Evening star., 1923-06-18
COMMERCE BANK
VOTES DIVIDEND
Treasury Issue Allotted.
New Bond 0ffering-Locat
Financial Notes.

The Bank of Commerce and Savings
has declared the regular semi-an-
nual dividend of 4 per cent. payable
on July TO TO stockholders Of record
June 20. The institution is or a
definite per cent annual bass,
having maintained the current dIs-
bursement for the past three years.
John NJ. Riordon, cashier of the
pank, reports deposits at their peitL.
while the surplus and undivided
profits are in excess of the institu-
tions capital. $1O8.000 and 500. 100
respectively. Deposits total appro1r-
mately $1.405,0o0
Security Listing Planned.
Application for listing the stock
and bonded indebtedness If the
Washington Auditorium Corporation
on the local stock exchange viii he
made in the near future, Col Robert
y. Harper. prime mover in the cree
ton of the new building. SAID this
morning.
The Indebtedness consists of $500 GOO
OF capital stock and a like amount oe
twenty-year s per cent first mortgage
bonds.
Treasury Notes Allotted
nounced that $lS9.S33.5Oo in suLscrip-
tions TO the new issue OF per cent
SlX-month Treasury certificates %
indebtedness. dated June -. 1879 had
been allotted out of Il total oF sub
scliptions received amounting 10
$342.462 500
Out of those allotted $3s.&43.oo0
represent those on subscriptions for
which certificates maturing June fB,
1923, were rendered in payment Ali
exchange subscriptions were allotted
in full.
Washington banking institutions
and others in the fifth federal reserve
district Jared exceedingly well in the
! apporttonment of the issue, recet~ug
s5,oS5.500 on subscriptions Of sS,4is.>,
300 or trifle over - per cent.
New Bond Offerings.
The local office OF the National CITY
Company, in conjunction with that o.
Harris, Forbes and Company, is today
offering for public subscription
Sl,O50,ooo Of Toledo Edison Company
| nrSt mortgage per cent gold bonds
due March I, l947
The issue is being sold AZ 81 -
yield about so per cent. II is cal,
able at 1927 and interest on SEPT
ember ], 1928. and thereafter on anv
interest date on four weeks notice.
Interest is payable on March l and
september ].
Make Reception Plans
The local executive committee Of
the Investment Bankers Association
! is meeting this afternoon at tn.
Washington Stock Exchange for tho
purpose OF formulating plans for the
reception to be rendered the national
body. when they meet in annual con-
vention in this city in October.
Owing to the growing importance
a ~ inv ff,,s.
ter. the pending convention is eX-
pected to be productive of progres-
sire measures. which will aid mateg-
rally in safeguarding the investing
public.
Adopts Closing Plan.
The Exchange Bank Of Washington
has Joined the ranks Of those institu-
tionS dispensing with Saturday even =
ing hours during the summer months.
Beginning with the first Saturday
in July and continuing through the
first Saturday in September. this bank
will close for the week at noon
Bank Workers on Outing.
The regular monthly picnic Or .he
Federal American Club. the social or
ganiZation of the deral-American
| National Bank. was held at Scotland
Beach. Md, Saturday evening until
last night.
The delegation included Bank Of
ficers Waller. Lyddane and Mitchell.
Local Stocks Quiet.
The week opened inauspiciously ON
the Washington Stock Exchange this
morning, only A minimum amount Of
business being transacted at weah
ened prices. Last weeks leaders were
inactive.
stock of the Capital Traction Com
pany eased off to 9Si- on sales aG-
gregatinE forty shares. and WASH
ington Gas was weak at 4S3.. Ameri-
can Security and Trust Company sold
al %12. and Continental Trust was un-
changed at 90
On the bond side. Gas IS brought
95i2. Traction 5s, 96a4, {. and T. Tele-
phone 5s. 97i2. and Pepco first IS the
same.