Evening star., 1931-12-09

elected today in Henry w. onutt.
clude Alphonse M.
Baer, vice president; B. Agee Bowles,
vice president; c. Wendall Shoemaker.
cashier: Emery H. Bogley, secretary;
Flmore II. Burdette, assistant cashier,
and George w. Offutt, jr., attorney.
The stockholders of the bank met
yesterday afternoon in Alexandria for
their annual meeting. as the bank was
chartered in Virginia. The directors
elected were William P. Ames, William
W. Anderson, Alphonse N. Bear. Emery
H Bogley B. Asee Bowles, William H.
Clarke, Davenport B. Elgin, James @.
Hoyle. Malcolm W. Morgan, George w.
Offutt, jr.; Henry w Offutt, G. Wen
dali Shoemaker, j. William Stohlman,
Henry A. Storm, ]. Clinton Tribby, Jo-
seph M. Wise, Harry K. Hobart and
Frank A. Kerr.
MIR, Kerr is new member OF the
board. He has been plumbing con-
tractor in Georgetown for the past 25
years, having an establishment on Wis
consin avenue.
virginian Railway Cuts Dividend.
The virginian Railway has declared
q quarterly dividend of 81 so on the
common stock, payable December 81 TO
stock of record December IL. This
places the stock on So annual basis.
In 1929 and 1880 the company paid an
,nual dividends Of So each.
The company issued following state
ment:
Board of directors Of Virginian Rail
way has determined it to be in the in
terest of the corporation and in the
future the question of the declaration
of dividends on the common stock be
,ufA ri al y1f atT9tf1al1g
as heretofore In accordance with this
policy quarterly dividend Of 1lt per
gent on the common has been declared,
payable December 81, 1891, to stock
holders of record December IL.
Earnings of the road for the past
year will show. after all charges and
payment OF the usual per cent pre-
.ferred dividend, over IS a share on the
common stock. The usual expenditures
for maintenance to keep the property In
Ats high state of condition and efficiency
have been made.
g-K-p Meeting Tomorrow.
Action eof the, R~K-p stockholders
. Protective League in approval OF the
sR-K-O refiuaneing plan has had q
5Jmost beneficial effect locally in as
sisting Hardie Meakhi, manager of
sR-K o. -Keithss Theater, In his quest for
xproxies covering the meeting TO be held
ain Baltimore tDnorrow.
The Protective Committee in q state
Iment authorized from its New York
headquarters Endorsed the debenture
splan of refinancing and also agreed
with the management of the corpora
tion that 1t was the only means pos
sible, at this time, to raise the needed
additional funds.
A Indications are that the required
4wo-thirds of the outstanding stock win
be proxied to Hiram Brown, president,
for tomorrow's meeting Locally that
amount has been received, MFR. Meakin
stated.
Heavy TrsAing on Exchange.
Trading was unusually heavy on the
Washington stock Exchange today,
bonds being little more popular than
stocks. The market opened with three
81 900 sales in Potomac Electric Power
Bs at 1o734 and one 81 900 sale at lot Y.
After a small sale in Washington Gas
6s, series A. three $1,000 sales were
recorded in Potomac Electric Consoh-
dated SIS at 10l34 and 102 for another
81 600 bond. The next sale Was q 1000
transfer in Washington Gas IS at par.
(, After call. $4,000 Potomac Electric
Consolidated SIS appeared on the board
at l0l ", and 81 900 more at 1o2.
The most interesting stock sales were
small lot sales, totaling so shares, at
81, and Janston Monotype. which
opened at 6s34 and closed at 68l4 on
q turnover Of 80 shares.
Riggs Bank Club Election.
At the annual meeting of the Riggs
Bank Club, the following officers were
chosen for the coming year
William X. Brooks, president; Harold
Eing and Harry Morris, vice presi-
dents; Elsie Boteler, secretary; George
y9reian, treasurer; Executive Commit
tee, A. IT. Dent, Charles r. Fadeley,
Payton Fletcher, Jane Kennedy. Vir-
Einia Macintosh, William L. Hoeke
representative from the Farmers &
Mechanics branch; Kenneth Birgfeld,
Park Road branch; Norman F. Brown,
Northwest branch; Robert Mellefort,
Dupont Circle; Arthur McCathran,
Seventh and Street branch, and John
j. Donavan. Friendship branch.
Under leadership of Miss Esther Lau
the past year was one OF the most
successful in the history of the club.
American Stores Sales Noted.
Sales Of American Stores Co. for the
four weeks ended November 28
amounted to se.e35.549 compared with
S11, 1,132.2s1 IN November 1880, a DIR %
OF 10.7 per cent. For the first II
months sales totaled S123 3,l67, ,325
against sl29, ,482 ESQ in the like period
hast year, a decrease of 487 per cent.
O. c. Murphy Co. declared the regular
quarterly dividend of 81 on its prefer
red stock, payable January TO stock
OF record December %.
First National Bank Of New York has
declared the regular quarterly dividend
OF $25, payable January to stock OF
record December "a.
Western Union Telegraph Co. declar-
ed quarterly dividend Of $50, payable
January is to stock of record December
p. This places stock on a SO annual
basis, against s8, previously
Directors ordered this cut in dividend
From 50 to $3.50 quarterly on October
-, when announcement was made of a
10 per cent cut in workers wages. The
t8 rate was in effect since 1926.