Evening star., 1926-12-17
IYULETIDE DIVIDENDS DECLARED
BY 6 MORE BANKS IN D. C.. AREA
Bonuses for Employees Accompany Christ
mas Disbursements of Several of the
Institutions in and About Capital.

held late yesterday the regular quar-
terlv dividend of IL per cent was de-
clared and the directors then voted
an extra disbursement of one-half per
cent. Both of these dividends are
payable January / on stock OF record
on December %.
Following the policy adopted last
year, they directed Christmas
bonus to the banks employees of 5
per cent of their yearly salaries.
Savings Bank Votes Extra"
The directors of the Northeast
Savings Bank at their last regular
meeting voted to transfer $4,000 of
Me undivided profits to surplus. In
addition to the regular per cent
semi annual dividend. they voted an
extra / per cent dividend to stock
holders as of December Is, payable
January I.
This institution has experienced
one of the most prosperous years in
it's history and the directors re-
warded the officers and employees OF
the institution by granting them a
generous bonus, according to an
nouncement made by Vice President
George +. Hoover.
Other Bank Dividends.
AT the annual meeting of the
stockholders of the Potomac Savings
Bank all of the directors were re-
elected. The bank has also declared
the regular semi-annual dividend of
5 per cent
At a meeting of the directors Of
the Mount Vernon Savings Bank the
board declared the regular quarterly
dividend Of 11a per cent, and also
voted an extra payment of ! per cent.
The board also voted a Christmas
bonus to each employe of the bank
of per cent of the salary paid dur.
ing the year. The banks Christmas
savings club for 1927 has already
reached 500 more members than 1t
had registered during the correspond
ing period last year.
The directors of the Southern Mary
land Trust Co. Of Seat Pleasant. Md,
have declared the regular semi-an-
extra dividend Of l per cent, which.
with Az per cent dividend last July,
make a total distribution to stockhold-
ers for the year 1926 of 10 per cent
dividend. according to an announce
ment made by Samuel j. Henry, presi-
dent of the bank, today.
Washington Stocks Steady.
Fourteen shares of Farmers and
Mechanics National Bank stock were
sold on the local Stock Exchange today
at 285. Lanston came out at 93B and
closed at "a. while 10 shares of Mer-
genthaler Linotype changed hands at
LOT. This is the stock that jumped to
108h Wednesday on the local board,
when it sold in Boston at ITO.
After call today Potomac Electric
preferred opened at 107H and closed
at 1071a, sales totaling only IL shares.
Georgetown Gas 5s were active, 5000
selling at 981z and a $500 bond at
SSA. Potomac Electric Consolidated
6s changed hands at 100%. Union
tai Traction and Mergenthaler were
ex-dividend today.
Local BOardrOOms Crowded.
Local boardrooms were crowded to
the doors when the New York stock
market opened today. trades being
anxious to learn the reaction to the
$200,000,0 900 United States Steel stock
dividend. The market opened feverish-
ly, Steel being about the only stock
coming over the tape for several min
utes. Steel common is widely held To-
cally and many Washingtonians will
get in on the dividend after it has
been approved In April by the stock
holders.
Loan Plan Held Successful.
J. T. Exnicios, president of the
Departmental d Bank, reports that the
loan and savings plan adopted about
three months ago has proven very
successful. So far 4s0 people have
taken advantage of the plan, having
borrowed $4,000 and at the same time
having $4,000 to their paid.up credit.
Government workers are urged to
use the plan when in need of money
and they are also advised not to be
satisfied with q straight salary"
They are urged to make all their extra
money work and to adopt plan of
saving 4 certain definite amount every
month.
Country Club Bonds Sold.
The entire issue of s4oO, 900 per
cent Congressional Country Club
bonds, maturing in 1928, now has been
distributed. On January l of the cur
rent year $155,000 of the issue re-
manned in the club treasury. The
sale of these bonds is now announced
by E. f. Colladay, he being chairman
of the special bond committee.
Loan Society Reports Profits.
The Beneficial Loan Society's indus
trial loan department reports profits
from operations, after deduction of ex-
penses, for the month of November as
$139,271. This compares with $123,769
for the same month in 1925. The
operating net profits in November
were much in excess Of the bond in
terest on the society's $4,000, 900
debentures.
Bank Club Elects Officers.
Philip M. Garnett, manager of the
savings department of Riggs National
Bank, has been elected president of
the Riggs Club, George NJ. Irelan and
Miss Viola Allendorffer were chosen
as vice presidents; James L. Finegan,
treasurer, and Miss Esther Lau,
secretary. The board of governors
named for the ensuing year consists
of William H. Taylor, Daniel Callahan.
John S. Ramsburgh, d. E. Wisecarver
and B. G. Womersley, all of the main
office; William L. Hoeke, Dupont
branch; B. I. Boudren, Seventh and 1
streets northwest; l.. o. De Lashmutt,
Park road, and Benjamin Mensh,
northwest branch.
A.