Evening star., 1943-07-28
Committees Named
By Capital Bank
Fiduciaries
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Three more important committees
were appointed today by Earl G
Jonscher. chairman of the Fiduci-
aries Section of the District Bankers
Association, following a meeting OF
the officers and executives council
during which plans for the year
were outlined. The committees fol-
low:
Taxa tion-William Rea. American
Security, chairman: Bernard L.
Arniss, Washington Loan; Frederick
Burrell National Savings: Edward
A. Dent. jr, National Metropolitan
Mildred Foy, Riggs National: Thom-
as Grant. jr., Union Trust; J. Frank
Rice, Lincoln National
Trust Investment-Max E. Quig-
ley, National Metropolitan, chair
man; Frederick L. Church. jr., Riggs
National; William C. Deter, Union
Trust: Charlotte Engel, National
Savings; Warren R. Forster. Ham
ilton National: Nelson J. Foster. Ma
tional Savings: B. Bruce Frantz,
American Security.
Trust Law and Legislation-Hen-
ry K. Dierkoph, Riggs National,
chairman; Kenneth F. Brooks, Riggs
National; j. Wesley Clampitt, jr. and
Willard G. McGraw, Union Trust;
Edward F. Colladay, Second Nation
al; Louis M. Denit, Bank of WASH
ington; William S. French, jr.,
American Security; Erskine Cor
don. Hamilton National, J. Fontaine
Hall. National Savings; R. F. Hol-
lingsWorth and Thomas H. Reynolds,
National Metropolitan.
William G. McGraw has been Sc
lected to edit the legal bulletin. In
addition to Chairman Jonscher, the
executive council includes Lester A..
Lawrence, Edwin B. Shaw, William
V. Simmons, Willard G. McGraw
and Aubrey O. Dooley.
Virginia Bankruptcies Drop.
The Federal Government strin-
gent credit regulations are the chief
cause of so per cent decrease in
bankruptcies filed in Virginia during
the fiscal year ended June 80 COM
pared with the previous year, ac-
cording to Richmond reports. Only
285 bankruptcy petitions were filed
compared with 639 in the preceding
year.
For the first six months of this
year only SO petitions were filed.
During June eight we're filed. the
lowest number in recent years,
court officials said.
The Government order freezing
credits in retail buying and the
large increase in employment are
given as the main reasons for the
decrease.
CCC Reduces Interest Rate
Interest rates on 1912 farm
stored wheat loans guaranteed bv
the Commodity Credit Corp, and
payable to banks after July 81. have
been reduced by the CCC from 1l-2
to IA per cent, instead of l per
cent, as had previously been an
nounced by the CCC.
The lower rate caused vigorous
protests from the banks, resulting
IN conferences between J. B. Huston
president Of the CCC. and officers of
the American Bankers Association,
including President w. L. Hemine-
way and D. j. Needham, chief coun-
sci.
Baird Heads Banking GrG.o.
Bruce Baird, president of the Ma
tlonal Savings & Trust Co.. will be
challman of the Banking and Finan-
clal Division of the District of Co.
lumbia War Finance Committee for
the September War bond drive, it
Is announced in the financial dis
trict.
Mr.. Baird has served in similar
capacities in other campaigns. hav-
Ing teen chairman of. the Red Cross
1und IN 1912, the banking section in
1912 and the financial section in
l943 Of the Community War Fund
campaigns. Mr.. Baird is also second
vice president of the District Bank
ers' Association.
John A. Reilly, president of the
Second National Bank. is general
chairman of the coming War bond
campaign.
Safe Deposit Box Taxes Rise.
The Bureau of Internal Revenue
reports that tax income from leases
on safe deposit boxes for June
amounted to S421 .35a. Compared
with the same month last year, this
was gain of $59,943
Receipts from this source from
July !. 1912, to June 30. lo43. reached
S6,070,096. an increase of s2.4O7,560
over the preceding year, the report
said.
Potomac Electric Power 5i2 per
cent preferred reached a new l943
peak on the Washington Stock Ex-
change today wheI % shares sold at
49,. Capital Transit was again
strong, selling at 81
Edison B. Olds, president of the
washington Stock Exchange. is
passing his vacation on the Eastern
Shore Of Maryland.