Evening star., 1924-01-07
GUARANTY COMPANY
SENDS OUT DIVIDENDS
Recently Organized Firm Makes
It's First Disbursement to
Stockholders.
NEW COMPANY IN BERwYN
Bank Deposits in Washington Are
Disappointing.

The Real Estate Mortgage and
Guaranty Corporation. which was or
ganized July Is last. sent out It's ars.
Isemi-annual dividend checks to its
Fsteckholders today, The semi annual
per cent cumulative interest was
paid on the. per cent preferred stock
and also per cent dividend on the
jcomnIen stock to- It's stockholders Of
record as OF December 81, 1923.
The annual report shows prosper
| GUS condition. the total assets
amounting to about $4,000: the dis.
business December 81: 1893. $4,000.
| Berwya's New Investment Ftrra.
| The Rerwyn Investment Company,
With sIbo90e; capitalization, has been
organized and Is now dealing In real
estate trust paper: on properties located
~ the suburban section OF Maryland
The company vas organized Under
ths laws or Delaware and will main
| tain an Office: in Wilmington In addi-
tion 70 the one at gerwyn.
IN -; MAY Is President OF the new
1 company, and ts assisted by DR.. A.
y. tt!enne and Henry J. Bierman, re-
spective vice presidents; G. P: Bick-
| tord. secretary-treasurer and Arthur
nsiar iheeterr attorney. The directorate
liam A.tchison. Z. j., Wilhqite, John
Mcdonnell and Ralph e.. Potter.
The purpose OF the new company is
70 meet needs of construction prof.
ects In Maryland to, which the ma
| Jority or District agencies are averee
dus TO restriction OF interest rates in
Warming on spSrious Note.
The Treasury Department 10 send.
fak ont warning against q counter
LEI. 90 Federal Reserve note on the
This counterfeit Is apparently
printed from photomechantcal plates
os,r os amssteurish s workmanEhip. The
Imitation. of silk. The portrait OF
Ansotn is too dark, and 10 blotohed
WIN white spots. The seal 10 green
broEen and 9r poery sas ssse re. Ts.k Is
tering OF the Latin inscription In the
CIRCLE of the seal is very poorly done.
and The hnal q" In the word ''.,sisii''
The counterfeit 10 readily detected
oy the portrait OF Lincoln.
l.. McLaehlen Portrait In Bank.
A remarkable likeness OF the tate
fArchinaid M McLachlen. executed By
FRANKLIN .: Clark. has been presented
tby the widow Of the deceased - 1''oA
Mr.: McLachlen founded the Nc
tLachien Banking Corporation, and his
painting has been fttingly hung in
.ne once OF the tnstitution's presi-
lyears.
Company Votes DIVIDEND.
The regular dividend and a stock
idisbursenent OF SO per cent has been
aseiared oy the MARYLAND Home Title
HvaIt.ntils e0ampMany; con successors to
ipapy, president o. B. zantzinger an.
}nounced this morning
Officers elected for the ensuing year
eompriss o 3: .zantztnger. president;
! FREDERICK Sasscer and DIR. Charles A
Wells. vice presidents: T. Van CIagett,
treasurer. and 8. Marvin Peach. sec
irstary. These officers, together with
moro BeaH. constitute the directorate
Treasury Financing PIans.
| Unless market conditions shape ur
1ayorably Tor a rong-terra loan. the
Treasury Departments borrowings
this year are expected to be limited
Icertiflcates OF debtedness in antici-
patton OF TAX payments. Adoption of
| the tax reduction program may. how
ever, lead to the Inauguration OF d
new financial policy.
The twelve federal land banks are
| expected to come into the market. for
$4,000, ,00Q& to $zs,00e,000 within the
next two months. Bankers believe
that they Eni be able to borrow at
sion. of their last loan.
Union Trust Directors to Meet.
Directors of the Union Trust Com
pany win hold preliminary meeting
! late this afternoon for the purpose OF
preparing their annual statement to
stockhelders tomorrow.
perous year. having maintained its
regular per cent annual dtsburse-
n1ent.r in addition to extra dividends
of per cent At the same time the
increased 70 the extent. of approx
msteiy $4,000. .s.est ~
Bank Deposits D1sappoiating.
| Local bankers generally complain
| that deposits hers are not keeping
pace with the increasing number of
/ depositors.
. satisfactory gains for the year. but
] this is reflected only in q nominal In
I crease, or no increase at ALL, in the
deposits as compared with the cor
In one instance an increase OF ISL
| depositors brought about . gain in
deposits OF but 100000; In another
an increase of 400 customers resulted
In loss Of approximately 100000 in
The. only answer apparently, is
| custonaers' aversion to idle money
| which has resulted In a<canusf year
to sellers Of securities. In this, the
| depositor. is aided by an unprsce-
dented number Of local saiesnaen who
thoroushly' conab the city
wHl Address Banking Glass.
| T.. J. MoQuades vice president of
| the Labtfty National Bank, Will lee
ture to the elementary bankings class
of Washington Chapter. Am ner,San IN
, stitute OF Banking. tomorrow night.
/. The subject OF Mrr McQuade's ad-
dress will be- The Federal Reserve
Systems, an Intricate and far.reach-
Ing topic which ts understood by but
a dtplorable few.
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