Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-09-16


.lreceived from buSi-
Zine firms am
Financial houses John q. Cochran.
siwith which the
s;Franklin does business. President John
slB. Cochran and Vice President Thomas
Up. Hickman took the leading part IN
eiwelcoming the visitors and showing
sthem around. Many directors were also
slpresent and will remain at the bank
suntil the reception ends at o'clock this
sevening.
i The bank has a limestone facade 50
sfeet wide and 81 feet high. The Italian
Renaissance style has been introduced
CLOVER portion three massive arched
sopenings rs feet high have been con-
sstructed. The banking room itself Is 81
sfeet wide and ITO feet long. The equip
.ment is wholly new. the cageleSS counter
shdea having been adopted. The safe de-
sfated on the first floor, the coupon
booths being In close proximity. The
bank also has a big vault for its own use
in the basement.
Il Provisions for Expansion.
a Space for the officers has been re.
sServed in the front of the lobby and
there is also a large committee room
sion this floor. The materials used IN
s,the banking room generally, consist
sbf French and Belgian marbles, bronze
sand black walnut. The floors are Of
sterrazzo tile and marbled linoleum and
sthe free-standing furniture IS OF black
swalnut The officials have looked to
sthe future, owning much more space
sthan now being used by the bank. BY
sthe removal of a partition the present
ESsrf b4sncS san IS located Ss m
:Section of the city toward which bust
shess has been gravitating rapidly In
trecent years.
George r. Suter<i is manager of the
sbranch, r. E. Norton and w. M. SIN
clair are its tellers and Miss Ruth CAN
ney, bookkeeper. Officers of the Frank
lin National Bank are John B. Coch-
ran, president; r. A. Todd, vice presi-
dent; Thomas P. Hickman, vice preSt-
dent and cashier, and Samuel M. Thrift.
N. G. Stephenson, Harry E. Mercier,
stB. l.. BauSerman and George r. Suter,
slassistant cashiers.
a. Directors are William H. II. Allen,
.,John B. Cochran, r. e. Duvall, w. H.
sGardner, Ernest Gichner. Herbert Gug-
Repheim, E. F. Hail. Thomas P. Hick-
man, George A. Harris, Walter Stilson
!: autchins, Charles i F. , Light c P J:
i'm. Schneider and r. A. Todd.
Three Bank Stocks Out Today.
q Three bank stocks appeared during
1.-THE trading on the Washington Stock
s,Exchange today. Forty-three shares
siof National Bank of washington sold
siat 305. One share of Federal American
National moved at 332 and the rest OF
sthe trading was in Riggs.
. Ten shares of Riggs National sold at
s,617, four points under the closing sale
s'1ast Friday Just at the close OF the
,,trading session, however, single share
s,came out on the board at 621. The stock
alnIAcol with hid ond ROE ockad
:! Capital Traction sold at SO in small
slots. Potomac Power 51a per cent pre-
.iferred was active in small lot trading.
cit opened at 1861 and closed at 105h.
Railway & Electric preferred also figured
sin small sales at 97A and H..
sldend at 1043s and H.. Most Of the
siotter transactions were in bonds, $4,000
.,Potomac Electric Consolidated IS selling
Sat 100 and $4,000 Railway & Electric
sl4s changing hands at 84A.
4 Heard in Financial District.
=! Frank P. Hartman, jr., vice president
siof the Merchants Bank & Trust Co.,
sras returned from his vacation. spent
slmostly in Pennsylvania.
q Arthur Foraker, manager Of the WASH
s|ington Office Of Eastman, Dillon & Co.,
siwas back at his desk today from his
sivacation.
:. Eliot H. Thomson Of the Washington
loan g. Trust Co. is taking few days
sivacation. He plans to divide his time
sibetween Washington and Epping For
q Eugene e. Thompson, head Of Crane,
ssParriS e. Co., returned few days ago
iifrom an extended trip to the Pacific
slCoast. -.
VNational Bank Of washington, will
sireach home in a few days from q
sSmotor trip which has included Boston,
althe Berkshire Hills, Catskills and the
slAllegheny Mountains.
q Other Financial Notes.
X During the last week in August life
SIinsurance companies, with total assets
slof $4,000 600, 900, invested 63.5 per cent
slof their funds in mortgage loans, 34.4
stper cent in bonds and 81 per cent IN
slStocks.
:, The local Office Of the Washburn
ssCrosby Co. announces that the directors
Hquarterly dividend Of 81. so per share on
sIthe preferred stock, payable October
Ato stockholders of record on Septem-
lsber IA.
y w. L. Marshall, formerly advertising
ssmanager of the Victor Talking Machine
,tCo. and one Of the most widely known
Representatives In the music industry, has
been appointed general advertising
ssmanager Of the Radio Victor Corpora
sltion Of America, with headquarters at
d the executive ofdces Of the company In
stNew York.
n Would Check Insurance Losses.
q Lapsed life insurance constitutes one
ssof this country's greatest economic
Iwastes, according to William Montgom-
X cry, president of the, Acacia Mutual
sILife Association, who declares that in
Attaking steps to minimize this huge an
esnual loss the life insurance companies
sswill perform a notable service. Last
Myear not less than $7,424, 265, 428 of life
81 INSURANCE lapsed. the premiums already
y paid upon it representing loss to all
aconcerned, despite misinformed opinion
I,that iapsed policy means money in
sF,the insurance companys pocket.
A A large share Of the blame for the
4,enormous volume of lapsed insurance Is
~ placed by Mr.. Montgomery upon meth
" DDS of insurance selling which all TOO
n frequently are employed.
One remedy for the lapse problem Is
"a agency contracts so constructed that
n agents have a strong economic interest
& in selling policies that do not lapse; IN
ii other words, compromising agents lib
terally for business that stays.
ell --o--
!: COPPER AND TIN.