Evening Star Newspaper, January 10, 1922, Page 22

BASIC CONDITIONS ARE SHOWN TO BE SOUND AND IMPROVING Many New York Merchants Go Farther Than Discounting Their Own Bills, Relieve Liquidation Effects. BY JAMES ALLERTON. Special Dispatch to The Star. NEW YORK, January 10.—Many merchants in this section are dis. counting their bilis, but an even more hopeful sign is that they are dis- counting the effects of the liqquida- tion of some of the smaller and weak- er concerns. It has been recognized that some of the houses which had been doing business on an unstable basis and were unable, therefore, to meet the present keen competition, would have to be weeded out at this time, but business in general is not unsettled on this account, as it is rec- ognized dfllfl! bn‘llc conditions are sound and improving. oAdVerllalng men here declare that canvass of their clients in widely dif- ferent lines shows that business has taken an upward trend, and that the vertising has increased 200 per cent in some in- within the last two months. The cotton goods trade is gradually gaining volume after the holiday pe- riod of quiet, although prices have softened in the last few days. The woolen markets are awaiting the new gflco 1lists and !|h0'ln{l for 1922 goods the leading interesf yBllll(lern' h‘lrdw:re. light fixtures and housefurnishings are fairly Ml?- tive, and plate and window glass is in good demand. Pittsburgh Business Men Expect Trade Expansion BY H. B. LAUFMAN. Speetal Dispatch to The Star. PITTSBURGH, January 10.—Plant operations have commenced to ex- pand again in this district after the contraction of production around the first of the year. Steel production is on a larger scale in both the Monon- hela and Allegheny valleys. The llsburgh Steel Company has re- sumed operations at Monessen, and the Allegheny Steel Company has in- creased production at its Tarentum plants. A canvass of the business firms here today showed an almost unani- ‘mous opinion that trade will gradu- ally expand during the present year. Retall lumber dealers report almost unprecedented activity in the Pitts- burgh district. One builder is start- ing work on eighty-eight dwellings. The November and December ofl productio in Pennsylvania was con- siderably In excess of consumption, and_the latest cut in Pennsylvania crude ofl did not come as a surprise to oil men here, although it is ex- pected to curtail fleld work to a cer- tain extent. Coal and coke markets continue very quiet, but the placing of orders for steel and cars, suggest- ing a better demand.for steel, has helped to produce a better sentiment in coke and coal. Bank Credit Is Boosting Farmers’ Buying Power BY L. 8. MeKENNA. Epecial Dispated te The Star. ST. PAUL, January 10.—The aid now being furnished the agricultur- ists of the northwest through credit - supplied by the banks of the Twin Cities and federal agencies is grad- ually increasing the buying power of the farmer, and as a consequence of th improvement, noted this week, finandlal leaders expect a steady in crease In practically all lines of busi. ness for the next two months. Bu: ness in St. Paul and Minneapolis is good, despite the post-holiday slump. Retail trade is active and is re- sponding satisfactorily to the stim- ul}u of pre-inventory and white goods sales. Wholesalers and jobbers are filling some orders for immediate shipment go good. Their salesmen will go on the road within the next fortnight. and shoe makers are receiving & fair mail order trade and the de- mand for harness is far better than it was a year ago. Hardware sales have not fallen off from recent weeks, but the volume of trade is from 30 to 40 per cent under that of a year ago. Fifteen hundred men will find em- ployment as soon as the weather turns cold again. The annual ice harvest has been interrupted by a week of warm weather and that number were temporarily laid off. ‘The return to work of 1,000 clerks of the Great Northern railroad and 500 of the Minneapolis and St. Louis | Wi has aided the employment situation. Commodity Reports From Various Sections Cotton. NEW YORK., January 10 (Special).— ‘The activity in the market for deni in epite of the recent increase of half cent a yard in quotations in this “market is taken to indicate a much Dbetter feeling regarding the business situation by overall makers throug] out the country. ‘Wool. LAWRENCE, Mass, Janua 10 (Special).—The American v;’yoolen Company will open its 1922 lines of heavy-weight woolen goods within the next:two weeks. It is positive that prices will be as high as they ‘were & year ago and it is probable that some small advances will be asked. SAN FRANCISCO, January 10 (Spe- «cfal).—The demand for wool in this market is spasmodic and buying halts | Ameri ‘when prices begin to move upward. Grain, SAN ANTONIO, Janua: 10 - efal).—Three million bll;{nll o!