Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-12-23
Wardman Company Votes Dividends

Wardman Company Votes Dividends
The board of directors of the Ward
man Real Estate Investment Corpora
ton has declared the regular dividend
of S per cent per annum on its elias;
A preferred stock. payable to stock
holders OF record December o9. Divi
dend checks will be mailed Decembei
81. a dividend of So per share wa:
also declared on the common stock
payable as of December 81.
The corporation reports satisfactory
income for the year and substantial
sum has been carried to the surplu:
account.
Officers were elected as follows
Harry Wardman, president: Thoma:
p Bones. vice president: James D
Hobbs, treasurer; Henry J. Robb. sec
rotary. and Daniel Thew Wright coun
sci
Mortgage Co. Dividend Deferred.
Stockholders today received the fol
lowing notice signed by Frank ]
Hughes, president of the National
Mortgage & Investment Co.. which
has headquarters in the Denrike
Building:
Notice hereby given that. owing
10 the present depressed condition Of
the market for real estate securities
the payment on January /, 1928. OF
the regular semi7annual cumulative
dividend of per cent on the preferred
stock of the corporation, by resolution
OF the board of directors, has been de
ferred until there is an improvement
in the real estate market.
This action is taken in order tc
protect the best interests of the stock
holders of your corporation by con
serving its assets. and to avoid the
sacrifice of the properties of our
clients who have been unable prompt
iy TO meet their obligations to us
owing to the present depression"
The stockholders are also asked tc
send in their old preferred and com
mon certificates to be exchanged for
the new stock. in accordance with
action taken at a special meeting in
October. Today's communication like.
wise includes the statement of condi'
fions as Of October 81. which shows
total resources of $5,575 .327.63.
Deferring of the dividend has caused
q weakness in the stock on the local
exchange, recent sales being around
"a.
Confer on Bank Trust Cooperation
s.
section of the District Of CoIUmbia
Life Underwriters Association. at III
5semi-rnonthiy meeting this week
listened TO the reports OF the com
snittee formed to cooperate with the
banks and trust companies of the
city, the purpose Of which is 10 con
serve the vast estate being NcreateC
Through life insurance by placing
1his estate under the administra tior
sDf the banks trust departments. Las
year the total amount Of estates
screated through life Insurance.
aamounted 10 some $50 900 900.
; The committee reported that twt
1neetings had been held with thu
bankers, and that they were asked Il
form a fiduciary section of the bank
sers' association similar to the sections
separating successfully In other cities
in order that they might NEE
regularly with the life underwater
10 further these ends.
II was reported that one bankint
s1nstitution, alive 10 the possibilities
had conferred with the president o
the Life Underwriters Association
with reference 10 the~matter OF com
petition Of the banks with the iif
underwriters. 1t having been brough
out that the life underwriters wer
fighting shy. Of certain institution
where they feared competition. Thi
matter of competition between TIN
banks and trust companies and tn
Life underwriters. whether direct o
indirect. was discussed at length, am
certain institutions were highly com
ynen6ed for their stand against an.
such competition.
The underwriters feel that consider
able progress has been made In tn
meetings already held and are lookini
forward 10 the bankers giving som
whole hearted cooperation In the ~
ture. II was announced that the Jar
uaIy meeting of the Life Underwater
Association VIII he addressed by III
trust officer Of one Of the leading loca
trust companies. who has given muc
time and thought 10 the matter G
insura nee trusts.
Columbia Bank Votes Bonus.
The directors Of the Columbia Nj
ttonai Bank yesterday afternoon vote
10 give s25 Christmas present 10 a
employees ri the bank and also a q pe
cent bonus based on the salaries pal
during the past year. The tz5 gil
has been customary for many year
and ia kept separate from the othe
special YuIetide disbursement.
The board also declared the usJf
3 per cent quarterly dividend due d
This time. payabie ~ Stockholders q
DecfTnber 81 Frank J. STRIKER, tb
president. snnrunte1.
Heard in Financiai District.
TIE directors ~ the Federal Amer
ehn %atlona! Bank have declared "a
regular quarterly DIVIDEND II III pe
cent payable January J. The Fedora
American 20, Wbicb ~ under III
same mans cement az the bank, ha
voted lbs regular quarterly diFidtU
~ III per .eht on lhe preferred an
- cents per share on the cDfnnlD
Etpses.
The Liberty National Bank staff ha
q Christmas party ia the bank iDhlJ
lar evening. which w8s "A LfiIliaf
Success 4 fuli-"ourhs dinner Was
Dlg feature. Dls'flbutiDn II EHi
from The tree and daHring added
the Occas3Ou.
American lee Earnings Up.
Charles 4. Small. president II Anne
lean Ice %. says the larger ics con
IIa nies are closing the year with sati
faetory earnings la The face Ut unse
EoHabis weather during mucb II II
Summer. indicating the iniereI
hounGneBh u tHe industry. Amerl"h
Ice would stpW earnings tor III
eauei tD 0T better Than the gear "
fore. when Net Income w5s 10
ar Ei1.95 share nn the Common aft
lrefefged diy1dendE
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