Evening star., 1932-12-01


pres den t and
cashier; Oliver B.
Exline, assistant ~
cashier; Francis =.
r bey, assistant John M. Riordon.
cashier; Joseph H.
Milans, secretary, and Clarence A.
Weaver. auditor.
The present directors include Thomas
N Beavers. William l.. Bush, E. T.
Chewing, j. E. Collifower, r. L. FL
Ictt, Albert S. Galley. M. A. Leese,
john F. Maury, Harry E. Mayer, Vernon
G. Owen and Frank OWingS.-
The bank is member of the Amer
lean Bankers Association, the District
of Columbia Association and the WASH
ington Clearing House Association
President Rosenberg is a former presi-
dent of the District Bankers Associa-
tion and other officers have from time
to time taken a very active part IN
the affairs of the local association.
Savings Bank Disburses 100000.
Checks were mailed by the Noun.
Vernon Savings Bank today to 5000
members of the Christmas Savings Club
aggregating 100000. The interest on
these accounts ranged from 81 cents
on the S25 clubs to SIS on the 81 900
memberships.
Cultivating the Christmas club saw
ing5 habit has been one OF the largest
factors in making it possible to have
a sufficient amount of money to be
expended for those things everybody
desires at Christmas time. This Christ
mas savings habit has constantly gained
momentum since its inception and is
now looked upon as one of the most
convenient ways of saving a definite
sum each week. 1t Is a habit that be-
comes almost mandatory. A great deal
Of money that club members receive
at ChristInastime is redeposited at the
bank in savings accounts and in great
many instances, has been the stepping
stone for creating substantial sums,
which later on have been used for
purchasing homes, making investments,
etc.
The Mount Vernon Bank looks for
ward to having the largest club this
next year since the organization of the
institution
C. g. p Report Held Gratifying.
The October report of the Chesa-
peake 6s Potomac Telephone Co. was
OF particular interest because 1t re-
vealed gain of 557 telephones during
the month. This indicates that the
number of connections now is substan-
tally above the disconnections. Both
the number of telephone calls in Mo-
venber and in the first 10 months of
the year also were ahead of the same
periods g. year ago. If the other SUBJ
sidiaries of the American Telephone g.
Telegraph Co. made as good a record,
there would be little chance for dis
cussion over keeping the dividend at
the present figure
Another financial statement that is
receiving favorable comment in the
local financial district is the latest re-
port of the Washington Gas Light Co.
October net operating income was with
in about $4,000 Of equaling last years
monthly total, while the net corporate
income of S848952.40 for the first 10
months of 1882 was only S64, ,403.06 be-
low the corresponding net year ago.
For the first 10 months of 1882, the
Georgetown Gas Light Co. reported
net income of s95,155.67, within Sl3,-
83958 Of net profits in the like period
las year.
ID. c. Trade Given New Boost.
Since the distribution of. approx
mately S8,00o,000 to 100000 members OF
local Christmas Savings Clubs con-
Quoted by the Washington banks, trade
in the Capital has been given sub
stantial boost. Disbursements have
been made during the past few days
and are now completed.
The 1888 Christmas Savings Clubs
started off today under full steam.
Bankers reported that many Of this
years members already have signed up
for next year in this great thrift move
ment. With thousands, the Christmas
Savings Club has become a habit.
Bankers believe that the cooperative
campaign will interest enough new
people in the plan SO that another high
mark can be hung up. both in men,
berShip and the amount subscribed.
Forum Speaker Is Announced.
It is announced by Norman E.
Towsen. chairman of the Forum Com
mittee Of Washington Chapter, Ame-i-
can Institute Of Banking, that Rev.
Allen A. Stockdale, pastor Of the First
Congregational Church in this city,
will be one of the speakers at the meet
ing at the Hay-Aaams House on De-
cember T.. DR.. Stockdale is widely
known lecturer and writer and is an
authority on philosophy and sociology
During the World War he was with
for the coming meeting are coming in
rapidly.
Today's Trading on Exchange.
Washington Gas 6s. series A, led
trading on the Washington Stock Ex-
chanrc today. three 1,000 sales and q
$500 sale being recorded at 100. Po-
tcmac Electric Powe- 6 per cent pre-
ferred stock moved at Ill. During the
session 10 shares of Capital Traction
stock sold at AS and 40 more in To-
share lots at Al
Eliot H. Thomson. chairman of the
District Bankers Association Advertis-
ing Committee, will address member.
and guests of the Advertising Club o
Washington at the clubs luncheon a
the Raleigh Hotel Friday noon, or
money for Christmas" He will ex'
plain in detail what the Christmas Saw
iI.gs Clubs mean to the city.
The Treasury's latest offering OF Sl00,
00o, 900 of 91-day bills was put out a
an average interest rate on a bank dis
count basis of l3 per cent for the lo
Secretary Mills announced. Bids totale
$780,, $50, 900.
Vrginian Railway Co reports for /
months ended October 81, 1892, ne
income of sl,433,115 after taxes an
charges, equivalent after dividend re
quirements on 6 per cent preferre
stock to IL cents share on 3l2,71
shares of common stock This CON,
pares with $2,84l $50, or $4.6I o com
T mon share in 1891. ..-.--.--.,