Evening star., 1940-07-15
Jacobs Joins Insurance Board.

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June ---- 755,941 709,677
Jacobs Joins Insurance Board.
]. Wriley Jacobs, president of the
B. F. Saul Co., has been elected a
director of the National Union In
surance Co. of Washington, it was
announced in the financial district
today. Mr.. Jacobs also is a di-
rector in the National Savings &
Trust Co. At the annual meeting
the stockholders reelected these
directors:
William L. Beale, Charles r.
Brown, Floyd E. Davis, William H.
Marbury, Walter S. Pratt, jr.; John
Saul and William H. Somervell. The
board organized for the coming year
by re-electing the following officers:
Alfred H. Lawson, president; John
Saul, vice president; Floyd E. Davis,
vice president; William H. Somer-
veil, secretary, and William H. Mar
bury, assistant secretary.
The 18th annual financial state
ment for 1899 showed total assets
of $542, ,32848, home Office building
and land valued at $4,000, mort
gage loans on real estate, $416 ,548.95;
total liabilities, except capital, $lO6,-
B57 SO: capital, 100000; surplus over
liabilities, $235,47O.79: and surplus
as regards policyholders, $435, ,47079.
Brokerage Firm Adds Partner.
Waldorf j. Gutmann, who started
in Wall street as runner in 1909,
will be admitted to the firm of Mer-
rin Lynch, E. A. Pierce & Cassatt
today as general partner, the
Washington otice announced. He
will represent the firm as its broker
on the New York Curb Exchange.
Mr.. Gutmann's first job was run
ming errands for the Waldorf
crowd" in the old Waldorf-AstOia
Hotel in New York, for such men
as E. H. Hartman, Charles w.
'Bet a Million" Gates, Barney"
Baruch and James r. Keene.
In 1909 practically all brokerage
customers did their business in
margin. Today over half the broker
age business is said to be for cash.
In the old days Wall Street consid-
cred a $1,000,000 account small and
there were a good many $4,000, 900
accounts.
At present Merrill Lynch. E. A.
Pierce e. Cassatt have about $4,000
accounts throughout the country
and officers say that only one is
over s2,000,00o.
More Bankers on Vacation.
George o. Vass, vice president and
cashier of the Riggs National Bank,
started on his vacation today and is
taking his family to California on
a motor trip. He is going by the
Southern route to Los Angeles and
from there up to San Francisco.
His route calls for visits to many
of the national parks.
w. w. Keck, assistant treasurer
OF the American Security & Trust
Co., is spending three weeks vaca-
tion in Ohio.
Erskine Gordon, trust officer of
the Hamilton National Bank, is
spending the week at Cape May.
George M. Fisher, vice president
and treasurer of the Washington
Loan & Trust Co., is passing his
vacation at Atlantic City and the
New York Fair.
c. H. Pope, president of the Mum
sey Trust Co., is now at Goshen, N.
Y, and P. j. Mcmahon, vice presi-
dent and assistant treasurer of the
trust company, is spending a short
vacation at Rye, N. Y.
Calnan Returns to Liberty.
M. H. Calnan, president of the
Liberty National Bank, was back
at his desk today, following an op-
Grafton for appendicitis and a re-
cuperation period spent at Atlantic
City.
G. H. Jacobsen. president of the
National Metropolitan Bank, was
another bank executive back at his
desk today.
Ralph G. Wilson, assistant cashier
OF the National Bank of Washington,
is away on his vacation.
Gerald E. Keene, assistant cashier
OF the Second National Bank, started
on his vacation today.
Albert E. Yeatman, assistant
cashier of the Columbia National
Bank, is passing his vacation at
Sea Isle, N. Y.
H. T. Bisselle, a vice president of
the Riggs National Bank, is enjoy
ing the week in New York State.
Junior Bankers at Harrisburg.
The following members of Wash
angton Chapter. American Institute
of Banking, attended a regional
. meeting in Harrisburg Saturday, at
which there was a full discussion of
program plans for the coming year:
James B. Ahalt, City Bank; Neal
w. Wells an1 Robert c. Christie,
National Savings & Trust; Kenneth
Birgfeld, American Security &
Trust; Edward c. Halmead, Subur-
ban National, and John M. Christie,
Riggs National. AS vice president
OF the chapter, Mr.. Christie repre-
sented the president, Edward M.
Blaiklock, now on vacation.