Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-15

&
rach, Clarence F. XXI
Burton. Ezra
Gould, George n N =
Hayes, L. Hoyt Ezra Gould.
Lamb. Jesse B. K
Lee, Edward F. Pickford, J. G. Pyles
Edwin E. Roberts. E. Hume Talbert, F
P williams, John P. F. White, E. s
Wolfe. Guy Mason, A. S. Offutt, Robert
E. Lynch.
The Washington Mechanics Savings
Bank now maintains four offices, the
past wear being notable because of the
opening of the new building at 3401
Connecticut avenue near the foot OF
Newark street The other Offices are
located at Eighth and G streets south
east. East Capitol and Ninth streets
and at 1903 Georgia avenue.
Building Association Elects.
Oficers and directors elected at the
annual meeting of the Citizens Equita-
bic Building Association Of George
town. held at the office, 1897 Wisconsin
avenue northwest, follow
President. Thomas J. Stanton; vice
president, Isaac B. Nordlinger; secrc-
tary. Harold w. Burnside; treasurer,
Harry l.. Selby; assistant secretary,
Mrs. Irene B. Arendes.
Directors include: Isaac Birch. j. M.
Burns, Patrick F. Carr, John Hadley
Doyle. J. Leo Kolb. r. E. Layton, r. E.
Mayfield and George A. Scheele.
Local Bank Resources Soar.
Resources of the 80 banks of wash
ington on March Is, date set by the last
call for statements of condition issued
by Controller of the Currency John w.
Pole. were 1857 900. an abstract OF
reports compiled by his Office reveals.
Resources as of this day when deposits
were the largest in the history OF the
city. were $12,S40, 900 ahead of those OF
December 81, previous call date. and
S23.s65. 900 in advance of those OF 40
banks on the call date of March 81, 1880.
Resources of the IL national banks OF
the city we're $3.50. $50 900; of the %
savings banks, $47.673,O00, and of the
i've trust companies, SOB, le5,00O.
Bank Plans Expansion.
Joseph Schiavone, president of the
International Exchange Bank, at Fifth
and H streets northwest, announced
today that he plans to put on drive
starting May I to increase the banks
deposits above the 81 900 900 mark. In
/. anticipation of the campaign the lnte-
rior of the bank has been remodeled
and redecorated and considerably more
DEPARTMENTS, and for those which have
been hong in operation. President
Schiavone also plans to increase the
personnel.
The International Exchange Bank
was founded by Mr.. Schiavone in 1921.
During the first five years he got de-
posts Nd to the million mark and then
resigned to take up other business, He
has recently taken the helm again and
is very enthusiastic over the outlook.
While he counts q good deal on the
banks foreign connections, yet he says
he bases most of his expectations Tor
expansion on the development Of bust
ness in the District OF Columbia.
Fernando Cunniberti. chairman oil
the board, today added his Endorsement
to the present program. In the first
month after Mr.. Schiavone's return TO
the bank" he said, I'VE gained more
new accounts than we had for any pre-
vious two months during the past year.
While the new business campaign Is
not due to get fully under way until
May / we are feeling the results OF Mr..
Schiayone's work"
Business Here Appears Better.
Comparisons of business being done
BY the Chesapeake a. Potomac telephone
companies with The Bell system as a
whole indicate that the territory is max
ing better progress during the depres-
sion than are most other sections Of the
country.
President Clifford. in his report yes
terday, announced a net loss of $4,000
telephones in the first quarter In the
same period the Chesapeake ~ Potomac
companies, which operate in Washing
ton. Maryland. Virginia and West Viz
ginia. reported a gain Of 1924 tele-
phones. of which 2,449 were in this city.
President Clifford reported that for
the system as whole there was gain
in March of $500 telephones. In the
territory covered by the four Chesapeake
& Potomac telephone companies there
was a gain in March Of 1904 phones,
S4l Of which were in Washington.
While the number of new telephones
may not be much Of a barometer Of
business. vet the above figures are de-
cidedly interesting, TO say the least.
Today's Trading on Exchange.
Capital Traction bonds and stock
again drew considerable attention en-
the Washington Stock Exchange today.
The market opened with three 81 900
Capital Traction SIS changing hands at
TIA.
The first three sales in the stock in
volved ITO shares a, 32ia Later another
small lot sold at the same price and an
other 81 900 bond moved, At TIA. The
way the quotations held up today indi-
Gated more interest in the buying than
the selling side Of the market.
Ten shares Of Union Trust stock sold
at 2l0. LaDston came on IT i05. Mer-
genthaler closed az 8o5a end Carpet
Corporation sold at GAIA National Mort
gage a. Investment preferred S0ld at a.
Washington Gas Light stock appeared
on the board for the first time in som,
weeks 40 shares selling al l24 Sales'
were also recorded in Washington Ga,
bonds at recent levels.
Joins Investment Firm.
Donald Childress is now asSocisi q
with James NJ Johnston e. Co For thu
last two years he has been connected
with the Utility Securities Corporation
Before entereing the investment bank.
ing business Mr. Childress attende-
Central High School here and Nortf
Carolina State College. al Raleigh. N
c.. and was prominent athlete at boti
places.
Receivers of the Seaboard Air Lin,
Railway have asked Interstate Com
merce Commission authority to issu,
and sell 81 1900 900 per cent receivers
certificates at 98s4 plus interest TO Dill
lon. Read & Co. and Ladeuhurg Thai
mann e. Co. of New York to PARTIAL,
provide for the bankrupt roads casl
requirements this year
The application stated the road vii
need S8,0922l7 for its cash require
rnents this year. including SO 500 900 70
additions and betterments to property
e2.342,2l7 to provide for equipment trus
maturities and $2,250,000 to take care o
unpaid 1880 taxes on its properties.