(gggn piled on the ground in Dallam county are being burned by farmers for fuel for lack of a market. Jewelry, NEW YORK, January 10 (Special). —The first part of .hmllvry l)n the jewelry trade nas given indica- tions that the business this month ¢ somewhat better than is usu- this season of the year. Fruit. SAN FRANCISCO, January 10 (Spe- clal).—There are large stocks of :’;- ples in storage here and cutting of prices by some retailers has com- The market has been weak- ened by rome inferior stock. Hides, CHICAGO, January 10 (Special).— ‘The hide market is steady, although buyers are exhibiting little interest. Country hides, in good condition at this time of year, are attracting the most attention and are in fair demand at prices ranging from 8 to 11 cents a pound. ‘will al at Stik. . PATERSON, N. J., January' 10 (Spe- cial).—There has been a slight broad- ening of the demand for finished silks, ‘but the progress is very slow. Manu. facturers have not been e to reffac the adv: n raw silks is the prices of the produnt Copper. WEW YORK, January 10 (Special). ~—Predictions are freely made in the copper market here that there will be & decided advance ip the price of t! rea metal before a general resump- tion of production at the mines can take place. Blectrical Machinery. Iine basera] Blesine Compenys Slant at Jiest Lynn new 8 oparating I l | l nd spring prospects are declared to | Po Pot five days a week. Operations have shown a gradual increase since last summer, when production was down to 50 Fer cent of capacity. Many pub- lic utilities compantes are figtring on new equipment. PITTSBURGH, January 10 (Special.) —Pittsburgh dealers will erect an “electrical” house to show to what extent electricity may be used in re- ducing household labor. Every known electrical apparatus will be installed and the house will be open for public inspection, Coal. SAGINAW, Mich., January 10 (Spe- clal).—The coal output of the mines near here in .1921 was 500,000 tons below that of 1920 owing to weather conditions. oiL KANSAS CITY, Mo., January 10 (Speclal).—The Barnsdale Refining Company, a subsidiary of the Barns- dall Corporation of New York, is put- ting into shape a storage tank and %aubmue here which will cost §150,- Iron and Steel. PITTSBURGH, Pa., January 10 (Special).—The "American Steei and ‘Wire Company has cut cold rolled strip steel from $3.75 to $3.50, to meet competition, but the steel mar- ket in general is steady at the fol- lowing figures: Black sheet, $3; gal- vanized ‘sheet, $4; tin plate, $4.75; bars, shapes and plates, $1.50; hoops, bands and hot-rolled strips, $2; plain wire, $2.25; wire nats, $2.50; standard teel pipe, 71 per cent off base. Notes. CLEVELAND, January 10 (Special). —The Erie railroad has invited about one hundred of its shop employes to return to work here, provided they consent to open shop conditions and a 10 per cent reduction in wages. ST. PAUL, January 10 (Special).— St. Paul banks now have on deposit $135,000,000, a gain of $5,000,000 from a year ago, while the total deposits|w. of the Minnesota banks aggregate $700.000,000. Minneapolis savings banks ended the calendar year with deposits totaling $48,972,736, a gain of $1,000,000 in the last year, while the total Minneapolis deposits exceed- ed $225.000,000. The St. Paul Federal Land Bank now has loans outstand- ing exceeding $55,000,000. MONTREAL, January 10 (Special). —Owing to the almost total cessa- tion of outdoor work, except in the lumber camps, the unemployment problem in Canada will be a serious one during the next ten weeks. This condition, coupled with the lack of buying power by the farmers, is taken by merchants to foreshadow three months of dull business until spring brings & renewal of construc- tive work. —_— Washington Stock Exchange BALES. atiashington Rallway and Electric 4s—$1,300 Potomac Electric deb. 6s—32,000 at 9. American Tel. and Tela. Co.—10 at 115 Lanstoa Monotype—5 at 7 AFTER CALL. Capital Traction 55—$500 at 95. Capital Traction—5 at 96%. “v;;;amnnn Loan and Trust Company—10 Mergenthaler Linotype—S5 at 130, 2 at 120%, 5 at rl%. 1 at 130, 130, 1 at 130. - Money—Call loans, per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. 3 id. Asked. American Tel. and Telga. 87 8715 American Tel ind Telga. 95% 9% Am. and Tel. ctl. tr. 921, 93 Am. Tel. and Tel conv. Gs.... 100 108% Anacostia and Potomac 76 80 Anacostia and Potomac gu: 8 80 c. P. Telephone 3 1% ... C. and P, Tel. of Va. 5s. 88 Capital Traction R, 4% 95K City and Suburban 5s k3 ight 5. Electric Light cons. 5s lectric Power fs.... m. 6e Washington Gas 7 66" Washington Rwy. and Elec. 4 i Wash. Rtwy. and Elec. §. m, 6s. Riggs Realty Ss (long). Riggs Realty Ss (short). Washington Market s, ‘Washington Market S, W. M. Cold Storage 1151 American Tel. a ion 9715 50 25 FIRE INSURANCE. 2=E.§ TITLE Columbia Title . Real Estate Title INBURAN CB. 85;; 8o ~ gf:‘“'E —_— BERLIN BANK STATEMENT. BERLIN, January 9.