Evening star., 1921-03-18
|R|CGS BANK HbSH.{
NEW BUILDING PLAN
Seeks More Lobby and
Working Accommo-
f-
dati0nS.
BY I. A. FLEMING.

Within the near future the Riggs
National Bank plans to begin impor-
| tant and extensive alterations and ad-
ditions to its bank building. So far
as the plans are arranged they con.
template the rebuilding of the former
Arlington Insurance building, now tho
property OF the Riggs National Bank.
and occupied by its savings branch
and workroom for many employees.
The front of the building wall be
brought into full harmony with the
present bank building. the floor raised
to the levil of the main Office floor and
more direct connection with the
main building brought about by cut
ting away three large panels on the
west wall Of the main Off e. !
Plans include the moving back of
the vault and its enlargement. with
the addition of safety deposit boxes.
The proposed changes would great
ly increase the lobby space and give
the bank increased room for its cleri-
cal forces.
The matter of the temporary care
OF the hundred-odd employees now
housed in the savings department is
problem that may be met by build
ing to the north or through a gall
lery erected in the main Office
A mezzanine floor is planned for
the new building, giving added work
ing space.
While there may be changes. the
plans are understood to be substan-
TALLY as outlined
Business at the Riggs National has
increased to such an extent that more
space is demanded IL the bank would
continue the service that it has been
accustomed to render.
Dividends Declared.
Directors of the Commercial Ma
tional Bank have declared the regu-
lar quarterly dividend of 2k per cent.
payable to shareholders Of record
March 2e on April 1.
Regular quarterly dividend Of
per cent is payable on the shares of
the Security Savings and Commercial
Bank March 81 to shareholders Of
record March 20.
Local Securities.
Washington Gas shares reflected, in
a slight decline to 42h, the timidlty
or some few holders as a result Of
the slight cut in the price Of gas e
notes were held quite firmly at fDoH.
Railway General IS sold at 81.
The real feature OF the market Was
the evident strength in Capital Tr1c-
tion shares, which advanced u to 1
point. with sales at 86h to 81. This
nave confidence in the maintenance of
present rates.
A few shares of Lanston sold at
%. and of Mergenthaler at 119h.
Farm loan bonds are expected to be
on the market in the near future. Re
ports of a sale of $4,000, 900 are ac
cepted in some quarters as decidedly
favorable, as there does not seem 10
De any chance for per cent bonds
these days. even though tax free as
n PM n fnx
be sold at less than par.
the Treasury announces that $53.-
I1s.S00 victory notes were retired in
February.
Silver continues to fall Of its own
weight. Samuel MoRtaEu & 60. of
London thus comments: "A Pittman
act and body of Chinese spectators
could only exert an ephemeral effect
when exports to the far east had
ceased A loss of 81 per cent in a
yeaB would in normal times suggest
that the price was low"
The Italian government is making
strenuous efforts to stabilize the value
OF the lira around cents (American).
rather an adjustment, IN the Pennsyl-
thing.
Illinois Central Railroad Company
showed splendid increase in busi-
ness in January. A 25 per cent freight
increase and IL per cent increase in
passenger fares made the gross satiss
factory.
Submarine Boat Company has been
authorized to buy it's own shares i'm
the open market, using $750.O0O for
this purpose. Other corporations
might do the same thing with good
net results.
American Tobacco shows an income
of $1S.615.39s for the year 1920. a very
slight reduction from the returns of
1919. Net after expenses, charges and
taxes, $4,277,250. more than $1,000. 900
decrease. Profit and loss surplus de-
creased heavily.
Union Bag and Paper Company for
1920 showed $3.50 a share earned on
its stock. The net was doubled
Charles NJ. Schwab has returned
from Europe with decidedly hopeful
feeling for the future.
American Stores earned $12.7s b
share.
The Wall Street journal is respon-
sible for the statement that the in
come tax payments of March Is were
$1,600, 100000 less than a year ago.