Evening star., 1940-09-12
Commerce & SAVINGS
Directors Elect
Robey Cashier
Two Other Promotions
And Dividend Voted
At Monthly Meeting
BY EDWARD c. STONE.

y
sistant cashier, was elected cashier
to succeed Thomas j. Groom, who
has held the Office in addition to
that of executive vice president;
Helen R. Sharpe, assistant secretary,
was elected secretary in place of
Joseph H. Mifans, who retired be-
cause of the law prohibiting inter-
locking directorates. and Thomas ].
Norris, manager Of the H street
branch. was made assistant cashier
to fill the vacancy created by Mr.
Robey's advancement.
Mr.. Robey has been with the bank
since 1918, advancing steadily, He
is immediate past president OF
Washington Chapter, American In
stitute Of Banking, is enrolled IN
the Graduate School Of Banking
conducted at Rutgers University by
the American Bankers Association,
and is a member of the Washington
Board of Trade.
Mrs. Sharpe has been associated
with the bank more than 10 years.
She is a past chairman of the safe
deposit section of the District Bank
ers Association, the first woman to
occupy the office. She has been ac-
tive in Red Cross and Community
Chest work and is a member Of the
Soroptimist Club of Washington.
Mr.. Norris. with the bank since
1927, will continue as manager Of
the branch office at North Capitol
and H streets. A native of Wash
ington, he is a graduate Of the Amer
lean Institute of Banking, is a men,
Der of the Board of Governors of
Washington Chapter, as we'll as
member of the Washington Board of
Trade
At the same meeting the directors
declared the regular quarterly divi-
dend of $3.50 per share, payable
September 80 to stockholders Of
record September 20.
Bank Increases Dividend.
Directors of the Prince Georges
Bank & Trust Co. have declared a
dividend of per cent and an extra
dividend of 2 per cent, both payable
October l to stockholders Of record
September 26. This is an increase
over the payments last April when
the bank disbursed a per cent divi-
dend and per cent extra. The
stock is listed on the Washington
Stock Exchange, 10 being bid with
the stock offered at 25.
Two new bond issues were offered
to investors here yesterday One
was the S480,0O0 State Of West Vir-
ginia per cent and IL per cent
road bonds They are due Sep
tember /, 1941-1964 and priced to
yield from 0.20 to ITS per cent, ac-
cording to maturity.
The other offering was the issue
of $572,000 City of Norfolk CVaJ
bonds, priced to yield from 2.35, &C
cording to maturities ranging from
1858 to 1862.
Institute BoOms Education.
The annual fall educational
dinner. as it is called, of Washing
ton Chapter, American Institute Of
Banking, takes place this evening
at the Columbia Country Club, with
Harold Stonier, executive manager
of the American Bankers Associa-
tion, as the headline speaker. Mem
bers of the faculty, officers. COM
mittee chairmen and consuls will
be present. First semester oau.-
ing courses will be stressed.
Fifty Years With Perpetual.
Miss Sarah R. LaWton, who en-
tered the service of the Perpetual
Building Association SO years ago
this week, will be honored with a
testimonial dinner at the Lafayette
Hotel this evening at $50
Miss Lawton, who is retiring from
business activity, will be Joined for
the dinner by the Perpetual's officers
and directors, as we'll as by all of
her clerical associates. Edward C.
Baltz, secretary of the building asso-
citation, will be POSTMASTER.
Broome Assumes New Post.
S. P. Broome has assumed his new
position as special representative of
the Crucible Steel Co. of America
to cooperate with the National De-
fense Advisory Commission, to which
he was recently appointed.
He will conduct laison work be-
tween the steel company and the
commission. Mr.. Broome was
formerly Eastern sales manager of
the company's subsidiary, the Pitts
burgh Crucible Steel Co. In his new
work he is located in the Shoreham
Building.
Shorter Banking Hours Hinted.
Col. Philip Fleming, Federal Wage
hour administrator, said yesterday
that he was certain the wage-hour
law covers the banks, and beginning
in october bank employees will come
under the 40-hour week provision.
To shorten hours he suggested to
Iowa bankers that the banks might
close all day Saturday or on some
afternoon during the week, possibly
Wednesday. Washington bankers to-
day expressed deep interest in his
remarks. On account of Government
pay days, they said it would be easier
to adopt Wednesday than Saturday
closing. The public might object to
having the banks closed from Friday
afternoon to Monday.
Exchange Trading Light.
Trading on the Washington Stock
Exchange today was limited to
small lot sale of Capital Transit
stock at 1112. The market closed
with liz bid and 13 asked.
cyril B. Upham, first deputy con-
troller of the Treasury, predicted
more changes in banking in an ad-
dress before Iowa bankers yesterday.
Washington members OF the New
York Stock Exchange expressed
satisfaction today over the action of
the Board of Governors in dropping
the idea of adding an hour to the
daily trading. The plan was strongly
opposed here.
Gross revenue from air express for