—The state- ment of the Imperial Bank of Ger- many, &8s of December 31, shows the following changes: Total coin and 2,862,000 marks. Gold increased 1,697,000 marks. Treasury notes increased 754,963,000 marks. Notes of other banks decreased 6,- 670,000 marks. Bills discounted increased 15,293, 638,000 marks. Advances decreased 6,540,000 marks. Investments decreased 6,755,000 marks. Other securities increased 32,309~ 000 marks. Notes in circulation increased 4,- 643,914,000 marks. Deposaits increased 11,116,470,000 marka Other labilities increased 359,183,- 000 marks. sold holdings, 995,392,000 Total ——— marks. VISIBLE SUPPLY OF GRAIN. YORK, January 10.—The visible supply of American grain shows tke following changes: Wheat decreased 1,629,000 bushels. Corn in- creased 08,000 Oats de- creased 546,000 bus] 375,000 bushels. Bar! 000 bushels. bullion increased bushels. 1s. Rye increased oy decreased .14, e NEW DIRECTORS IN LOCAL BANKS (Continued from First Page.) the Standard from a savings to a na- tionai bank. Edward Brashears and M. Frank Ruppert were the two new directors|B. Cochran, elected by the Standard. Those ri elected included: Wistar M. Balder: ton, J. Rozler Biggs, Mrs. M. Brook: John J. Costinett, jr.; A. J. Driscoll, Ernest G. Walker, Charles Stanley and Fred J. White. Reorganization followed immediat: ly and Algernon_ 8. elected president; J. Rozier Biggs and and James Trimble, jr., cashier. Riggs Bank Election. Randall Hagner and Duncan Phillips were added to the list of directors of the Riggs National Bank. Those re- elected were Charles C. Glover, Wil- liam J. Flather, Milton E. Alles, H. Rosier Dulany, Charles 1. Corby, Sterling Ruffin, Charles Carroll Glover, jr.; L. Kemp Duval, Louis E. Jeffries, John S. Larcombe, Henry B. Spencer, Julius Garfinkle, Fleming - Newbold, James Marrion Johnston, jr.; C. Powell Minnigerode, W. M. Ritter, Harry F. Clark and Frank J. Hogan. The election of officers of the Riggs Bank will be held Thursday, when it is expected announcement of several important movements contemplated by the institution will be made. ‘The same board of directors were re-elected by the Farmers and Me- chanics’ National Bank of George- town at its stockholders’ meeting to- day. They are: Dallas Berry, J. Mc- Kenney Bergy, Charles H. Cragin, J. E. Dyer, Henry W. Fisher, Harry V. Haynes, William King, Joseph H. Lee, George L. Nichqlson, Thomas J. Stan- ton, J. W. Sherwood, E. T. Simpson, Robert D. Weaver and R. J. Wise. Election of officers will be held Thursday. Join District National Staff. Albert Shulteis, president of the Washington Chamber of Commerce, and Elisha Hanson of ‘Chicago, asso- ciated with Senator Medill McCormick of Illinois, were the new directors added to the board of the District National Bank. Old members re- elected included T. T. Ansberry, Ralph P. Barnard, Sidney I Be: selievre, William W. Bride, A. P. Crenshaw, John W. Childress, Charles . Darr, C. J. Gockeler, Robert N. Harper, Wells A. Harper, W. Charles Heitmuller, James M. Hoge, W. { Hoge, jr.; Lewis Holmes, A. F. Jorss, iJ. Miller Kenyon, Marshall L. King, Wharton E. Lester, William P. Lips- comb, W. H. Martin, E. J. Murphy, Hilleary L. Offutt, jr.; Charles C. Rogers, N. L. Sansbury, S. P. Thomp- son, J. S. Tyree, Sidney West and E. S. Wole. Sdere, too, the election of officers will occur Thursday. There were no changes in the di- rectorate of the National Metropoli- tan Bank, and following the election of the board the bank was reorgan- ized under its old officers, which in- clude George W. White, president; O. H. PgJohnson, vice president; C. F. R. Ogilby, trust officer: C. F. Jacob- sen, cashier; J. Gales Moore, auditor, and C. E. Bright, A. H. Bedford and C. L. Eckloff, assistant cashiers. The directors re-elected were Ar- thur T. Brice. Walter Brownley, Fred- {3l erick DeC. Faust, William F. Gude, John B. Henderson, Charles Jacobsen, O. H. P. Johnson, Rudolph Kauffmaon, Dr. J. Thomas Kelley, jr.; A. Lisner, Townley McKee, C. F. R. Ogilby, John H. Moore, J. H. Ralston, Frank P. Reeside, Hugh Rellly, Willlam H. Saunders, Herbert T. Shannon, H. C. Sheridan, Charles G. Smith, jr.; Wal- | ter R. Tuckerman, W. A. msatt, George E. White and E. Francis Riggs. One Change in Board. H. N. Brawner was the only new name added to the board of directors of the National Bank of Washing- ton. The old board was re-elected intact, and included R. P. Andrews, J. M. Beavers, E. C. Brandenburg, D. J. Callahan, Dr. H. C. Duffey, Max Fischer, Maurice F. Flynne G. W. Forsberg, George B. Goetz, D. Charl- ton Graves. J. Thilman Hendrick, Frank R. Jelleff, Michael A. Keane, W. Clarence Lee, Charles Linkins, Dr. Charles R. Luce, Morris E. Marlow, Arthur J. May, John G. Meinberg, W. Clarence Miller, George Maurice Morris, George W. Moss, Clarence F. Norment, Robert E. Pairo, George P. Sacks, Charles Shafer, John Scrivener, Odell 8. Smith, George L. Starkey, James Trimble, P. J. Walshe, Harry ‘Wardman and Levi Woodbury. Reorganization and election of offi- cers of the institution will be held the last Wednesday of this