Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-11-18
FINANCE AND OTHERWISE.

their diyidends clipped. The directors OF
the Capital Traction Company cut from
to per cent and their stock suffered
severely. while they were putting their
affairs in order.
The Washington Gas Company sudden
" found the price Of its product cut to
so cents in New York city, and. after an
attempt to maintain the $3.50 dividend,
cut 1t to $500. and Is preparing its case
to present to the commission in the i'm
er rates.
Last week the Washington Railway and
Electric directors clipped a 2 per cent slice
OF the Z per cent paid on the common
In recognition Of existing conditions
The Washington Gas Company, in cut
ting Its dividend. took $156,o00 a year
OUT OF the pockets Of its shareholders.
dividend cut cost $4,000 annually, and
The clip IN the Railway common dividends
amounts to 100000 annually, loss to
investors OF $406, 900 year
A hint for readjustment has come
from the Capital Traction Company in
the announcement that an extra diyi-
dend OF 4 per cent, payable December
~, Christmas present of $4,000, is
fs really the first word of cheer and
announcement that has come to them
for many days.
While it is not the intention Of the
l.
former per cent rate, it is the desire
OF the directors to make these little
extra dividend distributions. now and
tn .I1' when when, conditions permit.
over are having a hard time meetin >
| the extra cost Of everything, wages in
cluded, and meeting the exactions of
public service commissions.
Gonservation OF property is one Of the
prime items OF interest to shareholders
and II their interests are well ruardad
during the period Of war actiyities MIR
the possibility Of restoration Of divi-
uenos IN the future, shareholders will
nave comparatively small complaint
A Good War Record.
It was three days before the dec,.
J ration Of the war OF 1912 that the char
ter OF the City Bank of New York.
predecessor OF the National City Bank,
was granted.
The bank, with but 100000 paid in
capital. took 100000 bonds for its own
use and the next year $500, 900 nora
Moses Taylor. president TO the bank in
York and responded to the call Of the
government following the battle OF
| Bull Run. -
Frank A.. vanderlip, its present
and the bank is back Of the admins.
tration. It's service flag carries la
stars.
The National City COMPANY ia an
| able adjunct, with eighty stars on its
| service flag and all Its bond statesmen
at the disposal of the government in
both the liberty loan campaigns.
Each man in both companies is urged
F., to take pride in our afiliation and ses
to It that loyalty and patriotism is sec.
ond TO none In the United States"
Some Slight Improvement.
During the last week there has beer
some slight and welcome Improvement
| in values of some securities. Not Innch
| betterment. but suggestion in ~.
markets action that further decl,nas
are not probable, that the worst NO
nearly over. Trading has been verv
| light.
Twenty-Eight Banks Join.
Since November twenty-eieht banks
and trust companies have entered the
| federal reserve system.
These banks have an aggregate cam
ital OF $4,000. 900. total deposits Of ga
9z9.000,000 and total surplus of s11.-
These figures do not include tho Guar
anty Trust Company. the Bankers
Trust Company. or some other large In
| Eight additional applications have
been acted upon favorably. hut the
membership Is not finally Completed.
Banks Joining the system are com.
| PEELED to comply with the rule reouir-
Ing surplus to be carried with the re-
gional reserve institution. are treated
| generously In the matter Of reserve re-
1 - IL g.