Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-18

vision Po tom a Y
Electric Power 6 -A21
per cent preferred Frank F. Nesbh.
came out at Ill.
Stocks now being quoted ex dividend in
clude Capital Traction, Emerson's Bro
mo-Seltzer "A" Mergenthaler Linotype
and National Mortgage d investment
preferred.
The newly listed Federal-American
National Bank & Trust Co. stock was
quoted today at so bid and 60 asked.
The newly listed Washington Gas Llgnt
4lzs, in which there have ALREADY been eL
several sales, was quoted today at 1873
bid and 991s asked.
The sharp rally on the New YORK
Stock Exchange late yesterday was the
cause Of much discussion at To-Day IS Ses-
sion. Local fnanciers do not expect any
extended advance, but hope that stocks
will be able to get away from the eX-
IRENE lows and thereby greatly NnpIove
sentiment incidentally, they report
considerable investment buying.
Nesbit on Metropolitan Board.
Frank F. Nesbit, Washington attorney.
was elected a director of the National
Metropolitan Bank at meeting late
Yesterday The new director Is serving
in the same capacity OF the board OF
the National Capital Securities Co. and
the National Underwriters Mutual IN
surance Co. He has also been secretary
of the Commission on Public welfare
Legislation.
he is a native of Washington, received
a his education in the public schools mere,
and graduated from the University OF
Michigan in 1917. After service in the
Georgetown University and is now
member of the American Bar Assocla-
ton and of the District Bar Association.
Mr.. Nesbit is a member OF PM Beta
Kappa and Beta Theta Pi fraternltles
and of the Phi Alpha Delta legal ira
ternity. Chevy Chase, Barristers' ana
LAWYERS Clubs.
Mr.. Nesbit was admitted to the par In
1919 and was first associated with Ham
ner of Jesse C. Adkins until the latters
appointment to the bench. He IS au-
thor of the book Resale Price Fixing
b. g. o. Declares Dividends.
Directors of the Baltimore & ONO
Railroad have declared the regular quar-
terly dividends of Sl.75 on common
stock and 81 on the preferred. FOE tne
wear ending December 81, 1880, the COM
pany estimates it's net income at S2l,-
t6o. ZIG after taxes and charges, equlVa-
lent after dividend requirements on the
q Der cent preferred stock to $7.45 a
share on ESQ.,, 954 common shares, COM
pairing with S28,767 ,90S, or $l1.24
share. on 2,349, GAS average common
shares during the preceding year, and
5000 a share on 2,562,934 common
The board of directors of the Mount
Vernon Savings Bank yesterday de-
clared the usual quarterly dividend OF
IL per cent payable December 81 10
stockholders of record December ~.
This bank voted the usual Christmas
bonus some time ago.
The Maryland Casualty Co. declared
the regular quarterly dividend OF oot2
cents a share on the $40 par stock, pay
able December 81, to stock Of record
december 1e. A dividend Of S1.12H2
per share was declared on the $25 par
stock not exchanged for the $40 par
stock as of record date, also payable
December 81
Branch Bank Hearings Postponed.
The House Committee on Banking
land Currency has decided to postpone
further hearings on branch banking and
related matters until after the first OF
the year. The committee has already
held extensive hearings on the subject
and anticipates completing them during
the present session of Congress. How
ever, there is little hope Of the form
ing of definite legislation dealing with
branch, group and chain banking be-
fore the next session Of Congress. It
Is understood that the members of the
committee have discussed the failure
of many banks in the South recently,
as wen as the important failure in New
York, and that this matter will natu-
rally be given special attention when
the hearings are resumed.
= Heard in Financial District.
Bids for the 100000 bond issue 10
be put out by the Washington Suburban
Sanitary Commission were opened yes
terday afternoon at the commissions
headquarters in the Tower Building.
All the bids were so low that the COM
mission decided to handle the issue IN
some other way.
Henry Ford, who visited President
Hoover Tuesday, said in Youngstown,
Ohio, yesterday, that he believes bust
ness recovery wiz start soon. The auto
magnate added, however, that he ex-
poets the recovery viii be slow.
New York banks appear to be keep
ing up with Washington in the decla-
ration Of Christmas bonuses for the
officers and all other employees. The
Chase National announced yesterday
that 1t will pay the usual Christmas
bonus to employees, based on length OF
service.
Bankers Trust Co. has authorized dis
tribution TO salaried members of its
staff and those of affiliated companies,
exclusive Of officers, a bonus ranging
from TO 10 per cent OF annual salaries
depending on length Of service.
Frank L. Dame, president of the
North American Co, in a statement to-
day expressed firm belief in the flu
ture of the electric light and power In
dustry and gave assurance of continu-
ance of the company's stock dividend
policy. i cannot see any approaching
saturation point in the electric light
and power industry" he said.