Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-04


tzSaaa sold to the extent
J.hr u.nr. Of 10 shares at 81.
Poto mac Electric
Power 5ia per cent preferred came out
at lO7I5 and IS shares Of Railway &
Electric preferred moved at 972s.
Firemens Insurance Co. figured in q
100-share sale at 40h, Merchants
Transfer & Storage came out at Ill and
Federal-American Co. preferred at los.
In the bond division Washington Gas
Is, series A, brought 1922, while the
B bonds sold at 104h, 104& and los.
Potomac Electric Power IS came out
at 108, Capital Traction SIS commanded
99N, Washington Gas IS figured in a
$1,000 transfer at 101 and Washing
ton Railway & Electric recorded q
$1,000 sale at S61s.
Merchants Bank Has New Head.
AS noted elsewhere in today's Star,
Peter A. Drury resigned as president OF
the Merchants Bank & Trust Co. at a
meeting of the directors held yesterday
and was at once elected chairman OF
the board.
Rolfe e. Boiling, for several years first
vice president of the trust company,
was elected to the presidency. COM
pleting one of the most important
Cn1ORGS III UdIlh O11lCAcAo AA NAAA0 NASJ NS~
long time.
Mr. Drury retired at his urgent per-
sonal request, feeling that he is entitled
10 take life bit easier. He is the only
president the bank ever had and has
i,cnedered brilliant service, as Is SHOWN
by the institutions growth.
OF the new president, Mr.. Drury said
today: HE is well known, experienced
End conservative" Mr.. Bolling's record
bears out the statement.
March Traffic Improved.
President John A. Hanna. president
IF the Capital Traction Co., IN !etter
n stockholders conveying the $1.75 per
mare dividend checks reported an i'm
rroyement in March trafi1c and also
noted a new agreement with the COM
pany's employees. He said:
"The agreement between the COM
rany and its organized employees
executed in March, 1925. expired on
March 80, 1929. A new agreement was
Cyecuted on March 20 Of this year after
reQotiations with representatives OF
he employees. This new agreement
provides for improvement in working
conditions at the same rate OF pay
which was in effect throughout the
t,rm of the three-year agreement Just
e.,pired. The new agreement is similar
n the old one in that 1t is for period
cf three years and provides for re-
consideration Of the wage rate at the
md of each year on 80 days notice py
ether party.
carried In January and February de-
leased as compared with last year,
rfarch trafic shows an Improvement
r-,or March fQ1N
Chapter Has Busy Calendar:
The April calendar of the Washing.
ton Chapter, American Institute OF
Banking. Is one Of unusual activity.
according to President James A. Soper
this schedule provides for the nominal
ton of delegates to the Tulsa conven.
lion on April IL, and the election OF
convention delegates on April rs. The
rnidyear open meeting will be held
April Is in the auditorium OF the new
Mckinley High School, where nrst
semester certificates will be presented,
End a program Of entertainment onereo
by the women's committee. On April
:s chapter officers will be nominated
for the new year. The annual election
il to be held May ..
At n meeting of the campaign COM
n,ittee last night at headquarters,
further plans were perfected for push
ing the election of T.. Hunton Leith
10 the executive council Of the national
organization.
Transfer Company Purchased.
Announcement is made today that
the Big Four Transfer Co. Of Washing
ton. which has been operating long
distance moving company for the past
10 years, has been taken over by the
United States Storage Co., 418-2O
Tenth street.
walter w. Hall and Paul E. Tolson,
formerly president and secretary, re-
spectively, of the Big Four Transfer
Co. have afiliated themselves with the
storage company to manage and operate
The long-distance removal department
for the United States Storage Co.
Heard in Financial District.
John B. Larner, president of the
Washington Loan & Trust Co., who Is
confined at the George Washington
Hospital as the result of fall in which
enc of his legs was injured, Is reported
as showing steady Improvement.
Charles ]. Bell, who recently under
went an operation at the Episcopal Eye
Ear and Throat Hospital, has been
making steady recovery.
r. Golden Donaldson, president Of
the Commercial National Bank, is still
in Florida, where he has been baskins
in the sunshine for several weeks.
The board of directors of the Metro.
politan Bank yesterday declared thu
regular semi-annual S per cent divi.
dend, payable April Is to stockholders
of record. Books will be closed from
April to April IA.
Since the bank call Of March ~ th'
Riggs National Bank has published {
statement for mailing to deposition
which shows total resources Of $50.
100000.
Carried Right to Golden Gates.
In his talk to washington banker
the other evening, Register of viii
Theodore Cogswell was reminded Of TIL
story of the lawyer who said 70 hi
client:
'FIow's this? In your viii you hay
named six bankers TO be your pail
bearers. OF course, that Is all right. bil
wouldn't you rather choose some friend
with whom you are on better terms?"
mo" he said, those fellows hav
carried me for so long they might q
we'll finish the job
one Of the bankers present opine
that the same could be said Of sewers
present residents Of Washington an
it would not be far from the trutl
either, although this man was not look
ing for any selection as pallbearer.
Merger Plan Advanced.
$3.50, -v-xxr A~.;, I'M ct<nb