Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-02

| ( &# 49, decrease of 12
~ per cent under tn
Charles r. Brisht, same week a yea
ago.
Richmond clearings were $37, 1888 ,00'
for the week ending February %. agains
$44.ll4,000 for the previous week. Thi
is a decrease Of ST over last year Their,
was a still larger decline in Norfolk
clearings for the week being 80 pc
cent below the 1923 figures. The de
crease for the country as a whole wa
over 10 per cent.
AZ Years With Metropolitan.
Charles E. Bright. assistant cashier
OF the National Metropolitan Bank
does not change his banking afflliation!
as often as the moon changes phases
On next Monday. March 4, a date
rather easy to remember for Severa
reasons. he will have been connected
with the Metropolitan for just 43 years
1t was March 4. 1886, when he
walked into the bank and was assigned
TO his first job. Most young men II
those days began their financial careers
as bank runners, Mr.. Bright following
the general rule Through ability anc
close application to duty he advanced
rapidly through various positions unit
he was elected an assistant cashier ir
1917.
Two years OBVIOUSLY. in 1915 he hat
been appointed manager of the Wash
ington Clearing House Association. Mr.
Bright has held this important position
ever since that time. being reappointet
at the recent annual meeting when H
H: Mckee was reelected chairman ane
Victor B. Deyber secretary of the asso
| citation.
For years Mr.. Bright was active i,
Washington Chapter, American Insti
tute OF Banking, serving several term
as treasurer. He is native of Wash
ington.
City Still the Largest Bank.
1t has been said that the combina
ton of Guaranty Trust Co. and Nationa
Bank OF Commerce, giving total re.
sources Of close to 50 600 600. 900, will
make the largest banking institution ir
the country. This is based, says the
Wall Street Journal upon published
figures which comprise gross deposits.
IL, however, net deposits are taker
into account it appears that the Ma
tional City Bank is still the largest bank
Notwithstanding the Guaranty Com.
merce combine. 1t is still the largest
bank also in point of capital resources
Its current aggregate net deposits exceed
those OF the Guaranty Trust e. Bank
OF Commerce combined by $152, 900 900
while its capital funds are sci 900 ,o0t
larger
Trust Section Hears Reports.
The f1duciary section of the District
Bankers Association at a recent meet.
ing presided over by Chairman r.. p. Fl
Sfddons heard several committee re.
ports, including one on taxation b.
Kenneth Brooks of the Riggs Nationa
Bank, one on life insurance trusts b,
Stanley Holland of the American Sc.
cnrity & Trust Co. and another or
Standardization by William H. Baden OF
the Washington Loan 81 Trust Co
Judge A. A. Hoehling of the Nationa
Metropolitan also reported on law anc
legislation having special importance Il
trust officers.
Chairman Siddons announced thai
the next open meeting would take place
late In March. with two speakers Of
national prominence.
Implement Sales Show Rise.
Sales of implements and tools con.
tinued to rise rapidly throughout 1928
ohA lb0AAdtlOLlS dIC LIld
this course will be continued in 1929
according to the Department of Com.
merce. For the year 1923 hardware ex.
ports reached their highest value in five
years, while shipments of agriculture
implements set new high record
Total value Of agricultural implement
exports for the year was SIG, 00O, 900
a record total, while value of hardware
and allied products shipped was $73,.
36l 900, an increase Of $9,500,O00 ovel
1927.
Safe Deposit Problems Studied.
The safe deposit section Of the Dis.
trict Bankers Association held a meet
ing this week, presided over by Chair
man Charles E. Howe, and discussed
various safe deposit problems. An effor
is being made to bring about much
more uniform practices in the Wash
ington banks among those in charge
OF the safe deposit departments
Mr.. Howe and his section member!
have many matters to take up, bu
most of them are of more or les
technical nature.
Heard in Financial District.
The Washington Office of Westheime
e Co. participated this week in an of
fering of 5000 shares of National Sasl
Weight Corporation $3.50 cumulativ,
dividend convertible preferred stock
without par value. The stock, which j
to be listed on the Baltimore Exchange
was offered at $5l so per share and &C
| crued interest and has all been sub
| Scribed.
The Virginia Bankers Association viii
hold its annual convention at Old Poin
4,.t l~sr ~
| and %. The Old Dominion Banker
| Point" for a convention.
Eleven local banks and three depart
ment stores now have income tax ex
| perts ready TO assist customers in max
| ing out their tax returns. This servic
| is greatly appreciated every year an,
! is furnished by the Internal Revenu
| Bureau.
{. & o. Siashes Damage Costs.
One of the the most outstanding O
| the various economies in operation re
corded by the Chesapeake 81 Ohio dur
! ing recent years is the tremendous re
| duction in the amount paid out 70
| freight loss and damage, according L
w. J. Harahan, president
In 1919 this company paid out Oh
! this account total of 81 ST. 100 on
gross freight revenue of S83,073 00l
while in 1928 the total payment
amounted only TO $287 1871 on a gros
| freight revenue of $ll3.377,373. II
other words, while business was in
cTe3sing to little more than twice 1t
value. the loss and damage payment
were being decreased by nearly IL time
! their former total.
Coast Lines January Earnings.
The January gross earnings OF tn
| Atlantic Coast Line Railroad are re
ported As $6,6O7273, against $6520,87
in January, 1928; $7409,747 in 1872
and $9,0l4 SOC in 1925. Net operatin
income for January was $l,456,69l
compared with $836,728 in 1928, 81
298,77l in 1927 and $2,l78,637 in 1922
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