Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-12-26
HIGH MARK IS SET
IN NF|NANCES HERE
Unparalleled Prosperity Indicated
by Dividends to Be Paid to
Stockholders.
MANY WORKERS GET BONUSES
Earnings for Holders of Shares
With Total From to Is Per
Cent for 1919.
MANY WORKERS GET BONUSES

Unparalleled prosperity all over tho
united States in commercial and fnan.
car circles during 1919 fastened ira
impress upon Richmond with the end
OF the year only few days distant.
the financial welfare and we1l-beipc
OF the capital city OF the Old Dominion
is rehected in the form OF larger bank
deposits than ever before. statistics
sho"ins that the volume of business
mere has never been equaled before.
and figures show that the earninr.
II Richmond banks have been much
greater than In previous years.
On January 1. many thousands OF
dollars will be paid out by the anan-
iial institutions of the city in diyi-
demds ON Viii fhe eaptai stock These div
semiannuaily 70 10 ooin per Ice cent per scent cent
nakinga total Of s5 sI per cent Pef for cent; the
extra dividends, in addition to large
sum turned into the surplus This
erocedurs !, ,,,o,, is accepted as an Index TO
nIcnn''nos nnanctal solvency and
prosperity.
Made Too Much Money.
Richmond business houses and man
utacturing plants actually made too
can, National Bank. last night. This
condton % 3f ra, affars had resulted in an
decrease the purchasing power of the
dollar, Mr.. Sands declared.
must dictate our finaneisl s @eaf sctfvefes nfass
time when good guidance was needed
an era. of unusual prosperity and there
Is great demand for ali kinds of goods
IS not as g as in Years.
here are more dollars. The expansion
Of credit is at its crest.
Mr.. Sands. 1--WE will have to learn to
eiconomize &c ono In, and produce more There
production is increased and credit cur
,ailed. there can be nothing but trou-
aeon on the part of aoa
business men. I cannot see anything
Sut good. substantial business ahead
for several years"
Business Beyond Expectation.
First National Bank. declared last
night that bank deposits during the
ee had ever shey woud bs
and that the volume of business for
all banks had been larger; Bank earn
said. which was due to unprecedented
prosperity all over the country.
Without exception. Richmond banks
large bonuses for Christmas presents
or gave them substantial gifts. The
First National Bank gave its workers
the first six months of the year and
% per cent for the last six months on
Christmas Eve. This was exclusive OF
The National State and City Bank
gave rs per cent bonus for the first
manning two quarters. The American
National Bank gave a bonus Of IS per
cent for the year. distributed 10 per
cent at Christmas and per cent last
July. These are the high-water marks
in the distribution OF bonuses.
Bonuses Given Employees.
Employees of the Federal Reserve
Bank Bank earning up to % s1,5oo yesrr were
salary. Those earning up to s3Oo0
received bonus Of IS per cent and
10 per cent of their earnings.
Asked for a statement on the out
standing features OF the financial year
Indication of financial conditions in the
coming year. George ]. Seay. governor
Of the Federal Reserve Bank. stated
to the city after a long absence. and
was not prepared to say anthing at
the the time. He Will issue statement
al the banks in the Fifth Federal
Reserve District in the near future, II
was understood.
banks for the year and the percentages
OF bonus granted employees follow:
First National-Quarterly dividends
OF IL pc, cent on tho capital stock
FOR the first three quarters. For the
last quarter a dividend of per cent.
amounting, to $4,000 on the capital
Quarterly Dividend , Per Cent.
American National-Quarterly divi-
dend CT per cent. 10 per GENT bonus
on saiary Tor first six months OF year
and per cent for last six months.
Quarterly dividend of 2 per cent. Bonus
OF 20 per cent on salaries OF employees
Broad Street Bank-Divide,d of
per cent semiannuaily. No bonus o but
substantial Christmas present for all
Broadway National Bank-Dividend
OF ! IL per cent semiannually Bonus
OF per cent OF years salary for em
Central National Bank-sem,annua,
dividend OF 3 per cent on $3.50. 900 OF
ca nital and dividend OF per
cent cen Wv which is at the rate of per cent
of capital stock issued on NovenSe. SSe,oyV
,%,9 Total Of 2 per cent semiannu.
@ ON iota hosN capitalization Of 100000
Church Hill Bank-Dividend Of snsr
cent semiannually No bonus. but pres-
ent to all EMPLOYEES for Christmas
Pay Four Dividends,
Fidelity Loan and Savings Con-,
pany-Three duarteriy dividends Of
ner I" cent and dividend OF 4 per cent for
salary for year for employees. :. q
Loan and Savings Cornoration ~ (
hic htnond-Semiannual dividend OF
ner cent with per cent added. Christ.
mas present for employees. ' &
Mcchantcs and Merchants Rank Of
south Richnond--Sem miannual dividend
Merchants National Bank--f0 Nor (,
cont scmiannual dividend. with Dor
cent added. Substantial bonus.
National State and City BanE.-Ounr.
teriy dividend Of 2 per cent. Bonus
OF 20 per cent on salary Of employees