Evening star., 1923-06-28
BANKS TO D|SBURSE
DIVIDENDS MONDAY
Three Will Pay Out Total of
$39, ,500-Pepco Earnings
for May-LocaI Notes.

Stockholders of three local banks
Will be gladdened to the extent of
$39,500 on Monday next, when divi-
dends for the first half year. and in
one instance for the second quarter,
. will be received.
Late this afternoon directors of the
Columbia National will order a quar-
! terly dividend of per cent. payable
on July to stockholders of record
June 80. The Columbia has been on
a definite annual rate of IL per cent
for several years. and If its present
rate of progress can be taken as d
criterion any change in dividend dis
bursements will be made on an in
creasing scale rather than otherwise.
This institution has. at the present
time. deposits of s2.750,000, as against
s2,37o.000 year ago. The peak was
reached several months ago, when
the deposit line aggregated $3,o9l,00O.
1t is capitalized at $250:00o, has
surplus account of s250.OOO, and un-
divided profits Of $4,000: James a.
Messer is president. and Frank J.
Stryker is vice president and cashier,
as well as active head.
The Second National Bank, In ad-
dition to declaring their regular
semi annual dividend of per cent.
! has ordered the payment of an extra
L
| to stockholders of record June 20.
This bank has a capital of 100000.
surplus of $2S5.O00 and undivided
| profits of S105.S61. 1t is ofticered by
Victor B. Deyber, president. and w.
w. Marlowe, cashier.
/ Likewise the Lincoln National Bank
| has declared its regular semi-an
| nual dividend Of per cent, payable
on July to stockholders of record
June rs. 1t has capital stock out M
Cf ndi IN fhA fyYf nf
| surplus and net profits Of $4S3.404,
| and deposits approximating s5.750,000.
/ Floyd Z. Davis is the president Off
| Ger and Albert S. Galley vice presi
| dent and cashier.
Pepco May Earnings Up.
An increase in earnings of the Po-
| tomac Electric Power Company for
! the month of May as against the cor
| responding period of last year, offset
| by a decline on the part OF Washing
| ton Railway and Electric Company
! for the same month, was shown in the
| months statement of earnings FLED
with the Public Utilities Commission.
! The power company earned S9l,935
/ during the past calendar month,
1 which compares with $S3.502 in May
! a year ago. On the other hand, the
| carrier reports net income of $780,
8Sl, as against earnings Of $199,391
| during the corresponding month of
last year. OF the past months in
come the sum Of s158,028 was on ac-
| count of interest and dividends from
| the Potomac Electric Power Company,
! which is owned by the street railway.
The subsidiary lines of the Wash
| ington Railway and Electric Company
1 report for the month as follows: City
and Suburban, $19,403; Georgetown and
Tennallytown, deficit of $1.29S, and
! Washington Interurban. deficit of
s1,205.
! Wadsworth Likely to Get Post.
| 1t is regarded as a certainty in
| official Treasury circles that Assistant
Secretary Eliot Wadsworth Of New
York will be promoted to the post
which will be made vacant on Sep
| tember 1, when the resignation of
Spencer P. Gilbert takes effect.
b. & o. Earnings Gain.
The net railway operating income
| of the Baltimore and Ohio Railroad
| Company for May, 1923, amounted to
| S4.297.7S3, an increase Of sl,792.6SS
over the corresponding month of last
year. Revenues amounted to S23.609,-
S43, expenses to S1S.023.SS5 and total
! deductions to S1.2SS.T83.
| For the fve-month period OF the
| calendar year the company has an
operating income of s1S,s21,31s. an
increase of s6,907,355 over the CORE
spending five months of last year
Decline I'm Bank Loans.
| Loans Of reporting member banks
in principal cities declined Sis, ZOO. 600
| between May 16 and June IS. Bank
holdings of government securities in
creased over 500, 900, 900 in connection
with Treasury transactions of May Is,
| but later declined as securities were
distributed by banks. These decreases
| in loans were accompanied by receipt
during May Of $45,000,000 in gold from
abroad.
Would Change Name.
| John H. Puelicher, president of the
American Bankers Associa ton. is in
! favor Of taking the word banker"
| out of the title Of the organization.
| because. he says. the association Is
not aimed to advance the cause of
f.! bankers as opposed to, or even as dis
| tinguished from, other units of Amer
lean life. 1t is working solely to ad-
vance the welfare of America, TO
benefit all Americans. In benefited
America will be found the highest
benefit for bankers" he says.
! Railway Common Drops.
! Washington Railway and Electric
! common stock dropped to 81 on sales
f! of foLr shares in the dullest session
| of the month this morning. 1t closed
weak, with 661a bid and 20 asked.
! Other sales included 40 Gas Light
| at 48, $4,000 Capital Traction 5s at
! s6k and SO. and $1,000 metropolitan
| railroad SIS at 81.
Plans Outing fin Maine.
| Edward ]. Stellwagen, president Of
| the Union Trust Company, will
shortly leave for his annual vacation
| at Poland Springs, Me.