Evening star., 1922-12-21
franklin NATIONAL
T00PENAb BRANCH
Location, I'LL Connecticut
Avenue-NeW Savings
Plan.
BY I. A. FLEMING.


roller OF the currency this morning.
|aud by him posted, where it will ro-
main for ten days. awaiting action.
This is the course adopted in the
matter of the application of the Lin.
DIN National Bank, and will pre-.
samably be followed In all further
requests of this kind.
The Franklin National has rented
,he property No. iii Connecticut
avenue. near l. street, now occupied
Nv a retail store.
This location is across the avenue
and little north of the home at one
Ime selected for the Connecticut Ave-
rue Savings Bank, which never func-
'aned
Asked IL he had anything to say re-
arding the movement. Mr.. Cochran.
resident of the Franklin National
stated that they had had the matter
or bank In the uptown section In
mind for a long ime and had finally
Settled on the site mentioned"
Carry $4,000 to Surplus.
Che Security Savings and CONNER.
ICiai Bank directors yesterday declAr.
ed the regular quarterly 3 per cent
diyidend and in addition an extra
dividend of 1 per cent, both payable
December 81.
At the same time the directors vot.
ID to carry 100000 from undivided
profits to surplus account. making the
surplus account now stand at 100000.
Local Securities.
1he local stock market Is putting on
b holiday appearance much as the
business of the city has already
donned
There was no special activity; small
|the rule.
1t is probable that the Washington
Stock Exchange will stand adjourned
from Friday until Tuesday.
Application to List.
The Merchants Bank and Trust
Company has made application to the
Washington Stock Exchange to list
- capital stock. sl,0oo,00o. fully paid.
accompanying the application with
more than twenty-five shareholders.
owing to quotation lot of stock"
New Plan for Christmas Savings.
The Washington Loan and Trust
company has announced the installa-
ION of a Christmas savings club on
L.>different basis from anything now
r operation. plan peculiar to the
rust company and not patented.
Advertising announces that no de-
hoSitS are necessary. no penalties for
elayS. no pass books. no withdraw.
Is until maturity and interest until
discontinued"
Here is the plan as adopted: Upon
sreement by the customer the COM
pany will charge TO his or her per-
sonal checking account the amount
authorized on the 1st and 18th days
the month. or. if such dates fall
b.i a holiday. then upon the next busi-
hess day. beginning January 2. 1929,
Rnd up to and including December IL.
s23, making twcnty-four. deposits In
all. Interest will be added at 8 per
rent. The limit of the individual
member of the club is $1,000. Appli.
rations received until January Is. The
only formality required is the sigma
ture to a card authorizing the setting
aside of the amount desired from
regular deposits
Advantages claimed for the plan are
hese: 1t opens automatically. 1t 10
Unnecessary for the depositor to mako
visits to the bank. there are no
temptations to withdraw funds and
he cash will be available when most
tesired.
Another advantage of the plan 10
hat il does not require any Of the
paraphernalia used by other clubs
and no money was paid to any second
party for the system. y
The Federal National has also In.
st Nled a Christmas savings club. The
directors decided not to install a club
Fhis year but the demand was 50
general that they were forced to
make change and their club has
started most auspiciously.
Federal-American Dividend.
Directors of this bank met thfs
morning and declared a Q per cent
quarterly dividend. payable Janu.
bry I.
The merger did not take place until
november 1. but to even matters the
bank declared the dividend for the
n!ngs equal. Both banks had pre-
iously paid dividends up to- Octo-
Der I.
The Christmas Spirit Dominant.
Around the banks the spirit Of
hristmas and the holidays is domi.
ant. Many of the banks are deco.
6&ing their Offices, while the Union
frust Company has two great trees
brilliantly lighted in it's foyer.
Employees are being remembered by
nany of the banks with extra per.
entages of salaries. and greetings
re- passing to and fro very gener-
esly.
Banks outside of Washington are
Fooding local institutions with
Ind another year of accomplishment.
Local banks have not been strong
bn the interchange of cards, although
his year the Commercial National
nd the District banks are sending
rat very pretty seasonable cards to
correspondents.
Gas Earnings.
From Yesterdays $50 Edition,
The Washington Gas Light Com.
Utilities Commission net income for
November of S63.217.46, an increase
~ approximately $4,000 over october.
when net income amounted to $29.-
ESs.02. The company's showing for
ast month, however. is somewhat less
ran the same month of last year.
y hen net income totaled S76.4S9.0S. =
Revenues from commercial gas sales
asst month brought in $4l9.513.03. as
ompared with $397.762.01 for Novem-
per, 1921.
Capital Traction Earnings.
rhe Capital Traction Company had
net income of sS6.790.34 in Novem-
per, according to it's monthly report
. the Public Utilities Commission to-
iav. Gross income amounted to $116.-
ha3.49. from which total deductions
- $29,203.15 were made.
The company reported falling on
pr 366.954 passengers during Novem-
yer, as compared with the same month
{ last year. In November. 1921, the
ompany carried 6.138.24S paid pas
Sngers and last month only 5,771,294.
Big Extra Dividend.
Directors of the Security Storage
company met this morning and de.
Jared the regular per cent dividend
nd an extra distribution OF 4 per
ent Stockholders are enjoying Q
fne season this Christmas.
SHORTAGE OF WOODMEN.
ST. PAUL. December q lSpeciall.-