Evening star., 1922-12-22
NATIONAL CAPITALS
EXTRA DIVIDEND
Declares z Per Cent Extra.
Other Distributions-LocaI
Bonds Attractive.
DY /. A. FLEMING.

DY l. A. FLEMING.
! The National Capital Bank has joined
the ranks of financial institutions maxi
ing extra distributions to their share
holders after one of the most success
ful years the banking business has en-
Joyed. The steadfast maintainanee Of
the per cent on local loans Though
out the year and the large volume of
business produced excellent results.
The National Capital board declared
regular semi-annual dividend of per
cent and an extra distribution of per
cent on its capital stock. Books close
December 26. dividend payable Janu-
ary ..
Direcors of the Seventh Street Savings
Bank gave their stockholders the regu-
lar semi-annual per cent and an extra
of per cent
On the Local Market.
The last session Of the local stock ex-
change until next Tuesday was given
over more to trading in bonds than in
stocks.
Prices were generally strong. The
feeling among investment bankers is
that bonds will move to higher levels
during the coming year, under the
same influences that gave them their
big gains of the current year. Local
bonds are not high.
Sales today were made at 1885, for
Gas notes, ~ per cent: sc for Capital
Traction 5s, 95ia for Potomac Consoli-
dated os. 95ia for Washington Gas
os. and 1868 for Potomac General
and RefundinG 7s
Stocks We're slow. but held firmly
with but one small sale of Capital
Traction at 103is
Columbia National Dividend.
Regular dividend for the quarter Of
) per cent was declared by the direc-
tors of the Columbia National Bank
paya Bile January 2.
A bonus of per cent on salaries
plus $26 was also ordered
Commercial National.
regular ~ per cent dividend de-
clared and usual bonus to employees
ordered.
Exchanging War Savings Stamps.
With Ss25.0e0. 900 in war savings
stamps Of the 1918 series falling due
on the first of January. reports to
the Treasury indicate that through
out the country there has already
been a considerable exchange of these
for the new offering, Treasury saw
inGs certificates.
While no actual figures have so far
been compiled showing the extent of
the exchange. Indications already re-
ceived show. according to Lew Wal
lace. jr., director Of the United States
government savings system, that
there will probably be a more COM
piete return for exchange or cash of
tho 1913 series due January l than
due December Is, S4o0.0e0.00O worth
of which have not yet been presented
for redemption.
The government anticipates no hesi-
practically all of its war savings
stamps due January. l.. but is. nat
urally. eager to refund az large a
quantity Of the ss25,0e0. 600 as pos
sible into Treasury savings certifl-
satss both 20 faf the e. adyantage to the
postwar funding operations Of the
government in paying its public debt.
The exchange offer Is succinctly set
forth in the following Treasury state
ment:
"If you have SIS in war savings
stamps you can now obtain a S25
Treasury savings certificate and $3.50
in cash.
stamps you can now obtain a 800
vASo >S' 'AASeeS anu gao
"If you have $1,000 in war savings
stamps you can now obtain $1,000
Treasury savings certificate and two
800 Treasury savings certificates ana
$40 in cash. :
; The exchanges may be made at post
Offices and banks.
L. 8. Out Of Corporate Names.
At this late date the Federal Trade
Commission has started a movement
corporation to force the elimination
Of the name United States" from the
corporate title.
Hearings have been On in Mime
apoiis against the United States
Roofing and Paint Company, on the
theory that it IL an unfair method
Of competition In commerce. and is
therefore unlawful"
There are seven great corporations
using United States in their corpo-
rate totles whose stocks are listed on
From Minneapolis the findings Of
the examiner will go to Washington,
to the commission, and then to the
circuit court of appeals for Anal judi
cial order.
1t is stated that the small concern
was selected for ruling before big
corporations became aware of the
fight on the use of the name.
All over the United States corpora
tions, banks and trust companies
have adopted the title. It would be
a serious matter to change now. The
United States Steel Corporation is the
giant of all the ~. SIS"