The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-11-13
ANKSAGREE ON
AS=SAV|NG
CLUB PLAN
Offer OF Roxy Theater Stock.
News OF Washington's
s Street"
BY RICHARD HATTON

Washington banking institutions
maintaining Christmas savings clubs
have practically agreed upon a uni
form plan under which the clubs
viii be operated next year.
While several million dollars In
Christmas savings win be distrib-
uted az q result Of the operation OF
the clubs this year. there has not
been that uniformity of operation
which bankers deem desirable.
In the past the clubs have been
0ral banks and closed upon differ.
emit dates.
This year the banks have agreed
upon a uniform date and the clubs
win be open on Tuesday, December
I. with the last day for enrolment
set for Saturday, January 16.
10 IL believed that this will pro-
vide ample time for those desiring
70 Join the clubs in their several
banks.
An effort is also being made to
make the classes Of depositors prac-
tically the same in all banks. It is
the aim Of the banks to have the
clubs range from payments Of 81 a
week. which win pay the depositor
$50 At the end. OF the year, to the
$50 . week club, which viii yield
$1,000 at the end of the period, or
In time for Christmas 1926.
It Is OF interest !, to prospective
Christmas savings club depositors
% know that they will not be con-
fined to one class of club, but may
enter any, orsall. OF the classes pro-
vided by the banks.
9 Remarkable success has been
registered by the Christmas savings
clubs in the District Of Columbia
this year. and the banks are pre-
n4s.ng to pay over several million
dollars to those who have been
members of the clubs. Elaborate
and artistic posters are now being
prepared which will be used to
eumulate the public to membership
10 the clubs to be formed for 1926.
Roxy Theater Stock Offer
Mullilken 4 Roberts. Inc. and
Pope & Co., New York, and Crane.
Paris & Co, Washington, d. c., are
making q public offering TODAY OF
10000 shares OF Roxy Theaters Cor.
poration Participating Class A Stock
ae $40 per share, each three shares
OtsWhich VIII be accompanied by one
share Of common stock.
The stock Is preferred as to assets
and dividends and entitled upon
liquidation to $50 per share before
any distribution to common stock.
Dividends win accrue from De-
eembeF i. 1895. and are payable
quarterly. There will be an annual
sinking fund Of is per cent Of net
earnings after payment of the divi-
DENIS of $3.50 per share on the
-sr,-. 49, ;z,s,..t.,.. fS,,-,,c,.,4,,,,
win 0iFn ana operate the Roxy The
ater, now under construction at
Fiftietl1 street and Seventh avenue
New York city.
II VIII rank as the largest AMI
finest motion picture theater In the
world, seating 5000 persons and
providing unique accommodations
Cor 5000 additional patrons in =
spacious rotunda.
Mr.. Rothafel, president of the
corporation, who is popularity known
as Roxy" to radio enthusiasts, and
his associates estimate net earnings
annual dividend requirements Of the
Class A stock and indicate approx
mately. 81 per share available for
common stock dividends and Class A
stock participation, after providing
Tor the Class A stock sinking fund.
II Is the expectation of the directors
Of the corporation that dividends
on the Class A shares, will be in.
angtirated promptly after the open.
ing Of the Roxy. Theater. which, IL
n expected, will take place about
November I. 1925.