Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-07-29

! those gong VIII % ~
Hilleary G. Hoskin~ d
! son, vice preSideEf EzEsSEa SA---lMS-EkiaR
! of the Riggs Ma Frank p. Harmon. Jr.
/ els G. Addison, vice president of the
! Security Savings e. Commercial Bank,
: and Lanier P. McLachlen, president
I of the McLachlen Banking Corporation
/, and the first vice president of the Dis
{, trict Bankers Association.
Mr. Addison will attend the sessions
F., as a member of the executive council
! of the American Bankers Association
representing the local association. He
was elected to the Office for three
year term at the last annual meeting
of the local organization. 1t is expect
ed that several other Washington
bankers will also attend the San Fran
cisco sessions. At a meeting in Los
Angeles two or three years ago, about
a dozen local flnanciers were present.
The A. B. A. today announced
large number of special tours, which
will have the convention city as their
objective. The leading railroads of the
country will run special trains and
there are also to be combined rail and
water tours by way of the Panama
Canal.
Harmon Has Advanced Rapidly.
One of the younger Washington
bankers who has climbed the financial
ladder with extra rapidity is Frank P.
Harmon. jr.. vice president of the Mer-
chants Bank & Trust Co. 1t was IN
January, 1918, that Mr.. Harmon de-
cided to enter the field of finance, and
Joined the staff of the Commercial as q
runner. a position which has furnished
the stepping-stones for some of the
most noted bankers in the country.
Mr., Harmon advanced rapidly
through various positions until January,
1920. when he went to the old Mer-
chants Bank as cashier. He was elected
treasurer of the present Merchants
Bank &, Trust Co. in 1922, and on April
l. 1923. was advanced to a vice presi-
dency In April of this year. when
Peter A. Drury vacated the presidency
to become chairman of the board and
Rolfe E.. Boiling was elected president.
Mr. Harmon was made first vice
president
At So years of age he has one of the
most responsible positions in the bank.
He already has an enviable reputa-
ton as a fisherman. Assisted by E.
Jackson Enrich of Harris & Voss, he
hauled in shark from the waters off
Montauk Point during the recent bank
ers' convention. At the same conven-
ton he was vice chairman of the hotel
committee.
Insurance Firm Coming Here.
1t is announced today that the
Premier Insurance Corporation of Amer
lea is to move from Baltimore to Wash
ington to take Offices in the new Shore
ham Building. The president is Herbert
C. Stoddart, who has been an insurance
organizer for several years.
Others connected with the company
include Frank l.. Stoner, who is prcsi-
don't of the g. Mcdaniel Ma
tional Bank of Frederick, Md; Charles
G. Holzshu, vice president of the Liberty
Trust Co., Cumberland, Md, and presi-
dent of real estate mortgage company
and of a lumber company in the same
city: Henry Holzapfel, president of the
Mechanics Loan g. Savings Bank and
of the Washington County Building e.
Loan Association in Hagerstown; John
W. Love- president of the Manhattan
Laundry Co in this city; William C.
Bond, prominent lumber dealer in Mary
land West Virginia and Kentucky;
e. Dale Adkins of Salisbury, Md, who
is director in the Eastern Shore Trust
Co.; Addison E. Mullikin, Baltimore
lawyer and J. Thomas Lyon, Baltimore
financier.
The firm will come here as soon as
the new Office building is completed.
Gas Sales in This Territory.
L he AIIleTlCdI OdS ASSUCldClUll lido
just reported gas sales for the first five
months of the year. The report says the
Middle and South Atlantic regions con-
tlnue to show relatively smaller in
creases than other sections of the coun-
try, the gain In these two regions
amounting to less than 2 per cent for
the five-month period. The South At
lantlc territory includes Delaware. Dis
trict of Columbia Florida, Maryland and
Virginia.
For the country as whole there was
an increase IN sales in May of IL per
cent over May, 1923, according TO re-
ports from SO companies. AT the end OF
May the customers of these companies
showed an increase of 2.5 per cent over
the same time year ago.
CAPITAL Traction Leads Market.
The sale of IS shares of Capital
Traction stock was the feature of heat
ed trading on the local Stock Exchange
today, the price paid being 95 Mer-
chants Transfer & Storage common
came out at 115is, Mergenthaler at los
and 1o47s, and District National Bank
stock at 232.
One hundred shares of National
Mortgage g. Investment preferred sold
at ass and 30 shares of Real Etate
Mortgage s, Guarantee preferred moved
at 7ss Ten shares of Potomac Electric
Power D IL per cent preferred came ouI
at 1887 and Is of the 6 per cent issue
at 112. One hundred shares of Wash
ington Savings Bank stock, in the UNI
listed department. changed hands at IA.
Bonds were quiet, $1,000 Gas B
bonds selling at 1057s, two Gas AS at
1929 and Railway g. Electric As at
S6h, The bid on Railway common
remained at $50 today although local
market observers say it is likely to go
considerably higher, one reason being
the recent exceptional strength being
shown in North American stock In New
York. Washington Cas- quoted ex-
dividend, closed with 125 bid and 100
asked
Bankers Bulletin Out Today.
The Monthly Bulletin of the District
Bankers Association appeared in the
morning mail The size has been In
creased to eight pages. On the first
page President w. j. Waller expresses
confidence that with the pledges OF
cooperation already received, much will
be accomplished during the coming
year. The publication gives an excel
lent resume of recent association ac-
tivities.
FORMS WEST SUBSIDIARY.