Evening star., 1933-05-25
POOLE MAY GIVE Up
BANK MERGER POST
Plan to Devote All Time as
Federal American Con.
ServatOr Heard.

Whether John Poole. president and
conservator of the Federal
National Bank & Trust Co., will be an
officer in the new Hamilton National
Bank was the mcSt outstanding un-
answered question today in the rapidly
moving bank merger situation.
There were certain rather definite
indications that Mr.. Poole, who had
been announced as vice president of
the merged bank, would not be an
officer in the new merger, but would
give his full time as cCnservator, to the
difficult task of winding up affairs of
the Federal-American as it merges into
the new institution.
Mr.. Poole up to noon today had re-
manned non-commital on the matter.
1t was understood Mr. Poole would
Department officials concerning his
status in the bank reorganization.
There were no official indications as
to exactly what Mr.. Poole will do, but
in the financial district, it was pre-
dicted that within "a hours, Mr.. Poole
himself would have something to say
concerning his own plans.
A question as to Mr.. Poole's status
arose as a natural result of the an
nouncement late yesterday that Wilmer
j. Waller, vice president and cashier
of the Federal American, had been Sc
lected to be vice president and cashier
of the new Hamilton National This
raised the question as to whether there
were to be two vice presidents from
the same member bank in the merger
Mr. Poole is listed along with Joshua
Evans, jr, president and conservator of
the District National Bank, as vice
president Of the Hamilton National. If
Mr.. Poole relinquishes this post to give
his full time to the job of conservator
at his own bank it would be quite
change from the original announce
ment
The appointment of Mr.. Waller was
announced by Edwin C. Graham, presi-
dent of the Hamilton. Mr.. Graham
declined to comment in any way upon
the status Of Mr.. Poole, referring ques-
tionerS to Mr.. Poole himself
Personnel Cut Unlikely.
Possibility that all employees of the
six member banks in the merger will
retain their jobs for while at least
was held out by Mr.. Graham. During
the transition process while the old
banks are being merged into the new,
there is even the probability, he indi-
may be required
A change in the conservator at the
Park Savings Bank was made today by
the Treasury Department. Richard
HargreaVeS, the conServator. at his own
request was relieved for another as
signment as national bank examiner,
and his post at the Park Savings as
conservator is taken by j. L. Bailey,
another national bank examiner who
has previously figured in liquidation
proceedings here.
Meantime the Franklin National
Bank pushed forward with plans to re-
open as the New Franklin National
Bank, separate from the merger. The
sale of stock to depositors and stock
holders was said to be continuing with
success, with large part of the re-
quired amount already subscribed
While the Franklin National continued
to be a prospective member of the
merger, according to advices in the
financial district, officers of the Frank
lin insisted they were continuing their
efforts to reopen on their own.
A meeting of the General SubScrip-
tion Committee for the Hamilton was
held late yesterday at the Federal
American Building, but no figures were
announced yesterday as to the total
etAAooAO vi SbOCh SuDSCIlUeQ- IL WAS
several banks have made
substantial progress in stock sale. while
others who Joined later were just get
ting under way.
The six banks in the merger SO far
include the Federal American, District
National, Potomac Savings, Washing
ton Savings. Northeast Savings and the |
Woodridge-Langdon and Commercial.
The situation at the United States |
Savings Bank was attracting much at
tention in the financial district today !
Col. Wade H. Cooper, president of this
bank, was understood still to want his
institution to keep out of the merger, |
but there is known to be definite
feeling among minority stockholders in
favor of joining the merger. There
were reports that the Treasury Depart
ment itself might take hand soon
in helping to solve the situation there.
Mr. Waller, the new wee president
and cashier of the merged institution
was born in Kansas, but has lived most
of his life near Alexandria, Va. He re-
sides now at RoSemont. He is a past
president of the District OF Columbia !
Bankers Association, past president OF
the Washington Chapter, American In
stitute of Banking; member OF the
Association of Reserve City Bankers
and a member of the Chevy Chast
Club.
He began his banking career in 1900
as a runner at the old American Ma
tional Bank on F street. He was pro-
NOTED up the ranks and at the time of .
the constellation of the American and t
Federal National Banks he was cashier
of the former. He then was made vice
president Of the Federal-American and
q few months ago was made vice pgesi- |
dent and cashier Of that bank.