Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-07-09

Bank President for 70 Years.

Bank President for 20 Years.
Floyd e. Davis, president of the
Lincoln National Bank. will round out
% years as head of the institution, to-
morrow. July 10, long and enviable
record in any financial organization.
And he has been active in banking
over a much longer period.
Records show Mr.. Davis was elected
a director in the Lincoln National
more than IS years ago-to be exact,
on June 8, 1899 On January IL,
1906. he was elected second vice
president and in July, 1909, first vice
president of the same institution. His
success as a Junior officer caused his
choice for the presidency seven years
later
Under his guidance the Lincoln
National has made splendid progress.
When he took the presidents chair
the bank had deposits of Sl,7l0,000.
Alter the call issued few days age
by the controller of the currency ask
ing for the condition of all Washing
ton banks on June 30, 1885, deposits
totaled S8,353,970.36, revealing a
healthy and notable expansion. To
his associates Mr.. Davis modestl7
gives a great deal of credit for these
happy results.
In addition to his duties as a bank
president, he is president of the Floyd
z. Davis Co.. real estate firm, and
at various times has been a director
&c ~ Sow
lngS, the Washington Loan & Trust
Co., and the Bank of Bethesda.
Riggs Votes Three Dividends.
Following a meeting of the board
of directors of the Riggs National
Bank, held late yesterday, Robert v.
Fleming, president of the bank, stated
that there had been declared the regu-
lar semi-annual dividend on the pre-
ferred stock of the bank, payable on
August l to stockholders of record
June 80, 1885.
Mr.. Fleming also stated that the
board had declared the regular quar-
terly dividend on the common stock
of So a share, payable July is to
stockholders of record June 80, and 50
a share, payable october is. to stock
holders OF record September 80.
Note Issue Oversubscribed.
Secretary Morgenthau announced
today that subscription books on the
new Treasury offering OF $500, 100000
Is per cent 412-year notes have al
ready been closed. The issue, offered
yesterday, was three or four times
oversubscribed. Subscriptions having
a postmark befor last midnight will
be entered on the books, the Secre-
tary said.
Peoples Drug Sales Jump.
Sales of Peoples Drug Stores for
June totaled $1,535,034 as compared
with 81, 342 1853 In the same month last
year, an increase of $192, 566, or 14.3
per cent. For the first six months
of this year sales totaled $9,087, 100,
in comparison with. s8,025, 1882; an ad-
vance of $1,061 1888. or 1872 per cent,
the Washington Office reported today.
Sales in May showed an increase Of
1853 per cent as compared with the
corresponding period last year.
Lanston Stock Very Strong.
Lanston Monotype stock reached a
new high mark for the year on the
Washington Stock Exchange today. 1t
opened at So and closed at Sass, 15s
points above the last previous sales.
American Security & Trust Co. stock
again moved at 1873. Potomac Electric
Power 51a per cent preferred came out
at 1872.
Capital Traction SIS were again
strong, opening at 9712 and advancing
to 90. The two $1,000 and one $500
transfer were the highest price the
bonds have reached.
George L. Starkey, president of the
National Bank of Washington, has re-
turned from several days spent at the
Chamberlain, Old Point Comfort, Va.