Evening star., 1929-01-03

112. Peoples Drug DIR. Julius Klein.
moved at 127.
Trading in bank stocks was confined
to American Security g. Trust IN whlcn
IL shares were sold at 452 -, ana
Washington Loan & Trust, 10 shares
other issues included Columbia Sand
e. Gravel preferred at SO, FEDERAL
American Co. common at 53% ana
CHESTNUT Farms Dairy preferred at
107la. x
Forty shares of Chaplin Sacks 3 per
cent preferred sold at lot in the un-
listed department and Cosmos Cluo
AIS moved at 90. In the other hSC
Potomac Electric Consolidated os
brought 1915 and Chesapeake d
Potomac Telephone IS at 991s.
Two New Directors Elected.
At the annual meeting of the Mer-
chants Bank e. Trust Co., held late
YESTERDAY. Daniel j. O'Brien, president
and general manager of the Maynower
Hotel Co., and j. j. Drury, nephew
of Peter A. Drury, were elected 10 tne
board of directors. Mr.. OBrlen mas
long been prominent in the hotel busi-
ness. being connected with prominent
hotels in New York for years. He IS
director in the Park Central Hotel, new
York; the Cathedral Bond d Mortgage
Co.: vice president and director OF Ihe
Washington Garage & Accessories CO.,
and head of the Mayhower Hotels Corp,
which is separate from the hotel com
many. ]. j. Drury the other new dlrec-
tor, is connected with various business
enterprises in the city.
The directors reelected include Harry
E. Allen. Ray H. Arnold, Noble r.
Barnes, Rolfe E. Boiling, Harry R. Car
roll. Peter M. Dorsch, Peter A. Drury,
Mark F. Finley, Ernest Gerstenberg,
Frank E. Ghiselli, Frank p. Harman,
ir.: Holland w. jerks, William E. Leahy,
Waiter NJ MacNichol, j. Ernest Mitchell,
c. c. Murray, Alvin L. Newmyer. Frank
O'Hara, Joseph A. Rafferty,, Roland s.
Robbins, L. E. Shreiner, j. l.. SHERWOOD,
Lewis M. Thayer, A. G. Waller and John
Zanier.
The directors met and organized for
the coming year by electing these ofl-
GERS: Peter A. Drury, president; Rolfe
z. Boiling, vice president; Frank P.
Harman, ir.. vice president and secre-
tary: Frank E. Ghiselli, vice president;
H. j. Donoghue, treasurer; B. Ashby
Leavell. trust officer; Wade H. Ellis.
counsel; l.. E. Shreiner, vice president
in charge of the Dupont branch; w. y.
Baden, assistant treasurer; Henry ..
,Wattles, assistant treasurer.
Fiduciaries Committees Named.
Chairman F. P. H. Siddons of the
fiduciaries section of the District Bank
ers' Association, has completed the or
ganization by announcing the appoint
fl1ent of the following committees:
Standardization William H. Baden,
trust officer, Washington Loan & Trust
Co. chairman: David N. Houston,
American Security g. Trust Co.; Nor
man Fischer. Continental Trust Co.;
Barnum L. Cotton, District National;
John Poole, Federal-American National
Thomas P. Littlepage, Liberty National;
B. Ashby Leavell, Merchants Bank &
Trust Co.; c. D. Radcliffe, Munsey
Trust Co.; William de Faust, National
Metropolitan; George M. Mckee, Riggs
National: Victor B. Deyber, Second Ma
tional; George E. Fleming, Union trust
Co: Samuel M. Thrift, Franklin Ma
tional: Albert S. Gatley, Lincoln Ma
tional: James Trinble. National Bank
of Washington, and John M. <Riordan,
Bank of Commerce 81 Savings.
Law and egislation-Adolph Hoehl-
ing. National Metropolitan, chairman;
Erskine Gordon, Federal-Anerican
Bruce Baird, National Savings & Trust,
and Edward J. McQuade, Liberty Ma
tional
axation-Kenneth Brooks, Riggs
National, chairman; David Bornet, Ma
tional Savings g. Trust Co.; II. f..
Hollingsworth, National Metropolitan;
Alexander Wolff, Second National, and
Aubrey o. Dooley, Commercial National.
Life Insurance TrustS-T. Stanley
Holland, American Security e. Trust,
chairman; L. A. Marbury, Washington
Loan e. Trust: Irving Zirpel, Union
Trust; r. T. Highfeld. Mount Vernon
Savings, and Ralph P. Barnard, District
National.
Chairman Siddons of this section an
nounced today that Robertson Griswold,
vice president of the Maryland Trust
Co. will address the section at the din
ner on January %, in addition to Reu-
ben A. Lewis Mr. Griswold is president
of the Corporate Fiduciaries Association
of Baltimore. and will tell what this
organization has accomplished since 1t
started in February, 1925.
Land Bank Pays Dividend.
Stockholders of the Potomac Joint
Stock Land Bank have received diVi-
dend checks for the usual 3l2 per cent
seni-annual dividend. which was au-
thorized by the board at the December
meeting. The land bank now has re-
sources in excess Of $7000,000 and
capital. surplus and profits in excess
of s550000 George A. Harris, the
president, stated that there would not
likely be any new issue of farm loan
bonds or increase in the capital stock
during the next six months.
Commerce Official Reviews Year.
Domestic business was larger than
ever before, foreign trade was in ex-
ceptional volume as 1928 closed, end
there is every indication thai the high
levels of business of 1923 will continue
in 1929, according to DR.. Julius Klein
director of the Bureau of Foreign and
Domestic Commerce of the Department
of Commerce. Maintenance of United
States imports at about the same level
as the two preceding years indicates the
large purchasing power and general
prosperity of the Nation, DR.. Klein says
Foreign nations also are experiencing
good business, and the steady eXpan.
sion of their export trade has rather
closely paralleled that of the Unitec
States: fact that it is slightly larger
for Europe is further evidences of tha
continents economic recovery.
The report takes up in great detail
increases in retail sales larger motor
car output, improvement in agriculture
increases in merchandise exports anc
the lower prices on rubber and silk.
Heard in Financial District.
John d. Leonard vice president o
the Washington Savings Bank, mas re
turned 10 his desk after 10 days illness
Thomas NJ Brahany of Crane, Parri
g. Co. sails from New York Saturda!
FOR a cruise in the Caribbean. He vii
go as far as the Canal Zone and b.
accompanied by J. F. M. Bowie.