Evening star., 1929-12-16
CONSIDER MERGER
OF z BANKS HERE
Commercial National and
Continental Trust Have
Negotiations On.

Conferences with view to the pos
sible merger of the Commercial Ma
tional Bank, located at Fourteenth and
G. streets, and the Continental Trust
Co., Fourteenth and H streets, are now
being held, according to an announce
ment made today by Wade H. Cooper,
president of the trust company.
About all that can be said is that
negotiations are pending and commit
tees from the two banks are attempting
to work out the details of such a
merger" Col. Cooper added. IF the
consolidation takes place at all, 1t
should be carried out in the near tu-
ture," the bank president asserted.
At the Commercial National it was
stated that the matter Is being given
careful consideration, but the negotla-
tionS have not yet progressed lar enough
to present any definite plan to the
board of directors. r. Golden Donald
son, president of the Commercial
thought it too soon to make any fur
ther comment.
Oficials at the Commercial stated
that if the merger plan went through
they would take over the Continental
Trust, Co. and the consolidated bank
would be known as the Commercial
National. They have ample accom-
modattons for carrying on the business
of the, expanded institution IN their
own building.
Combined Deposits $I9,O0O,0OO.
Merger of these two banks would
make an institution with combined
deposits of approximately $4,000, 600.
On the October call the Commercial
reported deposits of practically $16,OO0,-
600, while the Continental had deposits
of nearly $3,o00,000. The banks have
a combined capital at present OF $4,000
600 and surplus of nearly $4,000.
The Commercial National has re-
sources of $20,639,601 and the Contl-
nental's resources total $4,769, SAT. Com
mercial National stock has sold on the
Washington Exchange for several weeks
around S258 per share and the last sale
in Continental Trust Co. stock was
recorded at $149 share.
It is understood that in case the
merger becomes effective, Mr.. Cooper
will be made president of the new bank.
Mr.. Donaldson, president of the Com
mercial, is known to have desired to
retire from the banking field for more
than a year. He has been agreeable to
some sort of consolidation If satistac-
tory terms could be worked out and has
several times been approached on the
subject since the present bank merger
era" got well under way.
Commercial National Officials.
In addition to President Donaldson,
the Commercial National officials in
clude James B. Reynolds, James H.
Baden, Laurence A. Slaughter and Wal
ter j. Harrison, vice presidents; Fred
erick H. Cox, cashier; Hayden Johnson,
general counsel; Ralph B. Quinter, trust
officer: Robert A. CiSSel, controller;
Herbert " Hunt. t. Blackwell Smith,
Alexander r. Varela, M. F. Showalter
and r. Jesse CLANCY, assistant cashiers.
Directors are James H. Baden, Rob
ert A. Cissel, Charles Conard, F. H.
Cox, H. Bradley Davidson, E. G. Da-
| vison, r. Golden Donaldson, w. j: Har-
rison, Hayden johnson, Holcombe g.
johnson, James B. Reynolds, A. M.
Rizik, Percy H. Russell, James Sharp,
Laurence A. Slaughter, Emmons S.
Smith, jr; George Tully Vaughan.
| Besides President Cooper, the Conti-
| mental Trust officials are Charles w.
! Warden, first vice president and treas
urer: James l.. Karrick, vice president;
Mary j. Winfree, secretary; Nathan 3,
| Scott, assistant treasurer; M. I. Tucker,
assistant secretary; Norman Fischer,
| trust OI1CeT' JOHN II. MooIe anu T. "a
! Barbour, assistant trust officers; A.
r. Holden, auditor, and Charles A.
Douglas, general counsel.
The Continental board of directors
| includes Wade H. Cooper, c. c. Cal
houn, David A. Baer, Norman Fischer
| Victor J. Evans Charles A. Goldsmith
Frank T. Hines, James L. Karrick, Leon
Oppenheimer, Nathan b. Scott, I'd
Luke C. Strider, Conrad H. Syme, Will
liam Clark Taylor, D. w. Thayer anc
Charles w. Warden.