Evening star., 1923-12-14
GEORGETOWN BANK
DECLARES DIVIDEND
Farmers and Mechanics
Makes Payment Jan
uary |.

Directors of the Farmers .r5 AZ.
chanics National Bank of coorc
town have declared their repuI.,
| seml-annual dividend OF per cent
payable on January /, 1924. to stock
holders of record December 26 -
was announced this morning. TIL.
institution is definitely on a - re-
cent annual basis, inasmuch as a.
extra of per cent has been main
tanned for approximately twenty-fiv.
years.
| The capital stock Of the bank
| Totals $252,000. with surplus or
Sz9o'oOo and undivided profits of ap
pro&imately 100000. Deposits have
SHOWN rising tendency throughout,
sne year and last night amounted toa
So,o4 t'o0o' thus prematurely surpass-
ing the goal of $3,OO0.OOO set for il G
year. a.
The The Farmers and Mechanics is Off
haynes, president; Robert d. Weaver,
wee president; u. l. Nicolson, vice
president: II. L. Selby. cashier; Henri!
W. Sohon. counsel and trust officerS
g T. Crop1ey and Harold w. Burn
side, assistant cashiers. and Ira "
hopkins, auditor. 1t only recentl<
constructed and moved into one O.
the handsomest homes in the city.
Lower Reserve Ratio.
The combined federal reserve ratio
Tor the entire system declined from
SO to S0.4 during the past week, the.
Federal Reserve Board announces. d
loss of more than S13,OOO,000 in tho
banks reserves through the goa
settlement fund, coupled with a gain.
OF more than $30.00O,000 in member
hanks reserve account deposits, &C
counted for the loss.
Local. the reserve ratio OF tie
fifth district. which embraces this
CITY dropped from 72.2 to 71.8 per
cent during the week. On Decempe'.
IL last year II stood at 7l.6.
Local Stock Trading.
Traders attention switched to pre-
ferred stock of the Washington Railk
way and Electric Company today ans
a total of 220 shares of this ISSUE.
changed hands at 7112, the hislH
level on the present movement. Come
mon mon was sold sparsely at 69i4 an1
Lanstcn Monotype brought 20. ants
a lew shares Of Washington GaA
Light sold at 4S1s and 49. Washing .
ton Gas 5s brought 931a
Dividends Announced.
The following dividends were an,
nounced from the floor of the Wash
ington Stock Exchange this morning:
semi-annual dividend of per
cent by the Lincoln National BanE.
payable on January 1, the transfer
! books closing from December 20 to
January 10, inclusive.
! A Semf-annual dividend of per
cent and an extra disbursement of
/ : per cent by the Columbia Title In
sufance Company, payable on Decen-
/ Der 81 to stockholders of record De
Cember 20.
/ A semi-annual dividend of per
cent and an extra" of per cent by
| the Real Estate Title Insurance Com
pany, payable December 81 to stock
, holders of record December 90
| Moody's Weekly Review.
| Moody's Weekly Review OF Financial
Conditions in its current issue says
| in part:
Business still waits more or less
upon politics. The British Labor
of the total membership of 615, while
the strength of the conservative party
is reduced to 260. Whether the con-
sequences will include an exodus of
| British capital remains to be seen.
The courageous conservatism of
President Coolidge and the popularity
Of the taX-cutting program represent
the good in our political situation.
Meanwhile the bad is repreSe nted by
| the almost unavoidable adherence Of
congressman to their bonus promises.
and by the favor with which even the
administration looks upon proposed
| reductions IN agricultural 1TelShl
! rates.
| Technically the stock market is
acting we'll. The average prices Of
stocks have gone higher than at any
| time since early June. and there is
| somewhat better supply of invest
ment funds. Interest rates are de-
! clining, and the large year-end dis
! bursements are beginning TO be a
! factor in the security markets"
New Railroad Records.
| The railroads of the United States
/ during the first ten months this year
! handled the greatest freight traffic in
their history. according to reports
filed today by the carriers with the
bureau of railway economics.
The traffic for that period amounted
to $50, 027, $4,000 net ton miles, an in
crease of 2-5 per cent over the cor
responding period of 1920, when
freight traffic amounted to 377.O25,-
100000 net ton miles, the previous
high record.
Compared with the first ten months
! last year the total for the same pc
riod in 1923 was an increase Of S4-
495. 4S6,000, or IS per cent. In making
this comparison, however, considera-
tion must be given to the fact that
freight traffic last year was affected
by the strikes of both the miners
which began on April i, and that OF
the railway shopmen, which began or
July /, both continuing until fall