month. Frank S. Hight and Jacob Schart were the new names added to_ the board at the election of the Second National Bank. Those of the old_directorate re-elected_ were Edward F. Colladay, ‘Willlam_ V. Cox, John C. Eckloff, George M. Emmerich, Thomas Grant, William M. Hannay, John W. Hulse, ‘Walter H. Klopfer, Frederick W. Mackenzie, Samuel J. Prescot{, Cuno H. Rudolph, E. J. Sacks, Edward L. Stock, Willlam H. Walker, Somerset R. Waters, Frank G. Wilkins, Na- thaniel -Wilson _and Alexander-Wolf. The election of officers will be held tomorrow. Four New Members. Four new members were added to the directorate of the Liberty Na- tional Bank. They included Edward S. Brashears, Tracy L. Jeffords, Thomas P. Littlepage and H. L. Rust, jr._Others re-elected were Clyde B. Asher, Thomas B. Brown, Charles A. Camaller, S. T. Cameron, Merritt O. Chance, ‘John B. Clark, Judson T. Cull, jr.; Dr. L. F. Davis, Paul E. Johnson, George L. Larson, Willlam H. McCray, Edward J. McQuade, Len- nard H. Mitchell, Dr. F. H. Morhart, H. Neumeyer, Dr. William W. Rob- ins, 1. E. Shoemaker, Grant W, lor and George O. Walson. Elect officers will be held next week. The old board of the Columbia Na- tional Bank was augmented by the addition of Robert L. Russell, and those re-elected to Serve this year were James E. Ament, W. Clarence Duvall, John Joy Edson, L. Whiting Estes, C. Fenton Fadeley, David J. Kaufman, James_A. Messer. John H. Miller, Theodore W. Noyes. B. Francis Saul and John N. Swartzell. The bank y- ion of change of officers is expected. The present board of directors of the Federal National Bank was re- elected ,to serve during the ensuing year. They were Byron 8. Adams, Al- bert E. Berry, Thomas Bones, Alex- ander Britton, Walter A. Brown, Joshua W. Carr, John H. Clapp, Myer Cohen, William Knowles Cooper, John Dolph, William John Eynon, W. F. Ham, H. R. Howenstein, Ralph Jenk- ins, Harry King, Ralph W. Lee, Louis Mackall, Arthur D. Marks, John L. Newbold, Frank B. Noyes, John Poole, E. D. Rheem, James Brown Scott, C. Smithson and Leon To- brine: Mr. Carr was elected to the board at a meeting held January 5. Officers of the bank will be elected Thursday. Old Board Re-] ed. ‘The following members of the old board were re-elected by the Lincoln National Bank: John W. Brawner, Floyd E. Davis, Robert A. Doré, Al- bert S. Gatley, W. W. Griffith, Melvin C. Hazen, Samuel Hart, Leroy W. Herron, Andrew Loffler, Peter Lat- terner, 8. Dana Lincoln, Patrick T. Moran, Howard R. Norton, Henry T. Offterdinger, George C. mphrey, Samuel C. Redman, Joseph Strasbur- r, William D. Suilivan and G. Tay- lor Wade. ‘With the addition of H. H. Shackel- ford to the board of the American Na- tional Bank, the roster of that in- stitution will be the same as last year, the old members re-elected to- day being Lester . W. F. Brenizer, A. L. Clarke, John T. Crow- ley, T. C. Dulin, W. T. Galliher, John R. Galloway, Isaac Gi Fred S. e dai- an s C. Wilson. 2 Following_ the election of th sectorate the bank's officers- were ' THE EVENING STAR {son, iJohnston, Carl B. Keferstein, G { Parker, will be reorganized Thursday, but no | promptly re-elected to serve during the eneuing year. They are Willlam T. Galliher, president; C. H. Living- stone, vice president; W. J. Waller, cashier; 8. L. Mitchell, H. H. Shackle- ford and H. C. McCeney assistant cashiers, and Arthur J. Linn, auditor. ‘Will Serve Amother Year. With po changes the same board of directors of the Franklin National Bank will serve for another year. They are Willlam H.-H. Allen, John R. E. Duvall, H Gardner, 8. McComas Hawken, E. F. Hall, Thomas P. Hickman, Milton Hoffenmaler, Charles P. Light, C. W. Minker, P. J. Nee, P. J. O'Hanlon and president and cashier, and Samuel M. ‘White, E. D. Willlams, W. Carl Wyatt|Thrift and J. G. Stephenson, assistant cashiers. During the transformation period Gardiner was|of the Merchants’ Bank into the Mer- chants’ Bank Trust Company, Wistar M. Balderston, vice presidents, | which will be completed in the very near future, directors of the presen bank were re-elected to serve unt the final consolidation is made. They are: A. E. Beitzell, Joseph A. Ber- berich, Gustav_Buchholz, Barry-Bulk- ley, Harry R. Carroll, Peter Dorsch, Peter A. Drury, Ernest E. Herrell, Joseph H. Keane, Michael J. Keane, Samuel A. Kimberly, J. Ernest Mitchell, Frank O'Hara, Roland S. Robbins, John R. Waller, John Walsh, William Henry White and John Zanier. It is expected that the present complement of officers will be re- elected later today to serve also until the new corporation is completed. They are Peter A. Drury, president; Joseph A. Berberich and Ernest E. Herrell, vice presidents; Frank O. Harmon, cashler; Edwin W. Pobkins, assistant cashier, and Michael J. Keane, counsel. Trust Company Eleetions. Unchanged, the same board of di- rectors of the Union Trust Company were re-elected today. They are: ‘Willlam C. Braisted, Joseph H. Cran- ford. G. Thomas