Evening star., 1925-04-09
DIVIDEND DECLARED
BY LOCAL BANK
Washington Loan and Trust
Company Pays 3 Per Cent.
Exchange Trading Active.
BY CHAS. p. sHAEFFER.

Directors Of the Washington Loan
and Trust Co. have declared a quar-
terly dividend Of per cent on the
capital stock os the institution, pay
able on May 1. the books closing on
Aprn "a. This action continues an
unsroken dividend period of more
than 81 years, 1t representing the
13lst regular quarterly disbursement.
Inc bank Is on a definite dividend
pasls or IL per cent yearly. but an
extra of per cent declared in
January will bring this years dis
bursements to at least IA per cent.
Prlor TO 1925 the institution was for
many years, on a definite basis of
10 per cent with extras amounting to
8 per cent
The Washington Loan and Trust
Co. has capital of $1,000, 900. surplus
OF Sl,750,000 and undivided profits of
approximately 100000
Double Holiday Voted.
Members of the Washington Stock
Exchange today voted themselves a
two-day holiday tomorrow Good
Friday and Saturday. The markets
of the country will also stand ad-
journed tomorrow
Trading was active on the local
board this morning. the outstanding
point of interest being a decline on
the part of Gas stock to 57&4, a new
low level on the present movement.
But ten shares were traded in.
The general tenor Of the market
strengthened to 921l on sales of 33
shares. and National Bank of Wash
ington sold to the extent of 81 shares
at 225. Continental Trust Company
brought 81 and Railway preferred,
nrt
| ment, preferred, was firm at ga.
On the investment side of the list
Potomac Electric first fves sold TO
| the extent of $4,000 at par, while the
z per cent bonds of the company
brought 10715 and 1919.
Allowed to Fight Merger.
A committee claiming to represent
$500 individuals holding 145,0O0
shares of preferred and common
stock of the Chesapeake and Ohio
railroad. worth s14, 500, 600, was granted
permission yesterday by the Interstate
Commerce Commission to intervene in
the Van Sweringen Nickel Plate con-
solidation
Headed by George Cole Scott of
Richmond, the committee declared
the petitioners were informed that
the Interstate Commerce Commission
is without Jurisdiction, authority or
power to decide whether terms of the
proposed lease of the Chesapeake and
Ohio are fair" and declared on their
own account that the terms of the
lease were grossly unfair, inequit-
able, discriminatory and confiscatory
both as to the Chesapeake and Hook
ing Valley companies and as to the
stockholders who have been induced
to agree to the plan"
Action of the Chesapeake and Ohio
directors was further declared to
have been a breach of fiduciary obli-
cations to the Chesapeake company
and its stockholders"
1t was also alleged that the board
of the Erie and Pere Marquette
railroads, which would become a part
of the Nickel Plate merger had OBJ
tanned more favorable terms in con-
nection with the proposed consoli-
dation.
| Minority stockholders of the Chesa-
| peake and Ohio have brought action
! in the Virginia courts to prevent
| consummation of the lease to the
Nickel Plate, which was approved last
| week by the majority stockholders.
| Prices of Unlisted Securities.
The following latest bid" and
| asked" prices for unlisted securities
are quoted for the guidance of
| holders of these issues:
| BONDS.