Evening star., 1922-12-28
SECOND NATIONAL
ENJOYS GOOD YEAR
Directors Order Regular and
Extra Dividend-No Loss
~. Taking Sales.
BY I. A. FLEMING.

The Second National Bank has en-
joyed most prosperous year during
1922 and in celebration thereof the
directors yesterday afternoon declar-
ed the regular semi-annual dividend
Of per cent and ordered an extra
distribution of 1 per cent, payable
January l.
Having attended to the matter of
= dividends the directors then ordered
$4,000 transferred from undivided
profits to surplus, making, in all.
se5. 900 that has been added to the
surplus during the year.
After this the employees were con-
sidered and the usual bonus of the
holiday season and adjustment of sal
aries was ordered.
During the year the Second National
passed its fiftieth anniversary and
started after the century mark, going
stronger and stronger every day. It's
uptown office was the surprise of the
wear, secori only to the Federal
American merger.
No LOss-TakinE Selling.
One feature of previous years. for
some time that will not be a factor
this week will be the loSs-takinG
street and other markets.
This has been year OF gains IN all
markets, gains that would have made
themselves very heavily felt In the
increased income taxes but for the
fact that those who have made the
gains are still trailing along with a
bull market, figuring that they Will
not have to make settlements with
the government until 1924.
Important interests have made
f. side
of Baldwin, American Can. Stude-
baker and other stocks that have en-
1oyed Il phenomenal rise from the
low figures of last year.
A year ago the loSS-taklng sales were
something enormous, and the losses
made serious inroads into the revenue
of the Treasury Department. There
will be a few losers in the crowd of
got from under during the November
break The profit side has been notice.
able also in Washington securities The
best gains have been in the utilities
and Mergenthaler. but elsewhere, where
the movement has not been as I'M
portant, there have been no declines.
so the loss-taker will not figure as a
factor here, while the protit-maker will
have much more income tax to pay un-
less he. too, stays in the game into 1928.
Franklin Uptown Branch.
1t is probable that the controller of
for the Franklin National Bank to
open a branch office at I'LL Connecti-
cut avenue on Saturday. as the appli-
cation was placed on file Decem-
Der 81.
Morgan, Livermore & Co., II Broad
way, New York, have opened an office
at s23 18th street. Immediately over the
office of Crane, Paris & Co.
The company has private wire con-
nection with all correspondents Of the
home office, including Paris. ]. H.
Spear is manager of the new office.
Local Securities.
Midholiday dullness was dominant
on the local exchange. nor is there
any chance of activity until after
the 1st of January.
The feature of the dull day was
the advance of Railway common 10
6S1s, new high: several odd lots
sold at that price. Capital Traction
5s brought 96A, and American Sc
curity and Trust. 2S4.
Other sales were unimportant.
General business.
The Credit Clearing House Asso-
citation reports business for the week
ended December 25 AS per cent better
than the previous week and per
cent greater than a year ago, while
the turnover exceeded the 1920 total
by 1872 per cent, while the payments
for purchases were IL per cent bet
ter than for that year.
This tells a plain story. one that
every one believes.