Evening star., 1953-04-19

u lity COM ~
execu-
tives and Mr. Jacobsen.
Washington businessmen will
Out-of- town bankers
and businessmen will join in the
tribute. A silver service will be
presented to him.
Mr.. Jacobsen entered the bank
on April 20. 1908. as a mes
senger. He was elected cashier
in 1917 and executive vice presi-
dent in 1898. He became presi-
dent in January, 1889.
Under his competent leader
ship, the bank has opened two
new branches, one at Forty
ninth street and Fordham road
NV. in 1850 and another at
First and o streets NE, in June,
1851.
Since he entered the bank in
April, 1908, deposits have grown
from $3,828,000 to $70,167 900.
Back in 1903 there was no trust
department. Trust assets now
total $95 million.
Has Wide Interests.
Mr.. Jacobsen is treasurer and
director Of j. Frank Kelly, Inc,
and vice president and director
of Geo. M. Barker Co. He Is
treasurer of the National Asso-
citation Of Motor Bus Operators.
the Woodlawn Public Founda-
tion. Inc, the American Plan
ming and Civil Association and
the National Trust for Historic
Preservation. In addition to serv-
ing on the banks board, he is
a director of the Potomac In
surance Co. and Fidelity Storage
Co.
He is chairman OF the advisory
board. National Society, Daugh-
ters Of the American Revolution.
and chairman of the board Of
financial advisers, General Fed
Grafton of Woman's Clubs.
He also is a trustee Of the
Better Business Bureau and the
Boys Club of Washington and
a member of the Washington
Clearing House Committee, New
comen Society in North America.
the Association of Oldest In
habitants and the Columbia His
torlcal Society. He is a member
of the Shrine, testers and Elks,
the Washington Board of Trade
and the District Bankers Asso-
citation.
Auto Sales Above 1852.
Sales of both new and used
cars in Washington exceeded a
year ago in the first three
months of this year. the Traffic
Bureau disclosed yesterday.
The bureau issued 6,847 new
car titles, compared with 5,662
in the same period last year, and
1883 title transfers, compared
with 1928 a year earlier. Trans
fers are representative Of used
car sales.
New-car titles in March to-
tailed 3,155 VS.. 2.495 a year ear
lier, while title transfers totaled
8.495 VS.. 7.441.
Bond Exchange Offered.
Chairman Edward C. Baltz OF
the District Savings Bond Di-
vision yesterday reminded all
holders of F and G Treasury
bonds which mature between
May l and December, 1858, Of
the Treasury offer to exchange
their bonds for the new Treasury
3H per cent fully marketable
bonds.
Application must be made be-
fore May /. Mr.. BaltZ warned.
Arrangements for the exchange
should be made at Federal Re-
serve banks and branches, but
Washington banks will be glad
to advise holders. he said.
The offer does not apply to
Series E Savings Bonds which
mature in the same period. Ex-
changes of Series F and G bonds
will be made par for par and will
be allotted in full. The lowest
denomination Of the new bonds
will be $500. but holders of small
er denomination Series F. and G
bonds may exchange them for
the next higher multiple of $500
by paying the cash difference.
ABA Council in Session.
Bruce Baird. president of the
National Savings g. Trust Co.,
is attending the annual spring
meeting Of the Executive Coun-
Gil of the American Bankers
Association at the Greenbrier.
White Sulphur Springs, w. Va.
Mr.. Baird represents the Dis
trict of Columbia on the coun-
Gil which is the governing body
of the ABA.
Robert v. Fleming. president
of the Riggs National Bank.
and Wilmer j. Waller, president
Of the Hamilton National Bank.
also are attending the meeting.
Mr.. Fleming, a past president
of the ABA, is chairman of it's
Government Borrowing Com
mittee.
Show Chairman Named.
Bertrand G. McGinniss of 1431
H street NV. has been named
for the 1854 National
Capital Flower and Garden
Show, it was announced by
of the Allied Florists
He was co-chair-
man of the 1853 show in March
and is partner in Flowers. Inc.
James Beun has been named
manager of Sperling
Furs, 709 Thirteenth street NV.
j. D. Stetson Coleman, board
chairman Of Coleman-Meadows-
Pate Co. Of Georgia has been
elected a director Of Capital