Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-05
OFFUTT IS ELECTED
AS BANK OFFICIAL
Washington Mechanics Also
Names Him as Member
of Board.
BY EDWARD C. STONE.

les Savings Bank have made Assistant
Cashier A. Scott Offutt vice presi-
dent and also a member of the board
President Ezra Gould announces. For
merly associated with the Continental
Trust Co. and the National Capital
Bank, he joined the savings bank staff
in 1921 as a teller. He was soon made
assistant cashier and when the bank
absorbed the Peoples Commercial q
Savings Bank in 1924, he was made
manager of that branch.
In 1929 Mr.. Offutt was made mana
ger of the Georgia Avenue branch and
for the past year has been manager OF
the Eighth and q streets southeast
branch, the main Office now being at
340I Connecticut avenue. AS wee
president, he will remain in charge OF
the Office at Eighth and G streets:
Bernard M. Grant has been elected
an assistant cashier of the same oank.
He, too, is connected with the Elghth
and G. streets, is a graduate OF Con-
zaea High School and OF washington
Chapter, American Institute OF Bank
ing. He has been with the bank Tour
wears and is only little over Il years
old, which makes him one OF the young
est bank officials in Washington, PROB
ably the youngest.
Chamberlin Hotel Re-Opened.
Holders of stock in the Norfolk &
Washington Steamboat Co., Will De
much pleased to know that the Cham-
berlin-Vanderbilt Hotel at Old Point
Cnrnfort, va. has been reopened under
new management, after being closed
since late in the Fall. The hotel Is to
be known in the future as The New
The Chamberlin is now under ne
same management rs thst OF tie ware
man Park Hotel ana several DIE 1ax,t
washington hostelrieS, the Grove Park
Inn at Asheville, N. C., and other notelS
in the South. AS the rates which pre-
vailed when the hotel was opened Sorne
wears ago proved to be more than tne
traffic would stand, the new nanagS-
ment has greatly reduced prices &
Gated on one OF the most hlSCor-c spoCS
in Virginia, overlooking Hampton Roads,
and within easy distance by motor OF
yorktown. jamestown and Williams
burg, the hotel has much TO o1er aus
AS all steamers on the Norfolk &
Washington line stop at Old FIlnt, the
opening Of the hotel is certain to nave
important bearing on the cor1pany's
earnings as the Summer se;-5on APP
proaches. In the days of the clio Cham
berlin. hundreds of passenger coming
from Boston and New York tc W9sa-
ington, by sea, stopped at DID Print
Comfort ara came the rest of the way
on the Norfolk line boats.
Ten New Directors Elected.
At the annual meetings of the WASH
ington Title District Title and Lawyers
Title Insurance Companies, total OF
10 new c -ectors were adde2 to the
boards
Newly elected directors of the wasn-
ington Title Insurance Co. ar: James
NJ Gin IT
Charles 3. GiIlet, Charles H. ELck and
Eugene A. Smith Directors reelected
were Arthur G. Bishop, Finest L.
Schmidt, George H. O'Connor Robert
G. Merrick, william S Merrick William
M. Hallan, George F Hane. Clarence
F. Norment, H. Glenn Phelps and Fr=d
Mckee.
Robert G.. Merrick and Charles H.
Buck are new directors Of the District
Title Insurance Co. Directors reelected
are: Charles @. Allen, Arthur @.
Bishop, Edward C. Baltz, Alfred H.
lawson, Sidney T. Thomas, William G.
Miller, Eugene A. Smith, Joseph I. We'll
Ter. H. L. Rust, jr.; Carl j. Bergmann,
John P. Story and T. Howard Duckett.
Additions to the board of the Law
yers' Title Insurance Co. are william
Stanley, Robert G. Merrick and Charles
H. Buck. Directors reelected are Ar
thur G.. Bishop, Charles w. Stetson,
Joseph N. Saunders, Harry M. Packard,
Ernest L. Smith, Albert F. Miles,
Eugene A. Smith, George M. Emerich,
Clarence F. Donokoe, Charles H. Bau-
man and Charles H. Kindle.
Farm Loan Report Out Today.
In its annual report sent to Congress
yesterday the Federal Farm Loan Board
announced that during 1880 the IL
Federal land banks made 12,572 loans,
tine OIL mn pavnnpnfg re-
cefved by the banks on outstanding
loans aggregated $4,000, 900. On De-
cember 81 land bank loans totaled
,653s17,015.
With respect to the volume Of apph-
cations received and loans closed, 1t APP
pears that in more than half Of the dis
trictS there was reversal in the trend
during the last part Of 1880. The total
amount Of applications received during
the last three months of 1880, for eX-
ample, was 81 per cent greater than
the amount received in the correspond
ing period Of 1929. This trend has been
reflected also in the volume of loans
closed. During the last three months
of 1890. $3.50 loans were closed in an
aggregate amount of S12, TAI 700, which
compares with 1886 loans in an amount
of SI0,420,700 closed during the last
three months of 1929. The loans closed
in December, 1890, were IS per cent
kIEdUEI III NOLdl LAldl1 lAAOcC
closed in December, 1929.
The policy of the Federal Land Banks
with respect to loans, as previously
pointed out, is TO grant all applications
received which, in their Judgment, meet
the requirements of sound loans and
which are eligible under the provisions
of the farm loan act and the board Is
advised that the banks are encouraging
applications of this character. These
banks made a new record for the
amount Of real estate sold during the
year.
Trading Active on Exchange.
CAPITAL Traction stock made its first
appearance on the Washington Stock
Exchange in several days selling today
at 36iZ, on very small turnover.
National Metropolitan Bank stock
sold at $40 and Union Trust Co. stock
/ changed hands at PA.
Merchants Transfer & Storage pre-
ferred sold at 81 and Mergenthaler
Linotype at So Peoples Drug Stores
preferred sold at par.
Rea. Estate Mortgages & Guaranty
preferred figured in 60-share turnover
at 90, while Columbia Sand g. Grave
preferred registered 97Ia.
Two l00-share sales were recorded In
Washington Railway & Electric pre-
feYred, one at 1914 and the other al
98]z.
Washington g. Georgetown Gas bonds
Capital Traction SIS and Washington
Railway & Electric As figured in sew
eral transactions in this department
Financial District Notes.
Sales Of the McCrory Stores Corpo-
ration increased l.3 per cent over Feb
ruary, 1880, according TO the monthly
report out today. They are up "A per
cent for the first two months OF this
year.