The Washington times., 1931-01-13
MERGER VALUE
Of D. {. BANKS
DISCUSSED
Action OF Comptroller May End
Chances of New Charters;
Several Banks Approached

y,
John M. Pole, will grant no new
bank charters for the District of
Columbia for many years, certain
banking houses here are placed
in very advantageous positions.
In the event that some of the
larger banks in New York and
other cities desire to enter the
local field, they will be compelled,
since they can get no new char
ter from the Treasury Depart
ment, to purchase an existing
charter. This will be Of great
Importance to holders Of charters
here, for they can practically
make their own terms with any
institution which wishes to enter
the local field.
Many Attempts Made
It is a known fact in Washing
ton financial circles that attempts
have been made by various out
side institutions to enter the
banking business in Washington.
Only last year there was a de-
termined effort on the part of a
large New York banking firm to
merge number of smaller banks
here with one downtown institu.
ton, so that they could then be
placed under the control OF the
New York house.
The deal fell, through wnen,
due to various economic changes,
the hackers of the plan were
forced to withdraw their negotia-
tions Whether negotiations will
be resumed is a matter of spec
ulation throughout the entire
financial district here.
Small Banks Lead
Among the banks which now
hold the advantage in the local
field from a merger standpoint,
are the small community institu-
tions, which are scattered ad-
vantageously throughout the res
idential sections of the city.
Among the banks which are
suggested by many Of being IN a
good position in the event that a
merger is planned are:
The Washington Mechanics
Savings Bank, of which Ezra
Gould is president, which main
tains four branches in various
sections of the city; the Takoma
Park Bank, the Security Savings
and Commercial Bank, which
maintains one branch; the
Potomac Savings Bank, The
Anaccstia Bank. and the Bank Of
Brightwood.
Residential Location
It will be noted that all of the
institutions mentioned, with one
exception, is located in the res
idential section of the city.
Those who speculate on the
future of the various banking
institutions here are of the
opinion that any outside institu-
ton, wishing to enter the local
field will purchase the charter
of one Of these banks or some
other of a similar character and
then ask permission of the Treas
ury Department to establish
downtown branch, or in the
event of failure in that to merge
the purchased institution with
some downtown bank.
All of the above mentioned
banks and others of like charac-
ter, according to Washington
bankers opinions, are especially
attractive, due to their locations
and their soundnesS.
Hilleary G. HoskinSon, vice
president of the Riggs National
Bank, has been appointed chair
man of the sports committee OF
the District of Columbia Bankers
Association by Frederick p H. Sid
dons, chairman of the general
committee of the 1881 convention
to be held at Hot Springs, Va, in
June.
Hoskinson will be assisted by B.
Agee Bowles, vice president of the
Potomac Savings Bank, who is
vice chairman. Other members of
the group include Clyde M. Asher,
Liberty National Bank; Ralph P.
Barnard, District National Bank;
Ezra Gould, Washington Mechan-
les Savings Bank; Hynum E Hin
ton, Chevy Chase Savings Bank;
Herbert T. Shannon, National
Metropolitan Bank, and Robert S.
Stunz, of the Park Savings Bank.
Officers and directors of the
Bank of Brightwood were re-
elected last night at the annual
meeting of that institution. They
are: Raymond L. Schreiner, pres
ident and cashier; c. L. Osborn
and Barton w. Perry, vice presi-
dents; c. J. Sincell, H. Mason
WEIGH, E. H. Ankeny, E. L. Bull
lard, John F. Ertter, George w.
Langley, Samuel Moore, Joseph
Nicholson, C. L. Osborn, Barton
w. Perry, Raymond L. Schreiner,
D. F. Swab, I. C. Towson and John
Wischausen, directors.
The following officers and d.
rectors of the Mutual Building
and Loan Association were re-
elected at the annual meeting
last night: Thomas P. Brown,
president; Joseph S. Marsden,
vice president; Thomas E. Petty,
secretary; ]. Walter Stephenson,
treasurer; Joseph Dant, Joseph
P. Burke, Joseph T. Fitzgerald,
Max Kohner, William T. Finn
and Percy c. Brady, directors.
Sheehy and Sheehy are renamed
attorneys. In its 80 years of
F,,oc3iooiro0 tna occooio +io,o :. 80