Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-23
ALL BANKS IN D. c.
FOR HOOVER PLAN
Washington Institutions Vote
100 Per Cent in Favor
of Credit Aid.
BY EDWARD c. STONE.

BIZ EDhAhD L. S1ONE.
Washington banks have voted 100 per
cent to subscribe to the National Credit
Association which is carrying out the
Hoover plan for strengthening the bank
ing situation. Final action was taken
this noon which put the local banks
over the top. making record which
other sections of the country may equal,
but not SurpaSs.
Banks voting since yesterday to add
their full share to the fund include
United States Savings. East Washington
Savings. Park Savings Bank. Munsey
Trust Co, Morris Plan Bank, Union
Trust Co. and Federal Ma
tional Bank q Trust Co. This COM
pletes the list of the city's 81 banks.
The local banks will organize the
Washington unit at a special meeting
of the Clearing House Association and
the District Bankers Association this
afternoon. at o'clock at the Willard
Hotel. AT this meeting the loan COM
mittee, which will also act as the board
OF directors, will be elected
Haas Enthusiastic Over Plan.
Calling upon all banks in the Nation
70 support the National Credit Corpora
tion by subscribing their full quotas to
Its notes Harry J. Haas, president of the
in New York today that the corporation
definitely puts into practical effect the
central point in President Hoover'S plan
for renewing the commercial and in
dustrial activity of the Nation as pro-
posed in his statement to the Nation OF
October T."
The corporation is essentially a CO.
: operative undertaking. Mr. Haas says.
to unite the entire banking system and
Z increase the effectiveness of the flnan-
Z cial services of banks 10 their COM
/ munities in the rural districts as well
! as the cities.
s Benefit to Every Citizen.
There is no citizen in the United
States but will benefit in very practical
ways from the results Of the operation
OF this torwsrd-looking plan OF CO.
operation. which may be regarded as
one Of the most constructive steps that
have been taken toward revival Of sound
business activity Mr.. Haas declared.
He added,
with the completion of the working
plan of the National Credit Corporation
il is now incumbent upon every bank
IN the Nation to give the plan its active
support The first step TO this end IS
for all banks everywhere TO respond at
once to the corporations request and
subscribe for their full quotas OF its
gold notes
Miller Reports Marked Progress.
John M Miller. il. director for the
fifth reserve district in the national
organization, reported splendid progress
today in the five States in this terri
tory The Virginia organization has
been completed and the Maryland or
ganization is practically finished. West
Virginia organizes at Huntington at
IN No hpl
The response in the way of subscrip-
lions in all the States has been most
gratifying, Mr.. Miller reports Director
Miller attended a meeting of the Rich
mond Chamber of Commerce yesterday
afternoon and explained in much. de-
tail the objective of the national cor
poration.
Interest in Industrial Show.
Considerable interest is being mani
tested in the local financial district in
the seventh annual Industrial EXPOSE
ton OF the Washington Chamber OF
Commerce which opens next Monday
evening in the Washington Auditorium
The management announces that
there will be more individual exhibits
this year than in any previous year and
that the additional exhibits will add
materially to the exposition. While
Washington is not a manufacturing city,
as the term is usually applied, yet there
are a host of exhibits which are well
worth seeing. This years exposition
will be opened by Secretary OF LABOR
Doak in a talk over the air at S:4S
Monday night.
Insurance Offices to Merge.
The firm of H r. Bryarly & Bro,
general manager CT the Home Life In
s,1rance Co. of New York, located at
-Hy n
october 81 merge the Maynard c. Bur-
rell Agency, located in the Press
Building. and the Burrell Agency will
be under the control and management
of H. R. Bryarly g. Bro. The Burreli
Agency will be closed, therefore. the
policyholders of the Burrell Agency VIII
nav their premiums after November l
1T the Bryarly offices.
New Gas Light Secretary.
Election of Edward T. Stafford to the
office of secretary of the washington
Gas Light Co. was announced today by
President George A. G. Wood. He takes
office Immediately, filling the vacancy
created by the recent resignation OF
George M Whitwell.
Although only 81. Stafford is con-
sidered an "old employee in the local
company Starting as stenographer
in the secretarys Office in 1917, he was
PmpIOyed N InlS Capacity uill 1870
when he was elected second assistant
secretary, the youngest officer OF the
company.
In 1927 he was promoted to assistant
secretary, remaining in this position
until his present promotion. He re-
Ceived his education at Business High
School, Emerson Institute and George
Washington University.
Light Trading on Exchange.
Trading was unusually light on the
Washington Stock Exchange today. The
largest transactions were two $4,000
transactions in Washington Railway d
Electric As. which changed hands at
8534 Washington Gas Light IS, Series
B. figured in a $500 turnover at 1O3.
Mergenthaler Linotype revealed more
strength today, two small lots selling at
65l2. up half a point from yesterdays
close.
Washington Clearing House figures
for today, SO 383,142.19.
John B. Larner. president OF the
Washington Loan & Trust Co, who re-
turned to Washington recently from his
: Summer home near Mifhintown, Pa, is
remaining at his home for the present
kon account of an illness.