Evening star., 1942-05-28

the present, at %s.s
least. He Is 60 3a S
ing into the @
service immedi-
ately. -
Mr.. Barker lss'SS
has been presi-
dent Of the Nor -
ris Plan Bank Of Willard Barker.
Washington for the past seven years,
having succeeded Bertram Chester
man, who retired from banking on
account Of Ill health. Mr.. Barker
has been with the Morris Plan sys-
tenn for 20 years.
Harrell to Take Place.
Linwood P. Harrell, one OF the
vice presidents of the Morris Plan
Bank Of Virginia, has been appoint
ed executive vice president of the
Washington bank and will take Mr..
Barker's place for the duration Of
the war.
For 10 years he has been in charge
OF the Morris Plan Banks office
at Petersburg. Va. was formerly with
the North Carolina State banking
department and obtained his first
financial training in Greensboro,
N. C.
Mr.. Barker is the second bank
president in this territory to enter
the service, B. j. Darneille, head
OF the Suburban National Bank at
Silver Spring, having taken similar
action three weeks ago.
Transit Declares Dividend.
Directors of the Capital Transit
Co. today declared a dividend Of 80
cents per share, payable July l to
stockholders Of record June l3.
This is the same rate as was paid
three months ago and amounts to
S72 900 on the 100000 share OF cap
ttal stock.
Last year the company paid rs
cents a share quarterly, with an ex-
ira OF 50 cents per share at the year
end, making a return OF $125.
In the first quarter this year the
dividend was raised from rs to 80
cents a share, which is at the rate OF
sl.2O a year without any extra. 1t Is
far too early to forecast what might
be done at the end of 1912.
The Washington Stock Exchange
today voted to close on Saturday,
Memorial Day. During the business
session 20 shares of Lincoln Service
per cent prior preferred stock sold
at 40.
Bank Convention Praised.
Washington bank officers were
back at their desks today, high IN
praise of the three-day convention
which ended last night with the
family dinner" Support Of the
war effort in every possible way
was the keynote Of every business
session.
Preston Delano, controller OF the
currency, told the convention he
was sure the bankers of the country
would do their part of the war job
successfully"
Mariner S. Eccles, head Of the
Federal Reserve System. said he
would widen the income tax base
to q point where all who are not
below a subsistence level would make
some contribution based on ability
to pay.
when peace comes to the world"
he said, "the things we cannot buy
now because of the war. can again
be purchased without the present
dangers of bidding up prices to
ever-higher levels
Ellsworth C. Alvord, tax expert,
told the bankers he believes that the
danger of imitation, which is so con-
stantly stressed by Government
leaders, is not nearly as serious as
one might think it is.
Other Convention Notes.
Eucius v. Friedli was again the
off1ciaI recorder for the business ses-
sions. He has served the association
in this capacity for 20 years, rec
ord which drew special comment.
introduced at the closing session
were George H. Keesee, cashier OF
the Federal Reserve Bank Of Rich
mond, who is a guest every year;
James B. Edmunds of the Chesa-
peake & Ohio Railway, who has
piloted many banking parties to Hot
Springs and White Sulphur, and
William H. Donovan, member of the
law firm which serves the associa-
ton as counsel.
Attendance at the annual dinner
smashed all previous records. largely
because the affair was held in Wash
ington. 1t was also one Of the most
enjoyable yet held.
Loan Association in League.
The District of Columbia Building
and Loan League has elected to
membership the Home Loan 81 Saw
iings Association, 1881 Rhode Island
avenue NE, it was announced today.
This association was organized in
1882 and is headed by Robert W..
tWerth as president. and is under
Treasury supervision. 1t is the 25th
association to be admitted to the
building and loan league.
Martin A. Cook, general chairman
Of the fourth annual outing of the
gleague, reported Tuesday that this
affair will be the largest yet held.
More than $50 building and loan
,oficials and guests will Journey to
the Washington Golf and Country
Club.
The sale of War savings bonds
by the various associations has now
passed the $2,500, 900 mark. Secre-
tary 8. Wilson Camp reported at the
monthly meeting.
Rudolph w. Santelmann reported
on the recent conference of building
and loan executives in Chicago and
Clarence E. Kefauer announced
graduation plans for Washington
Chapter, American Savings and
Loan Institute.
Dividend Is Deferred