Evening star., 1922-07-19
bank STOCKS ARE
GOOD INVESTMENTS
Dividends and Net-Price
Gains Are Satisfactory.
Local Shares Firm.
BY 1. A. FLEMING.

Bank stocks as investments may not
have paid the best dividends from the
point of the quarterly or semi-an-
nual distribution. but any one invest
ing in the stocks in any of the older
institutions in Washington within
the last ten years may add their divi-
dends to their. paper profits and show
very profitable investments.
It js the same story all over the
country, with many banks increasing
their capital and their fields Of ac-
tiyity that they may be OF more serV-
ice to their clientele.
So far this year. increases were
made in New York as follows; Guar
anty Trust company s9gn ANY. t19atuuu tSatbaw and
Phoenix National. s3.5oo.ooo: Fifth
ali and Mercantile Trust merger
brought $1.000.000 added stock, and
the Hanover National increased It's
stock by $2.000.000. ~.
the need Of additional capital as have
institutions IN other cities. more I'M
portant from a commercial stand
point, although there have been some
opportunities for employment OF
larger, sums than Immediately avan-
seryative character demanded by
local bankers.
washington is employing more
money in the real estate mortgage
investment field than ever before.
Chicago, Philadelphia and otner
large cities are placing loans on
washington realty and are onerins
more adyantageous terms. while the
financing of the automobile business
REQUIRES millions annually.
1t is likely that there will be oe-
yelopments in local banks before the
end of the year. merger or Two
mhy be made, and these are to oe
of banks and STRENGTHENING those IN
existence. So fat the Riggs Hamilton
and Merchants-D Dupont are the only
unions to the credit of 1922.
1t is also possible that there may
be some payments of larger annuai
vhnces recently made in the shares
Of certain banks and trust companies.
Calls 1t Income Tax.
I. c. Brown. cmomenting on the
intangible tax says:
IN the case of an individual. Is the
District personal tax a combined per-
sonal. estate, intangible and income
tax?
For instance, If an individual re-
ceived a check for his entire years
labor on July !, would he be liable
for a tax of one-half of 1 per cent
thereon? Further. if any income he
receives July !. either from invest
ments or for services. payable oftener
than once a year, is taxable, then he
is paying income taxes for that part
of the year covered. Yet ii is said that
there is no income tax in the Dis
trict"
Mr.. Brown seems to be stating the
case, except that payments OF wages
and salaries, as we'll as incomes. are
rarely made in this day and age an
nually.
If pay day comes but one day a
year refuse to draw it until the I'd
day of July, when you will have an
entire year to spend it.
Returns must be made this month.
under 20 per cent penalty addition.
One may find fault with the intan-
the tax has been tested and is con-
stitutional
Railway Common 56-57.
At the pace Railway common has
been setting during the last few days
it would cause no surprise if the $50
a share price was reached before the
end of the week. Stock sold today at
Sc and a small lot at 81. The bid
price at the close was So and the ask :
'
offerings are withdrawn from the
market and 1t 'is harder to buy than
when the shares were many points
lower.
No new developments reported. but
confidence is expressed that an actual
bid will soon be made for the big
block of common stock in the rail-
way and electric company.
Capital Traction sold sparingly at
101 to 101A.
Capital Traction SIS. 9SN.
Lanston sold at 7SH.
Personal Mention.
j. Fendall Cain. an official Of the
Commercial National Bank. is back at
his desk after an absence of over four
months,s during which time he passed
through a severe illness. Mr.. Cain is
one of the best known banking Off
cials of this city. having been with
the old Merchants and Mechanics and
later with the Franklin National