Evening star., 1930-12-10

CneCKS 10 SOllClJOrS $S5
who ask for same
in payme mt of l tS4zssas 80
small amounts. wv, NJ vr,ut.,
DO not leave "'"S'
your printed check book or Cancelled
checks on your desk or in unlocked
desk drawers.
do not fail to report the fact i'm
mediately to us if your bank statement
does not reach you by the second of the
month.
DO not throw a deposit slip on which
you have written your name on and
which you have made an error into a
waste basket without. tearing it up
DO not fail to burn or destroy your
Cancelled vouchers when you have no
further use for them"
Union Trust Declares Extra.
Directors of the Union Trust Co, al
meeting late yesterday, declared an
extra dividend of 2 per cent, payable
December 18, to stockholders of record
December 13. The board also declared
the regular quarterly dividend of 2 per
cent, payable January IS, to sharehold-
ers OF record December 81, President E.
j. Stellwagen announced today
The board of directors of the Chevy
Chase Savings Bank has voted to pay
the usual semi-annual 2 per cent divi-
dend on the capital stock of the bank,
on December 81 to shareholders of rec
ord on December "a.
Directors of the Federal Storage Co.,
meeting late yesterday, voted the regu-
lar quarterly dividend of 2 per cent on
the company'S preferred stock, payable
January Is, to stockholders of record
at the close of business December 81
President E. K. Morris announced today.
The Western Union Telegraph Co.
has also declared the regular quarterly
dividend of 50 per share, payable Janu-
ary Is, to stock of record December %.
Williams Joins Riggs Board.
William NJ. Williams, now a Washing
ton lawyer, has joined the board of di-
rectors of the Riggs National Bank, fol-
lowing his election at the monthly meet
ing held late Monday. Mr. Williams
takes the place on the board of the late
John S. Larcombe. He formerly was
connected with the Government as a
solicitor with the Department of Agri-
culture and as commissioner of internal
revenue.
According to an announcement from
Waggaman, Brawner g. Co, Inc, the
asset value of United Founders Cor
poration common on October 81 was
$10.39, based upon market value of un-
derlying assets Of subsidiaries and mar
ket quotations for all minority holdings
including the substantial investment
In the Public Utility Holding Corpora
ton OF America and in the United
States Electric Power Corporation. The
asset value Of United Founders Corpo-
ration common was computed at a sub
stantially higher figure.
Deposits in 12~mutual savings banks
in Baltimore aggregated $198, ,704. .801 at
the close Of business october 81, 1890
higher figure than either S196, ,729, ,159
on September 30 1880, or Sl89 687 1T
on october 81, 1929. Time deposits in
55 regular reporting member banks on
November II totaled $3.50, 1926 900, which
also showed an increase over both
$25e,2os,0o0 reported on october Is
this year and S235, 1928 900 on November
13, last year, according TO the last re-
port Of the Federal Reserve Bank Of
Richmond.
Capital Traction at New Low.
Capital Traction sold on the Wash
inston Stock Exchange today at 4634
for two 10-share lots. a new low.
Commercial National Bank stock
came out at 223, Washington Gas Light
at 119 for only two shares. while Ian
ston registered l01. Today's sales were
too small to make a market in any
stock.
The bond market was led by Wash
1ngton Railway & Electric As which
AAA NAAaNC ~4sVOO oAlO kWO SGUUU
sales at 677s. The remaining bond
trading was confined TO Washington
Gas and Georgetown Gas issues at re-
cent levels
Business Balance Favorable.
This is the season when a slowing
down OF manufacturing activity Gus
tomar1ly occurs TO offset the expansion
in retail trade and there Is no evidence
that business has slipped any lower
in the cycle during the past month, but
the balance, If any, is on the side of
the favorable developments says the
current issue of the American Bank
ers' Association Journal. The journal
continues.
Extreme pessimism today would be
as unwarranted as extreme optimism
was a year and one-haIf ago. Manu-
1aeturers and merchants, with the false
upturn and subsequent reaction in bus
mess this Spring still fresh in mind, will
naturally move slowly in their commit
ments for merchandise or their expan-
sion Of plant facilities The condition
OF the member banks in the Federal
Reserve System has been steadily
strengthened by the continued liQuida-
ton Of secured loans
The suspension Of banks last month
some OF which have since reopened, was
distressing development for the com
munities concerned but the banks were
with few exceptions, relatively small and
the effect upon the general business
situation Is therefore not believed TO be
serious.
THE backing and filling that has oc.
Cured in commodity prices lends strong
support to the belief that the genera
price level is finally becoming stabiliz-
ed, which, If true, will bring an end tc
inventory losses and cause BUYERS who
have been awaiting the bottom prices
TO again come into the market for the
purchase OF their normal requirements.
Other Financial Notes.
The Virginia Railway has declared 9
dividend Of SO on the common stock
payable December 81 TO stock of recorc
December l3. The SO dividend on the
common Is the same as declared at thi,
time last year. In the preceding three
years the annual dividend was ST.
Oherlng is being made of $4,000, ,00(
Virginia Public S,rvice first and re.
funding per cent bonds series D. due
1850. at go, to yield $50 per cent. b,
. syndicate headed by E. H Rollins &
Sons.
It Is officially announced at the De.
paTtment OF Justice that an inyeStiaa.
ton Is being undertaken to determine
the reason for the spread between tha
wholesale price Of bread and the cos
of raw materials used in the baking O
bread.
Pathe Exchange stockholders are u
vote, January 5, on the sale of asset
TO dio-Keith-Orpheum, under which
company will receive an estimated $4,
! $4,000 or more.
Smith. Graham g. Rockwell
satisfactory economic conditions ar