Evening star., 1924-01-15
TRUST COMPANY HAS
EXTRA GOOD YEAR
American Security Reports Net
Profits of $e5e, ,72o-s4s,ooo
Gain Over 1922.
FARM LOAN BONDS SOLD
More Local Concerns Hold Annual
Elections.

LlcCIiOuS.
Net profits of the American Secur-
lty and Trust Company during 1928
amounted to ss5s,720s3. an excess Of
more than $4,000 over last year.
Charles ]. Bell. president of the in
stitution, told stockholders at their
annual meeting today at noon. Gross
profits. after deducting the amount
reserved to pay interest on deposits.
amounted to $l,434,o07.60, and ex
penses totaled $774.zS667.
Departmental reports for the yea
show gratifying increase in the
company's business. both in the vol
ume and the net results therefrom,
Mr.. Bell said. Deposits increased more
than s1.160000. while investments
heio by the company in various trust
capacities show an Increase of more
than s13.G00.0oo for the period.
The sum Of 21,478.S6 was charged
70 prof1t and loss as depreciation on
buildings. vaults, fixtures and equip
ment, while the sum of $l5.5s2. Sc was
distributed among the members OF
the stan, other than the president.
as additional compensation for the
year.
Four quarterly dividends of per
cent each and two extra disburse-
to the sum of s5l0,00o being l5 per
cent of the capital stock was paid
out of net earnings for the year and
s14s,72o.93 added to undivided profits
The The capital stock Of the American
100000. with surplus of $2,4Oo,n00
and undivided profits of s42o,2S2. De
posits amount to s25,71S,S7S.
The following directors were re-
ton to Harry K. Boss of Boss 4
Phelps, who was named to fill an eX-
wall. Charles J. Bell. John c. Boyd,
George W. Brown, Albert Carry. VIII
William W. Everett William J. Fla
ther. jr.; NJ G. Gibbs. Cary T. Gray
son. James NJ. Green, Gilbert Fl. Gros-
venor. J. Philip Hermann. Joseph
Letter, G. Percy McGlue, Edward e.
Norment. Newbold Noyes. Howard S.
Reeside. B. F. Saul. William E. Shan
non, James F. Shea. Charles A. Spald
ing, Corcoran Thom and John +. Will
kins "
Spaid Writes on Wall street.
The Star is indebted TO w. w. Spaid,
partner of w. B. Hibbs. for an edi-
tion of Managing Your Brokerage
Account" written by him. which is
included in a series OF eight small
books by as many different authors,
on principles of speculation and in
restment being offered the public by
a nationally known publisher.
In managing Your Brokerage Ac-
count" Mr.. Spaid vfvidly sets forth
Wall streets work. gives the history
of the New York Stock Exchange, dis
cusses present-day brokerage service.
explains the execution and compile
ton of orders and concludes with
valuable tips on cooperation with
your broker.
Elect directors for Year.
The District Title Insurance Com
pany. the Lawyers Title Insurance
Company and the Washington Title
Insurance Company have all held
their meetings for election of direc-
tors. The District company named
the following: Charles G. Allen, Ar
thur G. Bishop. Joshua w. Carr, Ed
mond D. Rheem. Charles w. Stetson,
Joseph y. Saunders. Harry NJ. Pack
ard. Alfred Fl. Lawson. George II
A. Smith. Joseph I. Weller. H. L. Rust
ir.. and William NJ. Hallam.
The following were named to direct
the lawyers concern for the ensuing
year: George NJ. Emmerich' Charles
Kindle. Clarence F. Donohoe. Arthur
g Bishop, George H. OConnor,
Joseph \. Saunders. Charles W. Stet-
son. Eugene A Smith, Ernest L.
Schmidt, Harry NJ. Packard. Charles
H. Bauman., John shugrue; julius a.
The Washington Title Insurance COM
pany elected as follows: Arthur 9.
Bishop. William T. GalIiher, George r
Hane. Charles w stets1n, Josepn s,I rsrH. ~
Saunders Harry M Paekard' pSsins snrTe e1arense
O'Connor. B. Francis Saul. Ernest l.
schmidt. Eugene A. Smith. Fred Nc
kee and William NJ Hallam.
Fred Mckee, vice president and tltle
officer of the companies for the IasS
eI.~ n resigned.
TODAY takes up his duties as vice
president of the Security Savings and
Commercial Bank, and as vice presi-
dent of the newly formed security
Corporation of the District or Colum-
bia.
Farm Loan Bonds Quickly Sold.
Subscription books on the $60.oOo,-
900 Federal Lank Bank 4A per cent
bonds were closed yesterday and all
bonds have been sold. The quick sale
of an issue of this size is taken as an
excellent indication or the large
amount of funds available for invest
ment at this time in high-eraoe Sc
curities. The issue was offered by
nationwide selling group of banking
houses The bankers report that puy-
ing did not come from any particular
class of investors, although institu-
tions. took the largest blocks.
Stock Increase HrOpOsed.
The Merchants Transfer and Stor-
age Company proposes an increase OF
from $5o0,o to s1.000.o80 to its cap
itaI stock. according to letter from
John L. Newbold, president of the
corporation. The contemplated In
crease is to provide for additional
warehouse facilities
A special meeting of stockholders
has been called for January rs to
vote on the proposition.
Trading on Locnl Exchange.
A slight rise on the part OF Rail
way preferred stock was the only
noteworthy development on the
Washington Stock Exchange this
morning. The issue was strong at
the opening. selling at rs. and closed
u higher, on sales aggregating IA
shares Railway common brought
7O1s, but Capital Traction stock ca sed
off to 94as at the close. Other issues
were unchanged.
q