Evening star., 1949-12-23
Fleming Reelected
To Advisory Council
By Richmond Reserve
By Edward G. Stone

Robert v. Fleming, presiden
and chairman of the board Of tn
Riggs National Bank, has beer
reelected to represent the Fedora
Reserve Bank Of Richmond as /,
member of the Advisory Council
to the Board Of Governors Of tn
Federal Reserve System. it wa
announced in Richmond today
Each of the Federal Reserv,
Banks has one representative OF
the council, membership beinl
considered a high honor. Mr.
Fleming has been a member O
the council in many previou
years.
Eugene c. Grady. president o
the Western National Bank, o
Baltimore. was reappointed for I
three-year term as director of tn
Baltimore branch of the Fedora
Reserve Bank of Richmond. Lac!
l. Rice. president Of the Old Ma
tional Bank of Martinsburg, w
Va, was appointed a director O.
the Baltimore branch.
Bond Purchases Advocated.
Holders Of Series D 1910 Sav.
ings Bonds. which start maturing
on January l. may reinvest all o.
part Of the proceeds in Series I
Bonds without regard to the $10.'
900 annual maturity value limita'
ton on E Bonds. Treasury Secre'
tary Snyder stated today through
the District Savings Bond Divi'
sion.
Any issuing agent qualified tt
cas-. Savings Bonds can accomp.
lish this exchange through the
simple procedure of redeemine
matured bonds registered in the
name of an individual owner OF
co-owner, and applying the pro.
ceeds to the purchase of new
Series E Bonds.
The new bonds will be dated as
of the first day Of the month In
which the matured Series D 1910
Savings Bonds are presented for
payment. In order to preserve the
continuity of the investment. in
diyidual holders Of the maturing
bonds should present them for
exchange during the month in
which they mature.
Baltz Again Vice Chairman.
Edward C. Baltz, president of
the Perpetual Building Associa-
ton. has been reappointed vice
chairman of the board Of the
Home Loan Bank Of Winston
Salem. to serve through 1850.
Horace S. Haworth of High Point,
N. c.. was retained as chairman.
Reappointment of w. Waverly
Taylor, head of the Washington
real estate firm bearing his name,
as a public interest director Of the
Home Loan Bank, also was an
nounced today. He will se:ve
four years, beginning January /.
William K. Divers, chairman of
the Home Loan Bank Board here.
today urged financial institutions
throughout the Nation to support
National Thrift Week which be-
gins January II: A special say
ings drive is urged.
Rathje Heads Rail Group.
Frank ]. Rathte. former presi-
dent Of the American Bankers
Association and president of two
Chicago banks, has been elected
president Of the Transportation
Association Of America. He Sue
ceeds the late Sidney Anderson,
vice president of General Mills.
The Washington Stock Ex-
change will follow the lead of the
New York Stock Exchange and
be closed tomorrow. The ex-
change also will take Monday
OF.
The American President Lines
distributed a year-end bonus OF
a half months salary and gold
and jeweled service pins for long
service, 10 of these awards being
made at the Statler Hotel here
yesterday.
New ABA Stamp Due Soon.
The special Scent stamp COM
memorating the 18th anniversary
of the American Bankers Asso-
ciation will be placed on sale Jan
uary 3 at Saratoga Springs, N. Y,
where the association was or
ganized in 1875.
Merrill Lynch, Pierce, Fenner
& Beane is establishing four ST.
900 college scholarships to be
given each year to the children of
its employees, Winthrop H. Smith,
managing partner, announced at
the annual dinner of the firm last
night.
Capital Transit As appeared on
the Washington Stock Exchange
board again today, $4,000 selling
at 90, same as yesterdays close.
In three days $4,000 worth OF
these bonds have changed hands
at very firm prices.
Pepsi-cola Bottling Co. of Wash
ington, Inc, has declared a divi-
dend of Sc per share, payable De-
cember 81 to stock of record De-
cember Is.