The Washington herald., 1913-01-16
{, 7, WILLIAMS
QUITsBUs|NEsS
Is Succeeded In Firm of Lewis
johnson & Co. by Ben
Woodruff.
BANK RAISES DIVIDEND
Home Savings Buys Property-unus-
uaIIy Big Grist of Local
Financial News.
BANK RAISES DIVIDEND
by I. A. FLEMING.

Nv I. A. FLEMING.
Charles T Williams, who for the last
eight years has been member Oh tne
old and time-honored brokerage and pri-
,,,te banking firm of Lewis johnson q
Co Yesterday disposed of his interest
70 his partners, J. w. Henry and William
A Mearns.
For two years MIR. Williams health mas
been poor. and during the past year ne
has been at the office of the firm only
periodically, spending much of his time
resting and Convslescing.
His long career in financial Washington
as a banker and stock broker as wen
as his cheerful disposition, have mace
him many close friends. Keen regret
is exnressed that he has felt it necessary
TO take a prolonged rest, and ms return
10 the activities of business will be wei
coined. w.,
G T Williams was cashier of the west
End Bank. and brought about the con-
solidatiou of the West End Bank ana
the Citizens Saving Bank years ago. lie
is a director OF the Georgetown Gas
Comnany; also its secretary, ana mas
been prominent as shareholder III the
Washington Gas Company, and interested
in traction lines in the early years OF
81 have faced a number of panics on
Wall street and in the country. SAID
Mr. Williams, lin 1901 1895, and lsOI, ana
have passed safely through these strug-
rles I am not a well man. and owe
il 70 myself to rest and TO avoid the
responsibilities of the year 1913
while l am not pessimistic nor look
ing for>any serious trouble IN lSi9' the
change of administration ana the CON
tinued enforcement of the sherman IA"
and disturbance of business Is oounu "
make it a crucial year.
II am not through with ousihessLt
have been in Washington hfty-elght
wears, and will make connections on my
re1ur1. provided | come back a wen man.
leave the old firm with the friendliest
feelings for my associates, regreuulS,
but believing it is necessary ana pes'
that ] should
Mr.. Williams will not retire from tne
directory of the Georgetown Gesnght
Company, and he will retain MS seat vi
the local Stock Exchange
Ben woodruff in Firm.
Ben Woodruff. the popular and peren-
rial president of the Washington STOCK
Exchange, and one of the best-known OF
the younger men of the town, VINO mas
been with the firm of Lewis, Johnson IL
co for several years, was admitted TO
tEc firm Yesterday. Mr.. Woodruff rep
resented the big Wall Street house OF
Post & Flag for number OF years ana
when he Joined the Lewis Johnson q
60 forces. Post & Flag were made cor
respondents.
W. A. Mearns is the New York Stock
Exchange member of the firm
Mr., Woodruff will be warmly congratu-
lated when he goes on change to-day and
axnraSSOnS of regret VIII
I've heard that Charlie" Williams, good
natured and happy. is to be absent iron
the daily sessions even for a few months.
Washington Loan and Trust.
The Washington Loan and Trust Com
many directors met yesterday afternoon
and reelected the entire roster OF old
officials. holding TO the long established
principle of retaining faithful servants.
In considering the matter oil diNldeno
increase the directors decided to make
the pavment per cent quarterly, or on
an s per cent basis, with the under
standing in the. board that, should 1913
be a prosperous year, and the earnings
of the bank warrant the payment, an
extra dividend of . per cent would be
paid the shareholders early in January
1914. This would be an increase of from
: to 10 per cent.
A matter of $4,000 was set aside from
the earnings to the surplus fund.
The Washington Loan and Trust Com
many earned 10, per cent on its stock in
1872 Since its organization it has paid
81 66S, F7.5S in interest to its depositors
and s., 267.5 500 in dividends to its share
holders.
The action in devoting $4,000 of the
ca rnings to the surplus account now
makes that fund $1,000, 00o-exactly the
size of the capital-giving the bank ad-
mittance into the magic circle of the
gold mark, "honor banks. 60
Home Savings Buys Property.
The Home Savings Bank has purchased
for $1,000 the lot adjacent on the east
to its banking house at Seventh Street
and Massachusetts and New York Ave
nues Northwest, formal title having just
passed from the former owner, Edward
B. Stumph.
The lot and its building, now occupied
by Stumph & Lyford, is of irregular
shape, about seventy-five by eighty feet.
1t is now occupied by Stumph & Ly-
ford. who will continue to use it, though
the property will ultimately be used to
enlarge the Office facilities of the Home
Savings Bank.
B F. saul president of the bank, said
last night that he expects the bank will
need the newly acquired property in two
or three years. The use of the combined
space on the main floor would give the
hank about 1Oeao square feet Of floor
space.
Continental Trust Company.
G. w Huske. C. T. Scott. and Owen p.
Kellar were appointed special examin-
ing committee of the shareholders of the
Continental Trust Company to make a
thorough examination of the assets of
the company. the conduct of its bust
ness, &c, making one report to the direc-
tors and a duplicate to the Comptroller
Of the Currency.
port. covering every detail, even to $500
overdrafts, and found the corporation in
ship shape, making full Roadway, with
systematic efforts well directed; COM
mending the bonds and other investments
of the company, and congratulated the
shareholders on the good'condition of the
bank.
Special attention is called to the splen-
did showing of earnings for the year
iO.32Ss6 net on an average capitalization
Of sSSl. 0Oe.
VIII Travel and Nacate.
ID is understood that the associates of
President Fox. of the Columbia National
Bank, have made remonstrances to him
anent the long life habit of sticking close
to business. and have urged that he va
cate, long and often, taking chances that