Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-29

i. A. Fleming ample moneys seek
ing trusts, with S -
per cent freely offered. ''' :
There are number of building bond
rrms in the city upon whom bankers
are willing TO rely in their purchases
OF building bonds for their customers
and for their own use. Likewise they
nave not been caught short in failures
that are still fresh in the minds of
every one.
The late q. F. Saul, who will long
be remembered by financial Washing
ton, made great reputation for him
sen IN his development of property
ana the marketing of building bonds
and notes of the highest grade. There
are other firms whose offerings ranked
with Mr.. SaulS and are still held
as highly as any in this market.
however, Mr.. Saul, as the head of
d. T. saul d Co., in the event of de-
layed payment Of interest on a note
made good the interest himself and
undertook its collection. His firm also
pal. F---O-
1t is recalled that the firm found II
the part OF wisdom to have a title
company guarantee every bond or note
as on the property specifically men
toned in the trust deed,
The District Of Columbia Bankers
association has advocated a law max
ing this Identification of property in
trust deeds necessary. It is admittedly
| useful, assuring a buyer of mortgage on
| note that his collateral covered a spe-
cine piece Of property and not some
| thing else.
A Successful Career.
Mr.. Saul passed on while still in tbs
prime OF lie. His was a very successful
career from every standpoint--as a de-
veloper of suburbs, a banker. a none,
lender and as good citizen. His be.
Rod OF accumulation started with the
organization OF the Home Savings
Bank, under the laws of Virginia. II
1899, OF which he was the only presi-
dent, his term covering the years from
organization until the sale to the Amer
| lean Security & Trust Co.
His other associates in this enter
prise were J. F. Shea, A. S. Clark, How
OF whom were officials, with w. II,
Burch, j. B. Geler, j. p. HERMANN, r.
II. johnson, w. Miller. w. E. Shannon,
j. Shugrue and John NJ. Rupert, who,
with the officials, constituted the first
board of directors.
Starting in small way, the bank at
once won favor. Mr.. Saul was gener-
Gus with advice and was generally very
successful as well. He guided his Gus
toners so wisely that both made profits,
while the bank, never having more than
sl00 900 capital, soon developed into one
OF the big money-makers Of the city,
with large deposits.
Gave Wardman His Start.
Mr.. Saul was Harry Wardman's first
good angel, financing his operations
on large tract at LIE Droit Park. For
years thereafter Mr.. Wardman used the
Home Savings Bank funds in his opera
lions and acted on Mr.. SauPS sugges-
tons until he found the conservatism of
the latter little oppressive.
Inc success OF the Home Savings and
the ability of Mr.. Saul attracted the at
tentton Of the late Charles j. Bell, then
president of the American Security &
Trust Co., and he acquired the stock of
the junior institution for the big trust
company, paying therefor $500, 900. The
purchase included the two branches of
the Home, the Northeast and the South
west, and the services of Messrs. Saul
and Moran as vice presidents. julius
Peyser grabbed of Frank G. Addison,
1r., and admits he made no mistake,
even with an increase Of 100 per cent in
salary. -, ..
Mr.. Saul left two sons to carry on the
business established by him.
Street Railway Traffic.
1t is unoficially announced that be-
fore the recent increase in fare the
street railway companies, Washington
Railway and Capital Traction, were be-
ing operated at a loss of 81 200 a day.
Operations are now being carried on
at loss Of 5000 day. Competition of
taxicab and privately owned automo-
biles is increasing, and there seems lit
tie chance for improvement. Every
movement made by the traction compa-
MES with intent to reduce expenses is
met with opposition, and their problems
seem hard to solve.
Washington Gas Co.
The Washington & Suburban Gas Co.
admits that it owns "a per cent of the
Washington Gas Co.'S capital stock.
The holding company was organized in
1929. Even this admission of owner
ship doesn't place the real owner. There
has been suspician that insult of Chi
cargo might be interested in Washing
ton, but the best available information
is against this theory, although placing
the ownership with a Chicago utility
corporation.