Evening Star Newspaper, April 15, 1923, Page 35

FINANCIAL. Movement to Further Better Relations Between Bankers President Evans Inaugurates Wednesday One O’Clock Luncheons at City Club. Lanston Should Have Local Director. BY L. A. FLEMING. There are unm!stakable indications that, in time, there will be a most useful and beneficial degree of har- mony and community of action exist- ing between bankers of Washington. Other lines of business have long maintained close relationship between parties engaged in it practicall® every commercial Interest working for the benefit of members collective- 1y and individually, disseminating in- formation of a valuable characterand preparing for meeting exigenc Gankers als) have their association, but they have seldom been alle to agree ou any united policy that af- fects business. The £ood fellowship and better un- derstanding that comes from tree dis- cussion around the luncheon has long been understood, and many are the meetings of divers interests at_weekly nponday meetings. Joshua” Evans ident of the District nke con- ceived the weekly heon scheme for the promotion of a better under- standing and acquaintance between bankers. The first gathering was at the City Club last Wednesday, and the tendance next Wednesday at 1 o'clock will probably shoy double that of tire opener. Future gatherings will begin to in- ,dicate the measure of harmony and co-operation possible Those who were in attendance at the first meeting are hopeful of mu- tual profit and enjoyment in the weekly meetings. It is suggested that at the mext meeting the subject of uniform deco- ration of the banks of Washinston for the Shriners’ convention, the week be- fore and the week after, be taken up for discussion. Nothing will be more practical than something that will cut down the burden of expense, and the opportu- nity exists for a saving here. “A dollar saved is just as good a a dollar earned.” Other opportunities for the good of the cause will undoubtedly suggest themselves from time to time. A Matter of Congratulation. The elimination, as a going concern, of the Banking Trust & Mortgage Com- pany, through the purcha: of certain assets, lease and fixtures and the guar- antee of the deposits, is a welcome solu- tion of the prob'em The purchasing bank, National, i of younger ' institutions, of which A. Gardner is president, inc'uding in its directory some of the lcading business men of the ean the ndard the aggressive The Banking, Trust & Mortgage Com- pany, organized by professional promot- ers about two vears ago, housed in one of the best locations at 1409 H street northwest, has never been a pronounced success. Its president, Percy S. Foster, worked hard night and day to over- come an almost impossible handicap and found his greatest relief in the as- surance that the depositors would be paid in full. Moreover, the stockholders will receive a liberal percentage of their subserip- tions to stock, bids now being made of 10 a share. The subscribers paid in $25 a share, giving to the promoters $500 a share. This one-time _practice- of profes- sionally promoting banks has passed on its way. In the latest literature from the office of the controller of the cur- rency. regarding the organization of banks is found a positive statement that the controller of the currency will not grant a charter to any bank where promotion fees have been paid to any one for selling stock. This actlon will put a stop to a prac- tice that has not been uncommon in this city, of making selection of a business man of good reputation, im- pressing on him the advantages of be- ing a bank president and assisting him in selling stock of a bank for no other purpose than of grabbing off a pro- motion fee. Had this Crissinger ruling been in force in the last few vears, at least three promotion banks would not have come into existence. Two of these have passed on, the first being Provident Savings. The Standard National Bank will use its purchase as a branch of the home office, under permission of the controiler, and with large up-town acquaintance and connection should be able to make @ AURcens € the moaw movemant HARRIS v ‘W. H. BALDERSTON, Vice president Standard National Bank. The formal opening of the H street office of the Standard National, 1409 H street, will be observed tomorrow. The officials hope to make a great success of the venture. A Similar Situation. A similar situation developed a few years ago when the Merchants’ Bank