Evening star., 1941-04-09

Assistant CASHIERS ana Dfancn |
managers include T. E. Elgin, |
Georgia avenue office; T. f. Norris, /
Connecticut avenue; J. C. Stephen
son. Tenth street and Pennsylvania
avenue; F. H. Weaver, Eighth and .
G streets Sc, and A. NJ Atkinson, |
Ninth and East Capitol streets.
B M Grant. an assistant cashier |
and former branch manager, Is !
now assistant credit manager in the
main office and William B. Mehlcr,
IT, also former assistant cashier !
and branch manager, has been
placed in charge of the personal
loan department. Some changes
have been caused by employees en-
tering military service.
President Burton reported that in
the last quarter of the banks year |
surplus was increased from S350000 !
to s500000 In the same period cap
ital debentures were reduced from
100000 to S125,000.
Insurance Directors Elected
Charles Kattelmann, L. Pierce
Boteler and W. A. H Church were |
reelected for three-year terms as
directors of the Mutual Fire Insur-
ance Co. of the District OF Columbia .
at the 86th annual meeting of the
stockholders held Monday. The other
directors include Henry E. Bittinger.
Charles W. BOteleT. Charles F. Crane |
and Robert E. Buckley. President
Kattlemam presided,
Secretary L. Pierce Boteler re-
ported that premium and invest
ment income had increased sub
stantially during the year and the |
total amount of insurance in force
reached the highest point in the
company's history.
Mr.. Boteler also reported that in |
addition to surplus deemed ample |
for all contingencies special ca
taStrophe reinsurance contract had |
been established affording unusual |
protection to the company and its
policyholders in the event of con-
f1agration or tornado.
A resolution was adopted felici-
tating Secretary Boteler on begin
ming his 46th years service with the
company.
hukC biNNoSN'
The Treasury expects to sell 81
600 900, 900 of the new issues OF
United States savings bonds in the
month of May. it is reported in the
financial district The nation-wid
campaign opens on May l.
Every citizen in the United States
will be asked to have patriotic
and financial part in the coming
drive and buy as many bonds As
possible While there will be an
appeal to patriotism, the bonds will
be sold largely on their merits as
Investments.
As reported by President P. D,
Houston of the American Bankers
Association, 5000 banks are ready |
10 assist in the bond sales, as are
the leading building and loan as
sociat tons and the Nations biggest
insurance companies. Mr.. Houston
considers the sale of the bonds as
important "as the construction OF
planes. tanks and guns
Three new kinds of bonds will be
on sale. The first kind. called De-
fense Savings Bonds. will be almost |
identical with the present Baby
Bonds" of which more than s5.000,-
600 900 in maturity values have been
bought, Washington alone taking
more than s80,000000.
Net Earnings of Alb Banks.
Reporting on the operations of
4l8 banks in the Fifth Federal Re
serve District. the Richmond Bank |
says that banks with deposits over
$4,000 008 made the largest net
profits in relation to their capital |
funds in 1910, whereas those banks |
with deposits Of $4,000 600 to So
900 600 were most profitable in 1889. |
Interest and discount on loans |
constituted a larger average portion |
of total current earnings in 1910 |
than in 1889 for all deposit classi- |
fcations. while interest and divi-
dends on securities constituted a !
smaller average part of total cur
rent earnings than in 1899.
The average net return on loans" |
was higher in 1910 than in 1899 for |
all classes Of banks except the 81 |
100000 to S5.0O00OO group. and the
rate of return in that group av-
eraged the same as last year. ~
Time deposits were a somewhat !
smaller average proportion Of total
deposits in 1910 than in the previous
year except for the $3.50 900 TO $780, !
900 deposit classification. The aV-
erage rate Of interest paid on time
deposits declined slightly in four
deposit classification and remained
the same in three.
Bank Votes Usual Dividend.
Directors Of the National Savings |
s Trust Co. have declared the reg
lIlar quarterly dividend of 81 per
share on the capital stock. payable
MAY / TO stockholders of record
April %, President Bruce Baird an
nounced today.
All banks in this distict were
notified today by the Federal Re
serve Bank of Richmond of the two
$500 900 600 Reconstruction Finance
Corp note issues offered through |
the Treasury. Full details about
the offerings are included.
There was an unusually large
attendance IN the New York Stock
Exchange Offices here today the
Balkan war and the strike situation
causing unusual concern among
market followers The market
opened lower, but without heavy
selling
David Bornet, vice president of
the National Savings Trust Co,
has returned from vacation IN
Florida.
Today's Trading on Exchange.
Capital Transit stock sold at IT
on the Washington Stock Exchange
again today, closing with l6 bid and
17la asked.
Capital Traction SIS registered two
e50O transfers at lO4la unchanged