Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-24
ADVERTISERS NAME
POOLE AS DIRECTOR
New Head of Association De-
fines Policies for Promot-
ing Bank Business.
BY EDWARD C. STONE.

F. r. Herman, vice president Trans
america Corporation at San Francis CT
was elected president of the Financis
Advertisers Association at the con
clusion of the Louisville convention.
John Poole, president of the Federal
American National Bank of this city
was elected one of the directors. Othe
officers elected for the year included:
First vice president. c. H. Mcmahon
vice president First National Bank. De
troit; second vice president, H. A. Lyon
advertising manager Bankers Trus
Co, New York; third vice president
Alva G. Maxwell. Citizens & Southern
National Bank, Atlanta: treasurer E. A
Hintz, cashier Peoples Trust g. Saving;
Bank, Chicago.
Mr.. herman, the new president, ha.
been active in advertising work fol
many years and has been a leader ir
activities in the association.
At the final session Chester L. Price
IN charge of the business extension
activities of the National Republic
that newspaper advertising to be eff
fective. should be consistent and per-
sfstent, both as TO continuity of inser-
ton and the continuity of a dignified
distinctive style. Very little can be
gained, he said. through the spasmodic
insertions Of advertisements in the
papers. 1t is only by being constantly
before the public that a bank can hope
70 obtain position of dominance.
Association HOnOrs A. X. Paris.
At a special meeting of the District
Bankers Association resolutions paving
special tribute to the memory of Albion
X. Paris we're unanimously adopted
The resolutions will be placed upon the
records and also forwarded TO the rela-
tives.
Following the death of Mr.. Paris,
the Washington Stock Exchange also
paid special tribute to the veteran
financier who was one of the founders
OF the Exchange. The Exchange was
represented at his funeral by Eugene E.
Thompson. Thomas w Brahany. Car
roll Glover, E. L. Hillyer and Y. E.
Booker.
American Ice Earnings Gain.
Net earnings of American Ice Com
psny and subsidiaries for August after
interest, but before Federal taxes and
depreciation, were Sl,00S,717. This COM
pares with S920.217 for ADJUST last
year, gain of 9.5 per cent.
Loew's, Inc, reports for 40 weeks
ended June 6, 1880, net profit of SILL
78l.924 after taxes, charges, depreci-
alton, etc, equivalent after estimating
subsidiary preferred dividends and al
lowing for dividend requirements on
146,763 shares of $3.50 preferred stock,
to 1854 a share on 1.414.351 shares of
no-par common stock. This compares
with net profit in corresponding period
OF previous fiscal year, of S8215, 034
which computed on above basis is equal
TO $5.12 share on the common stock.
Commodity Prices Lower.
The wholesale price index of the
National Fertilizer Association for the
week ended September 20 showed a de-
crease of eight fractional points, bring
ing the index number TO 84.5, new
low for the present year. Last week the
index stood at S5.3 and a year ago it
was e7.6.
The group of fats and oils was the
only one showing an increase for the
last week. Seven groups declined and
the remaining six showed no change.
Prices of 40 commodities declined
while only Is advanced.
Lively Trading on Exchange.
Trading was more active than usual
on the Washington Stock Exchange to-
day It opened with 81 900 Washington
Gas series A bonds selling at 1924.
Capital Traction IS moved at 1914 and
s31z.
Potomac Electric consolidated SIS
came out at io3, and good-sized sales
were made in Washington Gas IS at
10434 and 104M
Capital Traction stock figured in a
50-share turnover at so, ex dividend.
Potomac Electric 51z per cent preferred
changed hands at 10814, while the per
cent issue moved at ILL.,.
Three bank stocks came out Ten
shares of District National sold at Ill,
4 shares of Washington Loan & Trust
at ATS and 10 shares of Merchants
Bank g. Trust Co. at 1r2la.
Stockholders Get Merger Notices.
The stockholders of the Federal
American National Bank and of the
Merchants Bank 81 Trust Co. have been
notified of the merger negotiations and
of the date, October 20, on which they
are to vote on ratification. The notices
announce that the detailed terms of the
proposed merger can be seen by the
stockholders at the. respective banks.
The terms, as already announced, cover
the proposed new name, the plan of
exchanging six shares of Merchants for
four of Decentralization and the inten-
ton to reduce the par value of the stock
expected that the merger will become
effective on November l.
Cleaned in Financial District.
William E. johnson, assistant to the
president of the Federal-American Ma
tional Bank, is taking his annual vaca-
ton. He Is spending part of the time
at the Blue Ridge Club.
Vice President Charles B. Lyddane
Of the same bank is attending the open
golf championship tournament at Ard
more, Pa. He is accompanied by Al
bert Mackenzie, James E. Baines and
Hugh Faum.
Norfolk g. Western Railway eight
months net $1431 a share on 1,406,507
common shares, against $1T76 share
on l ,404 637 shares in like 1929 period.
Production Of small cigarettes during
August totaled 10,577, 437, sos as COM
pared with 1o.930, 628 $50 during August
a year ago, Bureau of Internal Rev.
enue figures show.