Dunlop, George E. Fleming, George E. Hamilton, John H. Hanna, Walter S. Harban, Frank C. Henry, John C. Hoyt, D. J. Kauf- man, A. 8. Kenny, James B. Lambie, Thomas. P. Morgan, Arthur Murray, George H. Myers, Daniel W. 0'Don- oghue, Aulick Palmer, D. Porter, Ord Preston, Francis A. Richardson, John H. Small, 3d.; Emmons 8. Smith, Luther F. Speer. Edward J. Stell- wagen and Charles F. Wilson. The company will reorganize at 4 o'clock this afternoon, when it is ex- pected that the present roster of of- ficers will be unanimously re-elected. These include: Edward J. Stellwagen, president; George E. Hamilton, first vice president, attorney and trust of- ficer; George E. Fleming, second vice ‘president and assistant trust officer; Walter S. Harban, third vice pre dent; Edward L. Hillyer, fourth vice president; Edson B. Olds, treasurer; W. Frank D. Herron and Reginald Rutherford, assistant treasurers; Irv- ing Zirpel, secretary, and Willlam 8. | the | Lyons, assistant secretary. Dr. William S. Washburn was only new director added to the board of the Washington Loan and Trust Co pany. The old board in its entirety was re-elected and Included: John Joy Ed chairman; Charles B. Bailey Thomas_Bralley, John H. Clapp, Au- gustus Crane, Floyd E. Davis. L. Whit- ing Estes, Frederick A. Fenning. Albert F. Fox, Benjamin W. Guy, John A. corge A King, Martin A. Knapp, J. Leo John' B. Larner, John C. Letts, Harry G. Meem, Theodore W. Noyes, Andrew Walter S. Penfield, Arthur Pe- ter, Frank P. Reeside, Harvey W. Wiley nd Donald Woodward. This institution will also hold its elec- tion of officers Thursday. - The stockholders’ meeting of the Con- tinental Trust Company will be heid later today, and will be followed by election of officers. There have been rumors of certain proposed activities on the part of this bank, but verification of such reports were not procurable to- oy “Fhe National Savings and Trust Com- pany does mot hold its annual meeting until January 16, while the American Security and Trust Company and the Munsey Trust Company meet the fol- lowing day. Savings Banks. The same board of directors as served last year were elected again by the Security, Savings and Commer- cial Bank, and were: F. G. Addison, jr.; E. C. Baltz, Diller F. Groff, John B Harrell, J. Thilman Hendrick, George H. Judd, Harold H. Levi, Fred AMcKee, Townley A. McKee, Laurence Mills, Capt. Julius L _Peyser, Morris imon, William W. Spalding, S. W. Straus and William Clark Tavlor. At the reorganization meeting that followed immediately the same offi- cers were inStalled to serve another year. They were: Capt. Julius I Peyser, president; Fred McKee and Francis G. Addison, jr., vice presi- dents; Samuel S. Baulsir, cashier; La- trobe Owens and J. Louis Shipley, as- sistant cashiers. Three or four other savings banks of the city hold directors’ elections today. while others do not select their boards until next week. The Exchange Bank meets tomorrow, while the Mount Ver- non Savings Bank will announce its new board on January 17. First Trust Mortgages_ For Sale—7% $3,000.00 to $4,000.00 Units Colin H. Livingstone Phome Main 700 Room 505 American National Bank Building Money In Any Sum Our connections locally and in other cities enable us to fur- nish money in any amount for ‘Washington Real Estate En- terprises. Stone & Fairfax . '.A'e. 5l lll i [ | “0" First Mortgage 1% “INVESTMENTS” can be se- cured now in amounts of $250 Up to $10,000 only absolutely safe form of invesiment yielding such & liberal rato f interest. fhe sime courteous, prompt and efficlent "consideration Siven to all in- Sestors. Certified _ Certificates of Title ac- company each note without cost to in- mClnu D. Sager 923 Fifteenth St. N'W. Main 36—Loan Dept. EQU'I'I‘AB.LE Organized 1870 424 YEAR COMPLETED Assets . . 1 iptions for the 82d Issue of Stock Being Received Shares, $2.50 Per Month 4 Per Cent Interest EQUITABLE BUILDING 915 F St. N.W. JOY EDSON, President %r. ll:g:ml.‘efy b t llI Kolb, | REDISCOUNT RATES CUT. DALLAS, Tex., January 10.—Redi count rates .on all classes of pap handled by the Dallas Federal Re- serve Bank have been reduced from 5% to 5 per cent, according to an- nouncement by B. A. McKinney, new- ly elected governor of the bank. MONEY TO LOAN Before Placing or Renewing Your 1t o 24 Trus ELCH ] See W Isadore Ereund, Algernon S. Gardiner,|R. A. Todd. & (HARRY 8.) Arnold Hirsh, Edward Kohner, Harry | "Here, too, reorganization followed Toan Specialist 8. Lewis, William Neuland, George|immediately, and the old officers re- | 15th and N. Y. Ave. Main 4346 g:illt!.‘ glmklng.h 1-:1_b Rchhn-wlm_rlt.rl LMS« elected. They included T.ngn IE Lowest Rates Quick Replies , H. R. Shreiber, James Trimble,! Cochran, president; R. A. Todd, vice jr; J. B. Trew, Dale S. Venables, preuldent:p’l‘homu! B. Hickman, vice BEPORT OF THE CONDITION FIDELITY SAVINGS COMPANY, INC., “The Morris Plan.” At Washington, in the District of Columbia, at the close of business December 31, 1921. RESOURCES. ™ 1. a Loans and discounts, including redis- counts (except those shown in b and c).