Evening star., 1938-11-17


Dime Savings Bank of Brooklyn.
Born in New York, he attended New
York University and became a GER
tilted public accountant, going to the
Dime Savings Bank in 1917.
Besides his many activities in the
American Bankers Association. he
served as president of the National
Association of Mutual Savings Banks
In 1933-3o during period OF great
stress in the banking world because
of depression conditions. He was
president of the Savings Bank Asso-
citation of New York 1928 1880, an
other period in which there was
plenty going on in finance and great
problems to be solved
The bank of which he is now the
head has deposits of S19l zoo, ,329,
and deposltors numbering more than
224900 Aside from his business
interests. Mr.. Benson has been a
leader in civic and social movements
He is trustee or director in other
banks, also a trustee of the Long
Island College of Medicine, Brooklyn
Institute of Arts and Sciences and
the Moody Bible Institute of Chicago.
as we'll as being on the council Of
New York University.
Bishop Freeman to Speak.
James E. Freeman, Episcopal
bishop of Washington. was one of
the leading speakers at today's
closing session of the American
Bankers Association at Houston.
Sidney F. Taliaferro, vice presi-
dent and trust officer of the Riggs
National Bank, remains Oh the
Executive Committee of the trust
section of the A. B. A., it was re-
ported here today from Houston.
AS expected, Robert M. Hanes OF
Winston Salem was elected first vice
president, while P D. Houston of
Nashville won the bitter contest tor
second vice president. The New
York Times calls this severe defeat
for the "anti-New Deal. anti-branch
bank. anti-big city CLIQUE which
supported w. L. Dean OF Kansas.
Clubs to Pay S33O,0GO,000.
Herbert F. Rawll, president of
Christmas Club Corp, announced in
New York today that about $780,
100000 will be distributed to some
100000 members throughout the
country during the week starting
Monday, November %. This sum
will be per cent ahead of 1887 and
reach 6 per cent more members. the
average check being SAT, he said.
New York leads the other States
with expected distributions of about
S95000,000. Pennsylvania comes
next with Massachusetts third New
York City's metropolitan district
total is put at S57 100000 The Bank
of America in California will dis
tribute S12,000000 The Bank of
Manhattan in New York is to give
out s3,900,000, while several other
banks will distribute more than
$l,0O0,0OO
The report says banks in Maryland
will return S7,20000O to club mem
bers, places the figure for the Dis
trict of Columbia at s6,50OOO0 and
sets the amount in Virginia at So
100000, while thrifty folks in West
Virginia will get $4,90O.000. Accord
Ing to the estimates announced to-
day. the States from Delaware to
Florida, composing the South At
lantic group, will figure in a distrl-
button of S34 100000.
New Peaks OH ID. c. Exchange.
On the Washington Stock Ex-
change yesterday, Lanston Monotype,
which had not appeared in the
trading in long time, came out at
ssh on a three-share transfer,
against the last previous sale at 5O34,
or jump for A. points.
AS already noted. Washington Gas
Light preferred climbed to 1O4l2, the
third new 1888 high mark reached
during the present week Trading
was heavy, So shares changing
ownership in seven consecutive
transactions.
Real Estate Mortgage q GUARANTY
preferred figured in nine sales of
100 shares each and one OF "a
shares, the stock opening at A. and
closing at 45s, same as the last
previous sales. Trading was by far
the heaviest of the year in this issue.
Anacostia & Potomac River r. r.
5s were active again, three $1,000
bonds changing hands at 8612. s4.-
600 and $1,000 at 86. with one $4,000
sale being registered at 85. City g.
Suburban IS likewise appeared on
the slate, $1,000 bond bringing
8612, off point.
Mergenthaler Names officers.
All officers and directors of the
Mergenthaler Linotype Co. were re-
elected at Me annual meeting of the
stockholders, held in Brooklyn yes
terday. Joseph T. Mackey is presi-
dent of the company
Frederic D. McKenney of Wash
ington was reelected vice president
and general counsel. as well as one
of the directors. George Hewitt
Myers, also of this city, was again
named to the directorate.
The annual financial report, re-
leased few days ago, revealed a
deficit. The Brooklyn plant was
closed few days ago on account of
labor problems. The officers felt
that, due to poor business during the
and closed the plant pending these
adjustments.
Heard in Financial District.
Declaration of the usual S225
quarterly dividend by the American
Telephone & Telegraph Co. pleased
about 10000 stockholders in Wash
ington.
Washington Gas preferred stock
again sold at 104l2 on the Washing
ton Exchange today. A single share
of American Security & Trust Co
stock moved at $50. Lanston Mono.
type sold at SIS fiat
Anacostia e. Potomac R. r. 5:
came out at 851a on two $l,00(
transfers. Other bonds were neg
lected.
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