Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-07-17
Exrlains Dividend Diseontinuance.

l04i.. Two 81 900 sales in Army ant
Navy Club IS took place at SO.
Exrlains Dividend Discontinuancc.
living y, RoSSheim. president of Stan
ley Co. of America told stockholders a
| the annual meeting in Philadelphia
| that the lower earnings of the compan,
and diScontinuance of the dividend wert
/ the result of increased costs of carry
ing on the business. This increase wa
attributable principally to the cost o
/ leasing films
| Film contracts covering the theatel
year of 1928 had proved costly. Mr.
RosSheim said The contracts expir,
in September and the management ha.
| taken steps 10 insure more favorable
contract terms for the theater year o.
! l928-29
| To Offset increased operating cost.
many economies have been put into eff.
| feet, expected to result in saving ap.
proximately $4,000 a year.
Officers are taking steps toward list
ing the stock of company on the New
York Stock Exchange.
Ba Pays Semi Annual Dividend.
The international Bank has mailed
checks to stockholders covering the
sel.li-annual dividends of $3.50 pei
share. With the dividend John r
Waller, the president. has forwarded a
element of condition on July 8, 1928
and message giving his views on what
may be expected during the last hall
year.
George M. Furman has been placed in
charge of the banks income, inheri-
lance and Federal estate tax depart
ment. President Waller calls attention
70 the great changes in the money stu
alton since his last report. He sees no
at present, as evidenced by steady or
declining commodity price levels. The
next six months should favor prosperity
he asserts. That most important barom-
eter, car loadings, now compares favor
ably with 1927: steel and farm imple-
ment operations are at high level. and
the automobile industry is making new
records. Coal and textile industries
are still unsatisfactories.
Mr.. Waller refers to the newly or
ganized Washington Wimsett Co, ano
believes it viii help many salaried peo-
pie finance their needs The local COM
pany has an authorized capital OF $780,
600 and is one of 100 such concerns
in the largest cities of the country. II
is making loans under plan similar to
that recently adopted by the National
City Bank in New York. In conclusion,
Mr.. Waller predicts great economic gain
for Washington through the Govern
ment building program.
Many Bankers Taking Vacations.
William ]. Father. veteran vice presi-
dent of the Riggs National Bank, has
gone to Maine TO spend the rest of the
Summer at the Poland Spring House,
joining several other Washingtonians
already there
Charles E. Boyer. cashier of the Fed
eral-American National Bank, is passing
his annual vacation in Ohio. He left
here by motor and is visiting his wife's
relatives at Findlay
Howard Moran, vice president Of the
American Security &, Trust Co, is
spending a week at Ocean Grove, N. j.
w. w. Marrow cashier of the Second
National Bank, is another local bank
official now on his vacation. He plans
TO visit several different places while
away from the city
Charles E. Bright, manager of the
local Clearing House Association. is
back at the National Metropolitan Bank.
very much improved in health. Mr..
Bright recently has been at Virginia
Beach
Harry v. Haynes. president of the
Farmers 81 Mechanics National Bank,
IN Georgetown, will start on his vaca-
ton next week, spending most of his
time at resort on the New Jersey
coast.
Nelson B. ONeaIe, one OF the assist
ant cashiers at Riggs has returned from
motor trip TO Canada.
e. j. McQuade, vice president Of the
Liberty National Bank. is in New York
TODAY attending the regular meeting of
the directors Of the Mergenthaler Limo
type Co.