$742. -$742,37 © Notes and bills_re- discounted _other 1 with Federal ve Bank (other ink accept- 1d)evenns .. 44,323.88 U. 8. ernment ned o gle Total loans Deduct: securities owned ....... 5,633.00 6. Banking house, furniture and fSEUres ... .ieoceeeennn 608.68 Real estate owned other than king_house .. 1,986.00 in vault and amot rom national banks . . Amount due from state bankers and trust companie in she United States than included jn items 9 or 10). same city or town ai ing bank (other t o) i . Checks on’ banks wide of city or town of reporting bank and other cash items. Other “assets (dne from Indus: trial Finance Corporation). Total LIARILITIES. Capital stoek paid in Undivided ~pro a Reserved for int, est -and taxes crued b Reserved ‘for 17 19. cLess _current ex- penwes, interest and taxes paid.. Amount dua to state banks, bankers and trust companies in the United States and foreign countries (other than included in items 21 or 22).. Demand deposits (other ~than bank deposita). (Deposits vable within 30 days): 38,538.76 limedeposits (pay 0 days, or subject to 30 days' or” more notice) and postal savings: 3L. Certificates of deposit (other than for money borrow 5 83. Morris plan installment § ment certificates . Total .. .$717.889.53 District of Columbi: 3 -M:‘-—nnn. [ B. BYRD. manager of the above- named bank, solemnly swear that the above stafement ix true to the best of my knowl- edge and belief. H. R. BYRD, Manager. Subseribed and day of January, 1922 (Seal,) WILLIAM J. DANTE, Notary Public. Correct—Attest: ENRY P. BLAIR, . STRIDE FO. H. PETI TROW F < 8. RICHARD A. J. R DEVERFAU EDITH W. PICHS H. B. BYRD, Directors. REPORT OF THE CONDITION Of the sworn to before me this,9th | 16- 1922, . assenger 3 Y EQUIPMENT ‘TWO Off Burning 'I‘l‘::aw DIGEST of the Revenue Act of 1921 A carefully prepared analysis of the provi- sions of the Law—with useful tables for com- puting taxes. Free on request. The National City Company Washington—741 15th St. N.W. Telephone Main 3176 REPORT OF THE CONDITION MERCHANTS’ BANK Of Washington, D. C. At Waslington, in the Diatrict of Columbia, at 1921. the close of business December 81} RESOURCES. 1 aloans and dis- counts, including rediscoun cept those Total loaus. ,626.20 2. Overdrafts, unsecured, $2,754.89 2.704.89 4. U. 8. government securities 5 vned 5,600.49 69,740.38 $36,002.26. 198,962.26 7. Real estate owned other than banking Louse. 126,500.00 10. Cash in vault from national banks. 211,178.46 . Amount due from state banks, bunkers and trust companies in the United States (other thau included 0230)5 050 5 Exchanges for ciearing house. Total of items 9, 10, 11, 12 and 13.. .$290,976.10 ks on bauks located out- o of city or town of re- rting bank and othier cash items .. in items 8, 4. . Undivided profit $15.920.17 Amount due to state banks, bankers and trust companies In the United Ktates and for- «eign countries (other than included in items 21 or 22) BIRD&CO. BROKERS Stocks, Bonds 821 15th St. Main 3160—3987 No Lot Too Large No Lot Too Small Direct Private Wire to Ogden D. Budd & Co. (Established 1885) REPORT OF THE CONDITION Of the Standard Savings Bank, ‘counts (except those shown {a b and c) §591,688.40 v @ Notes and Mlla re- New York City than with federal Full Service et ACCOUNTS CAR! MARGIN. wad) T szo0.00 = s 2. Overdrafts, unsecured, $520.58. 4. U. 8. government securit| 2,200.00 5. ORer oids, ik, s, - so0 o0 D e LUK BIPure and itures, §57.280.30, 283,748.52 Departmental Bank Washington, in the District of Columbia, the close of busine 10. Oush in vault and amount d from national banks 12. Exchanges for clearing December 31, 192 Toal ot frems, 0. i 5 Y i dlfnim:nc?s.‘ - ), 11, 12 and 18, .$34.966.28 . Loans and discounts, including 14. Checks on banks located outside rediscounts ... -5223,218.48 clty or town of reporting 4.0, 8. government securities bank and other cash item el . Other Total etc. Bankicg house, $112 fur- niture and fixtures, $6,567.52. 119,355.26 . Cash in vault and amount due LIABILITIES. 17, Capital stock paid in .. 18 Burplus fund . from pational ban 17,701.74 19. Tndivided profits, $1,005.. . Checks on other bank: 2. ount due to late banks, same city or town as reporting bankers and trust companies bavk ... ... 720032 in the United States and for- 14. Cbecks on banl elgn countries (other than in- of city or town of reporting cluded in items 21 or 22) bank and other cash items.. 1.204.08 23. Certified checks outstandi 16. Other assets 04545.08 24. Cashier's checks on own bank —_— outstanding .. .. 1,89452 Total .$570,704.88 TR 2 S ana 34, $1: LIABILITIES, Demaid’deposits ~ (other - than [17. Capital stock paid i ,230.00 bank deposits). (Deposits pay- {18 Surplus fund 26,118.28 able withiin 30 days): i Demand deposits (other than 25. Individual deposits subject to I bank deposits). (Deposits check ... ... 