Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-11
RIGGS PAYS USUAL
: DIVIDEND OF $3.50
king Elected to Advisory
Board-Departmenta Bank
I Names New Officials.
BY EDWARD C. STONE.


noted elsewhere in The Star
President Robert v. Fleming stated to-
day that he had first thought of asking
Commissioner Taliaferro to become con-
nected with the bank about year ago.
But he did not mention the subject to
him since he was engaged in rendering
public service to the District. Mr.
Fleming feels that Mr.. Taliaferro's ex-
ecutive experience will be of particular
value to the banks rapidly growing
trust department In this move Presi-
dent Fleming had the hearty cooper
alton of Frank J. Hogan, the banks
general counsel.
The appointment of LIE Roy King of
Georgetown as a member of the adviS-
DRY board of the Farmers e. Mechanics
branch keeps this family still closely
identified with Riggs. Mr.. King succeeds
to the vacancy occasioned by the recent
passing of his father, William King, who
was formerly president Of the Farmers
g. Mechanics National Bank and for
many years one of the leading coal
merchants of Washington. LIE Roy King
is the third generation of the family to
serve in a directorial capacity at the
Farmers e. Mechanics Bank.
The Riggs National dividend is pay
able April is to shareholders Of record
March 81.
Two Assistant Cashiers Elected.
r. r. Lizzi and Mrs. M. o. Wallace
have been appointed assistant cashiers
by the Departmental Bank. Mr.. Lizz
started with the bank about seven years
ago as individual bookkeeper and has
filed the positions of general book
keeper, receiving teller, note teller and
paying teller.
Mrs Wallace went to the bank from
the Marine Trust Co. of Buffalo, N. Y,
several years ago as a bookkeeper, sub
SeQuently becoming general ledger book
keeper and now in charge of the loan
and discount department, President j.
T. ExniciouS announced today.
The selection of Mrs. Wallace places
her in the very limited group of woman
bank officials in Washington banks. 1t
is understood that there are only three
other women holding similar positions
in the city.
North Americans Net Up.
The North American Co., holding
company for public utility properties
in California, the District of Columbia
and neighboring territory, and in areas
centering in Milwaukee, st. Louis and
Cleveland, today reported net earnings
for 1929 of s28, S06, 1924, as increased
from $24, 400, 753 in 1928. Earnings per
share on the average number of COM
mon shares outstanding in each year,
after deduction OF preferred divi-
dends, amounted to $500 and $4.6s.
respectively.
Gross earnings increased 900 per cent,
while net operating income increased
1915 per cent, rejecting decrease
from SAG per cent for 1928 to 51.73
per cent for 1929 in the proportion of
gross earnings required for operation,
maintenance and taxes. After deprecia-
ton and deductions for reserves the net
profit showed an increase over 1928 of
1880 per cent AS Of December 3, total
asserts were carried at 1902, 759, 283, an
increase for the year Of approximately
SGT 500 900. Cash on hand totaled $10,-
35a,2e3, as slightly reduced from the
$l1.835,97l at the end OF the previous
year.
The annual report to stockholders
saws: Continued cooperation has been
accorded the Federal Trade Commission
by the North American Co. and its sub
salaries In the matter of supplying In
formation requested in the tnvestiga-
tons which the commission Is conduct
ing pursuant to resolutions Of the United
States Senate"
American Stores Co. Sales.
Sales of the American Stores co. for
February amounted to $l1,34254O
against $II ,227,6l6, or an increase of
/ per cent over the same period last
wear. Sales for the nine weeks ended
March / totaled $24, 169 ,233, in COMPARE
son with $24 1887 ,989 in the same period
last year, decrease of 2 per cent.
Emerson's Drug Go. OF Baltimore
City, Citro Chemical Co. OF America
and Maryland Glass Corporation have
released their earnings statements for
the year 1929. the combined figures
showing the following:
Operating profits and other In 90. "a
cSSrFes to income. including de-
probation and Federal taxes. ell'SSs.oO
After deducting preferred dividends
there Is an amount applicable TO class
A and B common stocks OF 1926 per
share. The company Is now paying an
annual dividend of 50 share on class
A and B common stock. Ennals Wag-
gaman of this city is a director in the
Bromo-Seltzer Co.
ID. C. Exchange HOnOrs Taft.
The Washington Stock Exchange adj
ruurned its daily session out Of respect
TO the memory Of the late William
Howard Taft.
Considerable business, however, was
transacted a short session before the
Exchange closed. Fifty shares OF Capt.
tai Traction changed hands at 30. 70
tomac Electric Power 51a per cent pre-
ferred closed at 1O75k, Federal-Amer-
lean Co. common sold at 20 and l0o
shares of National Mortgage g. Invest
ment preferred at as.
Ninety shares of Carpet Corporation
sold at 23h-H and five shares Of
National Savings e. Trust moved al
Capital Traction bonds were steady.
Notes in Financial District.
Robert L. Pierce, president Of the
AF UiPyfnia
at Wytheville, is visiting Washington
for few days
John Poole, president Of the Federal
American National Bank. is now a.
Atlantic City. He plans to attend the
bank management conference in Phila-
delphia, March IA and is. Vice Presi'
dent william j. Eynon, OF the same
bank, is in Florida on vacation.
George E. Walker, director IN thu
Federal American, has returned from g
trip TO California, and another director
w F. Brenizer, has returned from &
trip to Hot Springs, Ark.
Robert H. Lacey OF the Columblt
National Bank, who is chairman OF thu
membership committee Of Washington
Chapter, A. l. B., reported yesterda!
that the drive has brought IN over 80I
members this year against 76l IN 1929
Commodity Prices Decline.
Commodity prices declined six-tenth
of / per cent during the week endeC
March 8, according to the WHOLESALE
price index of the National Fertilize
Association. For the past two weeks tn
decline has amounted to / per cent, TO
three weeks it has been 2 per cent. ant
the index is now 7.3 per cent lower thar
for the like date year ago.
Thirty-six items declined during tn
week and II advanced. Five groups de
clined and three advanced, but only on
showed a material advance. The nnl