Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-20
FIRMS
ELECT DIRECTORS
American Security and Num-
sey Trust Companies An
nounce Board Members.
BIZ EDWARD C. STONE.

stockholders meeting held this noon
Charles A. Garry, who is engaged in
the real estate business, and whose
father was member of the board at
the time of his death, was also elected
to the directorate. The complete board,
elected today, is as follows:
G. A. Aspinwall, Harry K. Boss,
George w. Brown, Charles A. Garry,
William M. Coates, William S. Corby,
William w. Everett, William j. Father,
Jr.; NJ G. Gibbs, James M Green, Cary
T. Grayson, Gilbert H. Grosvenor. j. P.
Hermann, James F. Hood, Joseph Lei
ter, @. Percy McGlue, Edward B. Nc
Lean, William Montgomery, Howard
Moran, Clarence F. Norment, Newbold
Noyes. Howard S. Reside, B. F. Saul,
James F. Shea, Corcoran Thorn, Ben
Jamin w. Theron, John F. Wilkes and
George A. G. Wood
Munsey Officers and Directors.
Stockholders of the Munsey Trust Co..
held their annual meeting this noon
and elected the same Board of Directors;
which organized at once. The directors
include:
w. W. ChisweH, Charles DENLY, Will
liam t. Dewart, c. T. Dixon, Charles
B. Hawley, j. H. Hines, G. T. Hodges,
Jr.; William E. Horton, Harry NJ. Key
ser, Arthur q. Lambert, Wilton j. Lam
bert, G. H. Pope, c. d. Ratcliffe, Franz
Schneider jr.; Alfred P. Thorn, jr.; R.
II. Titherington, Fred A. Walker, T. G..
Willis, George A. G.. Wood and R. H.
Yeatman.
The board elected the following off,
GERS for the coming year: William T.
Dewart, president; Wilton j. Lambert,
vice president and general counsel; c.
II. Pope, vice president and treasurer;
G. D. Radcliffe, vice president and as
Sistant treasurer; T. c. Willis, secretary
and assistant treasurer, and P. j. Nc
Mahon, assistant treasurer.
New Mount Vernon Director.
Stockholders of the Mount Vernon
Savings Bank at their annual meeting
today elected one new director G.. M
Bugniazet. Mr. Bugniazet was formerly
q member Of the same board He is
secretary and treasurer of the Brother
hood of Electrical Workers and also
secretary and treasurer of the Union
Cooperative Insurance Co. The COM
plete board follows:
James H. Baden, c. M. Bugniazat, E
g. Dawson, Charles P. Ford, Harry W.
Hahn, Fred Hewitt, Robert T. Highf1eld,
William H. Johnston, DR.. E. F. Koss,
Frank w. Lee, William Muehleisen, H.
Glenn Phelps, H. S. Walcott, Arthur o.
Wharton. Claude H. Woodward and r.
G. Zantzinger.
National Savings Reflects Board.
At the annual meeting of the stock
holders of the National Savings & Trust
Co. late yesterday the old board of di-
rectors was reelected as follows: James
j. Becker. Woodbury. Blair, William A.
H. Church, Walter C. Clephane, H.
Rozier Dulany, jr.; Franklin H. Ellis,
H. Prescott Galley, william D. Hoover,
Walter po0iVo1d IJYriAa-
koper, Victor Kaufman, Edmund D.
Rheem, Frank StetSon, William H.
Walker, William B. Willard and Harley
p. Wilson.
After the meeting Of the stockholders
the new board convened and elected
the following officers: William D.
Hoover, president; Woodbury. Blair first
vice president; Frank Stetson, second
vice president and trust officer; Charles
Q. Lamborn, treasurer; E. Perciva1 Will
son, secretary; Frank r. Ullmer, as
sistant treasurer; Bruce Baird, assistant
trust officer; David Bornet, assistant
trust officer; John w. Calvert, assistant
treasurer; w. Hiles Pardoe, assistant
treasurer; A. j. FAINT. assistant secre-
tary; John M. Boteler, assistant secre-
tary, and Audley I. P. Savage, auditor.
OuIahan Joins Brokerage House.
Richard Oulahan, son of Richard v.
York Times, has Joined the Washing
ton staff Of Fenner & Beane, New
York Stock Exchange brokerage firm,
John d. Mothershed, local manager,
announced today. For the past four
years Mr.. Oulahan has been manager
OF the Knoxville Office of Bauer, Pogue,
POND Dc Vivian, former members of the
New York exchange. He was born and
reared in Washington and had his pre-
paratory school work here. During the
World War he was retired as a cap
tain OF Infantry owing to injuries re-
ceived in action. The young man re-
turns to his former home here with
wide training in the financial field.
Declares New Era Has Begun.
Norman E. Towson, economist of the
Washington Loan & Trust Co., declares
that new economic era started with
the new year. He says:
THE beginning of new year be-
comes important. The Bache Review
points out that January l represents
only bookkeeping line, which might
as well be ruled on any other date.
That is true. But New Year day rep
reSentS, also. a new set of statistics,
new comparisons and a reSuscitation
of courage; a new lease on life and a
new determination to make the imme-
date future brighter than the inme-
date past.
These are some of the reasons why
1881 represents the beginning of new
economic era. 1t would of course, be
folly TO set a period to the depression
The economist would be brave indeed
who would point TO a date on which
prosperity will magically return. Eco
nomic cycles do not go according to
the calendar in that way"
Mr.. TOWSon goes on TO quote the
opinions of noted economists that early
in the present year conditions will re-
vert toward normal. He also notes
that the depression has now passed
through all its stages Of falling COM
modify prices, falling stock prices, fall
ing money rates, rising bonds and in
creasing demand for credit. In con-
clusion he says, 1T seems not unrea-
sonable to believe that we have entered
or are about to enter, a new economic
era"
Today's Trading on Exchange.
Capital Traction opened at Al today
on the Washington Stock Exchange
and sold of to 40i5 during the session.
The days turnover was IS shares.
Merchants Transfer g. Storage COM
mon sold at 100, Potomac Electric
Power 5l12 per cent preferred at 100 and
Mergenthaler at 89I2.
The largest bond sale in some time
was an $l1 900 transfer in Washington
Railway & Electric IS at 8712.
Busy Week at Institute.
Washington Chapter. American Insti-
tute of Banking is taking registrations
this week. every afternoon. prepare
tory to the opening Of the second
semester next Monday.
The Membership Committee meets
tonight at the chapter rooms at which
time j. Fred English will outline plans
for drive to get new members for the
second half year.
TOYn0rroW evening the Ranouet Conn