Evening star., 1929-12-12

A canvas of the local banks maintaining
the clubs showed that the other parks
and trust companies had about the same
proportion Bankers say this Is Ilhe
record considering the enormous hufhpel
placed in the mails.
BANKERS stressed the importance again
today of the greatest care by merchants
and others in cashing these checkS. IN
case there is any question as to ldentl-
fication, all merchants should send the
holders of the checks to their banks
for their money. 1t is believed that all
cases where the checks were not re-
ceived on time now have been reported
to the banks. ..
The warning issued by Chairman
Eliot II. Thomson of the advertising
committee of the District Bankers AS
sociation has put the local merchants
on their guard. so that no more such
forgerieS are anticipated. In addition
to the forging of Christmas savings ciub
checks have been the usual NUMBER
of other holiday forgeries, or attempted
forgeries. In the holiday rush IN the
hanks several efferts have been made
by strangers to cash bad checks.
The protective committee of the Dis
trict Bankers Association Is another
committee that is particularly busy Just
at this time. E. j. McQuade; wee
nresident of the Liberty National Bank,
of which are keeping IN the closest
possible touch with local banking con-
cIitions in order to give the association
members full protection.
w. b. Hibbs Celebrates Birthday.
William B. Hibbs. dean of Washing
ton brokers and head of w. B. H1bbs d
Co. celebrated his siXty-f1fth birthday
anniversary Yesterday, receiving a host
of concentrations. He is in splendld
health and does not look to be Gay
over so.
Mr.. Hibbs has had fascinating ca
reer He was born in Gordonsvllle, va,
December II, 1864, and during ms ooy-
hood DAYS delivered newspapers In
Washington. His paternal grandfather
came to this country from England well
over 100 years ago, and his father was
the first white child of English parent
age born in Washington.
After his education in Washington,
Mr.. Hibbs Just naturally took to the
brokerage business and founded W. B.
Hibbs & Co., in 1889, having been head
of the firm ever since. His firm belongs
TO more stock exchanges than one can
count on his fingers-New York, Boston,
Philadelphia, Chicago, Washington, etc.
During the World War Mr.. Hibbs was
active on all the Liberty Loan commit
tees, rendering very valuable service 10
the Government.
Mr.. Hibbs belongs to the American
Bankers Association, District Bankers
Association, is a trustee in many mStl-
tutions, 32d degree Mason ana
Shriner and member of several fra
ternal orders and clubs, such as the
RACQUET Alibi and Chevy Chase. His
estate at LeeSburg Is one OF the snow
places in that part of Virginia. In
commenting on the market recently, he
declared that over 80 per cent OF the
people who lose money in Wall street
lose it because of overextenslon OF
their accounts.
Dividend and Bonus Voted.
At a meeting of the board of directors
of the Security Savings & Commercial
Bank yesterday, the regular quarterly
dividend of per cent and an extra
dividend of per cent were declared
payable December 81, 1929, to stock
holders of record December 26, 1929.
The directors also voted an addltlonal
Christmas compensation Of 5 per cent
to the officers and employees OF the bank
to be distributed Christmas.
At the regular December meeting OF
the board of directors of the Chevy
Chase Savings Bank the regular SEMI
annual dividend of per cent on the
capital stock was voted to stocKnolders
of December 20, payable December 81,
and $4,000 was added to surplus, there
by bringing the banks surplus to S25,-
600 which officials consider a splendid
showing for the young institution.
President Frederic Ernest Harrington
complimented his fellow officers and
directors upon the banks progress dur
ing 1929.
LanstOn Leads Local Market.
Lanston Monotype was the most ac-
tive stock on the Washington Exchange
in today's session. The opening sale
was 1l3 shares at 106. This was fol-
lowed by two more of 10 shares each
at the same figure.
Mergenthaler Linotype figured in two
sales totaling so shares at lot, the new
high price recently prevailing. The
stock is still selling eX-dividend.
Twenty shares of Washington Railway
&, Electric preferred came out at 95.
Commercial was the only bank stock
appearing on the board. There was
50-share transfer at 258. This is the
same quotation at which all the recent
sales have been recorded:
Bond trading was light. baby
Washington Gas IS, series B, sold at 103
and a $500 Capital Traction came
out at 90.
The regular meeting of the directors
of the Lanston Monotype Co. is being
held in Philadelphia today, j. Thilman
'Hcndrick and Karl w. Corby, of this
city, being among the directors present.
, Norfolk Southern Passes Dividend.
: The Norfolk Southern Railroad passed
the dividend due at this time on capital
stock
Dividend was renewed on the issue
at this time year ago, when a semi
annual dividend of SIPS and an extra
dividend of 81 were declared.
The annual meeting of the Depart
mental Bank will be held January IA.
Purchases of merchandise and farm
products by chain stores in 1880 will
aggregate S6,O00,O 100000, an increase of
.000,000,000 oyer 1929, William H.
Albers president of the National Chain
Store Association asserted while i'll
Washington to address President Hoo
Ncys council of business leaders.
Two Dividends Declared.
At meeting of the board of direc-
tors of Call Carl Inc, held on Deem
Der 10, Semi-annual dividend of 81
per cent was declared on the preferred
stock and 81 per share on the common
stock to stockholders of record on De-
cember 81, 1929, payable on January 10.
The board of directors of Anacostia
Bank at their monthly meeting yester-
terday declared the usual S per cent
quarterly dividend to stockholders of
record December %, making 20 per cent
for the year.
Hopewell H, Darneille, for the last
six years with the National Metropoli-
tan Bank, has joined the staff of the
NatiOpaI CitV On nf NeW York in tbpir