Evening star., 1936-06-12

County, Md. In
starting his career he first became
identified with the drug business in
Hyattsvllle, Md but his early interest
in financial affairs prompted him to
Join the banking fraternity.
On June u, 1891. he entered the
services of the Union Savings Bank,
which had recently been organized in
the Capital. Remaining there until
May, 1896. he next became affiliated
with the Traders National Bank until
the formation of the Home Savings
Bank. With the latter institution he
made rapid progress, serving as asSls-
tant treasurer, treasurer and vice pres
ident until the merger with the Amer
lean Security & Trust Co. in 1919.
Active in the financial district. he
has served on many important COM
nittees OF the District Bankers Asso-
citation and was elected president of
the organiza ton in 1926 He has been
q member of leading committees con-
nected with the American Bankers As
sociation and has attended many ma
tional conventions.
He is member of the Board of
Trade, Better Business Bureau, Co.
lumbia Historical Society and Board of
Directors of Peoples Drug Stores. Inc;
also a member of the Chevy Chase,
University and National Press Clubs.
Yeatman New Section Chairman.
Millard S. Yeatman, auditor of the
Hamilton National Bank, was elected
chairman of the Auditors Section OF
the District Bankers Association, held
last night at Pheasant Farms Inn.
near Colesville, Md. The election was
preceded by a dinner attended by
over so members and friends.
Othsr officers elected were Henry
l. Downey of the Washington Loan &
Trust Co.. Vice-chaTman; Gerald E.
Keene, auditor of the Second National
Bank. secretary treasurer; James D.
Barrett. auditor of the American Sc
curity g. Trust Co., and H Norman
Glasco of the Union Trust Co, men,
bers of the executive council.
James D. Barrett, the retiring
chairman, was presented with hand
some portable radio set he section
rs a mark of its esteem.
Karl w. Corby, prsident of the Dis
trict of Columbia Bankers Associa-
ton, and Albert S. Galley, treasurer,
were guests of honor and brought
greetings to the auditors from that
organization.
Hamilton Declares Dividend.
Directors of the Hamilton National
Bank have declared dividend of so
cents per share or 212 per cent on the
outstanding stock. it was announced
in the financial district today. The
dividend is payable August l to stock
holders of record July %.
This is the second dividend of so
cents a share declared by the Hamil-
ton National since the bank was
organized by the consolidation of a
half dozen local banks. The first
dividend was declared six months ago
and paid in February, which means
that this year the stock has been OH
81 basis. The directors. however. have
not yet adopted definite dividend
policy for the future
At yesterdays meeting the directors
also voted to transfer S50,000 to the
banks surplus.
Pepco Bond Bids Due June %.
Regarding the $15,00OO00 bond
issue soon to be put out by the Po-
tomac Electric Power Co., the Wall
Street Journal says:
-Four syndicates are expected to
submit bids June % on the Potomac
Electric Power 3l4s which are now
in registration and are expected to
become effective on June 25. The
amount of the issue is $15,000,0 600.
In cases such as this where competi-
tive bidding occurs only a few days
before the scheduled effective date
some underwriters complain that they
are severely cramped in preparing for
the issue because of having to pack
most of their negotiations with the
company into the final few days of
the waiting period; before that, the
winning bidder is not known and
each group is merely one of many
prospective buyers of the issue as far
ss the company is concerned"
TlndnCIaI DkSLflcL notes.
The eighth annual meeting of the
safe deposit section of the District
Bankers Association will take place
this evening at o'clock in the board
room OF the American Security g.
Trust Co. Five members of the Ex-
ecutive Council will be elected to
serve for the coming year.
Mackubin, Legg & Co., national
distributors Of Fundamental In
Vestors, Inc, report the declaration of
a dividend of rs cents per share on
the 81 par value stock, payable July
to shareholders of record June 12.
This compares with 20 cents a share
paid on April l.
Daily average sales of variety
stores for May, 1896, were about Is
per cent higher in dollar volume than
for May, 1885, and were 10 per cent
above the same month of 1894, ac-
cording to preliminary estimates of
the Bureau of Foreign and Domestic
Commerce. Department of Com
merce.
Today'S Trading on Exchange,
CaplIal traction 5S led trading on
the Washington Stock Exchange to-
day. with $1,000 and two $1,000 sales
taking place at 8934. Washington
Railway 81 Electric Is figured in
$1,000 transfer at 1864 and 81 900
AnacoStia & Potomac r. r. SIS moved
at II.
Stock trading was light. Washing
ton Gas Light came out on a small
sale at SO and two shares of American
Security & Trust Co stock changed
hands at 256. Mergenthaler Linotype,
which sold yesterday at 43, was quiet
today as was Capital Transit.
Peoples Drug Stores common and
preferred issues are being quoted ex-
dividend on account of payments due
in few days.
nuTT mr. DuTA DpnnTTNE