240,028.86 able within 30 days): 28. Certificates of deposit due in 29. Dividends unpaid ... 33.60 Total of demand depos leas than 30 days (other than (o than for m bank deposits Time deposits (payable after 30 days, or subject to 30 days’ or” morg potice) and postal saving, Certificates of deposit (other than for money borrowed) 3. Other time de, . or wubject to 30 days* or Total _of more noticeJ and postal sav- |” 31 and nge: . 8L Certficates of deposit (other | B ofts fox maney Burrowed) o Pl e pank 9 g cluding all obligations repre. Toulzor Miwes sy senting_money wed other its, items 31, than rediscounts). . . Lisbilities otler than above stated . e, ot leral reserve bank (includ- ing all obligations represent- ing money borrowed other than rediscounts) .. . T, CIOS, treasurer of named bank, solemnly swear that the above statement is true to the best of my knowledge and belief. . T. EXNICIOS, Treasurer, Subscribed and sworn to befors me this 9th day_of January, 1922, (Seal.) B Jr., o above named bank, solemnly swear that the above statement is true to the best of my knowledge and belief. JAMES TRIMBLE, Jr., Cashier. Subscribed and aworn to before me this 9th 2. ROBT. W. WINFRER, Notary Publie. Correct—Attest: day of January, 1922. Louis Ottenberg, Joseph Stewart, (8eal’) EORE EDITH SHAPIRO. 37 H. Sheppard, £ Liboey, Notary Public . A Filer, Correct—Attest: 5 . H. Kervin, A. 8. Gardiner, Joo, J. Costinett. H. C. Graham, 3. Franklin Meyer, A. J. Driscoll, 3. Rosier Biggs, Jno. 8. Beach, 3. T. Exniclos, Wistar Balderston, Fred J. White, R. 3. Quinn, . Witten, Direetors. 3. W. Ginder, Directors. REPORT OF CONDITION DISTRICT NATIONAL BANK Washington, in the District of Columbia, at the close of business on December 31, 1921. RESOURCES. . a Loans and discounts, including rediscounts (ex- cept those shown inband €)...coevevnen.n $4,595,016.28 ‘Total loans .......... ceesanaane eeeecsanann $4,595,016.28 Deduct: 4 Notes and bills rediscounted with federal reserve bank (other than bank acceptances sold) 9 88.63 588,288.63 A\/IERICAN 23. Certified checks outstanding. $4,006.727.65 = e oEvioaiownfheak 2. Overdrafts, secured, $395.14; unsecured, $1,274.65. 1,669.82 SECURITY AND Toal of Loms 20, 21 b5 3 ¥883| 4 U, S. government securities owned: d 24 ..$40,041.46 a Deposited to secure circulation (U. S. bonds, par TRUST CO. Demand ‘deposits (other 1l value) - .. $503,000.00 - . bank deposits). (Deposits b All other overnment securities. 1,208,246.00 At Washington, in the District of Columbia, at payable within 30 days): —_— the close of business December 31, 19: 25. Individual deffosits subject to T, Total 1,711,246.00 ) 26. Certificates of deposi S 5. Other bonds, stocl L 0 Toens ana die O less ‘than 50 days (othet ban % Banking house, 3665,345.62; furniture an ta. g . Real estate owned other than banking house fne r'nu.‘e"cfi-:f. paid... 8 Lawful reserve with federal reserv: bank (except those 9. Items with federal reserve bank in proces: ishownitaigpn Teral ot demand depoaits ot available as reserve).... ; <) .......$16810.853.18 25, 10. Cash in vault and amount due from national banks. i.edt 70 11, Amount due from banke, bankers and trust companies in the Total loans.. 1631085018, & crosssas| Time deposita (paradie atier * ""United States (other than included in items 8, 9 or 10). 19413855 2. Overdratts, ecnred. £5,065. 30 days, or sublect to 30 dars 12. Exchanges for clearing house 12075244 AR T B ey 12,337.46 o more notice) and postal 13. Checks on cl:merhb:n);a in ;‘z‘f same city or town as reporting Soisies L U, mect securities jaavings: than ite sERe Fei e ,589.% owned 1275 et | 9L Cettiieens of Seposit twther nmnl P Rtal of ftems 9. 10 11. 12 and 1 g $873,330.64 t 5.785,602.24 | 33- Other time deposi 263,485.95 | 14. Checks on banks located ottside of city or town of reporting Fos s Total of time deposits, “item : bank and cther cash items................... .. 73,897.62 forniture 31, 32, 33 and 34..$362,435.63 ° 15. Redemption fund with U. S. treasurer and due from U. S. 21700148 5 1,577,672.05 | 35 Bills payable, other than with treasurer .. 25150.00 7. Real eatate owned other than {:‘:".‘,} Ry anki(inclad. ———— 10. Cash in venlt and dmouni due oot fog money edother Total =-BEESAIRAR from national banks .. 2,100,519.10 than_rediscount) 200,000.00 11. Amount due from state ban Bills payable (det bankers and _trust comps ment on real estate) 59,500.00 | 17. Capital stock paid in ..... $550,000.00 ?x:; in ‘t)l:e mlm:lddsme. Total .. ©ros.603.07 |18 Surplus fund .. . 400,000.00 {fomer 8 8 0r 10) ..o 79058200 | District of Columbia. City of Washington, aa.;| 19- Undivided profits 12. Exchange for clearing house.. 116,428.61 | ;L NK P. HARMON, Jr.. cashier of the £1,649.7 oot 118 T e L O T e tes outstanding. 3170000 . 10. 11, 12 ot my | 20. Circulating no - i and 13 .....$3.01 o e VD B HARMON, Jr., Cashier. g; fimoun: a:lue to (edelpl reserve 20.7.!?941; - bscril “an v Ao ¢! . Amoun! lue to national nks. . 