Evening star., 1925-02-21
LOCAL BANK STOCK
JUMPS 50 POINTS
National Savings and Trust
Market Feature-Other
Financial Notes.
BY CHAs. p. SHAEFFER.

An abrupt jump of so points 10
430 on a three share sale by stock of
the National Savings & Trust Co.
was the most interesting feature Of
the weeks closing session on the
Washingto Stock Exchange.
The National Savings & Trust Co Is
one of the strongest banks IN the
city. 1t has a capital OF $1,00o,0o
which is equaled by the surplus
fund, while the undivided profits &C
count of the institution Is more than
100000 in excess of surplus. The
last sale of the company's stock was
made in December at an even 400.
Washington Railway Electric
preferred jumped into the limeltght
with sales aggregating 500 shares a.
81s and 81. Three shares of COM
mon brought 101.
Potomac Electric consolidated 5s
were off to 9S24, with Chesapeake
& Potomac Telephone 5s selling at
par and a quarter.
North American Dividend.
Directors sf the North American
Company have declared the regular
quarterly dividends of IL per cent
on the preferred and 2ls per cent on
the common stock, both payable on
April ] to stockholders of record
| March s. The dividend on the> com
mon will be paid in common stock a.
par, or at the rate of one-fortieth Of
one share for each share held OF
record at the close of business
March 5.
Common stockholders, however, have
the option of receiving cash on April /
for their dividend common stock at
the rate of S5 cents a share, but, in
addition, the company will arrange.
upon request, for either the purchase
or sale of fractional scrip on a mar
ket basis Under the latter plan, with
| Al as the market value, the stock
| holder desiring to dispose of his
dividend stock would receive Sl.1J
| for each one-fortieth share held, or
| 80 cents more than the cash dividend
| option
At the present market OF around Al
| the dividend is equivalent in cash TO
S1.17 a share. On the date OF the
| previous dividend the cash equivalent
was only $1.02.
Bakers, Conference Ends.
| The importance of better under
| standing of human relations in in
dustry was urged and formed the
keynote of the three-day conference
on plans and policies of the AZ presi-
| dents of subsidiary baking companies
of the newly formed Continental
Baking Corporation, concluded yester-
day afternoon in Chicago.
Karl W. Corby,1 president Of the
| local Corby Baking Company, an i'm
portant member of the combine, was
| in attendance.
| Financial Holiday Monday.
Financial markets of the country.
| as well as all local banking institu-
tions, will suspend business, honor
ing Washington's birthday on Mon
day.
Building and Loan Business
Building and loan associations in
the United States number IL ,814, with
a membership Of 7,e32,o0o and assets
of s4,12s, ,0oo, 900, according to the New
York Trust Company. which states
that their rapid growth within recent
years is one Of the outstanding features
Of the trend toward greater partici-
patton of wage earners in the fruits
of capital and capital accumulations?"
The bank estimates that 3e per cent
| of the financing of urban and sub
urban homes owned by their occu-
pants is accomplished through build
ing and loan associations.
Heating Contract Awarded.
The W. G.. Cornell Co. of Washing
ton and New York has been selected
to install the heating and ventilating e
fixtures in the new Federal-American
National Bank Building, John Poole,
president, said this morning.
The heating plant will be of the in
terchangeable design, an S,00o-gal
lon capacity oil burner providing an
auxiliary to the coal furnace.