Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-06-27

monthly reports the second the grow
ing opposition to an increase in car
fares, and the third the strong oppo-
sition to all merger proposals.
Today's sales totaled only 20 shares,
so that holders of the stock are not at
all anxious TO part with it, The other
utility stocks were quiet. Thirty shares
Of Washington Railway g. Electric pre-
ferred sold at 99i2. Potomac Electric
Power 5i2 per cent preferred sold at
1864 and the per cent issue at Ill.
Riggs Bank stock moved at $50. Peo-
pies Drug at l0734, Security Storage at
1873 and Merchants Transfer & Stor-
age preferred at lot. Considerable
trading in Chestnut Farms Dairy pre-
ferred took place at l04. National
Mortgage & Investment preferred
moved at 5&. Washington Gas, Cap
ltal Traction and Potomac Electric
Power bonds came out at recent levels
Semi-Annual Dividend Declared.
The directors of the National Bank
Of Washington, at their regular meet
ing held today, declared the semi-an-
nual dividend of per cent payable
July 2, to the shareholders Of record
June 80.
In addition to the regular dividend,
the National Bank of Washington
added sufficient sum to its undivided
profits account TO meet any ordinary
contingency. The surplus fund was
recently increased to an amount equal
to the capital Sl,050,000.
The officers report satisfactory In
crease in business during the past six
months.
Savings Bank Declares Dividend.
The directors of the Seventh Street
Savings Bank have declared the regu-
lar semi-annual dividend of SIS per
share, payable June 80. to stockholders
Of record June 81. according to an
nouncement by John D. Howard, the
cashier. The last sale in this banks
stock was made at 270, but there is a
wide spread between that and the pres
ent bid-305.
Another dividend OF considerable To-
cal interest is that of the Norfolk g.
Western Railway. the directors yester-
day having declared the regular dis
bursement of 50 on common stock and
81 on the adjustment preferred stock.
The first is payable September 10 and
the second August 10.
B. e. O. Reports Decline in Net.
The Baltimore St Ohio reports net
operating income of S4,086,3f5 for MAY
against S4,343, $50 for May. last year
and for five months this year, si34l8..
39l in contrast to $17,306,278 in the
same period of 1927.
The largest decrease In the first five
months of the present year was in
freight traffic. Revenues from passen-
ger traffic were also of S799,027 during
the same period The road made ar
excellent record In holding down ex-
penses.
Credit Bureau Problem Pending.
One of the matters to which the Dis.
trict Bankers Association is likely tc
turn special attention during the com.
ing year is the proposed establishment
here of credit bureau. In this con-
nection the prize essay of H. T. BisSelle
of the Riggs National Bank is GER
tain TO draw careful study. This is the
essay which took first honors among
those written by members of Washing
ton Chapter, American Institute oil
Banking, and read at the recent con-
vention
It outlined a definite and practical
plan for the establishment of such q
bureau and its future operation. Many
bankers feel the need of some such
safeguard to prevent the overextension
of loans made by some clients with
different banks. There is, however, q
difference of opinion as TO Just how fal
the local banks should go in supply
ing information. Loans on real estate
are the ones most at stake, SIS collateral
loans are properly protected anyway.
IL. T. Bisselle has carried of three in.
stitute essay prizes and is already think.
ing Of going after another next year. Hi
is connected with the credit department
In the bank where he LIS employed, sc
that this years subject was one with
which he was especially familiar before
starting his special research on it. He Il
never so happy as when engaged in ar
essay contest.
American Ice Earnings Jump.
May earnings of American Ice Co
and subsidiaries before depreciation ant
Federal taxes were S404,1ll, compared
with 1854, 073 for May year ago. Fol
the first five months of the year net be.
fore depreciation and Federal take.
was s906,i79, compared with S673. 63(
for this period last year. This repre-
sents gain of over "a per cent fol
the five months.
In announcing the figures, President
Charles g. Small said that June earn
iDgs in all cities served by the compan,
were running at a rate TO indicate {
record first six months.
The directors have declared regular
dividend of ~ per cent on the com
pany'S preferred and SO cents snare
on the common.
award SI3,360, 900 Issues Tomorrow.
The most important municipal! salt
Of the week consists Of the $l3.360 ,U0t
issue Of bonds and registered stool
| which will be awarded tomorrow by tn
city Of Baltimore. There are eight sep
arate bond issues for sewer, building
school, library, paving and water pur
poses totaling $i0,6S2 900 and 1922 ,00I
per cent general improvement stool
and $i.756,000 S per cent school stock
Am. Tel. q Tel. Subscriptions Heay,
| With i've weeks remaining before tn
| first payment is due on the new Amer
| lean Telephone 81 Telegraph Co. stock
money is already pouring into the com
pany. Announcement Of the offerin
Of Si25, 100000 new stock at 800
share 10 holders Of record June /, Il
I ratio Of one new share for each 81
DDhtEI ilGlus Nd1 uldtlc hpOub Es6 WEEK
ago. To date the company has re
ceiVed some $4,000, 900 in subscription
and money Is coming IN at the rate q
$500 900 a day. These payments al
mainly from holders Of small amount
% stock and are in full,
The telephone company arranged fG
the spreading Of payments tor the ne
shares over eight months. the first pay
ment o. $40 being due August /, tn
second Of $40 on December ] and til
third Of $40 on April /. Those desir
ing TO do 80 may pay for the new stoc
In full August /.
The directors of the Second Nations
Bank today declared the regular SEM
annual dividend of per cent and til
usual extra Of III per cent, accordin
10 announcement by Victor u. Deybe
the pEesidsnk Aa.4....s-..,,.-.,...
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