Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-20
MERGED BANKING
FIRM STARTS WORK
Col. Cooper Assumes Presi-
dency of Commercial Ma
tionaI Institution.
BY EDWARD c. STONE.

The consolidated Commercial Ma
tional Bank and Continental Trust
Co. started doing business this morn
ing under the same roof in the Com
mercial Bank Building, following con-
summation of the merger late Satur-
day when Col. Wade H. Cooper became
president of the combined institutions.
All the physical assets of the Conti-
mental Trust Co. were moved from the
bank, at Fourteenth and H streets
northwest, between closing time Sat-
lirday noon and this morning, and the
Continental's business was being trans
acted today as usual amid the new sur
roundings. The transfer of all securi-
ties in the vaults. the bookkeeping and
other departments was made without a
hitch.
Announcements to all depositors of
the Continental Trust Co., signed by
Wade H. Cooper, were mailed yeSter-
day and delivered this morning. The
merger notices said:
Continental DepositOrs Notified.
81 am pleased to advise you that the
Continental Trust Co. has merged with
the Commercial National Bank, and
our records have been transferred to
the Commercial National Bank, at
Fourteenth and G streets northwest.
"You will find every convenience and
accommodation at the new quarters.
and your old friends will have the time
and facilities to give you better service
Check books of the Commercial Ma
tional Bank are being made for you,
but until you call, you may continue
to use your Continental Trust Co.
forms.
I'VE will be happy to welcome you
in our new home. and We hope you
will find it convenient to call soon."
New President Congratulated.
In his new Office today President
Cooper of the Commercial National re-
ceived many hearty congratulations.
While this merger may be the initial
step in the merger with other banks
in the city, officials are too busy just
now to consider any enlarged plans for
the future that may be in the backs
of their heads. All were busy today
getting the wheels we'll oiled to place
the consolidated bank. in perfect run
ming order. Business is already run
ming along as smoothly as a mill pond
Col. Cooper said.
The bank started out today under the
guidance of these officials: Wade H.
Cooper, president; James B. Reynolds,
James H. Baden, Laurence A. Claughter,
Walter j. Harrison, vice presidents; Fred
erick H. Cox, cashier; Robert A. Cis-
sell, controller; Herbert v. Hunt, T.
Blackwell Smith, Alexander Varela, M.
2. Showalter, r Jesse CLANCY and
Nathan B. Scott, I'd, assistant cashiers;
Ralph D. Quinter, trust officer, and Miss
Mary j. Winfree in charge of the won-
ans department.
The new board of directors elected
Saturday consists of James H. Baden,
Charles Conard, Wade H. Cooper, H.
Bradley Davidson, E. c. Davidson, w.
j. Harrison, Charles A. Goldsmith, Hay
den johnson. Holcombe G. johnson,
James l.. Karrack, James B Reynolds,
A. M. Rizik, Percy H. Russell, James
Sharp, Laurence A. Slaughter, Emmons,
Ralph D. Ouinter, George Tully
Vaughan and Bates Warren. r. Golden
Donaldson. in retiring as president of
the Commercial. also retired from the
board of directors.
Merger BY Stock Purchase.
The merger was made effective
through the purchase by Col. Cooper
and a number of his associates of a
large block of Commercial National
stock from Mr.. Donaldson. Commercial
National stock has been selling on the
Washington Stock Exchange between
$50 and 260 for a long time. Cont
mental Trust stock has been selling
around 1873
AS the board would have been too
large, it was not possible to include all
the directors lin the two banks in the
new directorate. The board formerly in
charge of the Commercial was composed
of James H. Baden, Robert A. Cissel,
Charles Conard. F. H. Cox, H. Bradley
Davidson, E. G. Dawson, r. Golden
Donaldson, w. j. Harrison, Hayden
johnson. Holcombe G. Johnson, James
B. Reynolds, A. M. Rizik, Percy H
Russell, James Sharp, Laurence A.
Slaughter, Emmons s. Smith, jr., and
George Tully Vaughan.
The directors guiding the Continent
tai Trust Co. have been Mr.. Cooper,
c. C. Calhoun, David A. Baer, Norman
Fischer, Victor j. Evans, Charles A.
Goldsmith. Frank T; Hines, James L.
Scott. I'd; Luke Strider. Conrad H.
Syme, william Clark Taylor, D. W.
Thayer and Charles w. Warden.
The present merger is the first bank
consolidation in Washington since the
Farmers & Mechanics National Bank
combined with the Riggs National. The
last merger previous to that was the
taxing over of the Central Savings
Bank by the Security Savings g. Com
mercial. While the merger discussions
were started several weeks ago they
were dropped for a time. When re-
vived. they were consummated very
suddenly.
Washington Gas Sells Higher.
Business on the Washington Stock
Exchange today was hit by the cold
wave or else was still suffering the after
effects of the break on the New York
Exchange. But five stocks and one
bond appeared on the board.
Fifteen shares of District National
Securities preferred sold at go, five
shares of Federal-American Co. pre-
ferred came cut at 100 and 100 shares
oI Real Estate Mortgage g. Guaranty
preferred changed hands at 7.
After call five shares of Washington
Gas Light stock sold at los. This was
an advance of nearly 10 points over the
last sale. One transfer was made a
few DAYS ago of 20 shares of this stock
at 9612. the first time the stock had
sold under 100 for considerably more
than a year. The stock now selling eX
dividend, closed with 100 bid and ITO
asked.
The final stock sale was in Washing
ton Railway & Electric preferred at 94M
and the only bond sale was $1,000
Washington Gas IS, Series A, at 1924
Financial District Notes.
Ralph NJ Wolfe, manager of the bond
department of the Washington office OF
Mackubin, Goodrich e. Co., has gone
to Houston, Tex, and vicinity on tour
Vi lIlSpeCl!OIl Vi lIlt pIOpciLlco Va lhS
Houston Natural Gas Corporation, the
Houston Pipe Line and the Houston Oh
Co. in connection with an offering oil
collateral first mortgage per cent
bonds of the Houston Natural Gas Cor
poration. Earnings of this company
have been highly satisfactory.
George H. Morris, E. E. Fisher w. E
Brooks, Mrs. Mildred F. Hoeke, Mrs
Elsie M Boteler and Miss Eva Kicker
made up the committee in charge o.
the dance given hV The RiooS Ranb