Was organized and took over the Wash- ington Southern Bank, concerning which othing has ever been said. The latter institution may or may not have been Jiquidated. Its deposits were guaran- teed and paid oft by the Merchants® Bank, and on this slim foundation, with business ability and acumen, the pres- board { yent prosperous million-dollar trust com- pany, of which P. A. Drury is presi- dent, rose to success. Lanston Monotype Company. Lanston Monotype shares are quoted | on the local stock exchange at about $17 a share. The corporation has not a dollar of bonds; its bank credit is high, and it has maintained a regular 6 per cent dividend rate for some years con- sistently. ’ J. Maury Dove, president of the cor- poration, has been for some time in the | habit of spending two days a week In Washington, but of late has been con- fined to his home by illness. There is not the slightest question that there is more . stock bought, sold and held in Washington than in any other city. It is listed on the local stock exchange and Is traded here ex- clusively Some time ago the stock was listed in Philadelphia, but whatever transactions were made there the next few days fol- lowing listing were on orders by local { people—testing the importance of the i Philadelphia market—and they found it was not. It s not even quoted there now. Last year 5,080 shares were bought and sold here. But the company has seen it to remove the transfer books to { Philadelphia, thus ignoring the market land the army of shareholders here. At 77 a Lanston pays a return {of 9 per cent return, plus a fraction. When Mr. Dove was well and attend- {ing to business it was possible to obtain j some general information as to the con- | dition of business and the earnings of the company. | What is really needed, however, is a representative of local interests on the I board of directors, who can and will be ! the mouthpiece of the board of direc- | tors of the Lanston company In report- { ing progress to local shareholders. Such an appointee would at all suit- { able times be in a position to make pub- lic earnings and orders on the books, should give some information regard- ing the success of the new adding machine business and, if conditions and facts warranted it, would inspire such confidence that the stock would 1 have a market value more in keeping with its true worth. E. J. McQuade represents the army of Mergenthaler stockholders In an excellent manner and has so demon- strated his usefulness as a director \hat Eugene E. Thompson, president of the Washington Stock Exchange, has suggested to J. Maury Dove, pres- ident of the Lanston company, the need of the election of a local share- holder to the Lanston board. Mr. Dove is recognized as an able official and will, in the event of spon- soring such a movement In behalf of local interests, win the approval of ithat very large stock-owning con- | tingent located in this clty. | The transfer office shoul ed to Washington. With the falth which official 1 formation would inspire, if satisfac- tory. there is no good reason why Lanston should not sell close to par or better and cease to move irregu- larly. although within a relatively narrow range. Fts Fourth Anniversary. Today marks the fourth anniversary of the Citizens' Savings Bank, New York avenue near 13th street north- west It is not often that a savings bank can work its way across the million- dollar mark in deposits in this short space of time—very largely savings deposits at that, it being the policy of the management to encourage thrift; indeed, a new campaign for savings is about to be started under the slogan, “Double Your Savings— It Can Be Done! Fernand Petit, cashier of the insti- tution, calls attention to the fact that the bank has cared also for large commercial banking interests and has made a practice of sending out monthly statements to depositors since the start of the Citizens' Sav- ings institution. b Howard Moran, chairman of the District Bankers’ Association conven- ‘tioll of 1923. has honored Mr. Petit's ! ability by naming him to the tmpor- | tant Tost of chairman of the hotels and_transportation committee. Mr. Petit’s friends expect that will put over his assignment credit to himself. be return- he with J. ROZIER BIGGS, i president Standard National | Bank. i | Viee Branch Banking. The supreme court of Missouri, all judges concurring, decided that branches or branch offices of national banks were illegal, and said: “Branch banks not having been pe mitted by the state law either by express terms or necessary implica- tion, the well recognized canon of construction, will authorize the ex- clusion of this power from those granted.” Further on “the attempt therefor to establish a branch bank is an act {in_excess of its corporate powers.” The court ordered the branch of the First National Bank o closed. The case has been appealed to the supreme court of the United States. The Missouri decision, however, seems fair enough to all concerned. If a state bank has no right to open branches then a natlonally chartered institution should not be given it Anything that is equal, that extend no favors to one set of banks as against_another, is not unfair. But this rule’will hardly work in other states where branch banking has been in vogue for many years. In the District of Columbia there were branch banks here a score of years ago. Moreover the federal reserve board and Congress as well as the Presi- dent, act as a unit in giving the national banking system a square deal in competition with state insti- tutions. It is possible. that some kind of |branch banking may be lacking in |°‘lufly. but there would be no fair- St. Louis ness in permitting banks chartered by state or Congress to conduct Wranches and debar national banks from the same privilege. Refusal of jurlsdiction on the ap- peal of the District Utility Commis- sion on the Potomac Electric Power Company, valuation by the Supreme Court, give the corporation the right, in the matter in that the Court of Appeals reversed the lower court's ruling. It does not finally settle the matter of the rates that may be charged for current, but it either forces a new valuation or & compromise between the company and the gommissioners THE sentative stocks dealt in on the Friday, April 13. activity of the market. SUNDAY STAR, WASHINGTON, RANGE OF MARKET AVERAGES The following chart shows graphically the action of forty repre- ew York Stock Exchange. covered is the past month, up to and including the close of the market The lower section of the chart indicates the relative The period D. C, APRIL 15, The Year 1923 to Date on the Washington Stock Exchange. | Up to and inecluding S, ‘W. B. Hibbs & Co., Hibbs Bulldi Sales. $2,000—C. and P. Tel. of Va. bs 4,000—Ana. and Pot. River R. 15,000—C. and P. Telephone ist &s 65,000—Capital Traction 1st 5s. 18,000—Georgetown Gas Lt. 1st 5s. 1,000—Metropolitan |R. R. 1st 5s. 35.000—Pot. Elec. Power 18t 5 68,000—Pot. Elec. Power cons. 5s. 12,500—Pot. Elec. Power deb. 6s. 48,000—Pot. Elec. Power gen. 6s... 2,000—Waeh., Balt. and Annap. 1st 52,500—Wash. Gas Light gen. 5s 109,500—Wash. Ry. and Elec. cons. 4s 22,000—Wash. Ry. Elec. gen. 6s 26,800—Wash. . TYs. 16,300—P. E. P. general mortgag 10,600—Riggs Realty (long) 5s.. 4,600—Wash. Market Cold Stge. Gs. 1.000—Wardman Fark Hotel 6s Shares. STOCKS. 1.242—Capital Traction 2:283—Washington _Gas r~——SCALE FOR INDUSTRIALS —— Y —— VY YOI IVIS— MILLION SHARES High .103.43, October 14 . 78.59, January 10 1922, . 93.90, September 11 Low 73.43, January 9 Twenty Industrial Common Stocks Used Are: Gentral Leather Corn Prod Gen Electric Am Can Am Car & I'dy Am Locomotive ‘Aw Swelting Aw Sugar Am Tel & Tel Anacouds Baldwin Loco Gendrich Twenty Rallroad Common Stocks Used Are: K C Southern Atehison € M & St Paul Itimore Ohio el & Hudson Erie Iilinols Central Leligh i u Ches & Ohlo % March March March Marcn March March March Mareh March . Wedneaday 2, Ti ursday . Friday 103.98 10328 102.38 108 03 day’ Tuesday ] . Wednesday Thursday U. S. BONDS AT A GLANCE Fractions following a hyphen are thirty-seconds. stands for ninety-seven and thirty-one-thirty-second ey 6-15-47 6-15-47 11-15-42 6-15-47 11-15-42 9-15-28 10-15-38 5-20-23 1952 Liberty 3Ys.. Liberty 1st 4s. Liberty 2d 4s. . Liberty Ist 4i4s.. Liberty 2d 434s Liberty 3d 44s Liberty 4th 4i4s. Victory 434s.. United ‘States 4%s *® Closing bid. The latter would be a good way oueh of a bad situation. It would be next to impossible to | distribute the entire impounded fund to the consumers who have helped | to accumulate it. Thousands of con- sumers huve left town: many without addresses; not a few have passed on Into the beyond, so that the best a distribution” would be but partial— merely uan endeavor to pay out. The courts recognize that corpora- tions have certain rights within the | law, and they ure well defined, from ch must come their protection. They cannot be confiscated, and they | are entitled to earn a certain per- | centage on valuation. It would seem to that any valua- tion that may be made now would | have to be on the basis as and of | today. That the position of rallway com- mon has been benefitted by the rul- ing goes without saying in the ad- vance, which met sharp profit taking; in reports of an early dividend and in cumulative buying at higher prices. | —_— e DEMAND FOR STEEL NOW LESS ACTIVE By the Associated Press s NEW YORK, April 14.