Evening star., 1937-11-19

W. Committee or
Relations witt
the Federal Reserve System, named
him member of the divisions Com
mlttee on Federal Legislation and alsC
made the Washington banker mem
ber of the Committee on Trust De-
partments.
Mr.. Waller, who is a former presi-
dent of the District Bankers Associa-
ton, has served at one time and an
other on many other committees con-
nected with the A. B. A.
Lincoln Adds Lobby Space.
Double the present lobby space viii
be obtained at the main Office of the
Lincoln National Bank on Seventh
street NV. through extensive changes
now being launched. Room for -four
additional tellers to meet rush period
requirements VIII be secured as an
other important result, Executive Vice
President Albert S. Galley said today
The march of time has doomed the
old-fashloned, tall cages with their
vast amount of grill work, and they
will give way to the modern open
counter arrangement In this way
the new space for tellers will be Sc
cured, as they can work closer to-
gether than is possible in separate
cages. Furthermore, the new counter
will not extend as far into the lobby
by feet as the present cages do,
this space to be turned over to the
banks customers. The most important
part of the alterations will be carried
out between Saturday noon and Mon
day morning.
The changes in the main office are
following by short time very similar
alterations in the branch Office at
Seventeenth ana H streets NV. In
this branch the lobby space was dou-
bled, open counters for the tellers
were installed and other improvements
made Changes in both Offices were
brought about by steady expansion in
business, officials state.
Floyd E. Davis is president of the
bank, Other officers includes James
A, Soper, vice president and cashier;
=. T. Ofterdlnger, vice president; G..
F. Williams. counsel and trust officer;
j. Frank Rice, assistant cashier and
assistant trust officer; Helena D. Reed.
assistant trust officer, Robert E. Lee,
Richard A. Norris, D. Hammond Wet
Story, assistant cashiers, and William
M. Harris, auditor.
Building Boom on Island.
With purchases of building mate
rlals running far ahead of last year,
sales of goods from continental United
States to Puerto Rico totaled S65,200,-
600 during the first nine months of
the current year and were $4,000, ,00O
or per cent, higher than in the same
period a year ago, according to a
statement by the Puerto Rican Trade
Council here.
The islands purchases of lumber
and other building materials from the
States were valued at S5,6OO,0OO and
were As per cent greater than in the
first nine months of 1885," the report
states Puerto Rico is now expert
enclng the greatest building boom in
Its materials from the mainland.
Business Best Market Guide.
Washington brokers express the
opinion that the New York stock mar
ket will be governed more by busi-
ness indlces during the remainder of
the year than by the fact that Con-
gress is again in session and is eX-
pected to take definite action on
changes in the tax base.
After all, said one broker, the ac-
ton of the stock exchange is based
largely on reports Of earnings and
prospects for future earnings. At
present earnings are making a poor
showing with no striking change like
ly before the end of the year, he added.
Whatever action Congress may take
to help the business situation will be
preceded by long discussions That
means that any legislation enacted
will have more effect on 1893 condi-
tions than on the end of 1887, brokers
assert.
Transit Stock Sells Lower.
Capital Transit stock was in the
iimelight today on the Washington
exchange when a block of $50 shares
changed hands at 812. fractionally be-
low the last previous sale
Washington Gas Light preferred
stock came out at 997s and closed
lower with sale at 99l2. In the bond
division Capital Traction IS recorded a
$1,000 turnover at 10, practically un-
changed.
Bank clearings in Washington for
the week ended November II totaled
$26,273 62485. an increase of as per
cent over the same period last year
Clearings here also scored a gain OF
5.45 per cent over the previous week
this year.
According to news dispatches, the
S1rst bank to declare Christmas bonus
this year is the Union Bank & Trust
Co. of Los Angeles, which has voted
half months salary to all employees
with the institution more than year
and a weeks pay to those of shorter
service, for the important part played
In giving the bank a favorable earn
ings record"