Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-01-06
MERCHANTS BANK
REPORTS FOR YEAR
General Situation Shown in
Increased Business-Mort.
gage Company's Statement.
BY CHAS. p. SHAEFFER.

Some indication Of the general pros
perity enjoyed by WASHINGTON banks
curing the calendar year Just ended
ca n be gained from the report render
Cd stockholders Of the Merchants Bank
ana trust Co. for the 12-month period
ended December 81 last This instjtu-
ton, which Is the first TO hold it's an
nual meeting. can be fairly rated as
representative and barometer of the
general situation
me nigh lights in the bank s repor,
are an increase In deposits OF 1921.
343I 40 during the wear the addition Ia
surplus and undivided profits Of an
proximately $4,000 after payment OF
All nXed charges and A gain of $3.50
o4o In loans and discounts. This latter
item. on December 81 amounted 10
s.9lo,7l2. with a surplus and undi
vlded profits account of s2aa485 and
deposits OF f8.i93415. Other liza biIi1iee
OF the institution amounted 10 $27.1o5.
but there were no bills pavable o.,
I)ecemher 81 last. in contrast with
$4,000" owed on the rorrespondinc
date of 1924
All classes NJ deposits showed n
heaithN Increase during the wear
while the trust department Of the in.
sttution operated at volume IS per
cent IN excess of the preceding year.
IT was reported
relieving the report stockholders
reelected the existing hoard for the
ensuing year, composed Of the fol
lowing. Harry f. Allen. Ray H Az.
noio. J. W. Biddle, RoIfe Z. Boiling.
Harry r. Carroll, Peter NJ. Dorsch
refer a. Drury- Mark F. FINLEY.
Frank f. Ghiselli, Frank P Hartman.
| r.; II. {. Marshall jr.; J. Ernest
Mitchell, Frank O'Hara. Roland :.
Robbins. l.. f. Schreiner, J. l.. She.
WOOD A. g. Waller. NJ. a. Weller.
william Henry White and John Zan-
Ter This list will be augmented at a
/ meeting late this afternoon when =
/ number Of directors of the Citizens
SAVING Bank recently absorbed by
Nr. Drury. who desire TO qualify will
De added To the Merchants di-
rectorate
Dividend Checks Sent Out.
Stockholders Of the Real Estate
Mortgage and Guaranty Corporal ion
are receiving today their semi -annua'
dividend checks Al the rate of per
cent per annum on the preferred A nd
~ per cent on the common.
l.. r. Breuninser. president Of the
corporation. reports net earnings of
S24S,542.59 for 1925. and a surplus of
S5so,3s4 after deduction for the cur
rem, dividend. During the last year
me corporation marketed it's initial
issue OF INST mortgage guara nteed
! gold bonds.
stock Scores New High.
/ The gradual rise Of Potomac Elec-
| trio Power preferred stock continued
uninterrupted on the Washington
| STOCK Exchange this morning when ?
| pedh OF iofs was established on sales
| OF ms stock moved in sympathy. sell
| ing AT 1862. which is also new peak
Washington Railway and Electric
| common broke into the sales column
iI,er relatively long period Of in
activity. 10 shares selling at 225. 1t
was held at go as trading ceased.
railway preferred sold at a1a.. and
Merchants Transfer and Storage Co.
brought ia on sales of 20 shares
This price Is slightly off due to the
hncuHN encountered in determining
It's level. following the recent 3sa PEI
| cent stock dividend
! Washington Gas Light stock was
| hrm and active AT 13S. as was Capi-
/ tai traction at fractionally above los.
| Union Trust Company sold at OPAL,
| and 223. and 10 shares of Merchants
! Bank and Trust Co. brought 1855.
Riggs was unchanged, AT 49,. as wa 8
/ "',Nnl' security ana trust 20. a |
! $50.
, Figures Show Rail Values.
! Figures illustrating a remarka bio
! increase in railroad values have been
laid before the Interstate Commerce
! Commission by the Southern Pacific
Co. in asking permission to paw
100000 in sh for the common stock
OF the Dayton-Goose Creek Railway.
| in Texas. although the par value of
the outsta nding capital stock of the
| company is only $4,000 The South
| ern Pacific also asked the commission
| 10 approve its project to lease the
| Dayton company to the Texas and
! New Orleans, one of its subsidia ries.
In explaining why the Southern
! Pacific wished to pay a price of IS
/ times the company's par value. the
application said the Dayton compa ny
was earning S95.000 a year.
! Il. :. Sterling, owner of the DAYTON
! stock. contracted on November - to
make the delivery AT the demand Of
the Southern Pacific Go. The appli-
! cation said the Interstate Commerce
| Commission had valued the DAYTON
1