Evening star., 1925-06-02
LINCOLN NATIONAL
CUTS STOCK MELON
33 1-3 Per Cent DiSburse-
ment Paid as of June |.
Essay Winners Named.
BY CHAS. p. SHAEFFER.

The Lincoln National Bank has de-
clared q stock dividend of 80 1-3 per
cent, payable to shareholders of June
l, 1925. The disbursement, approved
by stockholders at d special meeting
some months ago, grants one addi-
t1onal share for every three certificates
now held. Holdings of the bank
stock in other than multiples of three.
necessitating fractional shares, have
been adjusted into full units on the
basis of $3.50 a share
Undivided profits of the institution
have been depleted to the extent of
800 900 to provide for the new stock,
leaving balance of S158,52O, exclusive
of earnings for the first five months
of this year. The capital stock ac-
count now totals $500 900, with a sur
plus fund of $500, 900.
Approval of the dividend has been
given by the controller of the cur
rency.
The uptown branch of the Lincoln
National, located at Seventeenth and
RI streets northwest, is one year old
today. The institution is appropriately
decorated, and floral and other trib-
utes are being distributed with Law
ish hand.
Growth of the branch has been
gratifying during the last II months.
w. NICK Stowell, assistant cashier
and manager, asserts. During that
period more than 1900 new accounts,
| both saving and commercial, aggre-
eating $603, 900, have been opened. A
souvenir booklet Land Value and
Value of Good Will" prepared for the
| occasion, states the ground at the
| present site sold for 10 cents a foot
in 1920. but Today commands the al
most unbelievable sum of $50 foot.
Essay Winners Announced.
Victor IS. Deyber, president of the
| District Bankers Association, an
nounced this morning that Hubert T.
Bisselle of Riggs, William VI. Seay OF
the Federal-American and Ross E.
Pollock of the American Security &
| Trust Co. would accompany the asso-
citation as its guests on the annual con-
vention to Hot Springs the latter part
of this month, their reward for hav-
/ ing submitted the best banking essays
| in the annual contest.
The subject chosen for this year s
/ competition was Opportunities for
| Employees to Get New Business and
| Create Good Will for the Bank The
| committee of judges TO select the win
| ners consisted of John b. Larner of
| the American Security & Trust Co.,
H. H. Mckee, president of the National
Capital Bank, and Walter II. kIopfer
|
| While the reward to winning con-
testants is sufficiently attractive to in
! duce their best efforts, the varied con
| structiVe thoughts brought out by the
papers and later adopted by many
banks in this city will well repay them
| for the comparatively small expense
incurred in entertaining the prize
winning authors.
| Trading on Local Board
Security levels were firm but un-
changed on the local board this morn
ing.
Commercial National Bank stool;
sold at its high level, 20 shares
changing hands at 1601z and 16l,
while Railway preferred was firm al
SO on sales of III shares. Capital
Traction was pegged at 952s, and
! Washington Gas eased off fractional
| ly to 5S on odd-lot sales.
Fewer Failures in May.
r. G. Dun & Co, calculates the
country's commercial failures in May
at 1851, with liabilities of S37,026 80,
compared with 1888 in April, and in
debtedness of $37.1SS,622. In May
last year the total was 1876, involY.
ing S36,5so,so5.
New Directorate Named.
Columbia Phonograph Co., Inc,
has elected the following directorate
for the ensuing year: George r.
Baker, Mortimer \. BuCkner, George
L. Burr, Henry {. Cox, William Z.
Dickerman, William c. Fuhri, Fred
w. Shibley, Louis Sterling, II. Mercer
Walker and Horatio L. Nhitridge.
| Officers of the company, also re
Gently named, are: Louis Sterling,
chairman OF the board; II. c. Cox,
president; w. &. F'uhri, vice president
r. j. Ames, secretary and treasurer
and T. Allan Laurie. assistant secre
tary and assistant treasurer.
/. c. &. Note Approval Asked.
| The Southern Pacific Co. asked the
Interstate Commerce Commission 10
day to approve an issue OF $40, ,49l .0Ut
in equipment trust certificates tt
finance a purchase of S15,000,000 in
new rolling stock. The carrier plans
to obtain 43 locomotives, about 4,5o(
freight cars and miscellaneous other
| eQuipmenI.