Evening star., 1926-12-16
EXTRA DIVIDENDS AND BONUSES
DECLARED BY DISTRICT BANKS
Washington Mechanics, Security Savings
and Commercial and National Metro
politan Make Yuletide Disbursements.

time an extra dividend OF b per ceN'
was declared, payable December 20. to
stockholders of record December l5.
Ezra Gould, president of the insti
tuition. reported to the board that the
bank had just completed it's most sue
cessful year, the earnings being ap
proximately SO per cent and the de
posits recently touching the highest
point on record.
Due to the exceptional record made
the board declared a bonus of A pei
cent of the capitalization to be dis
tributed to the employees in proportion
to the annual salary of each.
The institution now has capital OF
$4,000, surplus $4,000 and undivided
profits Of about 1000. Total divi
dends paid during 1926 amount to 22
per cent.
Extra" and Bonus Voted.
At a meeting late yesterday the
Savings and Commercial Bank de-
clared a regular quarterly dividend of
4 per cent, together with an extra
dividend of 1 per cent, both payable
December 81 to stockholders of record
December 27. The directors also voted
to transfer $4,000 from the undivided
profit to the surplus account. This
action makes the capitalization of the
bank 100000 and an equal amount In
surplus.
In appreciation of the efforts of the
employees that have made this year
such successful one bonus of per
cent of their annual salary was voted
payable to each employe of the bann
The National Metropolitan Bank
also joined the extra dividend column
at meeting held yesterday afternoon,
when special disbursement of l per
cent was voted. according to an
nouncement by George w. White, the
president. The extra dividend Is pay
able on January /. This brings the
banks dividends for the year up to IL
per cent, the usual semi-annual per
cent payment having been made in
October. and an extra l per cent
declared in July
B. w. Morse was mentioned in news
dispatches a few days ago as owing
$4,000, and the Continental Trust
Co. of this city was named as one of
the creditors. In speaking of the
news item today, President Wade H.
Cooper of the trust company said that
the transactions with the bank took
place under a previous administration,
and related to some steamship COM
pany financing during the World War.
The loss was charged off the trust
company's books soon after he be-
came president. Mr.. Cooper added
that he doubted if all the losses com.
bined during his entire banking
career would amount to $4,000.
Local Exchange Very Active.
Trading on the Washington Stock
Exchange was very active at strong
prices again today, the bond turnover
heavy. Capital Traction stock opened
at 103B and closed at 1897. Potomac
Electric preferred sold at 107A. Wash,
ington Railway preferred sold at 9OA
and 80 shares of the common came
out at $50. One share of Riggs Ma
tional Bank changed hands at 450,
and Continental Trust again sold at
lo2. Union Trust opened at 231h
and closed at 231.
Columbia Title Insurance Co. sold to
the extent of 100 shares at II, and
I4anston Monotype was out at 93h.
National Mortgage and Investment
preferred brought 8h. There was a
sale or one share of Mergenthaler at
l07@. Yesterdays advance In Mergen-
thaier caused much comment on the
local exchange. This stock touched
ITO yesterday in Boston, the highest
price In a long time, the unexpected
ADVANCE stirring up much gossip
about it.
Washington Gas SIS and Washing
ton Gas 6s led today's bond trading.
The 6s opened at 104 and closed at
lo5A. The 5s sold at par and half.
B. & o. Earnings Up $4,000
The Baltimore and Ohio Railroad,
l., \
an extra dividend of SO cents a share
today, plans before the end of the
year to exercise it's rights to sub
scribe to 303,325 certificates of inter-
est in the Philadelphia and Reading
Coal Corporation by payment of 81
per right. 1t has 606,650 rights. Sur
plus Of the road for the IL months
this year was $27 ,096, ,901, an increase
of $8,160,805 over the same period of
1925. Surplus for 1926 is officially es-
timated at 28.483, 900, which would
be gain Of $7,690,393, the balance
after preferred dividends, being equal
to about II per cent on the common
stock.
r. E. Claughton, vice Npresident of
the Washington Stock Exchange, left
Washington today for Bermuda, where
he will spend the Winter. He expects
to return the last of April.
w. w. Spaid has returned from At
lantic City, where he went for a few
days after attending a group meeting
of New York Stock Exchange brokers
in Philadelphia.
The Departmental Banks monthly
bulletin contains several strong ap.
peals to thrift. make what you make
make more" is one of the leading slo.
gans, and the statement that is it bet
ter to be "a dollar up instead of a dol
lar down." Is another.
The Security Club Of the American
Security & Trust Co. will hold a
Christmas party on December 20 at
2400 Sixteenth street.