—The market for steel is very firm, with mills sold well ahead, and the situation has been further strengthened by an ad- | vance in wages by leading produc- | ers. Demand, however, has slowed | up somewhat owing to an uncertain ty over delivery and nervousness | over prevailing high prices. Pig iron | is steady but quieter, as Increased | production has relieved an anxiety relative to future deliveries. Copper has been unsettled, without | improvement in either export or do- | mestic_ demand. Forelgn markets have been easier, second-hands or | customs smelters have shaded prices, and few producers are now asking more than 173 for electrolytic de- livered. It is estimated that deliv- | eries into domestic consumption dur- | ing March were about 145,000,000 pounds, with exports about 75,000,000, making total deliveries of 210,000,000 to 220,000,000, Production, however, | is understood to be increasing, partly owing to larger imports, while higher wages have attracted more labor. The conspicuous feature in tin was | the announcement that the parties to | the Bandoeng agreement have decide on a gradual liquidadtion of thel holdings at a rate not to exceed : per cent per month, beginning April 1. They approximate 17,500 tons. The | market was quiet, with little net| change. i Lead easier, owing to_liberal offer- | ings of Australian and Spanish metal and a well stocked local market. Zinc was steady. Galvanizers have not been conspicuous buyers. but otherwise consuming demand has ruled satisfactory and may Increase if steadiness continues. 3 Antimony easier, owing to a fair amount afloat from China and ku- rope. i | I “BeforeYou Invest- INVESTIGATE" Important to Investors 500 investment units in the DISTRICT GUARANTY CORPORATION —will be put on sale Monday, April 16th —at the price of $280 —each. These units have an established dividend record of $7 Per Quarter —or $28 per year, which is 10% net upon the investment. Those who know will tell you that SAFETY —is the outstanding virtue of these units. N Y Central Movement of Averages: fiigh. 103.02 101.69 160.80 101.78 101.00 101.00 101.86 100.98 100.02 10016 98.%0 SIYVYHS NOITUN Industr! .105.38, March 96.96, January 16 1923. . 90.63, March 3 84.53, January 17 Low. High Low. Rep Iron & Steel Studebaker Texas Company U'S Rubber L Ttali Copper ingliouse estern Union Northern Pacitic Reading ew Haven Soifthern Pacific ortolk & Western Southern Rwy Pennsyivania Unlon Pacitic alley o Mareh 31, April 2, April April April April April April April % April 11, Wednesday April 12, Thursday April 13, Friday Saturday . d: 101 101 10140 For example: 97-31 1923 — Tow Closs ieh Yesterday. Yield 369—N. and W. Steamboat. ... 2.825—Wash. Ry. and Elec. com. 3.215—Wash. Ry. and Elec. pfd. 14—Commercial Nat. Bank 46—District Nat. Bank .. 13—Far. and Mech. Nat. Bank Liberty Nat. Bank. 2 Nat. Metropolitan Rank National Bank 10—Federal-American .. 190—Amer. Sec. and Trust. 144—Continental Trust . ational Savings and Trust. Trust. 169—Merchants' Bank and Trus 10—East Wash. Sav. Bank. —Wash. Mechanics . & Firemen's Fire Insurance .. 36—Real Estate Title Insurance 341—Mergenthaler Linotype 499—Lanston Monotype .... 3—Security Storage Co...... 294—Washington Market ..... 64,013 AUTO TIRES TURNED OUT IN DAY/ Goodyear Company Beat 1920 Record With About Half as Many Employes. By the Associated Press. AKRON, Ohio, April 14.—The Good- year Tire and Rubber Company an- nounces today that the output of its 8| Akron, California and Canadian fac- tories totaled 64.013 on Friday. Akron plant turned out 48,592 Los Angeles, 8,837, and Toronto The previous high mark was made on April 14, 1920, when the Akron plant output was 35780 tires. Com- menting on_the production increase compnay officials pointed out that it took 31,000 men to establish the 1920 record, while only 14.950 men were employed at the Akron factory yes- terday. 