Evening star., 1930-06-25

Another amendment permits any ma
tional banking association to give Sc
curity in the form required by State
law for State banks to secure deposits
of public funds of State or any po-
1itical subdivision.
The last bill passed will enable ma
tional banks voluntarily to surrender
the right to exercise trust powers and
to relieve themselves of the necessity
of complying with the laws governing
banks exercising such powers.
EndicOtt New Auditors Chairman.
Ralph Endicott, who has been elected
chairman Of the auditors section of the
District of Columbia Bankers Associa-
lion, Is assistant treasurer of the Wash
1ngton Loan SJ Trust Co., where he
has been employed for several years.
He is much interested in civic affairs
and is president of the Michigan Park
Citizens Association. The new chairman
Is already busy on the subcommittee
to be appointed for the auditors section
for the coming year.
AS noted in yesterdays Star. John H.
Hanna, president of the Capital Trac-
tion Co, has just been elected president
of the American Electric Railway Asso-
citation. His business associates here ex-
pressed much pleasure over the distinct
honor accorded him. He has attended
these conventions for many years and
often made addresses before them.
Mr.. Hanna was born December 9,
1871, at Henderson, KY, and was edu-
Gated at Princeton University, receiv-
1ng the G. E. degree. He has been a
Sesident Of the District and with the
capital Traction Co. since 1894. He
eecame its vice president in 1916 and
its president in 1926. He had previ-
ously served the association as first
vice president.
Mr.. Hanna is a director of the Cap
stal Traction Co., Union Trust Co.. Co.
fumbia Country Club and Merchants
and Manufacturers Association. He is
q member and past president of the
Washington Society of Engineers, a
member of the American Society of
Civil Engineers, American Institute of
Electrical Engineers, Board of Trade,
Chamber of Commerce, Cosmos, City
and Columbia Country Clubs, being a
past president of the latter.
Credit Men Award Certificates.
The Washington Chapter of the Ma
tional Institute of Credit awarded GER
tifieates today to those students who
have successfully completed their
courses In Credits and Collections"
and Analysis OF Financial Statement" p"
Lister T. Watts, President Of the local
association, presented the certificates.
In his presentation address he urged
that all members of the association
take an active part in the educational
work of the institute.
c. Vincent Griffin, credit manager Of
the RoSslyn Steel & Cement Co, was
awarded the junior certificate of the
National Institute of Credit for the sue
cessful completion of commercial law,
business English. financial statement
analysis and credits and collections.
Those receiving certificates in Cred
M q
Claggett of Fries, Beall & Sharp Co..
Norman E. Estes of Hugh Reilly Co.,
James r. Horne of Washington Times
c., Felix M. Moriarty of E. Morrison
Paper Co. and Norman Stockett Of
stockett-Fiske Co.
Students receiving certificates in
Analysis of a Financial Statement"
are: Edward g. Diener of j. Carey
King, Inc; c. Vincent Griffin of Ross
lyn Steel & Cement Co., Louis M
Hewlett of Grifhth- Consumers Co.,
Fred McClenahan of j. Carey King.
Inc; E. Lerop Mcintosh of Frank
Hume, Inc; Robert T. Morris of r. P.
of Stockett-Fiske Co. and Martin M
Watson of Dulin & Martin.
Three Banks Declare Dividends.
The directors of the Anscostia Bank,
at meeting held this forenoon, de-
CIdT6Q JIlC regular GudIbeIly QlVlQeuu
of per cent. The disbursement is
payable June 80 to stockholders of rec
ord on June 25, President Maurice
Otterback announces.
The directors of the Security Savings
SZ Commercial Bank today declared the
cent, payable June 80 to stockholders Of
record June 25.
At the regular meeting held today
the board of directors Of the National
Bank of Washington declared the usual
semi-annual dividend of 6 per cent
upon the capital stock of the bank
payable July to shareholders of rec
ord June so.
The Interstate Commerce Commission
has authorized the Seaboard Air Line
Railway Co. to issue s3,5l0000 first lien
5 per cent equipment trust certificates,
$1,000 900 second lien 5l2 per cent
equipment certificates and $50, 900 sec
ond lien 5 per cent certificates. The
first lien certificates will be sold at
1852 and accrued interest, and the sec
end lien issues at not less than par.
Local Market Lower Today.
Quotations were slightly lower on the
Washington Stock Exchange today in
rather light trading.
washington Gas Light stock opened
with 10 shares selling at 1lS and closed
with two selling at lis.
Capital Traction figured in three 10
share sales at SO, exdividend, new
low on the present move.
Mergenthaler Linotype changed hands
to the extent of SIS shares at 81, the
stock still being exdividend. A single
share of Lanston sold at l15
Steamboat rights sold at 1874 ano
16ls Potomac Electric 512 per cent
preferred at 1865, and $50 shares oi
National Mortgage & Investment pre-
ferred at S.
Bond trading was confined to Rail.
way g. Electric As at IS and 81 ,00C
D. c. Paper IS at so.
Latest Financial District Notes.
Today's announcement of the elec.
zion Of Francis G. Addison, jr., as presi.
dent of the Security Savings & Com.
mercial Bank, will be most enthusias
tically received by his host of friends
in the banking district. The action wa
requested by Julius I. PeySer, who hai
been made chairman Of the board, afteI
IT years able service in building up th'
institution, which he organized.
Norfolk & Western Railway, in frs
five months earned S8.26 a share oil
1.406,507 common shares, as agains
1881 a share on 1,404, ,467 shares in lik
1929 period.
Virrinian Railway Co. reports for fiv
months ended May 81. 1880, net incom
of sI,601 ,075 after taxes and charges
equivalent, after dividend requirement
on 6 per cent preferred stock, to $3.52
share on 312,715 shares of commo
stock. This compares with So, 1872 ,5e2, o
S4.74 q share on common stock, in firs
i've months Of 1929.