Evening star., 1924-06-13
REAL ESTATE FIRMS
EARNINGS, $148,50O
Mortgage and Guaranty Company
Stockholders Hear Annual
Report-Elect Officers.
MORE BANK DIVIDENDS
Treasury Loan Uversubscribed by
Big Sum-Stocks Quiet.
BY CHAs. p. SHAEFFER.


Mortgage and Guaranty Corporation
as of May 81. 1924, amounted to ST.
5Os,853.s9, with discounts, surplus and
earnings amounting to s14s,500.97,
stockholders were told at their an
nual meeting this morning.
AT the last monthly meeting of the
board, held recently, the second semi
annual dividend was declared on the
preferred stock at the rate of per
cent per annum, and a dividend Of .
per cent was declared on the common
issue at par.
Inc Following directors were re-
named for the ensuing year at to-
Gays meeting: L. T. Brueninger.
Henry L. Breuninger, Charles A.
carry, Fred Drew. It. c. Dulin. Frank
n. Edmonds, Edward c. Ernst. Hay-
gen Johnson, Sol Lansburgh. An
drew Loffier. Samuel Miller, william
muehleisen. r. L. Neuhauser. Horace
6. Smithy, Thomas SomerviIIe. Anton
Stephan, w. F. Sickle, Michael a
"eiler and Donald Woodward
I'm mediateiy afterward directors
net and organized for the year as
1olloWs: J.. e. Breuninger, president:
Ihomas Somerville and r. l.. Mem
hauser, vice presidents; Anton Stephan.
treasurer; W +. Sickle sncretarv
and Donaldson, johnson and Frailey,
counsel
Treasury Subscription 5000 OO0, ,OOO.
More than $500, 900, 900 was the
Total amount Of subscription 10 the
Ireasury's latest Offering closing
June II, of 2a per cent certificates
of Indebtedness for six months, datecl
June 15
This was announced last night Al
the Treasury, with the explanation
that some s125.00O.00o represent sub
scriptions for which Treasury certi-
ficates maturing June Is, 1924, or
Treasury notes maturing June Il,
1924. were rendered in payment. All
of these were allotted in full.
Allotments on other subscriptions.
a Treasury statement said, were
made, as follows:
Cash subscriptions in amounts not
exceeding $4,000 for any one sub
scriber were allotted so per cent;
cash subscriptions in amounts over
were allotted 40 per cent, but not
less than $4,000 on any one subscrip-
ton, and cash subscriptions in
amounts over sjo.009, but not ex-
ceeding 100000, were allotted 90 per
cent. but not less than $50, 900 on
any one subscription. No alIotment&
were made on cash subscriptions in
amounts exceeding 100000 for ant
one subscriber.
Local Banks Vote Dividends.
The board of directors of the Ana
costa Bank yesterday declared an
extra dividend of per cent in addi
tion to their regular semi-annual dis
bursement of per cent, both pay
able on July to stockholders OF
record June %.
The United States Savings Bank has
declared it's regular quarterly divi-
dend of 712 per cent, payable to
stockholders of record June go 1924.
The Farmers and Mechanics Ma
tional Bank has declared its regular
semi annual dividend of per cent.
payable on July l to stockholders Of
record June 26. This institution is
on a definite dividend basis of per
cent, but has paid an extra of per
making total disbursements of IL per
cent on the capital stock.
Hickman Home From Trip.
Thomas P. Hickman. vice president
of the Franklin National Bank, has
returned to Washington after vaca-
tioning at Fort Pierce and Miami,
Fla. SINCE the first of the month.
MIR. Hickman brings back with him
marvellous stories of his prowess as
fisherman
Hallway Seeks Bond Issue.
d
sought authority from the Interstat te
Commerce Commission to pledge S4.-
100000 of per cent fifty-year gold
bonds and Sl,500,000 of per cent
hfty-year gold bonds of the Virginian
and Western Railway to secure pay
ment to the National City Bank Of
New York for advances of 100000.
Washington Stocks Quict.
The Washington Stock Exchange
was more or less dormant this morn
ing. Railway preferred was strong
In In small volume. at 1874. with Capital
Traction unchanged at 93i. Forty
shares of National Mortgage and In
vestment preferred sold at ST.
Capital Traction 5s. $4,000 at 96s.
and $500 Washington Gas 6s at 101 4
We're the only bond transactions.
Mr.. Deyber's Problems Difficult.
One of the first and most important
problems that Victor b. Deyber.
newly elected president Of the Dis
trict of Columbia Bankers Association.
Will be called upon TO administer is the
question of charges for service rendered
customers by local banks
That Washington banking institu-
tions are not levying sufficient
charge was vividly shown by the re-
port of w. J. Waller submitted at
the annual convention last week,
who, by statistical data gathered
from a majority of the members.
-,
their entirety, left much to be de-
sired. The number of accounts, so
called ::unprofitable," which result in
an actual loss to the institution car
ry1ng them. was staggering and
was shown to represent only a neg
ligible percentage of the banks re-
sources
In a majority of cases these ac-
counts are carried absolutely free of
charge. the idea being assumed by
District banks that the question of
service charge uniform at 80 cents
a month, is optional with the insti-
tuition.
Spe eciaI Committee Likely.
This is the question that confronts
Mr.. Deyber In arriving St an agree
able solution ne is called upon to
either devise some means of institut-
ing a uniform service charge, ade
quate to cover this phase of banks
service to customers, and which will
be complied with, or. more preferable,
to devise some method whereby Gus
toners will be impressed with the
Importance and benefit to themselves
of building up and maintaining a
suitable balance.
In submitting the report W. j.
Waller made the suggestion that a
committee of eight be appointed. two
each from the various sections of the
local association. namely, national
bank, savings bank, state bank and
trust company, to 30 into the matter
thoroughly and make their recon-
mendations. This undoubtedly will
be done at the first meeting of the
association. tentatively scheduled for
the near future