Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-07-11

approved by the e$#$##% II
directors call for s##SM ~
doubling the lobby ~ M
space in the two
banks to meet the Robert v. Fleming.
needs of steadily
expanding business.
The added floor space will give cor
responding increase in the room for
tellers' windows so that additional win
dows may be opened. thereby enabling
the members of the branch Office stats
to give the patrons more prompt and
efficient service.
Ralph R. DePrez, an assistant CASH
fer. is manager of the Dupont Circle
branch and Louis z. Jeffries. jr., an
other assistant cashier, is assistant man
ager Carl H. Donch assistant cashier,
is manager of the Park Road branch
and Joseph A. Keene, assistant cashier,
Is assistant manager.
Riggs National expanded still further
recently by taking over the Chevy Chase
Savings Bank after that institution had
been placed on a restricted basis by the
Treasury Department.
Fire Insurance Company Meeting.
At the annual meeting of the stock
holders of the National Union Fire In
surance Co. of Washington held yes
terday, the following directors were
chosen for the ensuing year.
William L. Beale, Charles r. Brown,
Floyd E. Davis, Albert F. Fox. Charles
E. Galliher. Alfred H. Lawson, Walter S.
Pratt, jr; John Saul, Jane P. Schlck
and William H. Somervel.
The board subsequently organized
with the selection of the following Off
GERS: A. F. Fox, president: Walter S.
Pratt if. and Floyd E. Davis, vice pres
idents: William H. Somervell, secretary,
and William H Marbury, assistant sec
rotary
A. F. Fox, the president. has served
continuously in that capacity since 1902
after having served as vice president
since 1891.
d. c. Men Now in New York.
Announcement is made today that
G. E Hendee, formerly with Kldder,
Peabody & Co., is now associated with
Madison g. Co.. Inc, OF New York
CITY, as manager of their municipal
bond department. The organization
was formed on June l by James B;
Madison, former member of the Federal
Farm Board, Washington, and former
president of the Virginian Joint Stock
Land Bank. Charleston. w. Va. The
banks and tax-eXempt securities.
1t is also announced that William
Snow. former examiner with the Fed
eral Farm Board at Washington, Is as
ISOLATED with the organization.
Would Organize Credit League.
Thirty-three officers of District credit
unions were present at meeting held
last night at ITO Fourteenth street to
discuss organization of central league.
In excess of 100000 credit union
capital was represented, although
bare eight months have passed since
legislation authorizing these semi-prl-
vate banking concerns was passed by
Congress.
The following slate of officers was
elected with instructions to investigate
further into the matter and present
their findings at the next meeting. Au-
gust IA: Edgar Graham. chairman On
terral Revenue: Dr. Frank D. O'Hara,
Phi. D. st Anthony's PARISH; Jerome
K. Eldridge western Union). Mrs.
Winifred G. Beers Navy Yard. and
Franklin H. Smith VETERANS Admin
tstration).
Commodity Prices Again Higher.
Wholesale commodity prices advanced
materially during the latest week &C
cording to the index of the National
Fertilizer Association. This index ad-
vanced 16 points during the latest week
carving the index number from 638
to 65.4 The latest index number Is Al
points higher than it was month ago
and is 80 points higher than it was at
this time last year. 1t is only 80 points
lower than it was in July. 1881.
Not single group declined during the
latest week Eight groups advanced
and six showed no change. Advances
were shown for foods. fuel, groins, feeds
and live stock. textiles. building mate
rails. metals. fats and oils and m1Scel-
laneous commodities. The largest gains
were shown in the fuel. grains, feeds
and live stock metals and textile groups
During the latest week 81 commod1-
ties advanced and II declined. During
the preceding week there were 90 ad-
vances and IA declines.
Today's Trading on Exchange.
Only bonds figured in the trading on
the Washington Stock Exchange today
in Gull ccssiCn. Potomac Electric
consolidated IS figured in $1,000 sale
at 1O4 and 81 900 Washington Railway
& Electric IS came out on the board
at 87le.
New York bank stocks, in which there
Is wide local interest, registered sharp
ing the conservative policy adopted by
the banks in presenting their midyear
statements. The aggregate value of the
16 leading issues as compiled by Holt.
Rose & Troster, ended the week at
S1675. 765 000 compared with $685.
$4,000 at the close of the previous
week, an increase of S148.776,000. or 81
per cent. The low point for the year
to date-namelv, 1,065, TAG, OO0-waS
recorded on April 5.
In the year since the stock market
touched its lowest levels for the depres-
sion, on July 8, 1882, the increase in the
market value of shares listed on the
Stock Exchange has been about $23,-
50O,0O0,000. Of this gain, approximately
S1e.5O0. 100000 has been scored in the
last four months
A second distribution to creditors and
depositors of the defunct Chesapeake
Bank was begun in Baltimore yesterday
with the mailing of the first batch of
checks. which will number 24,850 finally
and involve the payment OF S402 1924.
Including an initial distribution OF 221a
per cent. and the present one Of 10 per
cent. the receivers for the institution
have paid out about $1,323,0O0.
R.F. C. Bank Stock Subscriptions.
The Reconstruction Finance Corpora
ton has authorized the purchase OF
100000 of preferred stock in the West
Virginia National Bank, Fairmont, w.
Va which has been organized to sue
coed the National Bank of Fairmont, a
closed institution.
The subscription is on a dollar for
dollar basis and purchase Of common
stock by local interests.
q. S. TREASURY BALANCE.