101.90 93.90 98.70 99.20 99.10 - 9918 99.20 100.32 100.66 100-29 97-22 9-19 96-22 90-24 97-25 96-27 100 98-1 101-2 *97-24 *97-21 97-28 97-23 98-10 07.28 100 9-1 344 4167 418 439 “When Investing” Conslder First Safety. the rate of return your earnings will_vield. ¢+ You will find First Mortgage Notes always foremost In . _recommended safety. Bend for full Information concerning our 1% First Mortgage Investments in Amounts of $250 Up to $5,000 Guaaranteed Title furnished to all investors, with collection femitted the day due. / Chas. D. Sager 924 14th Loan Dept. M. 36. Second, MORTGAGES The Safest Security on Earth ery mortgage is less than 50% of the market value of the property. 1. Absolute safety. 2. Reliable security 3. Liberal income. 4. Insurance against loss. 5. Protection against de- preciation. Prompt payment of i terest. Repayment of principal in full at muturi'y. Choice First Mortgages $100 $250 $500 Call or write for information William S. Phillips Snfe Investments 15th & K Sts. Main 4600 6. 7. Distributor An old established, natio nally known company manu- facturing heating equipment is secking an individual or company through whom to di dealer and consumer trade in territory. ribute its products to the Washington and surrounding The product is one of high quality, which can be sold to meet i petit margin of profit for the distri legitimate competition, allowing a substantial butor, and offering a splendid opportunity to develop a permanent and profitable busi- ness either by itself or as a To qualify requires suffi operations, good character an information should be given i department. cient capital to finance own d merchandising ability. Full n making inquiry. Address Box 24-K, Star Office NO LOSS TO ANY INVESTOR IN 50 YEARS How to Accumulate $48,000 in 20 Years Y investing $100 a month for 20 years in our 6%9% First Mortgage \ Bonds you can accumulate $48,028.87. Yet you will have paid in less than half that amount; bond interest, compounded, accounts for the balancg. Principal Invested. Interest Earned Total Accumulation.. An investment of any amount from $10 24.028.87 ..$48,028.87 month upward will result in a proportionate ol Call, write or phone Main 6464 for a free copy of our new illustrated booklet, “How to Build an Independent Income.” ke F.H.SMITH CO. - Counded 1873, FIRST MORTGAGE INVESTMENTS ' 14141416 EYE STREET, 1923—PART 1. aturday, April 14, 1 Open. 94 87 981 967 90 8 97 96 100 99% 7% 95% High. 94 87 u§1g o8 Government Issues Open Heavy But Gain Strength. NEW YORK, April 14. prices were small in today’s brief ses- 1%ion of the bond market, which was highly irregular. Active United States | |government issues, after opening jheavy, developed some strength, and Changes in s B closed close to yesterday's quotatfons. |Forelgn bonds ‘were firm, with most |of the active issues showing mod- erate improvement. There was some activity in the rail- road group, but price changes were unimportant for the most part. Mis- souri Pacific 6s were up a point and St. { Paul and Kansas City Short Line 414s |ndvnnced 13%. New York Central Con- solidated 4s were off 1% points. In- dustrial bonds were generally firm in | scant trading. ognotal sales (par value) were $5.962, REPORT Ul'o;l'l!mcco DITI0: | POTOMAC SAVINGS BANK { At Washington, in the District of Columbia, the close ‘of business April 8, 1925, RESOURCES. s. ding a ans and Ptances o other banks. and forelgn bills of exchange or drafts. sold with indorsement of this Lank (ex cept those shown inba : Total loans . Overdrafts, unsecured ... | 3. Other bonds, stocks, securitie 6. Barking house, § foruiture and fxtures. 265 91 nd ‘amount due rom state banks, bankers und trust companie in the United States (other thau included in jtem 10) Total of items 10 S . 2778 ascete: Internal re LIABILITIE 17. Capital stock paid in. 18. Surplus fund 18, Undivided profits. ¢ Less current ex- penises, interest and taxes paid. $i7,988 23. Certified checks outstanding.. Cashier's checks outstandin Total of items Demand ~deposits * (other bank deposits). (Deposits pagable within 30 dass): . Individual deposits subject to chec - - 1,090,635.47 Total of demand depasits (other than bunk deposits). item 5 -$1.090,633 47 Time ‘devosits (pasable after 30 days, or subect to 30 * “or more notice) and 1 savings: tes of deposit (ot for money borrowed . Other tima deposits .. Total of time deposits 31 and 35 ... S1. .94 38. Bills payable (inciuding all ob. ligations represeating money borrowed other th counts) = Total A VLES, vice president and cashier ! of the above-named ‘bank, solemnly swear that the above statement is true to the best of my | knowledge aud belief. B. A. BOWLES, Vice President and Cashier, Subscribed and sworn to before me this 13th day of April, 1023. 