The Washington herald., 1921-06-30
FRANKLIN BANK
RAISES ANNUAL
4. DIVIDEND RATE
July Disbursements Call
. For Payment of
Z Per Cent.
OTHER LOCAL NOTES
Potomac Savings Declares
.Diyidend - Retirement
System for F. &. d.
OTHER LOCAL NOTES

directors of the Franklin ma
,,onaI Rank have declared a semi
.nnuaI dividend of 3l5 per cent
uoon the capital stock of the IN
stitution. payable July l to stock
boLsers of record June 80. Cheeks
coykrtnz the dividend disbursement
haTs been drawn up and Will Dc
msi3ed this afternoon.
the annual dividend rate of the
Eranklin National Bank heretofore
has been per cent and the IN.
craase TO per cent was decloeo
upon as proportionate to the earn,
inxs which have scored an unusual
growth in the past six months
periAd.
Tphe checks will be accompanied
by a note of congratulations from
PrseIdent John B. Cochran, extend
ingFhanks to shareholders for their
loyalty and confidence.
soPotomac Savings Dividend.
. The Potomac Savings Bank Is
mailing out its semi-annual divi-
dend checks calling for per cent
disbursement on the capital stock
Of NE bank. The annual dividend
which was formerly 6 per cent was
increased to per cent at the regu-
lar declaration on January last.
Local Securities.
Weakness in Capital Traction
stock, probably prompted by agita-
tion over fare rates and a decrease
in earnings, proved the feature on
the,n Washington Stock Exchange
Yesterday. This issue, which was
trased in extensively in odd lots'
fiueruated within a narrow range
the" opening and closing remaining
at s4k, with "a and san the bound
aries. A total of 130 shares were
traded in
National Savings and Trust Com
many stock broke into the trading
after comparative inactivity ten
shares changing hands at 275. Mer-
gerfthaler sold at 119 and 11SA ana
Security Storage Company shares
changed hands at 212. Continental
Trust stock sold to the extent OF
ten shares at 100.
Potomac Electric debenture 6s
were the only bonds traded in,
s2.t selling at "a. Money on call
ruled Z per cent asked and 61s per
cent bid.
Franklin Holds Picnic.
Employees and officials of the
Franklin National Bank were yes
terday afternoon rendered a picnic
at Vacation Lodge, Va, by the
directorate. Various amusements
were indulged in during the after
noon, followed by a chicken dinner.
An, orchestra, provided for the oc-
casion, supplied music for the dane
ing that followed. Refreshments
were served Immediately before the
return trip.
The delegation, numbering thirty
three made the trip in automobiles.
BowIes Buys Home.
b. A. BowIes, cashier Of the Po-
tomac Savings Bank, announces
that he has sold his former resi-
dence at 1928 Hall place and pur-
chased a large house with a half
acre of lawn at 30O6 Albemarle
street.
Savage at Warm Springs.
Francis NJ Savage. president of
the Northwest Savings Bank, is
spending a month at Warm Springs.
w. Va. Mr.. Savage has remaineo
in the South from the date of the
recent convention of District bank
ers,
Retirement System for F. and d.
ihe institution of a retirement
system for officers and employees
was announced yesterday by the FL
deity and Deposit Company of
Maryland. The executive commit
tee, in passing a resolution estab-
fishing the system, stated that IL
was in recognition of the fact that
the success of the company is due
to large extent to the faithful and
efficient work of It's officers and
employees; and that the provision
made for retirement under certain
conditions was intended to encour-
age and perpetuate honorable, ef-
ficient work in the future, as well
as to recognize the common inteS-
est, Of the company and its work.
erS
The resolution authorizes the
payment of allowances during the
pleasure of the company to officers
and employees who on account of
old age or the failure of health be-
come disabled and unable to render
further service. Employees who
have rendered five years continu-
GUS service are eligible.
The Fidelity and Deposit Com
pany was founded in 1890 and a
employees have many years of serv-
case, company oficials were not
prepared to hazard a guess as to
how many Of its people might take