Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-12-15
TWO NEW RECORDS
ON EXCHANGE HERE
Columbia Sand & Gravel and
Union Trust Reach Tops
for the Year.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Two more record high marks foI
1927 were chalked up on the Washing
ton Stock Exchange today, Columbia
Sand & Gravel preferred hitting 10t
for the first time, and Union Trust
Bank stock registering 303.
Trading in Potomac Electric Power
5i2 per cent preferred led the market
4S shares changing hands at 1862
Twenty-Five shares of Washington
Railway & Electric preferred came out
at 100ls. Sanitary Grocery preferred
which has recently been SO strong
again sold at l05
Three hundred and eighty-five shares
OF National Mortgage & Investment
preferred changed hands at 5. A trans
Ger of 10 shares of Second National
Bank stock took place at 264ls and
five shares of Federal-American Co.
common moved at 3S12.
Bonds were neglected. Potomac Elec-
trio first SIS in a $4,000 transaction We're
strong at 101 and a $500 turnover in
Potomac Electric Power IS was re-
corded at 1854. just under the best
price of the year.
Bank Votes Six Per Cent Extra.
AT the meeting of the board of di-
reetors of the Washington Mechanics
Savings Bank. held yesterday the
regular quarterly dividend of per
cent was declared payable January J.,
10 stockholders Of record of December
20. At the same time an extra dlVl-
dend of per cent was declared pay
able December 20, to stockholders of
record of December Is. The bank is
now on a % per cent dividend basis,
which follows the policy established
in 1926.
Ezra Gould. president of the bank.
reported to the board that the bank
was completing its most successful
year, having shown during 1927
gain in deposits of $350,OOO.
Vital Trust Conference Planned.
f. d. Sampson. general agent of
the Connecticut Mutual Life Insur-
ance Co. announces an important
conference Friday at $50 at the CITY
Club between life insurance men IN
Washington and the trust officers con-
nected with the local banks and trust
companies.
The aim of the conference is to dis
cuss ways and means of bringing
about closer cooperation between the
insurance interests and the trust de-
partments of the banks. Insurance ex-
perts have learned that vast sums paid
in life insurance policy settlements
are often lost in an amazingly short
time by the beneficiaries. The flgures
they give to back their statements are
bewildering in their size.
Insurance men all over the country
are now trying to get the banks TO
branch out and secure the handing
of these large estates to the better ad-
vantage OF the holders. Much actual
poverty is reported from bad manage
naent of estates by those who are I'M
trained in such responsibilities. 1t is
clearly to the mutual advantage of
the banks and the insurance concerns
to check these losses if possible and
tomorrow's conference will take up
the matter from many angles with the
hope of practical results.
Union Trust Declares Extra.
The board of directors of the Union
Trust Co. yesterday declared the reg
ular quarterly dividend of Z per cent,
payable on January Is to stockholders
of record on December 81.
The directors also declared an ex-
ira dividend of " per cent which is
to be paid on December 10.
Commercial Distributes Bonus.
The Commercial National Bank has
cial institutions which are remem-
bering their employees with extra conf
pensation in connection with the holi-
day season. Yesterday afternoon a
Christmas bonus of per cent of
the yearly salaries was distributed to
all employees Of the bank.
Takes Position i'm Boston.
Miss S. Winifred Burwell, who long
has been an employe Of the National
Metropolitan Bank has resigned and
accepted a secretarial position in
Boston. Miss Burwell has been one
of the most enthusiastic workers in
Washington Chapter, American In
stitution of Banking. and at present
is chairman of the publicity commit
tee. The important duties of this
office fall upon the shoulders of Rob-
ert H. Lacey, assistant cashier of
the Columbia National Bank, vice
chairman of the committee.
Regular b. & o. Dividends.
The directors of the Baltimore &
Ohio Railroad have declared the reg
ular quarterly dividends of $3.50 on
common and 81 on preferred stock
Both are payable on March / to stock
of record January IA.
The Nunnally Co. today declaredS a
dividend of 25 cents per share at a
meeting Of the directors in New York
The previous semi-annual dividend
was so cents per share paid on
June 80.
Heard i'm Financial District.
w. w. Spaid, president of the Dis
trlct Bankers Associa ton, was back
At his desk today at w. B. Hibbs &
Co.
The Federal Reserve banks final
reports show that subscriptions to the
issue of $3.50, 000,0 900 Treasury certifi-
Gates of Indebtedness, dated Deem
Der 10. total S1,290,1I7, 500. The total
of subscriptions allotted was 1851, 761,-
900
Howard r. Norton, Alpheus E.
Riddle and Fred A. Smith were elected
directors of the Columbia Permanent
Building Association, each for three
years, at a meeting of the stockholders
yesterday
The big -Four" Railroad has asked
the Interstate Commerce Commission
for authority to issue SIS 900 900 in
Improvement mortgage Az per cent
bonds.
The Washington Bank Womens
Club will have a dinner and Christmas
party at the Huguenot next Monday
evening. A Christmas tree and several
other features will add zest to the
occasion.