Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-31
Local Bankers on Vacations.

Local bankers continue to enjoy their
annual vacation periods and are COM
ing and going at lively pace.
Edward j. McQuade, vice president
of the Liberty National Bank, leaves
here tomorrow for New York and on
Saturday will sail for the Pacific Coast
by way of the Panama Canal.
President Corcoran Thorn of the
American Security G. Trust Co. is back
at his desk after his trip to Europe.
President H. w. Offutt of the Poto-
mac Savings Bank leaves here next
week for two-wets. vacation at Cape
May.
Harold w. Burnside assistant man
ager of the Farmers & Mechanics
branch of the Riggs National Bank, in
Georgetown. has returned from a
months vacation passed at Epping
Forest.
Laurence r. Leeby and August
Schmidt, jr., of G. NJ. P. Murphy g.
Co, will leave here this week via air
plane for a months stay in Texas.
Herbert w. Primm, assistant real
estate officer of the Washington Loan
g. Trust Co.. is motoring to Wildwood
Crest, N. j., for two-week vacation.
Pay Boost to Aid Trade.
Controller General McCarl estimated
that approximately 10000 Government
employees will benefit by the recent raise
in pay and that the total increase will
be about 100000 per year.
The estimate is based upon the fact
that some 5000 employees will receive
raise of $50, that probably the same
number will receive an increase of $500
and about the same number will receive
an increase of 5000, while something
like 1000 will receive an increase of
approximately $500.
This means something like $500, 900
per month which will find its way into
savings deposits, investment and trade
in Washington in addition to the
amounts which have been habitually
dispersed by the Government and
turned into the above channels. This
amount is certain to be a distinct help
in the expected business revival this
Fall.
Coffee Firm Votes Dividends.
The board of directors of the Dip
lomat Coffee Co., of this city, has de-
clared the regular dividend on the pre-
ferred stock at the rate of 8 per cent
per annum, and a dividend on the
common stock at the rate of per cent
per annum. Both payable 10 stock
holders of record as of July /, on Au-
gust Is, 1890. The transfer books will
not be closed and checks will be mailed
do SDOil do pDSolDlC dlbCA billo 0dlNb az
cording to President w. E. Smith.
Insurance Men Plan Outing.
The Summer outing of the District of
Columbia Life Underwriters Associa-
ton will take place Thursday afternoon
August Is, at the Indian Spring Golf
Club, it was announced today. Golf
will feature the afternoon and bridge
the evening entertainment, while the
radio will furnish the music for dane
ing. The members will have a dinner
at $780, The officers expect the largest
attendance they have had at any OF
these outings.
Trading on ID. c. Exchange.
Trading was unusually quiet on the
Washington Stock Exchange today. The
first transaction was in Steamboat
rights, which sold at 16 and later sold
at i6Ss. Ten shares of Lanston Mono
type at 1872. Two $500 bond sales
in Capital Traction SIS were recorded
at 94l2, while $500 Washington Gas SIS
changed hands at 104.
The vice president, Edward L. Hillyer
has been presiding at recent sessions o.
the exchange. The president, Georgt
o. Watson, is expected back from his
vacation next Monday.
Southern Corporation Mails Report.
Copies of the annual report of thu
Southern Corporation, Of which Herber
J. Adair is president, were sent toda.
to the stockholders. 1t is the frs
annual report and covers operations Il
June 80, 1880. the company having beer
formed on July 2, 1929.
Operations for the period from tn
date OF organization to June 80, 1890
the report says, resulted in net prof
of $282, 499 90, which is represented a
surplus at the beginning of the curren
fiscal period The corporations ne
assets amounted to s4,655,555.78, taEin
the securities at their market value
The corporation had no funded debt
bank loans at June 80, 1880.