Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-12-28
NEW BRANCH BANK
OPENS TOMORROW
Farmers & Mechanics Ex-
pands to Wisconsin Avenue
and Warren Street.
BY EDWARD c. STONE.

= 1t is announced by Harry V. Haynes
SHAT Washington newest bank. the
: branch just erected by the Farmers 4
: Mechanics National at Wisconsin ave-
: nue. and Warren street, will be opened
: for public inspection tomorrow from
. o'clock in the morning until 10 pm.
Il and will he formally opened for bust.
ness on Friday at $50. The public in
the new branch banks territory has
been invited to attend the opening
and bankers from a host of other
wa shinrton institutions also have
heen asked to visit the new quarters.
An orchestra has been secured for the
evening,
e President Haynes calls attention TO
the opening OF the main bank ITO
wears ago and hopes that the opening
Of the branch will be as important IN
the section which il is intended 10
serve. The new bank is one of the
finest from an architectural stand
point to be found in any SUBURBS III
this locality and has every CON
yenience for the conducting OF ousl'
ness. w. Edmund Freeman VIII take
charge of the branch and corps Oh
experienced assistants Will so there
from the main office in Georgetown.
The hank has already begun serving
the public, having opened its Christ
mas Savings Club in a nearby store
on December ].
Regular and Extra Declared.
The hoard of directors of the Ma
tional Bank of Washington at its
regular meeting today declared the
,,sual semi-annual dividend or per
cent and also an extra disbursement
Of 1 per cent, both being payaoie on
January 8.
The banks employees were granted
additional compensation as an express
sion of appreciation by the ofncers anu !
directors for the faithful service rem
dered throughout the year.
President George L. Siarkey re-
ported that the Oldest bank in the Dis
trio, of Columbia had enjoyed a pros.
porous IL months and added that II
is now beginning its 1l9th year with
every prospect of continued success.
Railroads Report Earnings.
Ne, operating income Of the South.
ern Railway System for November de-
clined to $685. from S,142,O19
year ago and for IL months of 1927 to
ss,97l.lo from $43.4S6,S72 in the COR
responding 1925 period.
November surplus Of the CheSa-
peake 4 Ohio fell to $1,229.2l7, after
charges and sinking fund require
ments, from $2.662 ESQ a year ago.
but surplus for IL months this year
was ahead of the same period OF 1895.
$2e $50, sos against $26,405,S32.
November net operating income or
the PENNSYLVANIA Railroad dropped to
$s,1IA.S3 from $l0.501 col in Novem-
Der, 1926, and for IL months this year
70 $1O0,2S3,0S7 from $l0l. las, 437 in the
corresponding period last year.
Continental Votes Dividend.
The directors OF the Continental |
Trust Co. yesterday voted a quarterly
dividend Of Ia per cent, payable De-
cember 81 to stockholders of record
on December %.
A semi-annual dividend of per cent
was declared by the Richmond. Fred.
ericksburg q Potomac Railroad. pay.
able December 81 The road has been
paying semi-annual dividends OF 3h
per cent.
Directors OF the American Ice Co.
yesterday declared an extra dividend
Of so cents per share on common
stock in addition to the usual quar-
1eriy dividend Of 50 cents a share on
common and III per cent on the pre-
zerred stock. The dividends are pay.
able January % to stockholders Of
record January 6.
Directors OF the Terminal Refrigera-
tor d Warehousing Corporation have
declared the regular semi-annual diyi.
dend OF per cent. payable to stock
holders of record at the close OF busi.
ness yesterday. The dividend Is pay.
able December 81.
Edwards Quits Bank Craftsmanship.
Edward /. Edwards, United States |
Senator from New Jersey. announces
that he has severed all connection
with the First National Bank Of Jer- |
bey City by resigning from the chair. |
rnanship OF the board and selling his |
stock interest. This action |
follows his resignation az president |
Ia favor Of Kelley Graham year ago. |
In his announcement Senator Ed |
wards explained that he wished to de- |
vote more Of his time TO the New Jer-
sey Bankers Securities Corporation. |
which was organized about six months |
ago by himself and several others.
&c. C. Grants Long Lease.
The Interstate Commerce Commits |
sion today granted authority 10 the |
Eeaboard Air Line TO take over the |
Georgia observation-disclosures Railroad. |
tine $50 miles long. The Seaboard win !
lease the property for 20 years and |
will pay an annual rental which will |
allow the payment of interest and diyi- !
Sends On an issue OF Sl,7s0.000 in 6
per cent bonds and 81 800 900 in s
per cent preferred stock.
The Seabosrd also win pay 81 700
tn cash for the common stock of the
road. which In 70 be operated in fu.
lure an O part OF the EeaboaTd system.
Local Securities Strong Today.
Prices on the Washington Stock Ex.
change were strong again today. Po-
tosnac Electric Power 5h per cent
preferred entered new high ground by
reaching IDSK. Gas stock sold at s5
tor the fret time in several days. Rail.
way preferred came out AT i00h. Mer.
chants Transfer mt 1Dg. Peoples Drug
1T 1z2h and Union Trust at 305.
Sanitary Grocery sold up 10 1864
Mergenthaier registered l04K snd 10
shares of Real Estate Title * Insur-
snce Co, appeared On the board at z95.
Ehapfn-Escks B per cent preferred
changed hands st i05.
Bonds were quite active and main.
tanned the recent high Levels. which
sfs also right around the highest quo
tations Of the year.
kresge Opens ~ New Stores.
The Il. s.. Ksesge CO. reports the
Ope ming Of nine new b-snd.i1 cent
stores and five new ZS-cent'totl
stoEfs, making total ~ 4s6 stores In
operation On Ut December II.
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FOREIGN EXCHANGE.