Evening star., 1939-03-09


Ofice.s of group 3 of the Virginia
Association are E. w. Cox, chairman,
cashier First Citizens Bank & Trust
Co., Monterey; Frank S. Driver, vice
chairman, assistant cashier Au-
gusta-R Rockingham Bank, Weyers
Cove, and P. ". Anderson, secre-
ary-treasurer, Marshall National
Bank & Trust CO., Marshall.
The group 3 territory consists of
18 counties running from Alex
andria to Sraunton and from Greene
to the Potomac River. Both officers
an6 employees have enrolled in the
course. Mr.. Siddons, who will give
one of the addresses himself an
nounced that the other speakers
we'll be:
Charles C. Boswell, assistant treas
urer, American Security & Trust
Co.: Warren R. Forster. vice presi-
dent, Hamilton National Bank; Ed
ward M. Foreman, Riggs National
Bank; Stuart S. Ogilvie, assistant
cashier, Second National Bank;
Frank M. Perley, trust investment
officer. American Security & Trust
Co.: L. Pierce Riddle, personnel
manager. American Security & Trust
Co.; William E. Schooley and Paul
j. Seltzer, assistant treasurerS,
American Security & Trust Co.;
Eliot H. Thomson, publicity man
ager, Washington Loan g. Trust Co.,
and w. T. Vandoren, vice president,
Liberty National Bank.
Mr.. Thomson will fire the opening
Run in the series at Marshall this
evening.
Bankers Favor Five-Day Week.
Washington bankers have been
much interested in recent reports
from New Jersey showing that
bankers in that State favor Sat-
urday closing during the entire
wear. The plan was tried in some
banks last summer and met with
wide approval. That is why the
full-year plan is now being so wide
lv favored. The jersey State
Bankers Association is taking an
active part in obtaining informa-
ton on the wishes of a majority
of the various bank officials. The
matter is now before the State
Legislature.
New York State is considering
Saturday closing next summer.
There is a bill before the Leglsla-
ture, and roll indicates that a
majority of the Empire State bank
ers favor the Saturday holiday.
They want to give the experiment
summer trial before considering
any all-year plan.
Bankers in the Capital have as
vet given the matter no official
consideration. If New York banks
should close on Saturdays the banks
here could make no Saturday col
lections in New York. Other ad-
iustments with correspondent banks
would also be necessary. Later
Saturday closing might happen
here"
The wage-hour law has made
overtime an important factor IN all
banks. Some bankers here say that
Saturday closing might solve extra
overtime costs. At any rate, the
matter has aroused a lot Of dis
cussion.
Bank Declares $3.50 Dividend.
Directors of the Bank of Com
merce and Savings, meeting yes
terday. declared the regularly quar-
terly dividend of $3.50 per share on
the outstanding stock, payable April
l. to stockholders Of record March
20, Executive Vice President Thomas
J, Groom announced today.
This bank paid regular dividend
of $40 a share on the stock last
year and in the last quarter added a
So extra. The total of Sl3 was the
highest return paid by any bank in
the city in 1888. The bid on the
Washington Stock Exchange now
stands at $265 a share, with none
offered.
d. c. Appraisers to Meet.
Clarence E. Kefauver of the Co.
lumbia Building Association, who
was instructed by Arthur G. Bishop,
president of the District of Colum-
bia Building and Loan League, to
develop the idea of local chapter
of resident appraisers, announced
last night that plans had been made
for an initial meeting March 10.
Mr.. Kefauver said that any one IN
terested in the subject of apprals-
ing would be welcome to the session,
which will be held at the Federal
Home Loan Bank Building, Second
street and Indiana avenue NV, at
BIS pm.
Working with Mr.. Kefauver from
the league are F. Wilson Camp OF
the District Building Association
and Robert E. Buckley of the Ma
tional Permanent. 1t was stated
that Frederick M. Babcock, deputy
administrator of the Federal Hous-
ing Administration, and Paul Hath
away from the Home Owners Loan
Corp. will be the principal speak
ers.
Heard in Financial District.
H. Reid Mitchell, jr., has been
chosen to attend the present session
OF the life insurance school con-
Quoted by the Travellers Insurance
Co. at its home office in Hartford
He will remain at the Connecticut
capital until March "a, when the
four Weeks course in underwriting
practices and sales procedure will be
concluded.
Washington Gas Light stock
opened at 1912 and closed at los on
the Washington Exchange today
Capital Transit sold at 7l2. Wash
ington Gas Light SIS, 1860, moved
at 125s4.
Chairman Steagall of the House
Banking and Currency Committee
has introduced his bill to increase
from $4,000 to $4,000 the limit OF
insurance on deposits in all banks
that are members of the Fedora,
Deposit Insurance Corp.