Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-15
FOX IS REELECTED
BY NATIONAL UNION
District National Bank Off
, GERS and Employees CeIe-
! brate Drive Results.
BY EDWARD C. STONE.

president for the twenty-ninth consecu-
tive year. Before the election of officers
the stockholders named the following
directors for the coming year: Charles
r. Brown, Floyd E. Davis, Albert. F
Fox, C. E. Galliher, Holcomb @. john
son, J, Leo Kolb, John B. Larner, Wal
Ter S. Pratt, jr, B. F. Saul and Fritz L.
Sandoz.
The board subsequently organized by
the selection of the following officers:
Albert F. Fox, president; B. F. Saul
vice president: John B. Larner, vice
president: William II. Somerven, secre-
tary; William H. Marbury, assistant
secretary.
The charter of the company bears the
signature of Abraham Lincoln and VIII
liam H. Seward, having been organized
in 1865. The company'S Offices are To-
Gated at 9l8 F. street northwest.
Bank Celebrates Drives Results.
The officers and directors of the Dis
trict National Bank gave dinner at
the Congressional Country Club last
night to the employees, who have been
engaged in a campaign for new business
since April H. President Joshua Evans
jr., reported that the goal of 81 900, 600
in cash business, rental of safe deposit
boxes or new trust business had been
more than attained. Mr.. Evans pre-
sented prizes to the winning teams, the
first prize an extra weeks vacation and
a substantial cash consideration going
were Herman o. Sikorra, Gary w.
Hauptman, Walter Rooms and Paul
Gardner, all of whom received cash
prizes.
A silver loving cup was presented by
Col. Robert N. Harper, chairman OF the
board, to the team scoring the greatest
number of honor points. President
Evans captained this team, assisted by
William H. Martin, director.
Among the officers and directors at
tending the dinner last night were:
Joshua Evans, jr., president; w. P.
LipScomb, G. j. Gockeler and G. G.
Rogers, vice presidents; H. l.. Offutt,
ir., cashier William c. LOCKER, Theo-
dore S. Mason, Arthur M. Atkinson and
Raymond P. Lochte assistant cashiers
B. L. Cotton, trust officer; Ralph p.
Barnard Charles ]. Brand, Sidney 1.
Besselivre, John W. Childress, A. P.
Crenshaw, Charles W. Darr, Arthur l..
Day, Atwood M Fisher, Eugene C. Colt.
w. Charles Heitmuller, j. Miller Ken
yon, Marshall L. King, w. H. Martin,
John F.. Maury, Frank w. Mondell, E.
j. Murphy, Robert Lee OBrien. Horace
G.. Smithy, H. l.. Thornton, Joseph P.
Tumulty, Leon S. Ulman and Chester
Wells.
TOday's Trading on Exchange.
In quiet trading on the Washington
Stock Exchange today Washington
Railway G. Electric preferred sold at 98
Federal-American National Bank stock
at 275, Merchants Transfer & Storage
preferred at SO, Mergenthaler Linotype
at 81 and Potomac Electric Power 5i5
per cent preferred at 107l2.
During the session 400 shares of Ma
tional Mortgage g. Investment preferred
changed hands at 47s and Is shares of
Norfolk e. Washington Steamboat rights
came out at 1914. Bond trading was
limited to Washington Gas 6s, series A,
and to Capital Traction IS.
An important stock sale in the I'M
listed department was 100 shares of
Chaplin Sacks per cent preferred
at lot.
Institute Rooms Changed.
Changes in the headquarters of the
District of Columbia Bankers ASsocla-
ton in the Becker Building are soon
to be carried out in order TO provide ad-
ditional classroom space for the Amerl-
can Institute of Banking students
Washington Chapter has grown to such
proportions that present arrangements
are inadequate.
President McLachlen recently ap-
pointed a special committee to map out
the necessary changes in the way of re-
modelling. This committee includes
George o. VaSs, Riggs National Bank;
Wilmer j. Waller, Federal-American
National Bank, and Frank M. Perley,
American Security Trust Co., who is
president of Washington Chapter, A.
I. B.
1t is also announced that arrange
mentS are to be carried out at head
quarters so that the assistant secretary
of the association and the new manager
Of the credit bureau will have separate
Offices
The July Bulletin of the Bankers AS
ISOLATION contains the resolutions pass
ed on the recent deaths OF DR.. Frederick
z. harrington and Alexander Wolf, both
of whom were members Of the aSsocia-
ton. The Bulletin also announces that
the book of printed proceedings at the
recent annual convention at Asheville,
N. c., is nearly ready for distribution.
Fleming Points Out Crash Lessons.
In the latest issue of the American
Bankers Association Journal, Robert V.
Fleming. president of the Riggs Ma
tional Bank, contributes an article on
the way to Profit From the Market
STdSIl. lie dIIlCl6 COlllolilS iildl4g III
the points in his fine address before
the District Bankers Association at the
Asheville Convention.
The local banker takes the ground
that banks should at all times be ready
to meet unexpected conditions beyond
their control They should aim to be
a bulwark of safety and at the same
time maintain a policy liberal enough
to stimulate general prosperity in the
communitV
Mr.. Fleming makes it clear that he
believes the stock market cloud had a
silver lining. If the bankers of the
country learned certain lessons thor
oughly.
Heard i'm Financial District.
The Federal Reserve Boards condi-
ton statement of weekly reporting
member banks in leading cities on July
9 shows a decrease for the week OF
S93 .0OO, 900 in loans and investments
Sl53.000 900 in net demand deposits
sac. 900 900 in Government deposits and
$4,000 900 in borrowings from Federal
Reserve Banks and an increase OF SILL
100000 in time deposits.
Local bank officials report that there
has been a steady increase in deposits
since the controllers call Of June 80
This is partly due to the host OF divi'
bends paid on July and to the re-
turn of funds withdrawn to avoid tn
intangible tax. A strong effort to builC
up savings accounts is still noted here
Vice President Joseph Sanders of tn
Bank of Commerce 81 Savings will en-
terrain the banks. officers and director
at his country home over the coming
week end
W. w Spaid of w. b. Hibbs q CO
has returned to the city from 10 day
spent at the Homestead at Hot Springs
Va.
Norman E. TowSon, an assistant treas
urer Rnd the manager of the foreign