The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-11-18
DISTRICT BANKERS
OUTLINE PLANS TO
SCHOOL OFFICIALS
Educational and School
Savings Bodies Con-
fer tremendously.
LIPSCOMB co. WINS
Awarded Bank Construction
Contract-Finance Firms
Eearnings-D.C.Notes.
LIPSCOMB co. WINS

Harry V. Haynes. chairman OF the
public educational committee OF the
District Bankers Association. with
with Howard Moran. chairman of
the committee on school savings.
conferred yesterday afternoon with
DIR. Howard. of Business High
School. and Mr.. Houston. OF Dunbar
School. relative to the work that has
been outlined for them to accom-
plish In school ranks In the District
Activities to date of the two com
mittees were outlined and tentative
plans for the carrying on of a cam
paiSn formulated, all OF which met
with the staunch approval of those
present The meeting was harmoni-
Gus in every respect, thereby dis
proving rumors that a dissension
existed. and Chairman Haynes an
nounces that a definite working
schedule will be presented within
the next week or so when the cam
paign will rapidly be whipped. into
shape.
Contract Awarded.
Harry V. Haynes, president of the
warmers and Mechanics National
Bank of Georgetown. yesterday an
=.
comb and Company have been
awarded the contract for the con-
struction of his new bank and will
start work Immediately. The con-
tract will be signed within the next
two or three days.
International Finance Earnings.
A growth of more than $780,
in assets within the three months
ala
a quarterly statement to be put out
today by the International Finance
Corporation, of this city. In the
same period the surplus and un-
divided profits increased from
s93,7ss to<s111,501
Total assets of the corporation on
July 81 were 1927, SOS. On October
81 they had increased to s1,435,777
OF the October figure assets
Of accounts and notes receivable
amounted to s1,215.6oo; su1dry ac-
counts receivable, s1s.s75: cash in
banks, 1855
The International, which deals in
acceptances and in open accounts,
ago. More than $1,000, 900 of stock
in the institution has been sub
scribed, nearly 100000 of 1t dur
ing the currsnt yea-. Most of the
stock is held by local people.
Dividends have just been paid TO
stockholders at the rate of per
cent on preferred stock and IL per
cent on common The report just
issued contains an item of s34.643
declared dividends. which were paid
November l.
The earnings of the corporation
during October were the largest so
far, exceeding the previous high
month by nearly a thousand dollars.
"Ve are quite well pleased at the
progress that has been made by our
company. which is one OF the young-
est of washington's financial insti-
tutfons." said Ben l.. Prince, vice
president and general manager of
the international Our situation Is
getting better all the timeeas we
become better known in business
circles"
Local Securities.
An abrupt advance of SIS points in
stock Of the Americap Fire Insur-
ance Company, with none offered.
was the sole feature of yesterdays
trade on the Washington Stock Ex-
change. Stocks held the greater
portion of traders attention with
prices maintaining their recent
frmness in spite of the restricted
trade.
Street railway shares were con-
spicuous, Capital Traction selling at
81. and odd lots OF Railway. pre-
ferred. changing hands at SIX
Mergenthaler was traded in at 13l
and 1907. with Lsnston at 70. Po-
tomac Electric general mortgages
sold at 90. with the consolidated SIS
Of the company holding at So.
Call money ruled per cent bid
for per cent funds.
Dividend Declared.
Directors of the American Tele-
phone and Telegraph Company have
declared their regular quarterly d.
vidend of s2-25 per share. paya BILE
January 16 to stockholders OF rec
ord at the close OF business De-
cember 20.
In yesterdays Wall Street Jour
nal. under the heading Telephone
Industry Is Regarded Depression
Proof" the following is found:
The advance Of almost $50 per
share to 112k in the price OF Amer
lean Telephone stock from it's low
Of last year testiies to the trans
formation which has taken place in
the pubic mind In respect to the
Investment value of Bell securf-
ties To be sure the increase in
the dividend rate last May from
s per cent TO . per cent. together
with receding money rates, have
been important factors. but so Sc
cureIy have the directors builded
upbn the foundations laid by the
late Theodore y. Vail that knock
ing the telephone is no longer a
r0puizr diversion.
Confidence in the ability and in
iszrity Of the management, conf
nee n the security Of the COM
l-ny's capital structure. and conf
dsnes IN the stability Of the earning
power Of the telephone explain tn.
Increasing popularity Of telephone
sscUritfss.-
Dfvfd~sd Rate IL Cat.
The c0nnerclzl National Bank
VIII. beginning December 81. 1921.
reduce its present dividend rate of
- per cent 20 s per cent basis,
sec0rdinz 20 a letter received by
stockh0idsrs yesterday morning.
StoG khoidsrs will nthzt date re-
0eiys IL per cent for the final
gssFtsF Of the year.
TEs abySs setlon Is taken, IL was
stated after a thorough considera-
tiSE 81 the matter from all View
BDihts the 0rtesrs and directors are
firmly ~ ms opinion that IL will