Evening star., 1935-12-19


has been here since. He got his first
Job in the Washington Navy Yard, in
tending to become mechanical engi-
neer, at the same time studying nights
OF George Washington University.
Later, however, he decided he wanted
TO go into banking. After learning the
fundamentals of the business he Or
ganized in 1906 the Washington Me-
chanics Savings Bank, which expanded
steadily until it had four offices, It
was one of the banks that resumed 100
per cent operations after the Nation
wide bank holiday in 1888, later be-
coming the City Bank when the Mount
Vernon Savings Bank and the Franklin
National joined in the consolidation.
In addition to founding the Wash
lngton Mechanics Bank, Mr.. Gould
also organized the old Dupont Ma
tional Bank, became its president and
remained with it until the bank merged
with the former Merchants Bank &
Trust Co. In those days he was a
very active member of the District
Bankers Association, was an excep-
tional tennis player, winning many
cups at conventions, which he still
treasures in his home.
The Hartman & Keech resident
partners, George A. Garrett and Mai
Ferry K Heath, expressed much salts
faction today over having Mr.. Gould
connected with their Office.
HemphiII, Noyes Pays Bonus.
The entire Office staff of Hemphill,
Noyes & Co., New York Stock Ex-
change firm located in the Shoreham
Building, attended dinner last eve
ming at the Hay-Adams House, August
Schmidt and C. Shelton Buchanan
being hosts. The high light of the
evening was the announcement of the
Vear-end bonus of weeks salary for
all employees. This bonus was dis
tributed at the, dinner and was the
third payment of the kind made this
year.
Securities registered under the Sc
eurities act of 1888 during November
totaled $289, TIL ,988, as compared with
S4o6, ,086, ,507 in October, bringing the
aggregate of effective statements in
1895 through November 80 to 81 ,8O0,-
269,668. OF the November total, 78
per cent were secured bonds and
debentures, 19 per cent common stock,
the balance preferred stock and certi-
ficates Of participation.
The Federal Communications Com
hnittee has announced that until the
courts finally rule on the 1885 system
of accounts the 1888 method will re-
main in effect. The 1885 rules were
scheduled to go into effect January
], 1886, but have been attacked by
the American Telephone & Telegraph
Co. in suit filed in New York City
Henry Rogers Winthrop of Win
throp, Mitchell & Co., governing
member of the New York Stock EX-
change, has been elected chairman
of the newly created Standing Com
Inittee on Customers Men. John
"A. CisSel, an exchange governor, was
elected vice chairman. Winthrop,
Mitchell & Co. have maintained a
Washington Office for many years.
Savings Farley Announced.
The annual Eastern Savings Con-
ference, sponsored by the savings
division. American Bankers Associa-
;tion, will be held at the Waldorf-As-
toria, New York City, Marcn 5 and
6, it Is announced by Philip A. Ben
son, president of the division.
Among the subjects which will be
Included are railroad reorganizations,
mortgage loans. municipal, State and
Federal indebtedness, development of
pe@pal loan departments and the
coc@etition now facing savings banks
Though outside financial agencies.
Others will have to do with revising
legal lists in States where savings
banks are restricted to such invest
ments and developing new credit serv-
ices in other States.
States included in the conference
area are Connecticut. Delaware, Dis
trict of Columbia, Maine, Maryland,
Massachusetts, New Hampshire. New
Jersey, New York, Pennsylvania,
Rhode Island, Vermont, Virginia and
West Virginia.
Bethesda Bank Votes Extra.
The Bank of Bethesda has declared
the regular Semi-annual dividend of
IL per cent and an extra dividend
of 8 per cent, both payable December
81 to shareholders of record Decem-
Der 81, it was announced today. The
stock is listed on the Washington Ex-
change.
On the Washington Stock Exchange
today nine shares of Washington
Loan g. Trust Co. stock sold at 202,
q new 1885 high mark Capital
Transit sold at Is on 25-stare SALE
Mergenthaler Linotype figured in a
75-share sale at 81.
In the bond division Potomac Elec-
trio Power IS came out at 108, WASH
ington Market Cold Storage IS came
out at SO and two $1,000 sales in
Capital Traction IS were recorded at
o..
Financial District Gossip.
The Norfolk g. Western r. r. paid
the regular So quarterly dividend to-
day to stockholders of record No.
vember 80.
Great interest was expressed in the
financial district in the report of the
r6oSIdl reScIFS DOdIu duo tlic OPcIi
Market Committee that there is at
present no overexpanSion in business
or in the use of business credit. The
report means that no action is consid-
cred necessary right now to cut down
the huge total of excess reserves which
could serve as base for huge credit
expansion.
he "a Q
applied to the Securities and Ex-
change Commission for registration
for when issued" dealing In 195,627
shares of no-par common stock Of
the Motor Products Corp.