Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-24

the doings at the
&, Spring meeting of 10
tf'e r-,ecutive coun- q
a, Gil the American
Tankers' Associa- '''''' 's's1'
! ton at PiloXi, Miss. Waldo N.wcou.r
! Chairman Eliot
! H. Thomson will report for the adj
! vertiSing committee, which is expecting
: to launch the most pretentiouS adver-
{ Using campaign next Fall that the Local
banks have ever participated in. Fred
erick P. H. Siddons is chairman of the
commercial trade activities committee
/. The work of this committee is divided
! into sections and Covers a broad field
f! and the facts presented are always OF
! special importance to the banking
fraternity.
: Charles H. Doing is chairman of the
I insurance committee, one of the aSSo-
cations most recently established
I groups. Eugene E. Thompson is chair
man of the fraudulent securities COM
: nlittee and Francis G. Addison, jr.. OF
the committee on law and legislation
: Howard Moran will report for the pro-
5 tective committee, George o. Vass for
the publicity committee and Frederick
H. Cox on standard banking forms
Other committees to be heard from are
. taxation, in charge of Henry H. Mckee,
and Treasury relations, by w. j. Waller
! Only the most important highlightS
/ will be touched upon at this time, as
! the full reports are always made at the
. annual convention. But President Flem-
ing felt that it was too long time be-
/ tween the last meeting and the June
convention without some intervening
business session. Mr.. Fleming an
nounced today that the matter ' of
forming a credit bureau would also
come up for discussion Friday. The
problem has been pending for some
time and definite action is likely to
Z come soon. Perhaps the most interest
! ing reports Of the meeting will be from
: the three newly formed sections of the
ssociation-fiduciary. safe deposit and
auditors. The chairmen are F. P. H.
Siddons, Charles E. Howe and j. Damn
Faber.
Waldo Newcomer Noted Banker.
In the recent election of Waldo New
conner of Baltimore as president of the
Stockholders Association of the Federal
Reserve Bank of Richmond, the mem
bers selected for the Office one of the
most noted bankers in the South. The
Washington bankers present at the
meeting expressed much satisfaction
over the choice.
Born in Baltimore and graduating
from Johns Hopkins University, Mr..
Newcomer entered banking at an early
age. He advanced with rapid strides
until he became president in 1906 OF
the National Exchange Bank. In 1925
ne took the important position as chair
man of the board of directors OF the
Baltimore Trust Co., which position he
still holds. He is vice president of the
Atlantic Coast Line Co. and the North
ern Central Railway, and has been on
the directorates of the Atlantic Coast
Line Railroad, Safe Deposit & Trust
Co., Savings Bank of Baltimore and
other equally important corporations.
1t is almost amazing the amount OF
time he has given to the promotion CT
various civic causes. He was a member
of the Charter Revision Commission,
which drafted new charter for his
home city, although the Legislature
voted it down. He has acted as treas
urer and director of the Maryland
School for the Blind and the Mercan-
tile Library Association, as we'll as serv-
ing as a member of the National Ad-
visory Commission of the Sesquicenten-
NAL Association.
Mr. Newcomer stands high in the
ranks of the Maryland Historical Soc
iety and holds membership in many
clubs, including the Maryland, Mer-
chants, Maryland Country, Lotus, Recess
and Bankers, the latter three being
New York organizations. who's Who"
says the stockholders associations new
president, is a Lutheran in religious
affiliations and is independent in poll
tics. 1t would require good-sized book
to review in detail the many highlights
in his career.
Today's Features on Exchange.
Washington Railway & Electric pre-
ferred was one of the most active stocks
on the local exchange today, selling at
9712 on four different transactions.
There was also a $4,000 turnover in
Railway & Electric IS at 1854.
A 1,000-share block of National Mort
gage & Investment preferred was sold
today at 534. This was the largest trans
action in this issue since it has been
on the exchange. The newly listed Real
Estate Mortgage & Guaranty preferred
recorded a 100-share transfer at 7l2.
Potomac Electric 6 per cent preferred
moved at 113, Merchants Transfer &
Storage preferred at ITO and Federal
American National Bank stock at 335.
Several good sized bond sales took place
at recent levels.
American Ice Net at Peak.
Net earnings of American Ice Co. for
; the first quarter of the year after in
terest, but before Federal taxes and de-
probation, were $338,007 This COM
, pares with $284.40 for this period last
. year and $147.803 for 1927, and Is the
, best first quarter in the companys his
tory.
Club Savings About $S,000,000.
/ The advertising committee has re-
, ported to the District Bankers Associa-
! ton that about 100000 has been SUBJ
scribed to this years Christmas savings
! clubs conducted by Washington banks
! This gives the 1929 clubs gain OF
about 100000 over the figures for 1928
and an increase of $2,40O, 900 since 1924
when the clubs were first operated
, There are 87,701 members in this years
clubs, a gain of 1929 over last year.
Financial District Notes.
Bids for the new branch Office to bt
erected by the National Bank of Wash.
ington have been opened end the con-
tract will be awarded at once. Tit
branch is to be located at Twelfth ant
water streets southwest, In sector
that is showing unusually rapid bust
ness growth, according to George L
StarKey, president of the bank.
I More than 90 women are planning
to attend tomorrow nights dinner o.
the Bank Women's Club, when Mis-.
Nina Bruere, New York bank official
will speak. To obtain more room 1t ha!
been necessary to change from the
Womens City Club to the Mems Cit,
Club.
M. ]. Meehan g. Co. will open q
brokerage Office in the Washington
Hotel on May Is. The local manager
will be Frank j. Thiel, who has JUS
resigned as assistant treasurer of thu