Evening star., 1932-12-14

W.
Of Trade. is a well
known Washington attorney, and has
been prominently connected with the
American Automobile Association and
many other organizations. He IS a
nephew Of the new chairman OF the
beard and vi become the active head
of the bank at once.
The directors reelected the other
officers. They include: Alphonse M.
Baer, vice president; B. Agee BoWles,
vice president; c. Wendell Shoemaker.
cashier; Elmore T. Burdette, assistant
cashier, and Emery H. Bogley. secretary.
Eighteen Directors Reelected.
The annual meeting of the stock
holders was held in Alexandria yester-
day. as the bank was organized under
Virginia charter. Eighteen directors
were reelected They are:
william P. Ames, William w. Ander-
Bogley. B. Agee Bowles, William H.
Clarke. Davenport B. Elgin, Harry &
Hobart. James C. Hoyle, Frank A. Kerr
Malcolm w Morgan. George w. OHutt,
Henry w. Ofutt C. Wendell Shoemaker,
j. William Stohiman, Henry A Storm
j. Clinton Tribby. Joseph M. Wise.
The Potomac Savings Bank was in
corporated in 1903 and began business
ln MAY OI llldb ytdI illC vi li1A ~
Wisconsin avenue and N street. Later
the bank moved to the site now occu-
pied by the Farmers e. Mechanics
branch of the Riggs National Bank and
then to its present location on the
northwest corner of Wisconsin avenue
and NJ streets. The growth OF the bank
has brought steady expansion since 1t
first opened its doors.
Henry w Offutt, now chairman OF
the board, has been an active business
man in Georgetown for about 40 years.
and NJ street The growth OF the bank
in 1928 He came to Washington from
Potomac, Md. which in his boyhood
days. was known as "Offutts Cross
roads"
Initial Payment on Stock Reduced.
The initial payment for the purchase
of American Telephone & Telegraph
Co. stock through the companys busi-
ness Offices, both to the public and en-
ployes. has been changed to $50 per
share instead of $50.
The recurring monthly payment OF
SO per month per share remains the
same, as does the number of shares
which any applicant may be paying for
at any time, which is limited to 10.
An applicant may at any time take
up any or all of the shares applied for
by the payment of the balance due.
Interest at per cent is charged on
the unpaid balance, and the applicant
is credited with dividends attaching to
the shares.
This does not affect the employees
pay roll deduction plan for A. T. g. T.
stock in any way.
Lively Trading in Gas Bonds.
&C. Carioc a lad
trading on the Washington Stock Ex-
change today.
Seven separate $1,000 transactions
were recorded during the days session,
all made at 100l2.
Washington Railway & Electric As
were traded in to the extent OF 1000
at 87l,. Stocks were neglected.
The French debt situation was the main
topic of conversation in the local flnan-
citl district today. The general opinion
here seemed to be that the debt action
will be much more serious in its results
to France than to the United States.
Union Trust Votes Dividend.
Directors of the Union Trust Co.
have declared the regular quarterly
dividend of per cent, payable January
* to shareholders of record Decem-
G. G. Murphy Co. declared the regu-
lar quarterly dividend of 81 on the
5 per cent preferred stock, payable
January 3 to stock OF record Decem-
ber 23
Stockholders of Packard Motor Car
Co now total 1884, compared with
l04,756 on January 2, 1882, with 89.3l9
on February /, 1881, and with 60,45l on
April /, 1880
The aggregate number OF General
Motors common and preferred stock
holders for the fourth quarter of 1882
was 365 e85, compared with 364, ,401 for
the third quarter of 1882 and with
313,1l7 for the fourth quarter OF 1881.
There were 348247 holders of common
stock. against 346,763 in the third quar-
ter of 1882.
Financial District Notes,
The annual Winter dance of Wash
ington Chapter American Institute OF
Banking is to be held at the new
Beaver Dam Club on Friday, Decem-
ber 16.
Walton L. Sanderson, Federal Amer
lean Bank & Trust Co., chairman OF
the Entertainment Committee of Wash
ington Chapter, is in charge OF the
plans and from present indications an
ticipateS a large crowd
Thomas P Healy of Washington has
asked authorization by the Interstate
Commerce Commission to serve as as
sociate general solicitor of the New York
Central lines.