Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-16

of the company.
These include 5000 Floyd e. Davis.
shares of prefer
red 1900 shares Of class A common,
and $500 shares of class B common.
The Arlington Trust Co Is a party
respondent in the proceedings ana the
COMPANY is a Virginia corporation.
F, H. Rowe of Washington repre-
sents certain stockholders in the pro-
ceedings as a committee ard Philip H.
Foyle of Winchester, Va, is attorney
for other interested stockholders.
The case has been pending before the
commission for several months. The
company has its headquarters in the
Insurance Building in washington.
Bank President Nearly 20 Years.
Floyd E. Davis, president Of the Lin
coin National Bank, is just starting MS
nineteenth year as head OF this 1nstl-
tuition. Bank records show he was
elected a director in the Lincoln Ma
tional on June g. 1899. In January.
1906. he became second vice president,
being advanced to first vice president
in July. 1909 His enviable record as
Junior bank official caused his election
as president on July 10, 1918. Ever
since then he has been at the helm and
has guided the bank over a course OF
steadily increasing prosperity.
To show his standing in the financial
community it is worth noting that MI
Davis is a director in the washington
Loan & Trust Co, Bank Of Commerce
& Savings and the Bank of Bethesda,
also in the Mutual Fire Insurance Co.
of Sandy Spring. Northern Market Co.
and several other important local cor
poratiors. He is president OF the Floyd
E. Davis Co. treasurer of the Columbia
Permanent Building Association and
trustee in the John Dickson Home.
There are few buster bankers in Wash
ington, but Mr.. Davis goes about his
business so quietly that few people
realize how much work he does. Incl
dentally, he owns one of the finest farms
in Montgomery. Md, his thoroughbred
cattle being famous in that locality.
Mcmillan Joins Riggs Staff.
John r. MCMILLAN, who has been a
national bank examiner for several
wears. Joined the staff of the Riggs Ma
tional Bank as an assistant vice presl-
dent today. resignation from his Treas
ury position having become effective on
this date. His election as an otncer
of Riggs took place at meeting OF
the directors on June 8. At that time
President Fleming also reported the
promotions of Earle M Amick and Mel
son B. O'Nesle to assistant vice presl-
dents and D. ]. Callahan. jr.. to as
sistsnt cashier. Mr. MCMILLAN is ma
tive of North Carolina and was COM
missioned a national bank examiner
in 1921. In recent years he has con-
Quoted examinations of the larger banks
in Washington, Baltimore and Rich
mond.
Traction Scores Further Advance.
Capital Traction stock made another
new on this move on the Washington
Stock Exchange during today's session.
On turnover Of only 10 shares the
stock advanced from yesterdays close at
80 to 1914 The final asked price was
3d.. The first bond sale today was in
Capital Traction SIS, $1,000 moving at
83l4 The largest bond sale was in
Washington Gas SIS, $1,000 selling
at 107l2.
Trading in stocks was light. A sin
gle share of Riggs National changed
hands at 372. Potomac Electric Power
6 per cent preferred moved at 1872
and the So per cent stock changed
In Mergenthaler Linotype at IL.
Hoffman Made Agency Head.
The National Life Insurance Co.,
Montpelier, VT. has appointed Karl s.
Hoffman as general agent for their local
office and adjacent territory. He sue
ceeds Robert p. Wilmington, who has
returned to his old home in New Eng
land.
Mr.. Hoffman has had very wide
experience in the life insurance bust
ness, having started IL years ago in
the Central West and having graduated
from the Life Insurance Salesman
School at Carnegie Tech in 1920.
Previous to that time he was in the
i,1fa HIT
later made insurance officer at Camp
Shelby, Miss.
Mr.. Hoffman has been in Washington
for the past seven years. He is mem
Der of the Washington Board Of Trade,
Almas Temple. the Y. M. c. A., District
of Columbia Life Underwriters Asso-
citation, having served as secretary OF
the managers section of that aSso-
citation: past president of the Iowa State
Society, the Big Ten Conference Club
and the Laymen's League, All Souls
Church He is now member of the
board Of trustees of that church and
president Of the local University of
Iowa Alumni Association.
SS,253,000 Phone Outlay.
Expenditures of more than S3,253,000
were made in the District of Columbia,
Maryland, Virginia and West Virginia
last year by the Western Electric Co.
in its capacity as purchasing agent for
the Chesapeake & Potomac and other
Bell System companies, recent survey
shows
Included in the purchases made in
Washington, according to John A.
Remop, general manager, were sta
tionery and printing matter, printed
paper, packing boxes, scientific instru-
ments, automobiles, machine products,
hardware. galvanized sheet iron furnl-
ture and chairs, first-aid supplies and
electrical supplies.
Supplies purchased in Maryland in
cluded enamel signs, bufdng supplies,
machinery, tools, plumbing supplies,
office furniture. chairs and fixtures,
restaurant equipment. metal cast ngs
and steel products, linoleum and rugs,
printing products, lead and ENC, fiber
and metal gears and automobiles. Auto
mobile tires we're purcha3ed in Cum
berland manhole frames and covers in
Frederick. locust cross arm pins at
Hagerstown and landscaping materials,
Towson.
Park Savings Plans Expansion.
The Park Savings Bank announces
plans for the construction OF an add
ton to the present banking quarters
which will considerably more than dou-
BILE present floor space. The addition
will be built on an adjoining lot and
take the place of building which Is
now occupied by a real estate firm. 1t
will be the same depth and height as
the savings bank and match it archi-
tecturally will include a room for worn-
en- customers, enlarged space for the
oficers and tellers, have a mezzanine
and conference room above. The di-
rectors' room will be on the second
floor. The addition has been made
necessary by the banks rapid growth
and It is planned to start the project
Ia the near future.