5 Seal.) C. IRVING WOOD, Notary Publie. Correct—Attest: M. ) ker Wearver, 2. Freeman, liam Stohlman, James L. Owens, Bogley, Bamuel Artz, . H. Haney, i Jrganized in 1514 5 S OFFICERS: GEORGE W. WHITE... 0. H. P. JOHNSON o E B 0GILBY. C. F. CHAS. E. BRIGHT ALBERT 'H. BEDFORD . LOUIS ECKLOEF. J. 'GALES MOORE, DIRECTOR 4ATATR Tadunier THRYDERICK DeC. FAUST WM. F. GUDE CHARLES JACOBSEN SrBoLis RATFEMANN B3 Fros. RELLEY. r. A. LISNER TOWNLEY A. McKEE C. F. R. OGILBY w. GEOEGE WIMSATT W. WHITE FINANCIAL. BIG LOCKOUT AVERTED. | LONDON, April 14.—The trouble in | the bullding trades which has prevail- | ed for several days was temporarily | rettled today after much negotiating The employers agreed to withdraw their notice that they would lock out | nearly 500,000 workers if they did not | accept a new schedule of wages and hours, and the men agreed to refer the question of wages to arbitration. | al LOANS If you have money to invest, we can safely place it on gilt-edge first D. C. | Mortgages. Our record of 30 years insures your pro- tection. Courtecous treat- ment. Percy H. Russell Co. S.W. Cor. 15th & “K” Sts., LOANS tate_and household goods or chat. 7 per cent interest. No broker- a -‘ ged. f:l:l II‘I lndk:fl us .,Ii i e fome bt =i | otz | Money to Loan | Secured by first deed of trust on re | Prevailing interest and coi 1l @ 'Joseph I. Weller | | | Tyom $100 to $300 on D. C. real Jp| | Commercial Loan & Finance Corporation Room 211, 921 15th Bt. N.W. Bystem Copyrighted & Patent Pending. bldy WH/Y WE LOAN ON WASHINGTON HOMES 'HE character of a city is a reflection of its home ownership. The “home- owner” is a real, integral part of the community. His home town is his home town because he owns a part of it and the prosperity of the group is coincident with his own progress. THE BASIS FOR SECURITY such an important element in the life of a great and growing city, modern homes located in the path of the city’s development constitute the prop- er basis for the highest type of most conservative FIRST MORTGAGES Our loans are made on a most conser- vative basis. In amounts of $250.00 and up. B. F. SAUL CO. 1412 Eye St. N.W. Quarter of a Century Without a Loss. Main 2100 CONDENSED STATEMENT OF CONDITION OF THE International Exchange Bank 5th and H Sts. N.W. AT THE CLOSE OF BUSINESS APRIL 3RD, 1923 RESOURCES LIABILITIES Loans and Discounts Capital Stock £102,200.00 Ll s Surplus and Accounts, Undivided Profits.. Due from bank: Deposits Bills Payable cash on hand. - Furniture and Fixtures Miscellaneous Liabilities Miscellaneous Assets. . $291,989.08 71,033.93 Receivable, 22,173.82 ,152.98 NONE 5,230.00 and 176590.73 12,942.19 532.65 $558.318.60 6,791.80 . $558.318.60 Total .... We are growing and growing steadily Compare these figures and convince yourself AUGUST 1, 1921 4 .65 DEC. 31, 1921 $153,384.98 JUNE 30, 1922 $275.453.29 DEC. 29, 1922 $384,987.93 April 3, 1923 $427,152.98 Under Supervision of United States Treasury. Our Foreign Exchange Department buys and sells drafts and moneys on foreign countries and effects cable transfers to all parts of the world. OFFICERS: JOSEPH SCHIAVONE, President DR. MILTON H. PROSPERI, Vice President F. L. NEUBECK, Vice President and Attorney A. C. MACHLER, Acting Cashier J. A. DORRITEE, Assistant Cashier DIRECTORS: James E. Alexander L. E. Joseph Oronoft T. L. Neubeck John B. Facchina H. L. Offutt, Jr. R. Gordon Finney Dr. Milton H. Prosperi L. V. Freudberg Joseph Puglisi Frank T. Fuller Joseph Schiavone T. A. Gulli Alfonso Tana J. C, Harding Mason E. Taylor F. B. McGivern John Vaccaro A. C. Machler John Zanier J. Mills O G Open Until 5:30 P.M. Tomorrow A Friend That Wil Stand By You QMONEY in bank is a source of help in adversity—a means of advancement when opportunity comes—a friend you can depend upon absolutely. whatever befalls. q YOU owe it to yourself to have the protection of a bank account. A dollar or more will start one in the Savings Department of Washington's OLDEST National Bank. 3% Compound Interest Paid { Bring in your current salary check and utilize part of its proceeds to begin a savings fund—you’ll find The Metropolitan a strong and faithful financial ally. National Metropolitan Bank Capital, Surplus and Undivided Profits, Over $1,700,000.00 St. Opposite U. S