Evening star., 1923-06-20
SECURITY SAVINGS
DECLARES EXTRA
Fall Convention Committees
Named-LoCaI Stocks
Quiet-0ther Notes.

Directors of the Security Savings ard
Commercial Bank this morning declared
an extra dividend of l per cent on the
| capital stock of the institution, in addi- !
| tion to the regular quarterly disburse-
ment OF per cent. both payable on June
| so to stockholders of record June ..
| The Security Savings and Commercial
| is now definitely on All annual basis OF
l6 per cent, the current melons" hav-
| ing been declared regularly for the past
seven quarters 1t is the largest saw
! ings bank in the local field and is capi-
talzed at 100000 with surplus of $780,
! 900 and undivided profits in excess OF
F.. s65 900. It's affairs are ably admlus-
tered by Julius I Peyser. president. ard
| Francis e. Addison, vice president ard
cashier.
Convention Committees Named.
Preliminary plans for the reception
| of delegates attending The annual
| convention of the American Invest
ment Bankers Association to be held
/ here this fall assumed first definite
! ness today with the announcement
| of the various committees appointed
| to carry out the work. The appoint
ments were made by Harry V Haynes
| who has the affair in charge.
Robert V. Fleming heads the
| finance company and is assisted by
| Henry X. d. Peachy, local representa-
tive of Brooke. stokes and Company.
| Richard w. Hynson. National City
| Company. Will have the hotel commit
! tee in charge. and will be aided by
Francis q. Addison. jr
George q. Watson has been named
to care for the entertainment end os
| the program, while w. J. Waller is
| also found on this body. Joshua
Evans. jr., will head the receiving
group and will have as his aide Cor
coran Thorn of the American See1r-
! ity and Trust Company.
Eugene +. Thompson is selected for
! the important post of chairman of the
| banquet committee. and will share
these duties with Thomas W Bra,
the publicity, aided by Charles I.
! Howe.
| For the transportation committee
! Victor B. Deyher has been selected
to head this body, having as his as
J sistant r. D. Angel Donald Mcknew
heads the badge committee. these
duties being shared by Boyd Taylor.
! For the golf tournament. which will
| be held for the delegates. Robert
! Stead. jr.. has been named chairman.
! having A. S. Gardiner as his assist
! ant. Charles P. Light OF the National
! City Company will corral the neces-
! sary automobiles for the convention
aided in this work by Albert s. Galley.
Early Tax Reduction Unlikely.
! President Harding's estimate of
/ surplus of 5000. 600 900 at the close o.
| the fiscal year. June 80. is not basel
! tax receipts. Tho surplus is largsI-
| made up Of receipts from the sales
| of war mater:t'a. and does not fur
| nish basis for estimating the bal
| ance between 0'lnarY receipts an !
! expenditures II the government. ,
| Encouraging as the statement Is
! it is not considered as warranting a.
| early reduction in federal taxes, in
| the opinion of w. B. Hibbs G. Co.
Bankers start Tonight.
Approximately 200 local bankers
their wives. directors. friends ami
cial'' at O'Clock tonight for Hot
| Springs. Va. the scene of their fifth
annual convention. which is sched-s
uled to begin tomorrow morning
| While the usual quota of important
| financial topics VIII he discussed an
| entertainment procram de luxe has
| been arranged by W. W. Spaid which
promises to pleaS.ng1y occupy every
| available moment This will take the
| form of tennis and golf tournaments.
| afternoon teas. card parties and f.
| nally family dinner"
| Reservations for the trip have been
admirably handled by Fernand Petit
| chairman of the hotel and transporta-
| tion committee.
| Insurance Firm so Years Old.
| The American Fire Insurance Com
pany formerly known as the German
American Fire Insurance Company Is
fifty years old today. Charles Schafer
is president. F. 4. Blundon. vice presi-
dent. and II. II. BerEmann is secretary.
| Directors of the Northeast Savings
Bank have increased the semi-ar-
nual dividend from 3 to per
cent putting the stock on an S per
cent annual basis.
The bank is capitalized al 500 nn0.
| with surplus and undivided profits IF
100000. 1t has enjoyed a steady and
substantial growth. and shows total
| resources in excess of $l,10o0G0
Capital Traction at 90.
Capital Traction stock made
slight recovery to 90 on the Wash
ington Stock Exchange this morning
on sales aggT egating twenty shares,
but Gas stock was again weak ar
unchanged prices.
Trading was decidedly light. Gas
SIS sold at 931 IL. the 71a per cent issue
at 103. and one share of Railway
preferred concluded the trading at 10.
I