Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-20
POPE TAKES HELM
FOR D. c. BANKERS
Munsey Trust Co. Official
Assumes Duties of Late
Edward ]. MCQuade.
BY EDWARD C. STONE.

BY EDWARD c. STONE.
c. H. Pope, first vice president of the
District Bankers Association, was sud-
doaly called upon today to assume
charge of the affairs of the local as
ISOLATION, following the tragic death in
Baltimore late yesterday of Edward j.
McQuade, this years president OF the
association and also president OF tne
Liberty National Bank.
Mr.. Pope, who is vice president OF the
Mltnsey Trust Co, announced tooay
that a meeting of the council OF ao-
ministration OF the ASSOCIATION mao Deeit
called for 4 o'clock this afternoon at
which time the bearing of Mr.. NC
0uade's death on the program Tor the
present year was to be carefully con-
sidered. All the standing committees
forithe wear were named several months
ago and the work has been moving
along smoothly and successfully.
Upon Vice President Pope's shoulders
today fell the duty of appointing q
committee of local bankers TO attend
the, funeral and TO name a special COM
mittee to prepare suitable resolutions on
the passing of one of the organization S
most esteemed members. Only lew
DAYS ago ME- McQuade was called upon
to name similar committee following
of the Washington Loan & Trust Co,
of Joseph Schiavone, president OF the
International Exchange Bank
Bankers Praise Deceased Official.
Most generous tributes were paid the
memory of Mr.. McQuade by an ms
banker friends in the financial dlstrlct
today. His ability as a banker, his great
energy in climbing the ladder OF sue
cess his linstinted efforts in behalf OF
the bankers association and the local
chapter of the American Institute OF
Banking. and his strong personality were
all mentioned by those who knew MN
best. .,.
He did an amazing amount of work.
One of the best examples of his eXcep-
tional ambition and penchant for work
is the fact that he was SO years ola
when he started the study OF law De
cause he felt it would be such help
To him in the banking field. He COM
pleted his law course. took his degree,
became a member of the District par
and a. first-class trust officer in his BANK.
Bankers today commented on the ex-
cellent condition of the Liberty Bank,
as shown by the controllers last call on
September "a The statement printed
after the call showed an unusually liquid
position.
An. EXpHTleuCCu
Mr.. McQuade was a thoroughly train
ed banker, who was always studying the
latest progressive moves IN oank man
agement. as well as conservative pol4cAes
of investment.
OF particular value to the District
Bankers Association was Mr. NC
Quade's work as chairman for several
wears of the Committee on Standard
lied Forms. He made an intensely close
study of this problem and gave the
other bankers Of the city the full bene-
fit of his findings. All his committee
renorts were complete to the last word.
The Liberty National Bank is now
in charge of M F. Calnan, vice presi-
dent and cashier who has been with
the institution for years. One OF the
largest stockholders in the bank is
.JanTes O'Donnell, best known in WASH
ington as the owner of many drug
stores. Mr. McQuade was associated
with the late George o. Watson in the
founding of the Liberty Bank and had
been with it ever since, being made
president last April on the death of
Mr.. Watson.
Many bankers visited the bank today
and extended sympathy to officials and
directors. Few bankers in the District
had more friends. The late l. A.
Fleming once said: st love Ed McQuade
as much as I do my own SON"
Special Committee Appointed.
C. II. Pope, for the Bankers Associa-
ton, appointed a committee this noon
to draft suitable resolutions on Mr..
McQuade's death. The committee in
cludes Thomas NJ. Littlepage, counsel
and a director in the Liberty Bank,
chairman; Howard Moran, vice presi-
dent, American Security & Trust Co.,
~ z Va
will be adopted at the special meeting
of the association called for next Mon
day to act on similar tributes to Messrs.
Larner and Sehiavone.
out of respect TO Mr.. McQuade's
memory, washington Chapter, Aneri-
can Institute of Banking Cancelled the
card party set for tonight at the VIII
lard Hotel.
Today's Trading on Exchange.
Potomac Electric Power per cent
preferred sold at 110l2 ex-dividend on
the washington Exchange today. At
the same time Potomac Electric Power
6 per cent bonds moved at 1912.
Several other small transactions were
recorded during the session in both
stocks and bonds. Capital Traction SIS
moved at IL. Mergenthaler Linotype
sold at So in two tiny lots.
Close study of the Mergenthaler
Linotype report shows an exceptionally
strong financial position, considerable
favorable comment being heard among
brokers.
C. G. o. Reports Earnings.
The report of Chesapeake & Ohio
Railway Co. for 10 months ended
october 81, 1881 shows net income of
S24.237,333 after taxes, charges and
sinking fund appropriations, equivalent
after allowing for dividend requirements
on 61a per cent preferred stock to $316
a share (par $3.50 on 1861 ,28l shares
of common stock. This compares with
$28.851, 634 or $3,77 a share on 7,654,704
common shares in first 10 months
of 1880
october net income was S3l152 POI
after taxes, charges and sinking fund
appropriations, against S3,803,377 in
october, last year