Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-14
W|MSATT IS NAMED
AS BANK DIRECTOR
Lumber Company Official
Succeeds Father on National
Metropolitan Board.
BY EDWARD C. STONE.

BY EDWARD c. STONE.
George w. White, president of the
National Metropolitan Bank, announced
today that w. Kurtz Wimsatt, first vice
president of the johnson &, Wimsatt
Go, wholesale lumber dealers, was
elected a director at meeting of the
hoard yesterday afternoon. The new
director succeeds his father, the late
William A. Wimsatt, who was a member
Of the banks board for nearly 40 years.
w K WimSatt is a member or an
old Washington family and has been
a leader in the lumber business mere
for years. His election is in line With
the banks policy of placing sons on the
board whose fathers rendered long ana
distinguished service in the same
capacity. The Metropolitan is some
times referred to as the bank OF gen.
erations."
A glance at the present board of
directors makes readily apparent the
reason for this assertion. r. M. Kauff-
mann was elected to the board to
succeed his father. the late Rudolph
Kaufman, who many years previously
had been added to the board to MI the
place of his father, Samuel II. kaur-
mann.
O TT. p. johnson, another director
and also vice president. took the place
of his father, the late E. KurtZ Johnson,
on the board. E. Francis Riggs 1olioWeo
his father, E. Francis Riggs, Whlie
Henry A, Willard I'd. succeeded his
father. H. <. willard. who in turn mao
taken a seat on the board in the place
left vacant by his father, H. A. Willard.
Then there is the president, George W.
Uri1ite who followed his father, the late
q II p. White. Few banks have
similar record and incidentally there
are few banks which are 1l5 years olo.
CaritaI Traction Market Feature.
Activity in Capital Traction stock
featured today's session of the wash
inpton Stock Exchange. the stock SELL
ing down to 10l for the first time In
many months. in fact, more than a
wear The stock opened at 1914, the
high for the day. The sales were IN
10. 20 and 80 share lots, reaching 121
shares.
Small lot sales took place In Potomac
Electric Power per cent preferred at
l134, in the SIG per cent issue at loSs4
and in Washington Gas Light at ll3.
Chevy Chase Dairy. preferred SOLO at
no. Sand & Gravel preferred at 92Ss
and Mergenthaler Linotype at 107h2.
Federal American Co. common came
out at SO and ITO shares OF the Ma
tional Mortgage g. Investment preferred
changed hands at 5s4. Two shares OF
washington Railway & Electric pre-
ferred moved at 977s.
Two banks stocks appeared on the
board. Federal American National sell
ing at 343, while the Bank OF Eetnesoa
opened at 8134 and closed at 8212, the
DAYS turnover being 40 shares.
Telephone. Potomac Power, Barber q
Ross and Washington Gas Light bonds
figured in sales at recent levels. In the
stock list Mergenthaler, Chestnut Farms
Dairy preferred and Peoples Drug
Stores preferred are now quoted ex-
dividend.
Pennsy Dividends, S896,217,481.
Annual compilation of cash dividends
paid by the Pennsylvania Railroad Co.
shows that the stockholders have re-
ceived total dividends amounting to
S8e6,217, 481. The payment OF this sum
has extended over the period from 1890
to 1928. inclusive.
upon their investment in every year
since the company was incorporated.
In the earlier years, which covered the
period of initial construction, these
payments were designated interest. The
first installment on subscriptions to the
original capital stock was paid in April,
1S47. In May, 1848, the first payment !
of interest was made at the rate OF
per cent on the paid-in value of stock, |
and this was continued until Novem. |
Der /, 1855.
Beginning with 1856, as the opera |
tions of the company had by that time !
reached an extensive scale for the Pc
~ics end were remunerative, the re-
turns to the stockholders were desig-
mated as dividends. In 1856 dividend |
of 8 per cent was paid, which covered a |
period of IA months from November /.
1855. to December 81. 1856. Cash |
dividends have been paid in each year |
since that time and the average rate
has been a little over per cent an
nually.
In addition, stock dividends were
paid as follows: In 1864, 80 per cent;
in 1867, per cent; in 1858, per cent.
Scrip dividends, redeemable in cash or
stock, were paid in these years: In
1873, per cent; in 1880, per cent;
in 1882. per cent: IN 1888, per cent;
in 1884, per cent; in 1891, per cent;
in 1893, per cent.
Heard in Financial District.
Charles j. Bell, chairman of the
board of directors of the American Sc
curity & Trust Co., who had been con-
fined to his home with illness for about
a month, was operated upon Tuesday
at the Episcopal Eye, Ear and Throat
Hospital for mastoiditis. Mr.. Bell was
reported today as making steady re-
covery.
L. w. Todd, manager of the Wash
de- IS o., ~ de-
passing two weeks vacation at Atlantic
City
john D. Leonard and James A. Soper
have been added to the District Bank
ers' Association convention program
committee.
The council of administration of the
District Bankers Association will decide
in short time the subject for the essay
contest open to students in Washington
Chapter American Institute of Bank
ing The winners of the first three
places in the contest get rewarded by
trip to the bankers convention in June.
At the meeting of the board OF di-
rectors of the AnacoStia Bank held
yesterday afternoon the regular quar-
terly dividend of S per cent was de-
clared, according to announcement made
by President Maurice Otterback.
The board of governors OF Washing
ton Chapter, A. I. B., have adopted spe-
cial resolutions on the death of B. Ash
by Leavell, who was an honored mem
Der of the institute faculty and trust Of
fcer of the Merchants Bank 81 Trust
Co.
Evans Urges Investment Caution.
Women. as investors are playing q
significant part in the Increased actlV-
ity of the country's security markets,
IN the opinion of Joshua Evans, jr:. vice
president of the District National Bank,
who recently spoke on Investments and
Credit" before section Of the Twenti-
eth Century Club
He urged the utmost caution in the
purchase of stocks and bonds at this
time and pointed out the wisdom OF