Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-04
JACOBSEN IS NAMED
CONVENTION AIDE
Bank Official to Head Pub.
,licity Committee--Leith
Vice Chairman.
By EDWARD c. STONE.

By EDWARD G. STONE.
G. F. jacobsen, cashier of the Ma
tional Metropolitan Bank, was appointed
today to be chairman Of the Publicit,
and Press Committee for the 1881 con.
vention of the District Bankers Asso
citation by Frederick p. Fl. Siddons, whS
is chairman of the General Convention
Committee. At the same time T. Hun.
ton Leith, assistant cashier OF the Sc.
curity Savings & Commercial Bank
was appointed vice chairman of thil
committee
Mr. Jacobsen was born in Washing.
ton in 1884, attended the public school:
and graduated from Emerson Institute
He started his banking career In Balti.
more, but shortly thereafter returned
to washington and entered the employ
of the National Metropolitan Bank
where he has remained for 81 years, the
last ID Of which he has held the po-
sition of cashier
He has already done much work fol
the bankers association. From 1925 tx
1927 he was member of the Commit
tee on Standardized Banking Forms
in 1926-29 on the Treasury Relations
Committee, in 1929-30 on the Credit
Bureau Committee and during the pres
: ent year chairman of the same COM
nlittee. Mr.. Jacobsen is a member OF
the Washington Board Of Trade and 9
member of the Clearing. House Commit
tee of the local Clearing House Asso-
citation
Leith Active Young Banker.
M. Leith, the new vice chairman,
was born in Eoudcun County, Va, and
attended the public schools in this city
and Business High School. He is a
graduate of Washington CHAPTER, Amer
lean Institute of Banking, q past pres
ident of the chapter, and Is now serving
as O. member of the executive council
of the national organization, this work
bringing him in contact with Institute
chapters all through the South.
Mr.. Leith entered the employ of the
Security Swings g. Commercial Bank
in 1914 and served overseas IN the
A. E. F. In the 60th Artillery during the
World War. For three years he has
been a member of the District Bankers
Association Standing Committee en-
Publicity and is vice chairman of that
committee this year. In 1928-1929 he
served on the Advertising Committee.
He is also editor Of the monthly
bullstin Of the District Bankers Assoc
citation, this publication having been
considerably enlarged during the pres
ent year.
Company Declares Dividend.
tional Mortgage e. Investment Corpo-
ration announced today that the di-
rectors have declared 2 per cent diyi-
dend. The disbursement Is payable on
January 10 to shareholders of record
December 90
The directors of the company were
highly gratified that business war
ranted payment of a per cent return
at this time. 1t is not a semi-annual
Gn I1cf no
the company paid the same amount six
months ago.
Mr.. Shick stated that the manage
ment has been much pleased with the
business done during the present year,
especially in spite of the depressed con-
ditions prevailing all over the country.
While the corporation still has frozen"
assets, the officials feel that they have
no cause for complaint.
The company's preferred stock has
been listed on the Washington Stock
Exchange for several years, and Is
widely held in this city. 1t was quoted
today at bid and 50 asked.
Today's Trading on Exchange.
Bonds were quite active on the Wash
ingtcn Stock Exchange today, the is
sues changing hands being Washington
Gas. Washington Railway and Electric,
Barber 81 Ross and Capital Traction
bonds. Prices were steady.
Small-lot sales in Mergenthaler were
prominent In the stock division, S8ka
being the quotation. Washington Rail-
way and Electric preferred came out
at 98A and Potomac Electric So per
cent preferred sold at 1919.
Fifty shares Of Federal american Co.
common came out at 295 and 10
shares of Real Estate Mortgage g. In
vestment preferred changed hands at
6hs.
It was announced that the directors
of Emerson's Bromo Settler have de-
clared 50-cent dividends on the class A
and B stocks, payable January 2 to
stock of record December is.
Capital Traction books will be closed
from December 8 to January 8 in con-
nection with the next dividend pay
ment.
Mount Vernon Votes Bonus.
The directors of the Mount Vernon
Savings Bank yesterday declared the
annual per cent bonus for all officers
and employees of the bank, the Christ
mas disbursement being based on an
nua1 Salaries This action carries out
the banks policy Of several years dura-
ton.
John M. Riordon, vice president of
the Bank ofaCommerce a. Savings, has
furnished the District Bankers Associa-
ton with information which he OBJ
tanned regarding several important re-
cent legal rulings by the general counsel
of the American Bankers Association.
r. p. Andrews, president of the r. p.
Andrews Paper Co. of this city, has
announced adoption of cooperative
retirement program as another step
toward completion of the companys in
dustrial relations plan. approximately
100000 of group life insurance is now
in force on these, and with the in
sured annuities they are now protected
against old age. All employees actively
engaged December 81, date the plan is
effective, win be eligible to participate
in annuity benefits.
A good year for the automobile tire
industry in 1881 is forseen by @. M.
p. Murphy 81 Co. The outlook based
on the statistical position of the in
dustry is considered favorable, for three
reasons. the possibility of increased
production and of wider margins of
profits, and the improbability Of inven-
tory losses.
Par Value Reduced.
At a special meeting OF the stock
holders of Woodward g. Lothrop yes
terday, It was voted to change the
common stock from the present issue
of $4,000 shares of the par value of
500 each to 25o,O00 shares Of the PAR
value of SO each. No change was
made In the present structure of the
preferred stock or In the capitalize
ton of the corporation. The capitali-
ton is for $4s5O0,00 and represents
10000 shares Of preferred at 500 each
and $4,000 shares Of common at 500
each.
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RAW SILK FUTURES.
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