Evening star., 1936-09-24

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Albert S. Galley,
John F. Maury, Vernon G. Owen and
Frank Owings.
Mr.. Quirk. the new director, has
resided in Washington all his life
and has been associated with the
Hecht Co. for a number of years. He
is a member of the Board of Trade,
Lions Club, Manor Club and other
civic and fraternal organizations.
President Rosenberg presided at the
annual meeting. The bank, organized
in 1907, has made an excellent record.
In 1884 a branch was opened at H
street and North Capitol, near the
Government Printing Office, which
made marked progress. The institu-
ton has deposits of nearly S3,-
100000, capital of 100000, surplus
of SITS 900 and undivided profits and
reserves of $4,000.
The bank has an unbroken dividend
record of 25 years and at the present
time is paying a regular dividend of $6
a share and an extra dividend of 81
share, putting the stock on $40
share annual basis. The stock is
listed on the Washington Stock Ex-
change and the records of the ex-
change indicate that none of the stock
has changed hands for over three
years, although the bid price of the
stock has risen since 1888 from $3.50
q share to $l95.
Thomas j. Groom, vice president
and cashier, is first vice president of
the District of Columbia Bankers As
sociation. At the next meeting of the
board officers for the ensuing year will
be elected.
Metropolitan Votes Dividend.
Directors of the National Metro
politan Bank have declared the semi
annual dividend of per cent on the
outstanding capital stock, payable on
October Is. Transfer books will be
closed from October to October IA,
Inclusive, officials announced.
Commercial Credit Co. of Balti-
more has filed registration state
ment under the securities act of 1893
covering s3o,Oo0o00 of 3l4 per cent
debentures due 1851. According to
the registration statement, the en-
tire net proceeds from the sale OF
the debentures will be used to retire
outstanding short-term notes Or to
purchase receivables in the ordinary
course of business or to make ad-
vances to subsidiaries for such pur-
poses.
The next meeting of the safe de-
post section of the District Bankers
Association will take place tomorrow
evening at 8 o'clock in the board room
of the American Security e. Trust Co.
First meeting of the year, there are
many matters awaiting discussion.
"Baby Bond" Sales Allowed.
United States savings bonds are to
be offered for sale through two addi-
tional fiscal agencies-Federal savings
and loan associations and Federal
credit unions the Treasury announces.
Any of these organizations which
duly qualities and which has men,
bership of 500 or more will be author
lied to receive applications and remit
tances for savings bonds and to make
delivery of the bonds. These trans
actions are to be handled only in
connection with purchases by men,
hers of the respective organizations.
Altogether there are 292 organiza-
tions within this category, having an
aggregate membership of more than
100000, the Treasury said. Hereto
fore the baby bonds have been sold
only through post Offices, Federal Re-
serve banks or by the Treasurer of
the United States upon application
8iled direct through the mail.
Manages Arlington Office.
Attracted by the rapid development
Of Arlington County and its environs,
the District Title Insurance Co., which
has heretofore confined it's operations
to the District of Columbia, has just
opened an Office in Virginia under the
management of Robert A. Ryland, at
torney and president of the Arlington
Title Co., Inc. The new offices of the
District company are located in the
Arlington Title Building at the south
west corner of Fourteenth street North
and Court House road, opposite the
Court House.
r. E. Coleman, who has been division
passenger agent of the Baltimore &
Ohio Railroad in Washington, has been
transferred to be division passenger
agent at Philadelphia. General Traffic
Manager w. B. Galloway announced
today. He made fine record in the
Washington office.
Harold Stone, president of the New
York State Savings Bank Association,
urged the formation of Statewide
mortgage information bureaus for the
Improvement of real estate lending
policies, at the opening of the annual
convention today, the Associated Press
reports.
Today's Trading on Exchange.
Riggs National Bank preferred
stock changed hands at 102 on the
Washington Stock Exchange today.
The largest stock sale was in Carpet
Corp, SO shares selling at Is. gain
of two points from the last sale to
the peak price of the year.
Anacostia & Potomac r. r. SIS
appeared on the board again today
with $1,000 selling at 1917. There
has been considerable activity in this
issue In recent sessions.
Peoples Drug stores common Is now
being quoted ex-dividend. The asked
price on Mergenthaler today was Al;
no sales.
Washington bankers were much
pleased over the election of Philip A.
Benson as second vice president of
the American Bankers Association.
Election of Tom K. Smith and Orval
". Adams was automatic.