Evening star., 1927-12-16
OFFERS EMPLOYEES
STOCK IN CONCERN
Security Storage Sells Its
! Workers Shares on Advan-
E:kS. tageous Basis.
BY WARD C. STONE.

-
,the Security Storage Co, announce
t1oday that through the cooperate
fof- the American Security & Trust Co
(which is the largest stockholder
sfhe storage concern. plan has bee
worked out for offering stock in tn
Icompany to officers and employees o
sadva ntageous terms. The. plan ha
lalready been submitted to the en-
kployes. who have very generally take
advantage of it.
The stock is being sold to the con
Apany's personnel at $l10 per share
1.-THE company loans the money 10 pa.
kfor it, at per cent, on a month";
Mayment plan extending over a perio
fof years. In order to encourage tn
femployes to purchase the stock, IN
ktorage company also guarantees tn
holders a special dividend of 81 pc
Share for the next five years.
The directors consider that the new
,plan establishes a community OF III
ferest between employees, management
and stockholders that will be mos
helpful to every one. Several month
aro. when the stock was selling
around $500 a share, the compan.
spIit it into four shares for one. Th'
last sale in the new stock was mad
at 129La. while yesterdays bid pric'
on the local exchange was 12S, will
135 asked.
Banner Automobile Year Forecast.
The output of automobiles will reach
4 new high record in 1928, says the
alexander Hamilton Institute. There
Hs evidence that the demand next yeal
Ewill be sufficient to justify an output
Inf 5000, 900 motor cars, as compared
eSvith $500. 900 in 1927 and 4,2l9,0O0 ir
a926, the previous high record.
The chief factor is the outlook fol
h replacement demand considerably in
excess of that for any previous year
Not only will the normal replacement
demand be the largest on record. but
This will be augmented by part of the
normal 1927 Ford replacement demand
carried over into 1928.
The export demand, which has been
showing a steady increase since 1921
should continue to gain and also reach
4 new high record next year.
Northeast Bank Votes Dividends.
The board of directors of the North
EAST Savings Bank, besides declaring
their regular 4 per cent semi-annual
dividend, have also declared an extra
dividend of 1 per cent to stockholders
of record December 20, payable De.
cember 81. In addition, they set aside
$4,000 20 the surplus fund. making 1t
$4,000. and voted to give a generous
bonus to the officers and employees OF
the bank.
Commercial Enlarges Extra.
The directors of the Commercial Ma
tional Bank met yesterday afternoon
and declared the usual quarterly diyi.
iend of 1 ~ per cent. They also voted
an extra disbursement OF / per cent
instead of u of / per cent as in the pas
The dividends are payable January l
TO stock of record December 22. In
cluding the 10 per cent special dlvi'
dend, with which stockholders in the
hank purchased common stock in the
Commercial National Co., the directors
have declared 261a per cent in divi-
dends in the past two years.
Bethesda Bank Has Best Year.
Walter r. Tuckerman. the presi,
dent. told the directors of the Bank
of Bethesda last night tina. the insti
tuition is rounding out the bes yeal
in is history. The semi-annaul DIVIDEND
of 3 per cen was declared, being pay
able to stockholders of record on De
cember II. The board transferred
$1,000 from undivided profits to sur.
plus.
The president announced that de-
.posits had reached new high marx
this year of se43,000, adding that div
k1dends had been earned twice over.
IUndivided profits, he reported. are
F424,0o0 on a capital of 800.
During the meeting Mr.. Tuckerman
made the announcement that he plans
TO retire from the presidency at the
end of the fiscal year in order to give
all his time to private business.
Local Securities Strong Today.
T, Local securities were strong again
today. Potomac Electric Power pre-
ferred per cent stock sold at 112ss
the 5iz per cent up to 1868. Capita
Traction at 109 and 1914. while 81
shares of Gas Light again sold at S4.
Railway & Electric preferred made
new high when it reached 1003s. the
days turnover being 105 shares
Ianston Monotype also scored new
peak when it climbed to 110. Peoples
Drug Stores preferred came out at the
high price of 121K. National Mort
gage & Investment preferred opened
on sales totaling 450 shares.
Bonds were firm. The first transac
tion was in Washington Gas 6s, series
b, at 107. Capital Traction 5s regis
tered 104, while $1,000 and $1,000 sales
in Potomac Electric Power 6s took
place at 1881, equal to the recent
high for the year.
Bankers Bullet0n Appears.
The December Bulletin of the Dis
trict Bankers Associate has mad,
its appearance. 1t announces that th'
next meeting Of the association viii
toIy ,,1a Ia
Harry V. Haynes. chairman OF th'
protective committee. makes an i'm
portant report which shows that 'th'
number Of checks returned to the loca
clearing house is being steadily re
duced.
The record amount in savings in tn
Christmas clubs during the past yea
is noted and attention called TO tn
fact that 29 banks are now offerini
this form of thrift to the depositors
The Post Office Department is laude
for the manner in which the Chris'
mas checks were handled.
Other Financial Notes.
The Washington office of F. E
Keech & Co. is offering a new issu
of youngstown Sheet Tube Co. firs
mortgage sinking fund 5 per cent goi
bonds due January /. 1878. The bond
are priced at 101 and interest, to yiel
about 4.95 per cent.
Public offering was announced Il
day of $780, shares of $3.50 cumuls
tive preferred stock of Loew's, IL
corporated, motion picture concern,
500 a share and accrued divident
The marketing syndicate is headed
Dillon, Read & Co.
The weekly Reserve Bank statemer
showed an increase in use OF Feders
Reserve credit both in the system 9
whole and in the local NTH distric
Bills discounted at the Richmond il
stitution increased approximately 81
600 900 in a week to $50, ,839, 900, an
in the entire system were $51 ,O66.0C
higher at $494,973 900.
Announcement is made that the d