Evening star., 1932-06-02

Morris OF Federal ~
American National
Bank & Trust Co.,
third. Norman E. Towson.
the Judges was reached without their
knowledge of the authorship Of any
paper and the selections were made
only after careful study of all the
papers by each OF the arbiters. The
excellence of the 29 essays submitted
made their task the more difficult
The Judges we're Harry G. Moon.
president Washington Loan e. Trust
nCo.; Morris D. Rosenberg, president
Bank of Commerce e. Savings, and
John B. Cochran, president Franklin
National Bank.
The subject of the essay contest was
"What are the best methods for Sc
lecting and training bank personnel in
order to secure efficient management
and individual advancement" The
winning papers will be read by the au-
thors at the convention. The prob
lem discussed in them is of primary
importance, and it Is anticipated that
valuable practical results will flow
from the consideration which will be
given to 1t.
Stellwagen Death Shocks Friends.
The financial district was shocked at
noon today when news spread of the
death of Edward j. Stellwagen, for 80
years president of the Union Trust Co.,
an institution in which he was the
leading spirit in founding. Only last
month he resigned as president and
was elected chairman Of the board of
directors.
He was director of the Capital
40
Washington Gas Light Co. as di-
rector, had been on many other cor
poration boards. played an active part
in the real estate and hotel develop
ment of Washington and several years
ago was leader in the affairs of the
District Bankers Association, of which
he was at one time president.
Mr.. Stellwagen was the highest type
of banker. His friendship was most
highly valued by legion of people.
His passing takes a sterling banking
and business figure from the financial
district, and from many activities out
side of finance to which he had given
q great deal of time and generous help.
Savings Bank Elects Trustees.
At the annual meeting of the stock
holders Of the East Washington Savings
Bank the following Is trustees were
elected to serve for the ensuing year:
John c. w. Beall, T. Earle Bourne,
Charles A. Garry, James A. Donohoe,
Gratz E. Dunkum, Lewis Flemer, John
Ford, w. P. c. Hazen, Francis j. Kane,
Morris E. NARROW. Walter H. NARROW.
jr.; Henry H. Mckee, William N.
Payne, jr.; Samuel H. Walker and John
c. YoSt.
officers will be elected at the first
meeting of the new board Tuesday
June IA, 1882.
Today's Trading on Exchange.
Capital Traction stock opened trading
on the Washington Stock Exchange
again today Three sales, totaling 25
shares, were recorded at 10, the same
price which has prevailed since the
latter part of last week.
Potomac Electric Power 5l2 per cent
preferred opened at 103 and closed at
1O21s on a small turnover, while the
corporations per cent preferred sold
at l071a.
The largest bond sale was $4,000
Washington Gas 6s, series A. at 989s
Potomac Electric Power IS figured in
two $1,000 sales at 10734.
Bond Club Outing Tomorrow.
The Bond Club of Washington will
hold its annual outing at the Burning
Tree Club tomorrow afternoon. Festiv-
tiles will begin shortly after noon, when
a contest for golf supremacy will be
staged. A long list OF rival attractions
will, however, divert attention from the
green's ping-pong tournament, an
exhibition of skill in the pitching of
horseshoes, a putting contest, bridge
tournament and the now famous Bond
Club Stock Exchange" session are
among the events scheduled for the
afternoon and evening.
A dinner, which will be attended by
all the members of the club and long
list of guests, will probably prove the
best patronized event of the outing. A
program has been worked out by James
Parker Nolan, chairman of the General
Committee, which promises to keep
every one busy from l o'clock in the
afternoon until midnight.
Mr.. Nolan will be assisted by the fol-
lowing members in charge of the more
essential events: Carl, Kurtz, chair
man, and Carroll Morgan vice chair
man of the Bond Club Stock Ex-
change; Theodore Olds, chairman OF
the Golf Committee; Winslow Vande-
venter, chairman Of the Ping-pong
Committee; Clark Brown, chairman of
the Horseshoe Pitching Committee;
William Freeman, chairman OF the
Putting Committee, and James Lemon
chairman of the bridge tournament.
Financial District Notes.
Members of the District Bankers As
sociation will omit their regular weekly
luncheon next Wednesday, which is the
Gay on which the financiers leave here
for the Hot Springs Convention.
A highly gratifying number of reser-
vations was received today by the Con-
Vention Transportation Committee
The last reservations must be in not
later than Saturday.