Evening star., 1923-02-17
V|RG|N|AN RAILWAY
HAS BANNER YEAR
Road Earns $6.72 Per Share
on Common-Growth Of
District Banks Shown.

: Earnings Of $6.72 on common shares
were made by the virginian railway
In 1899, the largest earnings on COM
. mon stock in the history Of the COM
nany. The net income of $3,600.000
was correspondingly, the largest in
the company's history.
The balance for common stock and
share earnings for 1919 was $685.
6S2 and s1.43, respectively, while the
same for 1921 was s2,937,732 and 1892.
The total gross revenue for 1922
was s1s.oos,444. compared with s1s.-
o24.S67 for 1921, an increase of $685.
os7. Operating expenses for the year
were s12.4Ss.ss1. and in 1921 s12.4o5.-
'2s. showing an increase of sss.sS3.
Freight Tranic Gains.
More than 80 per cent Of the freight
tonnage OF the road consists Of min
eral products, practically all OF which
is coal. Compared with 1921. the
revenue tonnage Of bituminous coal
hauled over the road during the past
year shows an increase Of betw cen
seven and eight hundred thousand
tons.
SION has granted the request made
asst August by the company for r.
change in dividend rate from per
cent to per cent. On July /. 1922.
cumulative dividends on preferred
stock amounted to $50. a share, or
SS,3S6,550. Be- >usa of the increased
dividend rate the common stockhold-
ers Will be able to share in earnings
Serred stockholders surrendered their
claim upon accumulated unpaid divi-
ed rate
It was announced that the company
mas let contracts for the new s3.o00,-
900 pier at Norfolk. Work has already
begun and will be pushed rapidly
through the year.
Growth OF District Banks.
Total resources OF the banking in
stitutions in the District under tho
supervision OF the controller OF the
currency as announced in yesterdays
o:30 edition of The Star, increased
s22.7oo,000 in the calendar year 1922,
according to statement given out
by Controller Crissonger.
An increase of S7,S25, 900 was also shown
during the period from September 10 to
the close OF busin ess December %. 1922.
Mr. Crissinger said. The fifty banking
institutions reporting to the controller
Of the currency whose reports were
made public today are exclusive or
twenty-three building and loan asso-
cations which are required to sub
init reports semi-annually.
Included in tho number of report
ng banks were fourteen national
banks, seven loan and trust com
panies and twenty-nine savings
banks.
The aggregate resources of these
panks, December, %, 1922, were $247,-
2,Cp0, divided as follows: National
n a. 1n2 nd Srtt
companies. sS6S60, 900, and savings
banks, s3S.216,000.
Loans and Discounts.
Loans and discounts amounting TO
sl33,642, 900 show an increase since
september IS of $4,000 900 and an in
crease during the year OF s12,455,00
Loans and discounts of national banks
were s65.463, 600: Of loan and trust
companies. s47396,0o0, and of saw
.ngs banks, S20,7S4000
Total investments Of these banks in
government and other miscellaneous
'onds, stocks and securities aggre-
gated s5s,4Ss.ooo. The increase in
total inveStm ents since September 1b,
1922. was s1,28s.000. and since Decem
Der 81, 1921, s5,46O,000.
The combined capital stock Of these
banks on December 20, 1922. was S21.-
'ember 15, 1922, and an increase DUR
.ng the year of S720.000.
The capital stock OF national banks
at the close of business 1922 was
s7,777.o00; of trust companies. Sill
100000. and Of savings banks. S2,812,-
900. Surplus and undivided profits of
all banks In the District of Columbia
December 90, 1922, were Si9,5S7,0 900
and show increases of $4,000 and
s1,7t9,000 since September IS, 1922,
and December 81, 1921, respectively.
Total Cash in Vaults.
20. 1929, amounted to s5.ss1.0oo, an
increase over September Is. 1922, Of
s5S7,0o0 and an increase since De-
cember 81, 1921, Of s691,000.
Total deposits Of the reporting
banks as of December 90, 1922, were
s1S9,276,000, and show an increase
since September Is. 1922, of s9ss.oo0
and since December 81. 1921. an in
crease of s1s524,0oo. OF the total de-
Ito s177.363.00O: bank balances were
s10,77S.000. and the balance were
United States deposits. Individual
deposits between September Is and
December % of last year show an in
crease Of $945,000 and an increase for
the whole of last year of S17,5I6.000. !
Liabilities Of these banks for bills
payable at the close of business last
year amounted to s7,707,O00 and were
SS.444,o00 greater than on September
the amount at the close of business
in 1921.
Large Incrense in Deposits.
Officials of the Riggs National Bank
are highly gratfied at the progress
made by the Park Road branch of the
institution in the six weeks, or since
The new building was opened at the
corner of 14th street and Park road
Deposits have increased during that
lime by more than 100000 and
Joshua Evans. jr, vice president. said
today that the business done was far
N excess of what had been expected
in so short a time.
Dean, Onntivia & Co. Expands.
Dean, Onativia & Co. have estab-
Lshed an investment department In
the Washington branch Office in the
Woodward building with Hugh Web
ster in charge. Mr.. Webster is said
to have had long experience in the in
vestment field, and Is said to be es-
pecially equipped to advise potential
Investors. He was educated at the
University of California, and has been
, resident of the District for the last
ten. years.
, The Washington office of Dean,
Onativia & Co. has direct wire service
with New York, Chicago and other
;enters. 1t is the purpose of the new
department to make more readily
available to clients information rela-
i've to call classes Of securities and