The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-12-26
Corporations Bring
Grand Total to $685.
762 for Half Year.
BANKS TO ACCEPT
NEW RESERVE LAW
American and Planters Have
Already Applied for Federal
Registration Under Currency
Act, and Others Will Take
Same Course-All Show
Big Growth.

Dividends declared by Hichmont
banks. to be paid on January !. ag
grcgate !296,2T7.5O, while industria
and insurance dividends of local cor
porations announced for the Same
period, bring tho total to $500, 80
There has been no reduction in divi
dend by any Richmond banking insti
tuition. On the contrary. the Churci
fiill Bank, scarcely moro than ycal
old. has announced It's first semi-an
nual dividend Of . per cent The Fir
Einia Fire and Marine Insurance Com
pany, which has been for several year.
on II 10 per cent basis. viii pay semi
annual dividend OF per cent, putting
it's stock on Il per cent basis.
Building Up Surplus
Several OF the newer institutions
have more than earned dividends, bu
under State banking laws are devotint
the proceeds TO accumulation of sur
plus until that amounts TO 10 per cen
Of the capital stock. The American
National aud the Planters Nationa
Banks have already taken steps t.
become Federal reserve banks undei
the terms Of the new currency law
and the other banks have the matter
under consideration, the directors II
several instances having agreed TO laI
IL before the stockholders 1T the an
nual meetings in January.
The Virginia Railway and Powc'
Company las declared its usual semi
annual dividend of . IL per cent or
it's preferred stock. payable Jnnuar!
10. The preferred stock OF this com
panv Is now on n per cent basis. pay
ablc in January and July. The com
mon stock PAYS per cent, the DIVIDEND
periods being April aud October
Dividends Announced.
Dividends have been announced a:
follows:
American National. capital
SI,oOD.D30; quarterly dtSt-
Jcnd Of /: per cent. S 10000 "
Bank OF Commerce and
Trusts. rnpftni s"50.0o0;
scmiannunl dividend of g
per cent ............... $500 o'
BrOad street. capital $780,
400: -cmInnnuni dividend
ar = per cent, payable In
February and tuGust.
broadway National capital
S20O.10O; new Institution.
profits devoted to surplus.
Central National, capital
s35O.OOO; third consecu-
tive scminnnunI dividend
of IL per cent. ....... J.25O O'
Church I'm, capital, $780,
600; tlrst seminnnuul diNi-
dend of per cent. 5000 0'
Fidelity Loan and SnvinEA
Co., capital SI0O,000; new
institution; profits devoted
to surplus.
First National. capital ST..
100000; semiunnual dIvi-
dend OF per cent. t........ 100000 ~
Main street, capital $780,
900, directors have not
acted.
Manchester National, capI-
tai, $f50.00O, directors
have not acted.
Mechanics md Merchants,
capital 100000; seminn-
nuni dividend of 9 per cent 5000 O'
National State md City, cap
itnI S1.0OOOOO; semian-
nunI dividend OF 3 IL per
cent $4,000 o,
Planters National, capital
S30o,O00, semiannual divi-
siend of TO per cent. 10000 O'
Old Dominion Trust Co, cap
ttal SI,O0O,0OO; new insti-
tuition; profits devoted TO
surplus.
Savings Bnnli of Richmond,
capital S2OO.OOO; seminn
nunI dividend of 3 per cent 10000 OF
Union Bank of ItichmOnd,
capital S2I9,750i seminD-
nunl dividend of . per cent 1O,7.5 81
Richmond Bank and Trust
Company, capital $780,
600; new institution;
profits devoted to surplus.
HlchmOnd Trust and Saw
ings CO., capital 81 1,000.000;
new institutions; profits
devoted TO surplus.
Merchants National, capital
S2OO,OOO; semiannunl divi-
dcnd OF 10 per cent $50. 2e,000 O'
Virginia Trust Co.. capital
SI.O0O, 900; scminnnual div
Idcnd of per cent. 10000 0t
West END Iinnl<, capital
y S25.00O: semi-Rnnuni divi-
dcnd of :, per cent ...... $50 OF
Total bank dividends. S:06,277 81
NEUTRALITY-SUSPICIOUS. Chemical
Co. preferred stock S1S,-
AOO.GOO; scyenty-third con
secutivc quarterly diNi-
dcnd of per cent ....... 100000 0t
Virginia Fire nnd Marine
Insurance Coz, capital
S25O,O00; semiannual divi-
dend of q per cent ..... $4,000 OF
Virginia Railway and Power
Co. preferred stock, ST.
G00,iOO; seminnnunl divi-
dend of LIZ per cent.
payable January 10. ... IO2.4SJ Ot
Total announced diVi-
dends Observation-Disclosures. SS63,782 II
Christmas Gift to Employees.
At the American National Bank q
Christmas gift of per cent of the year.
ly salary has been voted to each per
son in the employment of the bank
President o. j. Sands stated that this
hank has applied to tho Treasury De-
partment to he listed as a Federal re.
serve bank under the new currency
law, 1t having been the first hank In
Richmond to take such action.
The Bank OF Commerce and Trusts
although not national bank, will
shortly apply for registry under the
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