Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-24
STANDARD BANKING
FORMS DISCUSSED
District Body to Seriously
Consider Matter at Meet
ing Tomorrow.

The question Of simplifying and
standardizing bank forms in the Dis
trict of Columbia will be seriously CON
sidered tomorrow at the regular We'd
nesday luncheon meeting OF repre-
Sentatives of the District OF Columbia
Bankers Association, which will have
before it report from its special
committee on the subject.
The report, which was rendered by
the committee on standardized bank
ing forms, at recent convention of the
association at Hot Springs, has
aroused much interest among bank
ers of the city and extended discus
sion and consideration of the question
is expected to morrow. No final ac-
ton is probable at the meeting tomor-
row, according to Indications today.
Wide diversity in the shape, size
and style of checks, bank drafts. GER
tificateS of deposit. cashiers checks.
deposit slips, customers checks of all
kinds, and other forms exists in Wash
ington, according to the report sub
mitted by f. j. McQuade. vice presi-
dent of the Liberty National Bank.
chairman of the committee. and much
benefit would be derived from simplia-
cation and Standardization of these in
some form.
Have Specimen Forms.
Specimen forms have been submit
ted by the committee for considera-
ton. Other members of the commit.
tee making the report were: J. ID.
Howard. treasurer of the Seventh
Street Savings Bank; G. F. Jacobsen.
cashier of the National Metropolitan
Bank; l.. P. McLachlen, president Of
the McLachleh Banking Corporation;
Frank j. Stryker, president of Colum-
bia National Bank. and f. f. Swan.
assistant treasurer of American Sc
curity and Trust.
Washington was deeply interested
today in the action of the board of
directors Of the North American Co.
yesterday In declaring the regular
quarterly dividends of 115 per cent
on the preferred stock and pa per
cent on the common stock of thu
company. The North American Co.
owns the Washington Rapid Transie
Co., and is understood to hold large
interest in both the Washington Rail
way and Electric Co. and the Capt.
tai Traction Co.
Payable October I.
The dividends are payable October
], 1926, to stockholders of record on
September Z, 1926. The dividend will
be paid in common stock at par, or at
the rate of One-fortieth of one share
for each share held of record at the
close of business on September 7. 1926.
The company will arrange. 1t was
also announced, upon request of any
stakeholder, for either the sale of divi-
dend stock, the purchase of fractional
scrip to complete a full share or the
sale of fractional scrip. Unless the
company hears from common stock
holders to the contrary by September
IL, certificates for shares of common
stock or scrip representing fractions
of shares of common stock to which
they will be entitled in payment of
the dividend will be mailed.
The inclusion in the consolidated
balance sheet since June sc. 1928. of
the property and plant and outstand-
ing funded debt and preferred stocks
of the important utility properties ac-
quired through the issuance of stock
of the company in the last months of
1925 is chiefly responsible for the in
crease in those items. Substantial eN-
penditures continue to he made for
additions and extensions to the plants
and systems of the other subsidiaries,
with resulting large increases in their
gross and net earnings.
Additional investments, aggregatlnS
about $11 900 900, and excess OF in
crease in total property and plant over
the aggregate of the increase in total
funded debt ard preferred stocks of
subsidiaries ard preferred and com
mon stocks of the North American
Co. are largely reflected in increased
reserves and surplus. which. including
capital surplus, were S54,744, 6S7.
larger on June 80, 1926. and amounted
to S13O,467, $50 on that date.
Total assets, as shown in the con-
solidated balance sheet of the North
American Co. for June 30 of this
year, were SCAT ,293, 035, against $751;
654 ,269 the year before.
New corporate securities offered in
this country in the first half of 1926
increased IA per cent over the
amount for the first half of the
previous year. while the Government
securities declined 4 per gent, accord
ing to the Index. published by 1he,
New York Trust Co. -
Personal Mention.
Ernest Gerstenberg, assistant treas
urer of the Merchants Bank q Trust
Co., and manager of the branch at
! Twentieth and Pennsylvania avenue,
| has gone on vacation. Frank il.
| Ghisell, vice president of the com
pany, is in charge during his absence.
r. O. Harper. of Crane, Paris e co.
returned to his desk today from
! vacation.
Mrs. Sara c. Bean. formerly saw
ings teller at the Federal-AmeriCan
| National Bank. has Joined her hus-
band at TampicO, Mexico. where he is
connected with an oil company.
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