Evening star., 1929-06-07

100000 o. certifi- o. W3
"ates in March at e.
"a per cent Nathan B. williams
brought subscrip-
lions of only 1923 000. 900, the overSub-
;cription being far below that which
had been anticipated. The latter issue
also is now selling in the open mar
ket on a basis to yield slightly In eX-
cess of per cent.
The decision to Jump above the re-
iiscount rate was reached after many
consultations. and it is understood that
It was one of the subjects considered
At the conference between the Federal
Reserve Board and representatives
Of the New York Federal Reserve Bank
who were here yesterday.
williams TO Address Bankers.
Nathan B. williams, Washington at
torney, will address the New York State
Bankers Association at the annual con-
vention in Toronto, Canada. He will
speak on the 18th of June, his subject
being Business Relations With Gov
ernment." The New York association
is one of the largest organizations Of
the kind in the country.
Dooley Assistant Trust Officer.
The directors of the Federal-Amer-
lean National Bank elected Aubrey o.
Dooley assistant trust officer at their
meeting late yesterday, President John
Poole announced today. Mr.. Cooley
has been with the Federal-American
since February, being formerly con-
nected with the Commercial National.
He is a native of Virginia and after
graduation from high school did Secre-
tarial work for a time. During the war
he served overseas and on his return
entered Georgetown University Law
School, graduating in 1924 and being
admitted to the Virginia bar in Decem-
Der OF the same year. Last year he
took an LII. M degree at National Uni
versity.
Mr. Dooiey has been hard worker
In the American Institute of Banking
He holds standard certificate and is
second vice president of Washington
Chapter. He has been editor of Dollars
and Sense for the past three years and
on the board of governors for two
years.
Savings Bank Increases Stock.
Pursuant to decision of the Wash
ington Mechanics Savings Bank to in
crease its maximum authorized capital
stock from 5000 shares Of par value of
$40 each to 10000 of the same, war
rants have been issued to stockholders
OF record May 81, giving each the right
to subscribe to a share of the new
stock at $50 per share for every share
of old stock held Warrants. transfer
able. divisible and exercisable under
conditions set forth in the notices, ex-
pire after noon June &c.
The bank was organized by Ezra
Gould, its president, in 1906: in 1924,
took over the two branches of the Peo-
pies Commercial e. Savings Bank and
now maintains a main office at Eighth
and G streets southeast, and branches
at 1908 Georgia avenue and Ninth and
East Capitol streets.
Deposits at this time are over 81, TOO =
600. Its present capital is 1000 and
surplus and undivided profits are $lO5.-
600. After July the capital will be
100000 and surplus and undivided
profits, $155,000. For the past three
years the bank has paid regular quar-
terly dividend of per cent and an
extra dividend Of per cent making
the old stock on an annual basis OF
20 per cent.
Building Association Elects.
The following officers and directors of
Oriental Building Association, No s,
organized in 1861, were reelected yes
terday at the annual meeting: Presi-
aent. Charles H. Bauman; secretary.
Henry e. Deckman: treasurer Charles
w Schafer: directors, Albert Schulteis,
Carl Haneke. G. H. Schulze, John j.
Kolb. H. j. Mattern, William F. Ochen-
reiter, August G.. Hermann, Chaplin
B. Bauman, Charles Schafer.
A. I. b. Delegates OF for Tulsa.
The big delegation from the local
chapter A. I. B., leaves here tonight
for the annual convention at Tulsa,
Okla, joining special train bearing
the New England. New York and Phila-
delphia representatives. Frank M. Per-
ley, vice president of the chapter, heads
the delegation. as President A. E. HenZe
and T. Hunton Leith have already gone.
Other delegates include three past
presidents, Harold w. Burnside, I. j.
Roberts and James A. Soper. Others
are Robert G. Whitton. William Win
stead, Raymond Lewis. Richard Norris,
Rose Royce, Fred English, Robert Sis
son, Gerald Keen, John DeMarco, Wal
ter Sanderson and Aubrey o. Dooley.
The delegates believe they are going
TO bring about the election Of T. Gun
ton Leith to membership on the ma
tional council. Other chapters in the
section of this country are not push
ing candidates of their own as they did
last year. This is held highly favorable
to Mr.. Leith's campaign.
capital Traction Turns Upward.
In one OF the busiest sessions Of the
Washington Stock Exchange in some
time, Capital Traction showed more
strength today, advancing to 94l2 and
closing at 94l4, after closing yesterday
at 931z The stock opened today at
93%, and all the sales were in small
lots. none over 10 shares.
The Potomac Power issues were in
better demand, the per cent preferred
selling at 112 and the 5la per cent stock
closing at 1852 Washington Railway
a. Electric preferred came out at 9512,
Merchants Transfer e. Storage COM
mon at 124, while Mergenthaler proved
4he most active stock on the list, open
ing at lO41a and closing at l04A
ex dividend
Second National sold at 230 and Ma
tional Bank OF Washington at 301 "a
Ten shares of Columbia Sand & Gravel
made a new low, dropping to 88l2
Federal-American Co. common sold al
4sL and 49, Practically all the last
part of the session was devoted to bond
trading, Capital Traction SIS, Potomac
Electric Consolidated IS and George
town Gas IS being in the best demand
Washington Mechanics Bank wa.
quoted ex warrants. Gas stock wa:
quiet with 124 bid and 125 asked. The
unlisted stocks were called off, as the
Exchange will be closed on SATURDAYS
for the rest of the Summer.
Financial District Notes.
Robert c. Jones. co-manager Of G. M
p. Murphy g. Co., is in Boston attending
the triennial convention of the Society
Of the Cincinnati, Of which he is q
member. John E. Parker connected with
the same brokerage house, has returned
from q motor trip to Toronto, Canada.
Bertram Chesterman, president of tn,