Evening star., 1925-06-25
FEDERAL-AMER|CAN
DECLARES DIVIDEND
Bank to Pay $3.50 Per Share
on July 1-U. S. Revenue
Collections Fall Off.

Ihe FEDERAL American National Bank
today declared it's regular quarterly
diVldend OF S2.50 per share, payable
July /. The bank has been growing
rapidly during the past six months,
according to officials. during which
period Its earnings are said to have
peen the best in it's history.
ne federal-American plans to move
INTO lts new building. Fourteenth and
streets, by November l, it was said
To-Day, provided no unforeseen delays
occur In the completion of the struc-
ture.
Revenue Collections Drop.
COLLECTIONS of Internal Revenue fell
Off by S247, ,365 1865 during the II.
month period ending May 81, 1926, as
compared with the same months in
tne previous fiscal year. it is an
nounced by the Bureau of Internal
Revenue. Collections this wear amoun1.
ed to 81 2,136,348, ,5O959.
income tax collections for the same
period amounted to S1,384 1922 .q5,
compared with S1,500,5S9 ,S61 for the
previous year, decrease of Sl16.-
24S,53S
Miscellaneous taxes for the II
months period ended May 81. 1928.
amounted to s152, ,007,186.64. compared
with 1888 l44.01 for the period
ended May 81, 1924, a decrease oc
s131,116, ,957.37.
The aggregate receipts for May,
1928, were $100,862,l47. conpared
with s112,734 ,079 for the month OF
May, 1924, decrease of $l1,S71,93I.
Rail Rates VS.. Grain Costs.
Transportation costs had no rela.
i've bearing on the fluctuations in
prices paid the farmer for corn and
oats during the 20 months from
August, 1928, to last March, a state
ment issued by the Bureau of Railway
economics declared today. giving the
conclusions of study of the problem.
Whereas, farm prices of corn and
oats were shown to have fuctuated
widely during that period, freight
rates were practically stationary, the
bureau said, and therefore We're mot
responsible" for such ffuctuation.
whether upward or downward
Economic conditions and other fac.
tors are more important than freight
rates IN affecting the prices paid to
the farmer" the bureau concluded.
Tax Reductions Discussed.
Discussion of possible tax reduction
py the next Congress continues to oc-
cupy local financial circles, much in
terest being evinced in the numerous
expressions by Government officials
and congressional leaders.
PREDICTION was made by W. B. Hibbs
Co, In letter to its correspondents
today. that the new tax bill will be
known as the '.Green-Smoot" bill. and
VIII not be called the Mellon plan. Sec
retary Mellon, however, the letter
says. will be able to recognize it un-
ger lts new name, for il will provide
Tor most of the tax reductions Mr..
1r0la n 6n1
1t may not cut out the estate fax.
for the Western members still have an
IDEA that the estates left by the East
ern rich should be taxed for the beDe-
III OF the whole country instead of left
TO the States where those rich made
their money and lived. But the con.
gressional leaders are so anxious to
meet the demands of the country for
tax reduction that they may Weld this
point as we'll as the high surtax."
New Offerings Made Today.
Several new offerings appeared TO.
day. White Weld & Co, Dillon, Read
x Co. offered SO 1SS. 900 public credit
external I per cent sinking fund gold
bonds. on the Province of Santa Fe.
Argentina, in denominations of ST. 900
ana $500, dated September |, 1924. due
September 1, 1912.
Inc local once OF the Guaranty
co. of New York announced offer.
ing OF 100000 FL Paso Electric Co.
refunding first mortgage gold bonds.
series A, per cent, due June l, 1850.
Boosts Thrift by Posters.
The American Security & Trust Co.
has inaugurated a new ornamental
poster system to proclaim in the main
banking rooms of four of its institu.
tions the advantages of thrift.