Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-12-25
BOARDS OF OTHERS
DECLARE EARNINGS
AT AN EARLY DATE
Federal Trust Company,
Newcomer, Takes Its
Initial Action.
TOTAL OF sl,355,875
IS SENT OUT FOR 1921
Holders of Richmond Civ
Securities Receive Interest
Amounting to S45O,OOO.
LIBERTY noSD INCOME GREAT
Victory Obligations bring I'm over
s3,4oO.000 to Owners In City
Alone.

Twenty-one banking institutions in
Richmond. not including tho, loan and
security companies and corporations
or. the Broad Street Bank. the Cen
trail National Bank, the Merchants
National Bank and the Commercial
Bank and Trust Company, which arc
yet TO hold their meetings. will pnyt
out to stockholders the first of the
year total OF s497,575 In either
quarterly, scmiannunl or annual dtyi-.
dends.
Three institutions have declared
extra dividends as follows: First
National Bank, 3 per cent quarterly
and , per cent extra: Mechanics and
Merchants, per cent sen,Iannual and
per cent extra: Planters National
Bank. 4 per cent quarterly and g per
cent extra. The Federal Trust Cons
pany. newcomer in the financial
district. has the distinction OF de.
clarlng Its initial dividend. which Is
2 per cent. .bG
The checks which will go out the
first OF the year to stockholders Will
mako total OF $1.355.s75 paid out
in dividends by tho twenty-one In
situations during tho year. f
Wy anu Stutc Tut heIOuH.
In addition to the dividend checks
for s4s7.575 to be paid on bank stocks
the first OF tho year. the city OF Rich
mond will pay to holders OF bonds.
many, of whom reside in Richmond,
the semiannual interest tota;.ng
s450,0Oo. while the State OF Virginia
will issue checks to pay the semi
annual interest of $4,000 on State
bonds. SIS per cent OF which arc held
by Nirginians. These checks will
add s1,740.000 to the S1,ab5,s75 paid
out by tho tanks. making grand
total for the year OF ss,Os5.s75 paid,
to bank stockholders or city or State
hondhodcrs.
During the several campaigns for
the sale OF Liberty bonds the sub
script!ons In Richmond totaled more
than $S5.000.0Oo. tho annual interest
OF which amounts to moro than S3,-
100000
In the State OF Virginia there were
subscriptions for s260,Ooo,ooO worth
OF Liberty bonds. on which the annual
Interest totals moro than s1o,soo,0oo
Federal Reserve District.
subscriptions in the Fifth Federal
Reserve District. of which Richmond
Is the heart. being the home of the
Federal Reserve Bank OF Richmond,
totaled s1,o74.621.l50. the annual In
tercst of which totals more than $40
100000.
Bhnkers in the city were pleased
with the showings made by their
individual institutions during the
year. which was characterized rs one
filed with many uncertainties. The
banks suffered losses in several large
failures, which were recorded during
the year. but the officials saw to 1t
that the needs of legitimate enter
pr!ses did not suffer for funds to
meet their requirements during the
days of rcadjustment.
1T has been hard pull for tho
banks. the same as It has with other
business houses" said a leading
banker yesterday. The dividends
declared arc likely to mIslead the
people in causing them TO think tina 8
the banks are reaping a harvest" he
added.
Stockholders are extremely graft
fled with the splendid reports OF tho
local financial institutions.