Evening star., 1923-04-23
MAY Be DIVIDEND
0NW.R&ECOMMON
Directors Meet Tomorrow.
4 to 5 Per Cent Annually
Suggested.
BY L. A. FLEMING.

BY 1. A. FLEMING.
There are persistent reports on the
| street regarding the probability of a
dividend declaration on the common
stock Of the Washington Railway and
Electric Company at a meeting of the
directors of the corporation to be
held tomorrow afternoon.
Shareholders have waited impa-
tiently for four years for some return
on their investment and have sensed
in the rising prices of the last few
months the nearness of such a dig
tribution, finding confirmation Of their
views in the street reports of the
| financial condition of their company.
| Rumor has IL that the distribution
\ viii be either on per cent or q >
per cent basis. l per cent or IN per
| cent payable quarterly with the
| chances favoring the higher rate.
| The last dividend paid by the Wash
| ington Railway and Electric Com
pany was paid in March, 1919, max
| ing IL little more than four years
during which time there has been no
| return on the stock.
| In the period between then and
now the stock declined to 1928 a
share, this being the lowest price last
year. and advanced to 20. and since
| the United States Supreme Court de-
cided it did not have the right to
review the act Of the appellate court,
to 72$.
The divend history Of the common
stock is interesting. 1t paid its first
| dividend on common stock, 1 per cent.
| December l. 1903; in 1S10-1911. 2 per
cent; in 1912. per cent: in 1913, 61a
per cent; in 1914-15-l6, per cent,
after which the retrograde move
ment started both in dividends and
| market price.
IN 1917 6la per cent: in 1913 5 per.
cent. and then IN 1919 the final pay.
| ment mentioned above.
| The year 1912 marked the rise and
! the beginning Of the fall Of the Wash
ington Utilities Company. although
| 1t was not until recently that the con-
| dition of the company forced fore
| closure of its notes and sale OF the
27,500 shares Of the Washington Rail.
way common stock to interests iden-
tilted with the North American Com
! pany.
The Washington Utilities Company
1 paid cash for much OF the stock taken
| over from holders in the accumuia-
| that the late George Truesdale sold
| TO W. B. Hfbbs at one session OF the
local stock exchange 1000 shares at
| :s0 share.
A. $40 share the return on an in
vestment in Railway common paying
4 per cent would be 81 per cent: on
a per cent basis, little better than
Ia per cent. AS an investment
| stock 1t would also return an addi-
| tional II of l per cent because of the
trict intangible tax Of Il of 1 per
| cent.
! Local Securities.
| Today's trading was decidedly re-
1 stricted and there was no special in
| terest in the session. Bonds furnished
| the greater part Of the trading and
| they appeared to be slightly easier.
Capital Traction 5s brought 96lz ;,
| Georgetown Gas 5s sold at SS; Po-~.
| tomac Consolidated SIS were firm at.
s7lz and. the Potomac refunding and
| general mortgage Is strong at 101.
| Stock trades were greatly restricted,
a few shares of Capital Traction, at
ss3s. and of Gas. at 4s. completing
the record.
Bankers to Talk.
Victor 3. Deyber lectures. April %
on Money and the Use of Money
before the School of Application.
Supply Corps, L. S. y.
on the 25th instant. before the same
class, L. J. McQuade will talk on
Functions OF a Bank
New Credit Banks Ready.
The twelve new intermediate farm
credit banks, to operate under the
new agricultural credits act, viii
| Opcn May 4.
! The banks have all been chartered :.
and will be prepared to consider ap- '
plica ations for loans. A uniform dis
| count rate OF 51a per cent has been
fixed by all sDf the banks, guarantee
ing to farmers credit at not e1-
ceeding per cent, with the possi
bility Of slightly lower interest
charges
Better Business Bureau.
A large supply of question
naires, many thousand in fact, are
| being furnished to employees in the
! Treasury Department today by the
| Better Business Bureau They are
being distributed through the CO.
! clerk OF the Treasury Department,
who has approved their distribution,
| and preparations are being made by
| the bureau to place many thousands
Of these in other government depart
ments.
| They have had a wonderful effect in
| eliminating the questionable promoter
! fields and are greatly helping the
| legitimate financial organization by
1 increased sales resistance.
1t has been found that in the great
majority of cases when the promot-s
! ers are asked to fill out one of these
! Better Business Bureau question
! naires, he excuses himself and leaves
! the home or office of the prospective
! client.
| Mr.. F. Y. wholley. director of tho
Better Business Bureau. says that in
l the course of the next two or three.
4 months every person In the District
| of Columbia and the suburbs adjacent.
| will have been furnished a supply OF
| these Questionnaires for their use.