The Detroit times., 1910-12-31

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Another evidence Of the proapee1iy
Of Detroit banking institutions is+eur-y
nished by the action OF the directors
Of the Dime Savings bank IN deciAr-
ing an extra dividend OF one per cent
in addition TO the regular two per
cent quarterly dividend. This brinHs
the total disbursement for the yonr
up 10 nine per cent. The dividend Is
not established AT the higher rate but
by the extra dividend. the ssockhold-
ers are given share In the extra0rdi-
nary prosperity OF the bank during the
past year. Besides declaring the -divi-
den, the directors put $4,000 more
into the surplus fund, making the Sec
ond addition of a similar amount dur
ing the year. The surplus now amounts
to s35O,000. With the extra dividend
the disbursement for this quarter will
be $4,000 on the capitalization OF
100000.
The Chicago, Terre Hauts 4 South
eastern railway, one OF the John X.
Walsh roads, that went into receiver
ship when Walsh failed. has filed two
mortgages, one for $20.U00.00O and one
~
carrying out OF the financial plans OF
the Chicago bankers who took the
road over The properties will be SUR
rendered by Receiver Myron CarpeI.
ter OH Jan. /. and Mr.. Carpenter VIII
then be formally elected president.
The road is said 10 be payinS we'll at
present.
The Detroit Trust Co. on Friday,
fled with City Clerk Nichols. chat
tel mortgage for $4,000. drawn by
the Detroit Chemical Co., and with IL
an assignment Of the mortgage TO the
Corn Exchange National bank OF New
York. Faith were executed Nov. 4.
The Security Trust Co.. also fled
large mortgage, for $4,000. given to
II as trustee bv the Webb Packing
Co. TO secure an issue OF per cent
serial bonds To be issued for the pur-
pose OF acquiring the Webb PACKING
house.
! The Peninsular Savings bank pays
ON Saturday the regular quarterly
dividend OF two per cent TO It's stock-
holders and in addition pays the tax
a. ON the stock The directors have
also added $4,000 to the surplus
from the profits of the year. Next
week the bids on the big new build
ing 10 be erected on Fort-st., Will De
opened, and II is expected that with
in n year the bank will be in Its new
quarters.
&c. Ferguson. general agent or the
Union Pacific lines, In Detroit. has Is
sued the following announcement:
The Oregon Washington Railroad
Nayigation Co. has taken over the
lines OF the Oregon Railroad & Navi-
CATION Co, Oregon g. Washington
Railroad Co., the North Coast Railroad
Co.. Idaho Northern Railroad co. IL
waco Railroad Co
The regular monthly meeting OF
the Real Estate board will be heid
in the banquet room or the fotei
Cadillac. Thursday evening, Jan. ..
Al this meeting the officers for the
ensuing wear will be elected.
John T. Falahee of New York city.
n big operator in New York real
estate. IL spending the holidays with
his cousin, George T. Bader, a prom
inent local real estate man.
The total hank clearings Ter De-
troIt for the year will be slightly
above $925.00O, 900, new record In
the history Of the city.
Musicians To Meet in Ann Arbor.
l BOSTON, Dec. 31.-The annual ses-
sion of Music Teachers National as
ISOLATION closed yesterday with sew
eral addresses by publishers and
others. III. w. Gray, Of New York.
gave an amusing talk on the troubles
of publishers. He said that publishers
are becoming poor. while composers
and musicians are becoming rich. He
said that good compositions never sold
well. whereas compositions regarded
as very poor and ignored by most pub
fishers were money getters. The as
ISOLATION accepted the invitation OF
Prof. Albert A. Stanley, of Ann Arbor,
Mich, to hold the session in 1911 at
that place.