Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-07

having attracted
attention for years in every corner O.
the scientific world.
At the same meeting the directors
elected w. H. Martin, jr., assistant
treasurer. Mr.. Martin has been witt
the Merchants Bank for many year!
and held several important positions.
i President Peter A. Drury left Wash
lngton today for a six-week stay a
Miami, Fla.
Otterback Made Loan Official.
Maurice Otterback, president of the
Anacostia Bank, was elected vice presl-
dent Of the Eastern Building and Loar
Asociation at the fortieth annual meet
ing of the directors, held yesterday. The
sther officers are Alexander Mckenzie
president; George Repetti, treasurer
md William M. Payne, lr., secretary
IN addition to the officers the board OF
directors includes:
. James J. Hayes, William H. Yost,
william H. Hammer, Clarence F. Dono-
hoa and Walter H. NARROW, jr. The
president reported an unusually success
ful financial year.
Trust Section Keeping Busy.
The next meeting of the trust section
Of the District Bankers Association Will
take place Wednesday, February u. at
bankers headquarters. At that time
several important committee reports
Eill be presented.
The trust law and legislation commit
zoe has recently asked the banks OF
Washington to offer any suggestions by
rhich it is believed the handling of
trust matters in this city may be facili-
Soted. Several constructive suggestions
are almost certain to follow this inquiry.
Washington Gas Sells at ITO.
/ Washington Gas Light stock sold at
10 on the washington Stock Exchange
soday, off Is points from the price pre-
Failing just before the annual meeting
t7st Monday. Today's sales totaled So
el1ares. The market closed with lot bid
end ITO asked.
Riggs National Bank stock figured in
: good-sized turnover today at 578 and
731k. Ten shares of the Bank OF
9thesda stock changed hands at yes
-rday's new all-time high mark OF n.
ederal-An1erican National moved at
rs.
Capital Traction sold at 1861, Wash
9qton Railway & Electric preferred at
.9Ss and Potomac Electric 51a per cent
referred at I09ls. This corporations
,or cent preferred sold at lib. Mergen-
laler registered 10412 National Mort
age 81 Investment preferred sold to the
ltent of 100 shares at 534.
In the bond division four ST 900 sales
y Railway g. Electric As took place at
So, 9Sl5, 1885, and 1884. Barber &
,oss 6las brought "a. Capital Traction
; closed with a $4,000 bond selling at
0o15. A $500 Gas B moved at 1861.
RedfieId to Head Big Bank.
William C. Redfield, former Secretary
# Commerce, has been elected presi-
Tent of the Brooklyn National Bank OF
View York the largest independent bank
n BROOKLYN 1t is to open on March 10
with capital and surplus of $l,000,000
each. The stock has already been SO
heavily oversubscribed that the allot-
f,1ent committee will not be able to re-
rort for 10 days or two weeks. There
have been 1900 applications for the
sock
Former Secretary Redfield has been
-,csely identified with finance ever since
ne left his cabinet seat several years
ago.
Drive Result Pleases Bankers.
Local bankers were delighted that the
Community Chest drive went over the
top. Some of the leading bankers in
the city have been given the major part
of their time to this campaign for sew
e-al weeks and are being accorded
highest credit for the results. In ad-
clifton to the work in connection with
raising the funds, the newly organized
auditors section of the District Bankers
Association has spent a great deal Of
tine in auditing the accounts turned in
from so many different quarters.
Heard in Financial District.
Charles j. Bell, chairman of the
board Of directors of the American Sc
curity g. Trust Co., Is planning an
early visit to Florida.
Ellie Sheetz, director in the Bank of
Commerce & Savings, has gone to Hot
Springs, Ark, for a six weeks visit.
Charles B. Lyddane, vice president of
the Federal-American National Bank,
IS leaving today with a party of golfers
from the Columbia Country Club for a
To-day trip to Lakeland, Fla.
F. P. H. Siddons, secretary of the
American Security Ss Trust Co., left the
city today for two-week business trip
to New York and Boston.
Edward L. Hillyer, vice president of
the Union Trust Co., continues to show
steady improvement at Emergency Hos
pital, where he has been for many
weeks following two critical operations
Boardrooms Packed to Doors.
Local boardrooms were damned to
the doors when the New York Stock
Exchange opened for business today
The cause of the exceptional interest
was the statement issued over night by
the Federal Reserve Board sounding q
warning over the continued expansion
OF loans in Wall Street for speculative
purposes The substance of the state
ment appears elsewhere in The Star
Market quotations we're much lower al