Evening star., 1928-12-21

I1Z. SlXGy SnareS SS#A &k&$&$#$A
of Lanston Mono YIN :SI
type changed hands sT
at 1882. EEz&s'- al''--'--4--.
In the bond divi- Euot IT Tbousor
sion Potomac Joint
Stock Land Bank bonds appeared on
the board, selling at 100. The remainder
of the bond trading was largely in the
utility issues, which maintained recent
levels.
More Local Dividends Declared.
The directors of the National Capital
Bank at a meeting held yesterday aft
ernoon declared the usual semi-annual
dividend of per cent and an extra
dividend of l per cent, both payable to
stockholders on December 81, according
to announcement by President H. H.
| Mckee.
The directors of the International
Exchange Bank have voted the regular
Semi-annual dividend of 1-3 per cent,
payable January Is to stockholders of
record December 20. President John r.
Waller reports that his institution has
| enjoyed steady growth and prosperity
| during the year.
The Woodward & Lothrop Co. has de-
clared the regular quarterly dividend of
| l34 per cent on the preferred stock,
| payable January / to stockholders of
record December 81. The company's
| preferred stock is listed on the local
| Exchange and sells around ITO.
The Security Storage Co. directors
have declared the IA per cent quarterly
dividend and an extra dividend of l
| per cent according to announcement
made today. It is payable December l
| to stock of record December 27.
/ The directors of the Potomac Savings
! Bank has declared the usual per cent
I semi-annual dividend due at this time.
Christmas Clubs Still Growing.
All the banks report that their Christ
mas Savings Clubs for 1929 are still
growing rapidly. Eliot H Thomson,
of the District Bankers Association,
| and his associates have received hearty
congratulations on the success of this
| latest campaign. The cooperative ad-
vertising prepared by this committee is
! the biggest factor in the amazing growth
of these clubs in Washington in the past
four years.
The newly appointed Christmas Saw
ings Club committee announced in the |
associations monthly bulletin. will not |
assume any of the duties of the adver- |
tising committee. 1t will attend to |
many of the details in connection with |
these clubs, such as arranging the |
same dates for all of them to be opened |
and closed, and making the different |
classes uniform, etc.
New Treasury Issues Allotted.
Secretary Mellon announces that |
| total subscriptions for two issues of |
Treasury certificates of Indebtedness |
dated December Is last aggregated |
| $63l ,182, 900. The certificates bear 414 |
s,akA AHI 1{
| 100000 was allotted. The nine month. |
issue allotment totaled $209,918,50 |
| The certificate ISSUE which runs for one |
year, amounted ito $310,245,5 500.
The Richmond Federal Reserve Bank
received subscriptions for the first issue |
of $16,219,500 and was allotted $14,866,- |
| 500. For the longer term issue the |
Richmond bank received requests for |
$9,042,500 and was allotted $8,565, 900. |
! Banks Hold Christmas Parties.
/ The members of the staff of the Lib
| erty National Bank held their annual |
| dinner and Christmas party at the bank |
last evening. Presents were distributed /
beneath a huge Christmas tree, which |
| lights up the whole lobby.
The Security Club of the American |
! Security g. Trust Co. also celebrated |
with an annual Christmas dance and |
card party at 2400 Sixteenth street last |
night r. D. Lewis is president of the |
] club, and arrangements we're made by
| William French and Mrs. Minnie Nc |
Carly.
! The Christmas party of the Federal |
| American National Bank will be held |
| tomorrow evening at the Columbia |
Country Club. Dinner will be served at
z o'clock, followed by an elaborate en-
| tertainment.
The employees of the home Office of
the Acacia Mutual Life Association will
have their Christmas party next Mon
| day morning in the auditorium of the
new Acacia Building. All employees are
being given half days leave this week
for their Yuletide shopping,
Latest Financial District Notes.
Thomas P. Hickman, vice president
of the Franklin National Bank, plans
to leave Washington Monday for a short
outing in Florida.
j. William Harrington of w. B. Hibbs
& Co., who has been suffering with an
attack OF pneumonia, experienced set
back few days ago, but is now reported
as somewhat improved.
Edward l.. Hillyer, vice president of
the Union Trust Co., was reported
as slightly improved today following a
relapse two days ago when his tempera-
Cure clmDeQ 10 l06.
President Craig B. Hazlewood of the
American Bankers Association will be
the guest speaker on the Halsey, Stuart
radio program on Thursday evening,
December 27 taking for his subject
The Need for an Investment Pro-
gram for individuals, Corporations and
Banks"
Julius l. Peyser, president of the
Security Savings and Commercial Bank,
has been named vice president of the
Community Chest.
Trust Power Expanding Rapidly.
In his annual report Controller j. w.
Pole said regarding the rapid develop
ment Of trust powers by national banks:
"A total of 2,373 national banks had
been authorized to exercise trust powers
on october 8, 1928, representing 81 per
cent OF the total number of all national
banks and 73 per cent of the total cap
italization of the banks in the national
banking system. This represents an in
crease of Al per cent over the number
authorized in 1921 to exercise trust
powers and an increase of 253 in the
number holding fiduciary permits at
the time of the passage of the Nc
Fadden act. The number of national
banks obtaining the right to exercise
trust powers is now increasing at the
rate of more than 200 banks a year."
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