Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-13

amounting to $780, Hahn n. Iarner.
O64, with 100000
added to surplus and stockholders re
ceiving dividends Of $4,000, at tn
annual rate Of IA per cent.
Deposits increased $l,17l,763 to ,
total at the end of 1928 Of 5,684, 9l6
The banks total resources increased II
1928 from $l7,837976 to $l9,107 ,324
The savings department showed par
ticularly good gains. The big event II
the institutions more recent histor!
was the erection and opening last Sprini
Of an addition which more than dou
bled the banks floor space.
President Larner has played vita
part in the institutions growth. He wa!
closely identified with the bank at the
start, his first position being that o.
vice president. He was also genera
counsel For many years he has beer
president, with John JOY Edison al
chairman of the board.
Bank Names New Director.
At the regular monthly meeting Of
The board of directors of the Washing
ton Mechanics Savings Bank the regu-
lar quarterly dividend OF per cent was
declared, payable April /, to stockhold-
ers of record March 20.
Clarence r, Burton was elected q
director to fill the place caused by the
recent death Of r. H. Bagby. Mr.. Bur-
ton is a member of the local bar and q
certified public accountant. Of the State
Of Nevada. ---'
Local Dividends Declared.
The board of directors of the Cont
mental Trust Co. have declared the reg
ular quarterly dividend of II. per cent.
The disbursement Is payable March 80
to stockholders of record March IS.
Directors of the Federal Storage Co..
ut their Monday meeting, declared the
regular dividend of 81 per share on the
preferred stock. April Is, to stock OF
record March 80.
Leith Urged to Run Again.
The board Of governors Of WASH
ington Chapter, American Institute OF
Banking. has decided to enter a candi-
date for place on the executive
council OF the national organization at
the convention to be held in Tulsa.
Okla, In June The board has selected
T. Hunton Leith, who made such q
strong campaign last year, to run again
this year. A special meeting OF the
chapter has been called for tomorrow
evening in the chapter rooms for rati-
fication of the boards recommendations
MIR. Leith has signified willingness
to enter the race and his friends be-
lieve that he will be elected. Last
years race was most exciting and was
lost only because there were too many
candidates In this same territory.
Treasury Issue Allotted,
Secretary Mellon reports that the
new s475, 000,0 900 Treasury 434 per cent
Offering was. .oversubscribed, subscrip-
tions aggregating $523,00o,000. Sub
scriptions for the issue maturing March
Is have been allotted In full, about
$50, o0o, 900. Allotments on the cash SUBJ
scriptions were made as follows:
All subscriptions In amounts not ex-
ceeding 100000 for any one subscrib-
er were allotted In full. Subscriptions
in amounts over 100000, but not ex-
ceeding 81 ,0o0, 900 for any one subscrib-
er. were allotted 80 per cent, but not
less than 500, 900 for any one subScrib-
er; and subscriptions In amounts over
81 .000. 900 for any one subscriber were
allotted IS per cent, but not less than
5000, 900 for any one subscriber.
Some local issues sold lower on the
Washington Stock Exchange today,
while others maintained recent levels.
Capital Traction opened at 103k and
closed at 1922 on small lot trading.
Columbia Sand 81 Gravel preferred
opened ut s3E, and close ut 90, also on
light trading. Security Storage preferred
opened at 1872 and closed at 1914.
Potomac Electric Power per cent
preferred came out at 113A and the
5iI1 per cent issue at 10es4. Railway &
Electric preferred opened at 90 and adj
vanced 70 Of point. Federal-Ameri-
can Co. preferred sold at l03. Mergen-
on q, 60-share turnover, and 100 shares
of Merchants Transfer & Storage pre-
ferred at Ill.
The only bank stock out was WASH
ington Loan g. Trust. which sold at $50
for three shares, against the last pre-
vious sale at 523. More interest was
shown In bonds today, Potomac Electric
IS moving at 1882. Washington Gas
S. at 1919. Railway g. Electric Is at
ssss and ssA, and Georgetown Gas IS
at lol12.
Financial District Gleanings.
George e. Fleming, vice president oil
the Union Trust Co.. who has been Ill
for about q month, is back ut his desk
today.
frank w. Stone, vice president of the
National Savings & Trust Co., who wa
taken LII shortly before Inauguration
has returned to the bank.
The Riggs National Bank Club will
have q st. Patrick's dancing party d
2400 Sixteenth street, Saturday eve
ming, according to announcement BY
the club president, George Dagenais.
The board Of governors Of Washing.
ton Chapter, A. !. B., will meet ut head
quarters this evening.
A. E.. Henze and Charles z. Hall o,
w. B. Hibbs 81 Co are arranging fol
a dance of the employees to take place
Saturday evening at the willard.
Grayson M. P. Murphy. head OF thu
brokerage firm Of G. M. p. Murphy &
Co.. who came to Washington IN con-
nection with business OF the organiza.
ton last week. Is spending the present
week In the Capital.
President Maurice Otterback Of Thu
Anacostia Bank stated yesterday tina
plans for the new theater to be erected
In Anacostia will be approved at Z
meeting Of the board.
A Good Rule TO FoIlow-n.
When George r. Baker buys any
thing, says the Wall Street Journal, III
never sells 1t. He is still in possession
of his original holdings Of Steel. Erie
First National Bank stock. etc. Thi
good rule to follow, that Is II vol
think your judgment is as good as tina
OF Mr.. Baker.