Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-02
YERKES IN. CHARGE
OF BANKERS UNIT
New Chairman of Safe De.
post Section Succeeds
F. H. Cox.
BY EDWARD c. STONE.


Joseph D., Yerkes, Federal
National Bank e. Trust Co., has been
elected chairman of the safe deposit
section Of the District of Columbia
Bankers Association for the coming
year. succeeding Frederick H. Cox,
cashier Of the Commercial National.
H. w. Ireland. American Security
e. Trust Co., was elected vice chair
man at the annual meeting and Earle
NJ. Amick, Riggs National, secretary.
Previous to the election of officers, the
following were elected members Of the
executive council:
J. M. Boteler National Savings &
Trust Co.; Earl M. Amick, Frederick
H. Cox, H. w. Ireland and Joseph D.
Yerkes. The council organized at once
by electing the above officers
The annual report presented at the
Hot Springs convention showed that
this section had very active year.
Many matters of special Importance in
safe deposit work we're discussed. sew
eral safe deposit men from Baltimore
and Philadelphia presenting their ideas
on safe deposit matters at the meet
ings held here.
Made Assistant Trust Officer.
President George w. White of the
National Metropolitan Bank announced
today that Miss Winifred S. Burwell
was elected assistant trust officer at
a meeting of the directors late yester-
day.
Miss Burwell has been with the bank
about seven years, having had con-
siderable banking experience in Cleve-
land before coming to Washington.
oil IN, Inay nh
ton for a time.
She is an active member of the
Washington Bark Womens Club and
leader in Washington Chapter. Amer
lean Institute Of Banking. She is at
present chairman of the Womeu's Com
n1ittee and a member of the board of
governors. She has taken practically
all the banking courses offered by the
institute, always being accorded high
scholarship honors
Insurance Stockholders to Meet.
special meeting of the stockhold-
ers of the Ftremen'S Insurance Co. Of
Washington and Georgetown. has been
called for next Tuesday at the Offices
at 303 Seventh street northwest. to
consider plan to broaden the charter
and make possible an increase in capt.
tai stock.
The company wishes to broaden the
scope Of its insurance so that 1t may
write aviation insurance and several
other policies which the present char
ter does not permit officials of the
company said today they do not plan
to increase the capital at this time
. While asking Congress for broader in
surance powers. they have included the
capital increase request in order that
they may increase the capital at some
future time if so desired.
This company is one Of the oldest
firms In Washington. its charter being
dated 1887. William M. Hoffman is
the president, Albert w. Howard vice
president and secretary, and James N
Fitzpatrick. jr. assistant secretary. The
present board of directors includes:
James NJ. Woodward, Schuyler S. Sy-
mons, Bruce E. Clark, Edward c. Baltz
Parke A. Galleher, Albert w. Walker
Willard T. Dixon, Charles H. Kindle
John H. Snyder, James M. Woodward
Albert w. Howard, William M. Hoffman
and J. Logan Hopkins:
The companyS stock has been listed
on the Washington Stock Exchange for
many years and has made a splendid
dividend record. The present capital
Is 100000. The company will ask the
right to raise it to $l,000,000 If so de-
sired at some future date.
Bankers Hold Special Meeting.
Members of the District Bankers As
sociation will hold special meeting late
this afternoon at headquarters to con-
slider the proposal of the Law and Legis-
lation Committee for the securing of
special counsel and the preparation of
a securities bill for the District to be
presented to Congress.
AS already stated. Washington bank
ers are opposed to the Blaine bill. which
l., L,,y 70
They doubt If the Capper bill now be-
fore Congress will be passed. For these
two reasons the Committee on Law and
Legislation decided that a new bill
drafted to include the best in fraud
laws in various States would be the best
step to take.
The recommendation was adopted at
the Hot Springs Convention, todays
special meeting being called to put the
proposition to the full association. The
majority of local bankers appear in IA
vor of the plan. The idea is universal
that some securities law in the District
is greatly needed.
Some investment bankers are not so
enthusiastic over a bill to be drawn by
commercial bankers. These securities
dealers feel that they should have the
most to say regarding securities law,
although not questioning the need OF
such legislation.
Busy Day On ID. c. Exchange.
There was large volume of trading
on the Washington Stock Exchange
today. The trading opened with a
$4,000 and $4,000 sale in Capital Trac-
ton IS at SO. Washington Gas IS came
out at l044.
Railway 81 Electric As sold at 90a4
and Potomac Electric Power Console
dated SIS appeared on the board at
1857. Gas IS, series A, moved at 103
Capital Traction stock sold at So,
Potomac Electric Power sig per cent
preferred at 11112 and Lanston Mon
ot-'~e at 87l2.
deral-Americsn National Bank a.
Trust Co. figured in 65-share turnover
in seven different transactions, all made
at so. Liberty National recorded
2-shsre sale at 100.
Mergenthaler Linotype moved in FIVE
small lots at 7712 and 90 shares of Co
lumbia Sand &, Gravel preferred sold
at 80 and 10 more at 901s. Railway g.
Electric preferred sold at 1894.
Heard in Financial District. ;, =.
July finds the Summer vacation sea-
son getting under way Howard Moran,
vice president of the American Security
& Trust Co., is one of the first on the
list
John B. Larner, president of the
Washington Loan & Trust Co., is pass
ing his vacation at his Summer home
at Mifflintown, Pa.
The May statement of operations of
the Georgetown Gas Light Co., filed
yesterday with the Public Utilities Com
mission, reveals net corporate income
of Sl1,631.56, as contraSted with $20,-
664.49 for the month last year. That
for the first five months of 1881 Is $67,-
2o32l, as compared with Sl05,195.94
for the first five months of 1880.
Borrowings of weekly reporting mem
bar harss rom Federal Reserve Banks
asxregat.d S63, 900, 900 on June "a, the
--IncipaI changes for the week being