Evening star., 1942-04-24

2. Bruce Frantz. American Securit,
d Trust, second vice president: Mis-,
Dorothy Werner, Hamilton National
secretary; Miss Margaret Allison
National Savings g. Trust, assistant
secretary: Thomas ], Norris, Bank oi
Commerce e. Savings, treasurer
Kenneth o. Hulse, Hamilton Ma
tional, chief counsul.
For the Board of Governors: Miss
Leona e. Draeger, Washington Loan
a Trust: Joseph r. Fitzpatrick
Second National; Robert H. Lacey
Columbia National; Herbert d
Lawson. jr., Washington Loan q
Trust; Myrtle p. Lewis, Liberty Ma
ttonal;T Paul j. Seltzer, American
Security a. Trust. John M. Christie
etiring president, will become a
member of the board for three
years. There being no opposition
these of11cers win all be elected on
May II.
Hamilton Adopts Bond Plan.
Z Following q meeting of the stafl
Of the Hamilton National Bank
President 4. G.. Graham announced
4oday that q voluntary payroll de.
6uction plan for the purchase oi
War savings stamps and bonds hat
een adopted and that voluntary
pledges indicating purchases TO the
xtent OF approximately 4 per cent
of the payroll were made, with
nearly the entire staff enrolled.
The plan wax Initiated by E C.
3Ialbach. president of the Hamilton
3snk Club, and enthusiastically
backed BY the executive staff
George r. Hoover. assistant cashier
md manager of the Northeast
Rranch, urged adoption of the idea
4 Details were worked out by Con-
3roller Arthur J.. Linn and Mr.. Hal
bach, providing for acceptance OF
Q specified portion of ofiicers and
employees semi-monthly pay In wai
savings stamps which viii be con-
verted from time TO time into war
bonds.
The meeting was most enthusias-
tic. Already IA members of the
stan have met the call to the col
ors. John H. Schooley, assistant
manager OF the Pennsylvania Ave-
nue. Branch, who will enter the serv-
ice in May. was presented a hand
some brief ease by the bank club.
Railroad Bonds Reviewed.
Merrill Lynch. Pierce, Fenner &
Beane are distributing from the
Washington ofiice an individual an
aiysis Of 20 defaulted railroad bonds
In the list are st. Paul, North West.
ern, Rock Island, Missouri Pacific
New Haven and Seaboard Air Linz
Railway issues.
The review covers the history o.
the issues, present status. tax prob.
lens, their present earnings
finances, interest status and traffic
outlook. Potential values are in
cluded. Recent special interest il
these rail bonds makes the review
timely.
ID. c. Bond Quota S6.l7S, 800.
The Treasury has announced
quotas for the voluntary purchasing
of War savings bonds, beginning a
$500. 900 900 for May, $500 600 900 il
June and 81 900 900 900 in July.
The May quota set for the Distric
of Columbia is s6,l7S.900, The state
nent shows that monthly sales from
July through January in washing
ton averaged s4,553,9l3.
Secretary Morgenthau says tn,
payroll plan is held to be the back
bone Of the new quota drive. alread,
operative in almost 60, 900 plants GOV
ering le.559, 900 employees To NEE
the quotas. 10 per cent of the Ma
tions income will be required.
Maryland's May quota is SCOTS.
800 and Virginias $8.96S 200. II
meet the new quotas will require al
immense amount of work ON tn,
part of fnanciers and others VIII
already have given great deal 0
time to the drive.
Gas Stock Price SIoe q Share.
The Washington Gas Light CO
announced To-Day that the price 10
the exercise of warrants to holder
of common stock has been fixed a
500 per share. No offering of sucl
warrants has been made, and non
will be, unless and until the regis
tration statement, filed with tn
Securities and Exchange Commits
sion. becomes effective. officials saic
Many Washington investmen
houses were offering today the ne,
issue OF 500 900 .0oo American To
bacco Co. 2o-year per cent deben
lures, brought out at 100 and accrue
interest.
Thomas J. Groom, president of tn
Bank of Commerce a. Savings, an
John Saul, executive vice presiden
of the American Security & Trus
Co, were among the new Board G
Trade directors nominated las
night. Lanier p. McLachlen. presi
Hcent Of the McLachlen Bankin
Corp. Is slated to be the next presi
lDnt