Evening star., 1937-07-23

dents chair for
u years at the time of his death.
The election took place at the July
meeting of the directors, Mr.. White
at that time being one of the vice
presidents and cashier Of the bank.
Born in Washington and connected
with bank almost since boyhood, he
had long been in direct contact with
every phase Of banking. He entered
the banking business on June 8, 1885,
= ut the age of 18 years
Starting as a clerk, he was soon
called upon for general utility work,
then filled the positions Of pay and
receiving tellers and of note teller.
After being assistant cashier for three
years he was elected cashier in July,
1923, taking on the additional duties
of vice president in 1888. From the
time of his graduation at Gonzaga
College, he has always been a close
student Of finance, always keeping up
with the latest developments in bank
ing. He is an unusually good example
OF what enthusiasm, application to
business and ability can accomplish
over period of years.
Second National 65 Years Old.
The Second National Bank obtained
Its charter just IS years ago tomor-
row. July "a, 1872, it was noted by
officials today. The bank opened its
doors for business on September IL.
For many years the main Office was
on Seventh street. but on the elec-
ton Of John A. Reilly to the presi-
dency, in 1886, the head Office was
moved to the branch at 1898 G
street.
Victor B. Deyber, now chairman of
the board, was president of the bank
for many years. The first president
was j. c. Mckelden, he being sue
ceeded by Mathew G. Emory. who held
the Office 25 years and had the dis
tinction of being known as the last
Mayor of Washington" Aside from
Chairman Deyber and President Reilly
the other officers are:
William NJ Hannay. Jacob Scharf
and Julius E. Lob, vice presidents;
Edward F. Colladay, counsel and trust
officer; William B. Wolf, assistant
trust officer; Frederick F. Boyer, cash.
Ter: Gerald E. Keene and Stuart S.
Ogilvie, assistant cashiers, and John
r. Higgins, controller.
Steele Wins Spaid Trophy.
Lundeen " Steele of the Washing
ton Loan g. Trust Co. won the w. w
6paid Cup golf tournament of Wash
ington Chapter, American Institute
of Banking, by defeating Aubrey o.
Dooley of the Hamilton National Bank
2 up in the final match, played July
81 at Indian Spring Country Club.
John M. Christie, Riggs National
Bank, turned in low net score for the
tournament Steele, in winning the
cup this year, retains permanently
the Spaid trophy, inasmuch as the
new champion had previously won
it twice. All arrangements for the
tourney we're made by George M.
Rowzee, jr., of the Lincoln National
Bank.
d. c. Bank Clearings Mount.
The Washington Clearing House re-
ports clearings of S25 5,842, ,77S 80 for the
week ending July 81, as compared with
$21 ,604, 1888 in the same week year
ago. or gain of 1886 per cent. Clear
ings also showed an increase of s519,-
b0964 over the previous week this year.
Wrendo NJ Goodwin, Bloxom, Va,
attorney, has been named receiver for
the Peoples Bank of BloXom by the
Circuit Court of Accomac County. The
bank was placed in receiyership at the
instance of the Virginia Corporation
Commission. Its deposits are insured
Paul Primm, president of the District
Life Underwriters Associa ton, and
James A. De Force are making up a
delegation of underwriters to attend
the forty-eighth national convention to
be held in Denver August % to q.
The program calls for addresses and
discussions of every phase Of life in
surance.
Acting Secretary Magill has asked
for tenders on two series Of Treasury
bills which aggregate $100,000,000 and
which will be sold on discount basis
to the highest bidders. Tenders will
be received by Federal Reserve Bank
and branches until pm. Monday.
Insurance Sales Go Higher.
Life insurance In Washington in
June were II per cent higher than
In June. 1895, and 13 per cent better
In the first six months of the present
year, compared with the like period
q year ago, the Life Insurance Sales
Research Bureau, Hartford, reported
today. This was better than the na-
tional average gain of 2 per cent for
June and per cent for the six
months.
Potomac Electric Power 6 per cent
preferred stock sold at 113 on the
Washington Stock Exchange today and
the 5l2 per cent preferred at l13h
Capital Transit opened at 10A and
closed at 10 fiat.
The new listed Columbia Country
Club first AS again saw bid Of 103
with none offered.
The recent report Of the Fedora
Deposit Insurance Corp. for the veal
ending December 81, 1896, reveals tina,
on December 81 the corporation wa.
tnsuring more than 81 billion dollar.
of deposits to the credit Of more thar
so million depositors in 14,029 banks
Total deposits Of these banks amount.
ed to more than SO billion dollars.
Net earnings Of the Capital Transit
Co. showed improvement In June, wher
profits reached $37,53s.45. a gain o1
$2,a2e52 over June, 1896, according
to the monthly statement filed tl1i,
noon with the Public Utilities Com.
mission.
Revenue passengers carried on the
compsny's street cars and buses ir
June numbered 13,932,047, as COM
pared with 14,606,564 in June, 1896
Q drop Of 674,517. or 4.6 per cent.
Capital Transit's net income In the
hrst six months of this year totalet
$122,185.77, gain of $98,070.39, o.
<06 per cent, the report said.
NEW YORK BAR SILVER.
NEw- vHDv T,iv 90 fA-R., .tI~.