Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-19

lContlhued from First Page)
tinental Trust Ce. in charge OF the
Womens department.
The board of directors announced at
the conclusion of the meeting is made
up from the two boards. IT includes six
present or former directors In the Con-
tinental, the remainder being selected
from the commercial roster. The merged
banks directorate Is composed of the
following;
James H Baden, Charles eanard.
Wade H. Cooper, H. Bradley Davidson,
z, Q. Davidson, w. j. Harrison. Charles
a, Goldsmith. Hayden Johnson, Hel-
connie @. johnson, James L. Karriek,
James 3. Reynolds, A. M. Rink, Percy
u. Russell, James Sharp. Laurence A.
slaughter, Emmons s. Smith, jr: Ma
than d. Scott. I'd, Ralph d. Quinter,
George FULLY Vaughan and Bates War
rem. Mr.. Denaldson. In retiring as
president Of the Commercial, slse re-
tired FROM the board of directors.
The merger is one of the most i'm
portant moves in local banking circles
in several years. Mr.. Cooper has been
head of the United States Savings
Bank, as well rs of the Continental di-
viding his time between the tive insti-
tutiens. While the officials of the con-
Solidated bank assert that there Is a
possibility of further mergers later that
might build up an institution with re-
sources of $4,000, 600, it is definitely
stated by Mr.. Cooper that the United
States Savings Bank is not being con-
sidered in connection with any merger
at present. He expects to retain his
position at the head Of this bank.
Plans toward the possible conSolida-
ton of the Commercial and the Cent?
tental we're instituted several weeks ago.
Conferences at first pointed to an early
agreement. But committees represent
ing the two banks soon struck some
bafiiing snags and the negotiations
were dropped, only to be quietly revived
later and conSummated rather suddenly.
The Commercial National Bank Is
26 years old, having opened for bust
ness on October 10, 1904, in banking
rooms which then occupied the present
site. In few years the banks growth
demanded larger quarters and the in
stitution built the present home. The
Commercial Is now one of the largest
financial institutions In the city.
The Continental Trust Co. was eS-
tablished 10 years ago. September l, on
G street. moving to its present loca-
tien, at Fourteenth and H streets, six
years ago. The late Nathan b. Scott.
former United States Senator, was
president of the bank for many years.
B. Scott, I'd. is one Of the assistant
cashiers of the merged bank.
Mr.. Cooper, who takes the helm of
the new bank, is . native of South Car
DINA. He was educated in public and
private schools and for some years en-
gagged in the practice of law. While
resident Of Nashville. Tenn, he served
on the staff of former Gov. Taylor.
When he first came to Washington
he practiced law. He was elected to
the presidency of the United States
Savings Bank in 1910, president of the
former National Savings Bank in 1912
and of the Continental Trust Co. in
1920. He served on important Liberty
Loan and war relief committees, Ii q
member of the District Bankers Asso-
ciatian, the American Bankers Asse-
citation and q director in several cer-
porations here and in New York.
Col. Cooper Is also . member of the
Washington Board of Trade, Chamber
Of Commerce and many clubs. He Is o
Methodist in religious affiliations and
independent In politics.
The combined institution is in q posi-
ton to offer every banking service. The
consolidated stats will work today TO
unite all departments in readiness fer
tomorr0W's cambined business under a
single roof. The Commercial owns its
own building, while the Continental has
been housed in rented quarters.
Commercial National Bank stock sold
on the Washington Stock Exchange yes
terday ct e2S0 per share, while the last
sale Of Continental Trust was recorded
at 4l32