Evening star., 1936-10-09


1878, he received an A. B. degree
from Park College in 1900, the same
Institution giving him an IL. D. in
1925. Following graduation from col
lege. he engaged in newspaper work,
underwriting, real estate and business
management, entering banking in 1912
as cashier of the Empire National
Bank at Lewiston, Idaho.
His active connection with the
A. B. A. began in 1917. when he be-
came a member of its Agricultural
Commission, serving until 1921. Al
ways keenly interested in civic af-
fairs, he is affiliated with the Presby-
terian Church, Masons and Elks; also
the National Press Club, and the
Union League, Bankers and Economic
Clubs in New York. He is member
of the Academy of Political Sciences
and has written several brochueS on
banking and economic subjects.
For the A. B. A. he has accomplished
a great deal, especially in keeping up
the membership and finances during
the depression, helping to improve
and expand banking facilities and the
better understanding in the rural dis
tricts between bankers and farmers.
In the head Office he has improved
many administrative practices For
these reasons his reelection is highly
pleasing to his Washington friends.
Harrell Heads Columbia Loan.
John B. Harrell was elected presi-
dent of the Columbia Building Asso-
citation for the thirtieth time at the
annual meeting held last night. Other
officers named were Harry B. Denham,
vice president; Gay Harrell, treasurer;
c. E. Kefauver, secretary. Together
with these officers the directors also
include j. William Weber. c. Albert
White and Albert o. Denham.
President Harrelrs annual report
showed substantial gains in both saw
ings accounts and mortgage loans dur
ing the past year. Assets revealed a
gain of $750,000 during the year. the
best gain, President Harrell said, in
% years.
Dividends distributed during the
past year amounted to more than
100000 and undivided profits and
reserve accounts were increased.
Loans totalling more than $1,000, 900
were made during the year, the preSi-
dents report stated.
Davis Takes Clearings Post.
Floyd E. Davis. president of the
Lincoln National Bank, has been ap-
pointed member of the Washington
Clearing House Associations Executive
Committee, it was announced today
by H. H. Mckee, president of the
National Capital Bank and chairman
of the Clearing House Association.
He takes the place left vacant by
the death of George L. Starkey, who
served on this important committee
for several years, and was formerly
president of the National Bank of
Washington.
Mr.. Davis, a veteran in the finan-
cial district, has been head of the
Lincoln National for % years and a
director since June 8, 1899. Since
he became president the banks de-
posits have grown from $1,710,000 to
over $10,000,000. Mr.. Davis is also
widely known in the real estate field.
Besides Chairman Mckee, the other
members of the Clearing House Com
Inittee are j. Frank Stryker, Robert
v. Fleming, c. F. Jacobsen and Victor
6. Deyber, secretary. The work Of
The committee is most vital to the
welfare of the banks.
Institute Seeks New Members.
Washington Chapter, American In
btitute of Banking, plans a member
ship drive in all the local banks,
Frances E. Robey, chairman of the
committee. announced today. At
meeting held Wednesday talks were
made by President Paul j. Seltzer,
y. Earle McGeary, Crawford Turnbull
and William H. Laughlin, and a good
increase in members so far this year
was also reported.
1t was reported at the meeting that
the annual banquet will take place on
February 20, 1887. The first forum
dinner is set for November 18, and a
subscription dance at the Willard Ho-
tel has been arranged for November
"a.
Two Dividends Declared.
Directors of Southeastern Indus
trial Bankers, Inc. 1407 K street, the
firm operating a chain of industrial
lending companies, have declared the
regular quarterly dividend on the
company's 7 per cent stock, payable
October II to stockholders of record
October 10.
Directors of the City Industrial
Savings g. Loan Co. of Hyattsville,
Md, a subsidiary of Southeastern In
dustrial Bankers. have declared a
quarterly dividend on the per cent
preferred stock and an initial divi-
dend OF 10 cents per share on the
common stock. Both disbursements
are payable November 10 to stock of
record October 81.
First Sales in New Bonds.
First sales in the newly listed Po-
tomac Electric Power 81 per cent
bonds took place on the Washington
Stock Exchange today with two $1,000
and one $4,000 transfer at 104h.
American Security & Trust Co. bank
stock was in demand at PSI and
Potomac Electric Power 51a per cent
preferred sold at 1929.
In turnovers of SO, 80 and 10 share
lots, Mergenthaler Linotype changed
ownership at the strong price Of 5lA.
Capital Traction IS sold at 9l1a.
It was announced that the exchange
will be closed next Monday, Columbus
day, when the New York Stock Ex-
change Is also closed.
Bond dealers here are looking for
the huge American Telephone & Tele-
graph bond issue to be placed on the
market some time next week Several
different firms will offer the bonds
to Capital Investors.
Mergenthaler Linotype stock sold
on the Boston Exchange yesterday
at 5l%. new high mark for several
years and just a little higher than
recent sales in Washington.