Evening star., 1941-01-09


surance for the bank employe and
the best form of deposit insurance
for the banks, he declared. 1nsti-
tute members not only get financial
training but through meeting people
acquire social grace and poise which
60 long way toward helping one
lead a full life, he asserted.
Public good will depends on COM
petent bank management and the
institute is constantly raising man
agement standards to higher and
higher levels. A bank whose per-
sonnel has been properly trained
will not have a goodwill problem,
Mr.. Matthews declared, adding that
senior bankers are more and more
recognizing the value Of the insti-
tute.
John M. Christie, Educational
Committee chairman and first vice.
president of Washington Chapter,
presided; President A. M. McLach-
len of the District Bankers Associa-
ton, presented greetings from that
organization; Eliot H. Thomson
spoke as dean of the institute fac
ulty. while other speakers were Ed
ward M. Blaikl6ck, president of the
chapter, and Neal Wells, chief con-
sci
More Banking Loans Planned.
President Edward D. Merrill OF
the Capital Transit Co. announces
that additional borrowings from
Washington banks will be made on
February l to take care of IS addi-
tional streetcars ordered recently.
An interesting feature of the COM
pany's expansion program, Mr.. Mer-
rill added, has been the borrowing
from a number of Washington banks
each year since 1887 in order to pro-
vide additional streetcars and
buses. The amount borrowed for
that purpose totals S4,807 900, OF
which s2,329,156 had been repaid up
to the end of 1910, leaving s2,477,844
outstanding. On January another
payment was made.
The number of cars and buses Or
dered for delivery during 1910 and
the first two months of l941 totaled
80 cars and 1T buses at total cost
Of s2,267, ,766, Mr.. Merrill said.
Pointing to the substantial growth
In traffic, Mr.. Merrill said that the
number of cars and buses in opera
ton in the morning rush hour has
grown from 719 on December l,
1888, when the company started. to
1858, an increase of 544 or 1873
per cent.
Enterprise Has New Officer.
Shareholders of the Enterprise
Building Association at the 49th
annual meeting yesterday reelected
all officers and directors. Michael
A. Keane continues as president
with Fred Kraus, vice president;
Martin A. Cook, secretary; James E.
Connolly, treasurer, and Francis j.
HAYES, assistant secretary.
A new executive post was created,
that of executive vice president with
George I. Berger selected for the
position. Directors reelected In
clude the officers and the follow
ing: Bernard r. Edwards, Maurice
Fitzgerald. C. F. Gibson, P. F. Han
nan, Ralph A. Judd and Frank j.
Torrens.
In his annual report Secretary
Cook revealed that 1910 was a ban
ner year in the history of the in
stitution with resources up S34O, GOO
over the comparable period Of
year ago He stated that an exceed
ingly active demand for home loans
marked the past year and assets OF
s2,082 900 were the highest ever at
tanned.
Lanston Declares Dividend.
Directors of the Lanston Mono
type Machine Co. have declared a
quarterly dividend of Is cents per
share, payable February % to stock
holders of record February 10. The
company paid the same amount on
November 80 last.
H. T. Bisselle, vice president, and
J. R. McMullen, assistant vice
president of the Riggs National
Bank, attended the anniversary
celebration arranged by the Shenan-
doah National Bank, Winchester,
Va, today. One of the features was
to be a luncheon for large num-
Der of guests.
Twenty shares of Washington Gas
Light common sold on the Wash
ington Stock Exchange today at
231a. Other issues were neglected.
The John Hancock Mutual Life
Insurance Co. has removed all
limitation in life insurance coverage
on fare-paying passengers on
licensed commercial airlines travel
Ing within continental United States.