Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-11
LAND BANK VOTES
CAPITAL INCREASE
Potomac Joint Stock Institu-
ton Authorizes S25O.OOO
Addition.
BY CHiS. =. SH.AEFFER

BY CHAS. =. SHAEFFER.
| Directors of the Potomac Joint stock
! Land Bank have authorized an in
/ crease of $3.50 900 in the Institutions
| capital, subject to the approval Of
| the stockholders at the annual meet
| ing in January and also subject TO the
approval OF the Federal Farm Loan
/ Board.
! George \. Harris. president ri the
! bank. reported To the board that 1h.
! loaning capacity would soon be 1T its
| limit under the present pitalizatior
of $3.50 900. and recommended that the
| amount be doubled. Mr. Harris state.
| that the capital stock of his orEaniza-
| ton is closely held few shares haNiu.
| changed hands since inception OnIE
| about 500 ,00U of the newly authorized
| stock Will be offered the general III
vesting public. this amount being sold
as the loaning requirements demand
| Directors also declared the r"gula
! semi annual dividend of > per cent on
the capital stock. payable on Januar
/ next to stockholders of record lJr
! cember 20. The disbursement Wa
voted after setting aside the required
! legal reserve.
The Potomac Joint Stock Land Ban.
was chartered in 1923 und@r the Ecl
| eral farm loan act, to operate in Mary
| land and Virginia. and has had rapid
| growth. 1t reports first mortgage
| farm loans of S3,4T0. So and IiberrE
| bonds and cash in excess Of 500 .OUu
| The bank has issued farm loan buru-
! to the amount Of $4,000 900. Under n
, provisions Of the farm loan act joirS
| stock land bank may invest its capital
! 10 times in first mortgages on iU-
proved farm land.
| Officers OF the institution are: Gcnr-n
! A. Harris, president: Werner Gown
OBSERVATION-DISCLOSURES: John T. Casscdy.
vice president. and \. Mitchell Palmer.
! general counsel.
| The following put-of town haukers.
/ who are directors 81 the institution"
attended reSterds IS meeting ~. Gil
bert Dent cir ,on. Md; r {. H"din-
ger. Boydtor.. Va: John T.. saul. -.
! lem. Va: carroll Pierce. AlnNauari.s
Shirley Carter, Winchester. and i. r.
G. hopkins. ir.. Port Deposit; Nd
joins Lanston Board.
NJ &. Branch. president of rhe
Merchants National Bank Of Rich
| mond and member Of the investment
| banking firm Of Thomas. Branch &
! Co. Of that city. has been added %
the board of Lanston Monotype. J
! Thilman Hendrick, chairman Of the
board. announced this morning
The new member and his family
have been stockholders Of Lanston for
many years, being interested in the
stock purely from AN investment
standpoint. which is enhanced in Nir.
ginia by an intangible tax of SI.l9 on
foreign investments.
More Dividends Declared
Directors Of the Mortgage. Bond &
/ Guaranty Go. have declared the reg
MA, { No
| OF 8 per cent per annu,-- on the pre-
, ferred stock. payable on January ~
to stockholders of record December
81.
Directors of the McI.achlen Bank
stitufinn in The NH. of TO .,,r,.
honor roll institutions by increasing
tS urPiuS l" Sl"',''"' ri'lNaieH' -.
me paHk capital me sum q.
S-''ou" was necessary L" eject IN"
parallel
Directors also declared me regular
seiili,a d l 'ilidShu 81 per Ger,
pay aIele on iITIfii'ps, 81 :" Nl".,i
VI t''iu i'''SiiI"'i ~ i-ail''i J III
-n'l-atlileh i president ~ the IHSN!t4-
uon.
Treasury Rocks Chased
TIL, ,r,..o,,,,,,- .,,,,,,,,,,l,,.. -. .,,,,
| eo,-;,,io-s Co.. ~ $50 e -,
SUBSCRIPTIONS OF Indebtedness. dated
beteiiioeI 10 pear lls 80 per cent ana
maturing December Ia, ~. Closed
a. ny us u 5
i>epoi = "a ION ny ! -
Nt trailNs M" ia Ia ny ~
!ei ~, ", Miii'n Nd> i"i S7'V,V,'''''' a..
) eaI o us - Iiti"iiS as, eNa s't"'"t
soao'oVu'VV. VI th'St ap"ut HipN..p'
wv represent SUBSCRIPTIONS in WhI'h
rredsulN Hotes ol series 30, "-
IedSurH CTItniCateS Oh lhuenl"ul,SS
Oh series 10. pom i,atui I!IN -
cehpef - 80 We're tei'deFGd IN pay
.heh'' an ol "ilcn were a!i"''ta ~
nun; 'aSh Sti'ScrlP'l"iS were l1s''a
III 'i't vi uei ~ Hi@S-
Ioc,I ExcI,auco ,,,i,c
)
Stock Of the National Savings AND
Trust Co. jumped TO $50. new high
, record. on the Washington Stock EN-
change this morning. when so shares
changed hands. The issue opened ~
|. 455. and now has the distinction NJ
, being the higheSt-priccd bank stock
on the local board
! Capital Traction stock strengthened
, to 1888 on sales of Is shares, hut
Railway Common slumped 10 $40 on