bank declined to stats
what discussion there had been o
stock speculation and the Federal Re
serve Boards policy for restricting TIT
volume of speculative loans. but 1t wa
intimated that some vigorous opinion!
on the matter were expressed.
A guest at the session was Charles
Hamlin of Washington. a member o
the Federal Reserve Board. Six director
of the Richmond bank were present
the remaining three being absent il
Europe. Those present were w. "
Hoxton of Richmond chairman of til
board: L. E. Johnson of Anderson, w
Va: James c. Braswell of Rocky Mount
N c.; Junius P Fishburn of Roanoke
Edwin G. Graham of Washington AMI
Frederic A. Delano of Washington.
Savings Bank Doubles Capital.
At the annual meeting of the stock
holders of the Washington Mechanics
Savings Bank held yesterday in Alex
andria, Va, the following directors were
elected: Walter X Bachrach, Clarence
F. Burton, Ezra Gould, Mahlon Groo
Thomas ]. Groom, George Hayes
Charles j. Happier, L. Hoyt Lamb
Jesse B. K. Lee, Edward F. Pickford
j. G. Pyles, Edwin E. Roberts, E. HUME
Talbert, F. p. williams, John P. F
White and e. S. Wolfe.
4, The stockholders also passed a reso.
luton authorizing an amendment tc
the banks charter increasing the cap.
ital stock from $4,000 to 100000.
Ezra Gould, president of the bank
reported that the bank had shown
steady progress during the year ano
that there had been a gain in deposits
since the last annual meeting of about
100000, this being the largest gain in
deposits reported at any annual meet
ing. He reported that the bank had
paid % per cent dividend to its stock
holders and a substantial amount had
been credited to undivided profits.
The following officers were reelected
to serve for the ensuing year: Ezra
Gould, president; Thomas j. Groom
vice president and cashier; A. Scott
Onutt, assistant cashier; Joseph M
Mccarthy, assistant cashier: l.. W.
Davis, assistant cashier, and M. H.
Buckingham, assistant secretary.
Heard in Financial District.
Roy C. Gasser of the firm of Ander-
son 65 Anderson, New York City, and
former personal counsel of the late
Ogden Mills, was elected member of
the board of directors of the Mergen-
thaler Linotype Co. to succeed Mr. Mills
at a meeting of the board held yes
terdaJ.
The newly elected board of directors
of the Bank Women's Club of WASH
ington eld a meeting last evening at
the home of Miss Mary J. Wintree.
the president, 1917 Twentieth street
northwest. Pleasure and business dis
cussions were combined.
Members of the Washington staff of
q. M. P. Murphy g. Co. leave here for
New York this afternoon to attend a
complimentary dinner to Grayson M. P.
Murphy. head of the firm. who is sail
ing for London soon to establish an Of
flee there.
The Boston e. Maine Railroad ha.
filed application with Interstate Com.
merce Commission asking for authority
TO issue $2,400,000 5 per cent genera
mortgage coupon bonds, series H5, due
March 1. 1882. The bond issue is corol.
larry to the roads plan for paying &C.
crued dividends on the Boston &
Names preferred stock.
Elisha Lee was made an elective d.
ractor of the Pennsylvania Railroad Co,
to serve for the unexpired term of the
late Samuel Rea, which expires in 1882
Mr.. Lee is vice president.
Local bankers attending the Stock
holders Association meeting at Rich
mend report the session one of the
most interesting. 1t gave them an op-
portunity to exchange views on banking
x.,I,ia1a rioIf Y10u n0y11Yaao n n.