The Washington herald., 1921-12-21
RICHMOND GRANTS
TRUST PRIVILEGES
TO NATIONAL BANK
Feature Necessitates
Change in Plans of Far
mers & Mechanics.
[OTHER LOCAL NOTES
Clearing House Meets Today.
Four Corporations De-
clare Dividends.
OTHER LOCAL NOTES

The Federal Reserve Bank OF Rich
mond has granted trust features to
fhe Farmers and Mechanics Nation
|al Bank of, Georgetown. according
70 announcement made yesterday.
This feature carries with it a di-
Ploma or charter. which gives the
holder the right to act as trustee,
executor, administrator. registrar of
Ptocks and bonds, guardian of es-
ates. assignee. receiver and commit
Zee Of estates and Iunatics. etc. in
act. every privilege vested in trust
Companies
The acquisition Of this service car
les a disadvantage in the above
ase- Plans for the new institu-
ion which have been completed. will
ave to be renovated to the extent
n providing facilities to care for
his new business A trust depart
nent VIII be installed. President
Haynes advised yesterday. that will
lie with the foremost in the city.
The board Of directors OF the in
tituffon will meet on Thursday. when
he question OF a trust officer will
ndouotediy be brought up.
Clearing House to Meet.
The Washington Clearing House
Ssoclation will hold a meeting this
fternoon in their Offices in the Ma
onal Metropolitan Bank.
While no hint as 10 the business
De brought up has been received.
evertheiess IL Is believed that def
te date will be set for the new
ssofiate members. admitted last
me- to begin clearing through their
nemhers. inasmuch as all formalities
ave been compiled with. The banks
question are as followsS Wash
hgton Mechanics Savings, to clear
trough the District National; Peo-
les Commercial and Savings. to
ear through the American National !:
nd- w. B. Hibbs and Company, to
lear through the Dupont National.
II Is expected that a representa-
We OF the Washington Loan and
rust Company. possibly President
arner' will sit in their first meet
hg.
Dividends Declared.
At a meeting OF directors of the
eneral Finance and Security Com
hnyS National Metropolitan Bank
uilding. an initial semi-annual divi-
End Of AZ per cent on the pre-
frred stock OF the company was
eclsred, payable January 9. to stock
blders OF record December 20.
The new company Is progressing
cry favorably. officials declared. and
is their intention to keep dividend
Isbursements at an annual minimum
2 per cent
Directors of the Merchants Bank
ave declared a semi-annual dividend
3 per cent on the capital stock
the institution. payable on January
to stockholders Of record Deem
rr,15.
The board OF directors of the Old
utch Market. Inc. have declared
cir regular semi-annual dividend Of
per cent on preferred stock, paya-
to shareholders of record jan
pry .. 1922.
THE board OF directors of the Old
sItch Market Of Richmond, Inc, have
hclared their regular semi-annual
vidend Of per cent on preferred
ock. payable to shareholders of rec
Id January 2. 1872.
Local Securities.
Few transactions marked yesterday
the local Stock Exchange.
SIX shares of Capital Traction were
Id for 941=. four sales OF Washing
nj Railway and Electric preferred
Es1lted in IS shares OF that stock
bahEing hands at 81. and 80 shares
Washington Gas Light were traded
at prices ranging from so to 50K
Mergenthaler commanded some in
rest. % shares of this typesetter
Hing at prizes from 1921 to 1879
After call. five $1,000 blocks of Po-
mac Electric General Mortgage and
edhnding is were sold at 1O4lt, ano
bel $4,000 block Of Washington Gas
ght SIS were traded in at 90.