Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-14

lumbia. When Congress in 1890 en-
acted law authorizing the incorpora a.
ton of trust companies in the District
the company promptly took advantage
Of the privileges of that act.
Original Officers.
Three of the original officers and
directors of the company still continue
to serve. The first officers Of the COM
pany were Brainard H. Warner. preS1-
dent: John Joy Edison, vice president;
w. B. Robson, secretary; William B.
Gurley treasurer, and John B. Larner,
general counsel. OF these men. Mr.
board of directors, while Mr.. Larner
now heads the company as its president.
Besides these two. the remaining MEM
Der of the original board of directors Is
Albert F. Fox
President Larner is visiting his daugh-
ter. Mrs. A. Chambers Oliphant, at
Beach Haven, N. j.. where today he
began receiving congratulations on the
fortieth birthday of the institution
which he heads. Congratulations also
began arriving at the Offices here today.
The place tomorrow will be decorated
with flowers. celebrating the birthday.
The first temporary offices of the COM
pany were opened 40 years ago at 1901
street until the completion Of the To-
story building on the corner of Ninth
and F. streets in 1891. In l911-1912
the banking quarters were greatly en-
larged and in 1927 the building was eX-
tended over the three adjoining prop
critics, greatly increasing the quarters
of the various departments of the COM
pany. In the meantime. the establish
ment of many Government bureaus in
the western section of the city led to
the opening Of the west end office OF
the company in 1917 at Seventeenth
and G streets This temporary ONCE
was replaced in 1924 by a beautiful
modern structure, which is much ad-
mired by architectural authorities.
History Of Company.
The history of the company has been
one of steady growth and progress, and
it enjoys an enviable reputation for
conservative and, at the same time,
progressive policies. During the World
War it took a very active part in the
Liberty Loan drives. The company is
a member of the District of Columbia
Bankers Association, of which Mr.. Lar
ner Is an ex-president: of the American
Bankers Association, and OF the Clear
ing House of Washington. Its deposits
today stand above Is millions, while its
capital assets now are 31a millions, and
its stock is quoted around $3.50 per
share.
The company,s board of directors has
always included many distinguished
men and consists at present OF the fol-
lowing: John Joy Edison, chairman OF
the board; John II. Clapp, Frederick
v. Coyille, Augustus Crane, Floyd Z.
Davis, James r. Ellerson, jr.: L. Whit
ing Estes, Albert r. Fox, Melville B.
Grosvenor. Holcombe G. johnson, John
A. Johnston. S. H. Kaufman, Carl
~. A
Kolb, John B. Larner, John G. Let's,
Harry G. Meem, Theodore w. Noyes,
A. Chambers Oliphant, Andrew Parker,
John Barton Payne, Walter S. Penfield,
Arthur Peter, Harvey w. Wiley, Donald
woodward.
The oficers are John B. Larner,
president; Andrew Parker, Harry G.
Meem, Arthur Peter and Charles H.
Doing, vice presidents; Charles r.
Grant. treasurer; James M. Mason,
George M. Fisher and Ralph Endicott,
assistant treasurers; Alfred H. Lawson.
real estate officer, and Herbert w.
Primm, assistant real estate oficer;
william H. Baden, trust officer, and
Leonard Marbury. assistant trust ON
GER; William H. Harper. manager safe
deposit department; Norman E. Tow
son. manager foreign department;
Arthur C. Doying. manager bond de-
ager publicity department.
d. C. Exchange.
Capital Traction continued its slight
decline on the Washington Stock Ex-
change, the stock opening at 921z, a
fraction under prior sale, and dropping
by fractions to the last sale at 91A.
National Capital Bank turned over
one share at 240. as compared to last
previous sale Of 265. American Security
& Trust was steady at asa, and Federal
American Co. common was up shade
to AIS on four-share sale.
Potomac Electric So preferred was
up to 100 on a turnover of II shares,
while the per cent preferred gained
a fraction on six shares.
Trading in bonds was fairly light,
Washington Gas IS A selling of 134,
while the IS B of the same company
went at 1903 and 103A, as compared to
prior sale Of log.
In study OF tn eautomobile outlook
for the remaining half Of the year. Bar
rons financial Weekly says that the
predictions of early this year that 1929
might see an automobile production Of
100000 cars are being rapidly revised
downward as a result of the curtail-
ment of production that has been under
way since the opening of July. Few
authorities now look for more than
1880 900 for the full year."
Ford's absence from the field enabled
the major companies to make big pro-
duction gains. But with Ford back in
the picture the fact that aggregate pro-
duction cannot be pitched at anything
approaching the 5000, 000-car mark "a
being driven home"
Vote on Securities. "a
Washington investors have shown
keen interest in results of a vote BY
business men attending the Summer
courses at Harvard Business School a:
to the investment securities which hac
the greatest chance of appreciation BY
1889. American Telephone 81 Tele'
graph. Curtis Wright, General Electric
and First National Bank Of New Yorl
lead the list The stocks chiefly favored
and the votes cast for each were al
follows:
Issue. Votes
American Telephone telegraph. !,
CurtlsSI1 Wnisne
S Trae National Bank of N. Y.....:.......
Avalon Corporation Of America. ........
Electric Bond and Share:
IntsrnatiOnsl TslepsSine am.Tes
STANDARD oil Of New Jersey. ...,......."
Sm n,Ha SHg Founders trust .::::::::.::..
Sationai city Bank. ....::...::......
S sn,tsd A lne
John M. Riordon, executive vic,
president of the Bank Of Commerce 3
Savings, will leave Washington Sat
urday for o three weeks vacation
Martha's Vineyard.
kari w. Corby of w. B. Hibbs
Co. has returned from vacation at LAX