The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-12-26
DIVIDENDS PAID
BY LOCAL BANKS
TOTAL S296,277

n
Continued From First Pago.)
new, reserve net. according to Prcsi-
dent John t. Wilson. who said that tho
matter was already under considcra-
ton. and that tho bank was in full
sympathy with the new currency law.
The Broad Street Bank, which has q
capital of 100000 is conducted on 4
per cent basins. paying semiannual
dividends In February and August. 1t
does not mako tho first OF tho year n
dividend period. The directors have
not yet acted in regard to the Federal
reserve act state banks are not re-
| qulrod TO come In under that act but
tho belief was expressed that as soon
as tho terms are fully understood.
many OF tho largor State banks would
apply for registry.
| In sympathy with New Law
| Tho Central National, organized
about two years ago. Will pay its third
! scmiunnual dividend of / I-2 per cont
The bank has II capital of S35O,oo0 and
| Il surplus Of 100000.
President Charles IIutzler stated that
while no formal action had been taken
tho bank WAS In full sympathy with
tho now law. and would comply with
all of its requirements.
President Oscar T. Parrish. OF tho
Church lIill Bank, claims the banner
mention In this dividend statement
| His bank is scarcely moro than a year
first semi annual dividend or per
cent on the capital of $4,000, making
| Il payment to stockholders OF $4,000
Mr.. Parrish stated that no action
| would DO taken In regard TO registra-
! ton as a Federal reserve bank until
| the annual meeting Of the stoclShold-
ers on the second Tuesday In Janu-
ary. Personally nc had no doubt that
! the bank would come in az n Federal
reserve bank.
Tho Fidelity Loan and Savings Com
pany. u new institution. with capital
OF 10000 attempted no dividend. but
placed It's earnings TO the credit Of
! the surpius for this year.
! First National Heads List.
As usual, the First National leads
the list OF dividends. paving per cent
! semi-nnnually on Its capital OF s2,-
100000, It's total payment TO share
holders being $4,000. or more than
third of tho total Of all bank
| dividends. Its dividend is larger than
that OF any other four banks in tho
city. Vice President John NJ. Miller
jr. said yesterday that the bank ON
! Gals had only been able to get II cor
rectcd copy Of the final currency bill
on Wednesday. No action had been
taken he said. in regard TO registra-
ton as a Federal reserve bank. There
was no doubt of the bank coming In,
! could be complied with.
! Dirccto OF the Main Street and
Manchester National Banks have not
acted In regard to a dividend at this
/ period. IL was stated yesterday by OIL
ciaiA Tho Main Street Bank has a
capital OF 100000. and the NIanchcs.
ter National OF $4,000
President a. l.. Adomson said that
the Mechanics and Merchants Bank OF
South Richmond. which paid per cent
isemiannual dividend on 100000, had
taken no action as TO the new cur
rcncy law but had the matter under
consideration.
Cashier Julien II. Hill said that no
action has been formally taken by the
National state and City Bank liz re.
gard 70 the now currency law, but
that the officers OF tho bank were
gathering the necessary Information
In order that the matter may be acted
upon shortly. The bank VIII pay a
dividend or IL per cent on It's cap
itnl OF 100000 tho etock being on
n per cent basis.
Planters Accepts Currency Act.
The Planters National declared a
semiannual dividend OF 10 per cent on
its capital OF 100000. making a dis
tribution To shareholders OF 100000.
Al meeting held on "Wednesday
morning the directors of the Planters
Bank took formal action agreeing TO
the terms OF the new currency law,
and instructing Cashier Richard II
Smith to make formal application for
registration as soon as the necessary
/ fornaiities can be complied with. At
;hc same meeting the directors voted rs
4 Christmas gift 10 employees bonus
OF 10 per cent OF Il years salary 10
each cmploye, this having been the
most liberal Christmas distribution
made by any bank in the city.
The old Dominion Trust Company has
been in active business less than ii
year, and it's officers stated that there
would he no dividend ut this period.
Tho business. ii was stated. il grow
ing, and "a liberal amount viii be set
apart for the surplus and undivided
profits IN lieu OF the dividend.
The Savings Bank Of Richmond Will
pay it's usual scmiannual dividend Of
8 per cent on 100000. making n dis
jtribution of $4,000. The question OF
registration under the Federal reserve
clause of the new currency law is un-
der consideration, and will be voted
on at the annual meeting In January.
Tho Union Bank, the stock OF which is
paying is per cent announced Its
usual semiannual dividend OK 8 per
cent.
Earnings 60 TO Surplus.
The Richmond Bank and Trust Com
pany, which is scarcely more than L
year old, announced no dividend be-
cause OF the requirement of the State
law that banks Of this class must ac-
cumulate Il surplus Of 10 per cent OF
the capital before making any dstri-
button OF profits TO shareholders
President II. X. Pollard, Jr.. said yes
terday that the bank had earned Z
per cent net during the year. which
amount had been set apart to the sur
plus Mr.. Pollard said he was very
hopeful that it would be on a dividend
paying basis by the July dividend
Iperiod
Tho Richmond Trust and Saving )
Company is also IA newly organized In
lstitution. having been in operation
little more than a year. Secretary i.
~. Wilingham, Jr., said that the com
pany mad earned during the year APP
iproximately $4,000 net. or per cent
on its capital OF 100000, which
amount would be set apart for sur
plus and undivided profits. This bank
! is also subject TO the trust company