Evening star., 1926-12-10
POTOMAC JOINT STOCK LAND
BANK TO PAY EXTRA DIVIDEND
REGULAR Disbursement to Be Made-Rea]
Estate Mortgage and Guaranty Cor
poration Also Declares on Stock.
nj Stockholders and others interested

ent stockholders and others interested
in the institution.
The out-of-town directors of the
bank who attended yesterdays meet
ing included J. T. c. Hopkins: presl-
dent of the Cecil National Bank, Fort
Deposit, Nd; N. T. Shumate. presl'
dent of the National Bank of Char'
lottesville, Charlottesville. Va; Car
roll Pierce, president of Citizens Ma
tional Bank of Alexandria, Va; F. c.
Bedinger, president of Farmers Bank,
Boydton, Va; Charles Edward Hill
lard, president Of Nicodemus National
Bank, Hagerstown. Md; j. P. Saul,
jr., of the Farmers National Bank,
Salem, Va; Shirley Carter of the
Shenandoah Valley National Bank,
Winchester. Va; Joseph A. Wilmer.
attorney-at-law, La Plata. Md. and
w. Gilbert Dent, president of the
Clinton Bank, Clinton, Md
Mortgage Firm Votes Dividends.
The directors of the Real Estate
Mortgage and Guaranty Corporation
today declared the regular semi
annual dividend at the annual rate
of 8 per cent on their preferred stock
and ~ per cent on the par value
Of the common shares. payable De-
cember 81 to stockholders of record
December 20. This is the seventh
semi-annual dividend on both class
es of stock.
On November 80 the corporation
reported total resources OF $4,059,-
50O.61 with surplus earnings and dis
counts Of $567,393.96 after deducting
all dividends paid. Management of
the corporation reports that it has
sold during the past year several
issues of first mortgage bonds, which
are guaranteed by two of the larg-
est surety companies of the United
States. These guaranteed issues
have found a ready market among
conservative investors and the cor
poration is steadily developing this
phase of its business.
Directors of the corporation are:
l.. E. Breuninger, Thomas Somer-
vile, r. L. Neuhauser, Anton
Stephan, w. F.. Sickle. Fred Drew.
Hayden Johnson. William Much
leisen, Donald Woodward, Charles
A Carry, T. c. Dulin, Frank H.
Edmonds. Andrew Loffler, Henry L.
Breuninger, Sol Lansburgh, Horace
q. Smith, Thomas Somerville, jr.;
Edward G. Ernst and Michael A.
Weller.
Richmond Ratio Leads System.
Further sharp declines In volume of
bills discounted in the local fifth dis
tr7ct were reflected by a rise in the re-
serve ratio to 1882 from 76.43 per
cent the week before. This was we'll
above the ratio of the IL banks COM
olned, which was 72.1, against 1872
per cent on December l.
richmond discounts slumped to
S25 .493.0OO from $29 ,205,0 the week
before, and are around bottom figures
for the year. But in view of increased
demand for currency to meet holiday
trade requirements, Federal Reserve
note circulation increased $1,896, 900
in a week.
Bill holdings of the reserve system
as a whole declined $17.924 900, to
995,715,OOO on December 8.
Two Banks Declare Dividends.
At the regular meeting of the board
OF directors of the Farmers & Me
chanics' National Bank in George
town, held yesterday, the regular
| quarterly dividend Of SO per share
was declared, Harry v. Haynes, the
president. announced today. The divi
dend Is payable January l to stock
holders of record at the close of bust
| ness on December "a.
Austin c. Walker, vice president OF
| the International Bank, announced to
day that the board of directors has
| authorized the regular semi-annua
| dividend at the rate of 10 per cent pel
! annum, payable January Is to stock
| holders of record on December Is
| With the payment Of this dividend
| Mr.. Walker states, the stockholder:
will have received approximately 500
In cash and stock dividends since 1920
| The present per cent dividend
amounts to about 100000.
New Course at Institute.
T. Hunton Leith, president, and
| j. Roberts, chairman of the inStitute
educational committee, announce that
a new course in commercial law will
be conducted during the second Sc
mester. The instructor will be George
Francis Williams, member of the Dis
| trict Bar, American Bar Association
and general counsel for the Lincoln
National Bank. He has had university
lexperience in teaching the subject anC
his bank connections will make his
views Of special value to young bank
ers. The course is in addition to the
one taught SO successfully by Ray
mond B. Dickey, who has a course ir
negotiable instruments during the sec
ond half year. Many of the students
In Eliot H. Thomson's class in banking
! fundamentals will be free at midyea
and plan to Join the new class.
I; Exchange Trading Moderates
! Capital Traction sold up to 104K
again today on the local exchange
Potomac Electric Power Preferred was
out at 107k. Lanston was 921a, while
Mergenthaler opened at 1O5h ant
| closed at 1861. Two bank stock:
appeared on the board, District Ma
tional selling at 225 for one share, ant
Union Trust at 228, 22SA and 229.
Bond trading was light at price:
practically unchanged from those pre-
Vailing earlier in the week.