The Washington herald., 1914-01-20

| only on the part OF tndfv1duaiB but OF
organisations. Is increasingly favorable
to q rate increase.
saThe trials of the railroads through
the activities of State commissions is 30
great that Congress should take steps to
put the whole matter in the hands of
the Interstate Commerce Commission,
which is q judicial body as against the
politically Influenced State bodies. An
other burden which is becoming increas-
ingiy heavy Is that of taxation: some
thing must be done about that"
National Savings Elects.
The annual meeting Of the stockholders
of the National Savings and Trust Com
pany yesterday was held at the ONCE
of the company. The following directors
were elected for the ensuing year:
Woodbury. Blair. John C. Boyd. James
A. Buchanan, William A. H. Church.
Walter C. Clephane. William v. Cox,
William E. Edmonston. George w. Gray,
William d. Hoover. George Howard.
Reginald s. Huidekoper, Thomas r.
Jones. o. H. p. johnson. Victor Kauff-
manu. Edward Mclean, Samuel Maddox.
William F. Quicksall. Frank W. Stone.
William H. Walker, John L. Weaver. and
Henry K. Willard.
Immediately after the adjournment of
this meeting the newly elected board of
directors elected the following officers for
the ensuing year:
William d. Hoover, president; Wood
bury Blair. vice president; Frank w.
Stone, second vice president; George
Howard, treasurer: Charles z. Nyman.
secretary; Charles c. Lamborn, assistant
treasurer, and Frank Stetson, trust Of
ficer.
New York Banks Gain.
For the first-time in eighteen months
the New York banks have developed a
really strong position. Their deposits
now exceed their loans by over 100000,
something which has not been seen in
tional banks to the Comptroller of the
Currency as Of January Is soon will be
made public and will undoubtedly dis
close the same state Of affairs through
out the country. The stock and bond
markets reflect this condition of the mar
ket. The demand for bonds is much
better and promises to improve still
further. Under these conditions there is
only one way for the market to move,
interrupted by reactions, but the main
tendency, I believe, is toward higher
prices. In other words, the bear market
which began in the autumn Of 1872 Is
over and the bull market has begun
Dividends Last Year.
A table of dividend increases and reduc-
tions for the last year shows that forty
seven companies reduced or passed their
dividends, while fifty-five increased their
rate. Fifty-six companies started initial
dividends. Stock dividends were paid by
twenty-six companies, and extra cash
dividends by sixteen. OF the companies
increasing their rate in 1913, about two
thirds are public utilities, only one being |
duced their dividends, resulting in an an
nual loss to stockholders estimated at
SO, ,0o0, 600.
Eugene Thompson Elected.
The governing committee of the stock
exchange consisting of Benjamin Wood |
ruff, William A. Mearns, w. ]. F1ather, |
Daniel Fraser. A. X. Paris, G. W.
Weber, and w. B. Hibbs yesterday held |
a meeting and examined Engene Z.
Thompson, who was elected unanimously |
a member of the exchange. Mr.. Thomp- |
son will take his seat on the exchange
today. Mr.. Thompson has been with
Crane, Paris & Co. for seventeen years. |
He is the author of Washington Securi- |
ties"
Real Estate Rumors.
Financial circles yesterday were in
terested in reports of what wax described |
as the biggest real estate transaction os
several years involving the Woodward, |
Southern and Bond buildings.
The F. II. Smith Company, the First |
National Fire Insurance Company and
the Munsey Trust Company representa-
tives denied such a transaction was in
progress
Vice President Tuttle, of the First Ma
tional Insurance Company, said the
Southern Building was not for sale and
Improvements aggregating $50 900
through the erection of two additional
stories would be carried out as planned.
President Not to Attend.
President Wilson yesterday declined an
invitation to be the guest of the WASH
ington Bankers Association at its an
rual banquet Saturday evening. The
President pleaded the pressure of public
business as the reason for his declina-
ticn. The delegation was headed by
John Poole, president Of the Federal Ma
tional Bank.
b. & O. Statement.