7 g "h::':’u'flégg s mm“h R A e Stater ad forelen countties (other than i (Seal.) ARRY J. DONOG! the Un! ates and foreign countries - 15. R Do Notary Pubite. cluded in items 21 or 22)..... 16. Other assets— Comect-htiest: 24, Certified checks outstanding. 2 Custoners’ liability under let- Petar A. Drm Gustay Buchholz, 25. Cashier’s checks on own bank outstanding. T el 11100037 | Michesl 3. Keane Hary R. Carrell, Total of items 21, 22 23, 2 and 25 ... oo $TISIIL. 1109.5 Wi o 2% i) Demand deposits (other than bank deposits) subject to re- Aottt 1S, MaDeu Al S e ‘serve (depusits payable within 30 days): Total ... 412,017.00 26. Individual deposits subject to check.... 3,253,724.38 REPORT OF THE CONDITION 28] State, county or other municipal deposis s ST LIARILITIES. of the of assets of this bank. 75,500, 17. Capital stock paid in $3.400,000.00 30. Dividends unpaid .. 11,222.50 T Semnimfong oo ! 25| EXCHANGE BANK |3 B demand deposits ST M 19. l‘|:n‘l|rlded prot- $020,082.05 Of Washington Tot-l’ ot‘ de!mmd depoflltn“ (otherzsthnn1bu5|: deposn:l)‘ ot et Y o subject 0 reserve, ems 5 s 29, ] hington., in the District and 31 ...... ....$3,341,490.96 Taxes mccrued. 147,280.94 At A Dasioess Decombnr 21 Joos” *'[ Time deposits subject to reserve (payable after 30 days, or b Reserved for 3 — subject to 30 days’ or more notice, and postal savings. clerks’ pension RESOURCES. 32. Certificates of deposi: (other than for money borrowed)..... 131,184.29 ’r‘u.:‘ ey 1. .Il;,:ln:dtlnn: am::::: 33. State, counfxzh (:r %t“hel: municipal deposits secured by pledge of 150,000 dividend .. counts (except those assets of s bank. ,000.1 show. 53 34, Other time deposits. . 1,374,152.76 A I 35, Postal savings deposits. b 4012.60 ¢ Less current e: Total loans $179,700.11 Total of time _deposits to reserve, items - Denses, interest 2, Overdratts, = secared. $218.21. 32, 33, 34 And 36........ouiiernianne ..$1,659,349.65 . and taxes paid $353,486.00 OARSCHERT, SeRLAETS. 363.99 | 3¢, ‘United States deposits (other than postal savings), including . 21, Amount due to nationsl banks o000 | & Downed Sororiiee i 30,655.99 ‘war loan deposit account and deposits of United States dis- 22, Amount due to state bauk “7| 5. other jes, bursing officers . 20,000.00 bankers and trust compa- ete. $51,28021| 7. U. S. government securities borrowed. . . 55,000.00 nies In the United States 6. Bankin 3 39. Bills payable, other than with federal reserve bank (including P 8nd forelgn countries (other ture and fixtures, 35, £62,620.00 all obligations representing money borrowed other than than ‘included 1o items 21 7. Real estate owned ofher than rediscounts) - i 200,000.00 or 22) . ..., 3881373 banking house . .. 5,500.00 61500098 23. Certified checks outstanding. . 8,711.91 | 10. Cash in yault and amount due 4 .o »000. B eatamting ooov o 138.297.80 | 12. EXcoabees Tor clobring Bouss . SABOAL ed items. 6,365.66 ] Tl S R e Pt C Totalll o s tevemeesesaene...$8,258,678.03 D ey JusE bany end by District of Columbis. city of Washington. ss.: bank deposits). _(Deposits 16. Other assets (accrued interest 1, H L. OFFUTT, Jr., cashier of the above-fiamed bank, do solemnly payable within 80 days): on bonds) .... swear that the above statement is true to the best of my knowledge and 25. Individual deposits subject to & belief. H. L. OFFUTT, Jr., Cashier. check . ...os.... $10,162,686.35 To! Subscribed and eworn to before me this Sth day of January, 1922. . 26. Certificates of deposit due in LIABILITH (Seal.) HELENA D. REED, Notary Public. R e e e o Correct—Attest: i J 29, Dividends unpaid ... 1,021.00 | 18. Surplus fund .. = X ROBT. N. HARPER, MARSHALL L. KING, 30, Other d deposits— 19, Undivided profita CHAS. W. DARR, C. C. ROGERS, deposits §21,678.87 | & Reserved for inter- C. J. GOCKELER, H T. OFFUTT Jr. Total of de- est_and taxes ac- e eeotors mand depos- g its (other than bank Seeuma */25, L oves, Thtcreat - ems /23, 3 : . - e e me Gaotablished 18 29’ and’ 30..$11.071,801.16 - - Time deposits (payable after 23, Certified checks outatanding.. | 30 days, or sublect to 30 24, Cashier's checks on own bank dazy’ oF more ‘notice) and tand s ' savings: 31, Certitientes of ‘deposit (other 3 ‘than for money borrowed) 58,482.51 33, Other time 4eDOSIts ........ 10,376,211.38 = "'Totsl of time uo dep osits, items 31, 82, ] Tattod Siates depostts other s er 0. D en postal savigke) Inciod: 4 ing war lon deposit ac - £ e S, & TN 4 < 26.57 g = Saapemme u::mu o/ .71 i (V] Diatrict of éflmm,ox-t asniagion, X : SRR e e - ; al r poe B W In Co nt S aki Ioowiedse and belter. rwenie: enominattond CHARLES E. HOWE, Treasurer. o Subscibed 1nd sworn o befors me this b . anuary, 1922 et Ty Fubite. (Beal. BET B. SHILUINGTON, : Correct—Attests s 6 g 3 Beity Win. 3. Flather. 3r., 12 Streel Ql'bam 888 Corcoran Claremce E. Wilson, B. F. Saul, Howard Moeas, . : ; 3. C. Boyd. Clarence F. Norment, — George W. Brown, . B, Reeside.