Evening star., 1924-12-12
SAVINGS BANKS ADD
/. TO SURPLUS FUNDS
More Dividends Voted-NeW
High Record Made on
Local Board.
By CHAs. p. sHAEFFER.


Additions to the surplus account of
two local savings banks, announced
TINS morning, furnish further evidence
or the prosperity enjoyed by this class
OF institution during the present
calendar year.
The United States Savings directors
nave ordered the transfer of $4,000
to surplus. and directors OF the Ana
costa Bank have ordered similar
| transfer of $4,000. Both these In
| stitutions are honor banks" which
| mean they have a surplus equal to or
| In excess of capital
The United States Savings Is 100000
with surplus of $150,000. while the
| Anacostia has 900 capitalization
| and $65, 1000 of surplus
| The former institution, loca ted at
Fourteenth and u streets northwest,
| also declared the regular quarterly
| dividend of 7h per cent, payable to
stockholders of record on December
81. while the Anacostia Bank declared
| It's regular semi-annual dividend Of
per cent, payable on January to
stock of record December 81. The
| united States Savings is the largest
| dividend payer among local banks,
being on 80 per cent annual basis.
| The Farmers and Mechanics Ma
| tional Bank also announces declara-
tion Of theip regular dividend Of 81
!
| stock Of record December IS.
| Initial Dividend Declared.
| Directors of the National Mortgage
and Investment Corporation have de-
| clared an initial dividend of l per
! cent on the common stock issued and
outstanding in addition to the reg
! ular semi-annuaI dividend of per
| cent on the preferred stock Both
| are payable on January / 20 stock OF
| record December 90
| The corporation reported an oper-
/ ating capital of s3.791 900 at the close
OF business December last, Of which
$560,Ss6 Is surplus and in reserve.
| II. Rozier Dulaney is chairman OF
| the directorate, while the corporation
Is officered by the following: Georgc
| E. Walker, president; Frank J.
| Hughes, vice president and genera
| manager; William d. West, treasure.
and Col. Marvyn c. Buckley. secre-
| tary.
New Records on Exchange.
Two Washington bank stocks es-
| tablished new all-time high record
| on the Washington stock exchange
today when one of the most activ.
and diversified sessions of the yea:
was held
American Security and Trust Co.
stock enjoyed an initial sale of two
shares at 306. but thereafter eased
| on to 305k on subsequent sales of
! 10 shares. The highest previous
| price for this issue was 3o5
Stock OF the Columbia National
Bank. hereto fore publicly inactive
during 1924, today sold at 2e5 to the
extent of five shares. Prior to the
advent of Frank J. Stryker as active
head but a relatively short time
ago. which coincidently began the
| revitalization of this old established
| institution. the stock was bought
privately at ranges between 215 and
! 225. At the close of today's session
go was bid" with 300 asked
| The tenor of today's market was
! decidedly firm. Gas Light stocl,
brought 53B, later easing off to !.
on sales of 200 shares, and 100
shares of Railway preferred sold at
7sA. National Mortgage preferred
| sold to the extent of 40 shares a;
s]a and 9ss, and S5 shares of Lam
ston brought IS.
investment trading was confined
to local utility bonds at strong but
unchanged prices.
Banker Sees Prosperity.
General confidence in the soun5-
ness of business conditions of H..
country and the outlook for expand
ing prosperity was expressed by Will
ham z. Know, president of the
american Bankers Association, I'm a
statement last night summarizing the
views of bankers attending a meet
ing here of the associations admin
1strative committee
particularly encouraging sign
said Mr.. Knox. .'is that they find thjs
| spirit of optimism is tempered bv an
attitude of judicious caution. TIL
! lessons of other periods of business
expansion. which finally became dom
mated by speculation resulting in in
! eVltaole collapse, have not been for
gotten.
! IF this attitude continues, We msv
LOOK for sustained era of well dis
| trlouted prosperity, which will bene-
! Mt all classes in our country Tho
bankers, for their part are commit
! ted to exert their influence on thc
side of sound, orderly business and
| industrial progress"
| Class Elects Omcers,
| The banking fundamentals class NJ
| the American Institute of Rankin
held an election of officers for tho
ensuing year last night. resulting in
the Following: President, Robert
| fiather' vice president, Jeffries
Chewning, jr.: secretary, Robert g
! Whitton; assistant secretary, William,
Roberts: treasurer, John H. Mclean
and publicity manager, Edwin HI. Con
nick.
1