Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-17
LOCAL SECURITIES
KEEP UP ENV|ABLE
DIVIDEND RECORDS
Excellent Yields Are Being
Maintained on Many
important Issues.
WASHINGTON BOND CLUB
READY FOR ELECTION
Mutual Savings Banks to Hold
Convention Here-Noted Speak
ers on Program.
BY EDWARD C. STONE.


Local securities have chalked up an
unusually good record since the New
York Stock Exchange crash and the
succeeding Nation and worldwide de-
preston. While Wall Street has sent
out long and painful list of dividend
cuts and omissions. Washington stocks
have been moving along quietly, prac-
tically all of them maintaining divi-
dend payments.
A glance at the Washington Stock
Exchange miscellaneous list reveals the
fact that all but two issues are paying
regular dividends. OF course the yields
vary a great deal, but the money of
local investors has not been rendered
dead by the passage of dividend dis
burSementS.
The same is true of local bank stocks.
In the national bank group the highest
return right now is on National Bank
of Washington stock, which yields ST
per cent, the stock selling at 225. All
these stocks are yielding over per
cent. The yield on Commercial Ma
tional Is AS, District 3.9, Federal-Amer-
lean 4, Liberty 3.6, Metropolitan 4.8.
Riggs 4 and Franklin Sc. Others which
are paying regular dividends have not
recorded recent sales on the Exchange
The trust company and savings bank
groups are yielding from 2.7 per cent to
5 per cent. American Security yields
AS, National Savings 81, Union Trust
4.8, Washington Loan 81, East Wash
ington 4.8, Security Savings 81 and
Seventh Street Al.
Every issue on the Exchange in the
public utilities group is also paying a
return on the investment Capital Trac-
ton yields lib, Norfolk e. Washington
Steamboat Company 6.3, Potomac Elec-
trio Power per cent preferred 6, Po-
tomac Electric Power 513 per cent pre-
ferred 5, Washington Gas 81, Washing
ton Railway g. Electric common 1.6 and
Railway & Electric preferred 81.
Many other issues on the local board
might be mentioned, but the above list
is sufficient to show what local stocks
are doing.
Bond Club Election Arranged.
Plans for the annual Spring outing
Of the Bond Club Of Washington have
been about completed. The outing this
year will be held May % at the Manor
Club near Norbeck. Md Sports will be
in order during the afternoon. At
tractive prizes have been provided for
golf, the obstacle putting contests,
horseshoe pitching and ping pong
Dinner will be served at pm, imme-
diately after which election of officers
for the ensuing year Will be held. The
Nominating Committee has proposed
the following:
President, Lawrence M. Proctor; vice
president, T. Baker Robinson; secre-
tary-treasurer, Charles M. Henderson;
governors, James P. Nolan and James
H. Lemon.
The regular Stock Exchange event
will be held and substantial prizes have
been provided for this feature. The
acceptanceS so far indicate that this
should be one of the most successful
outings ever held by the club, with an
unusually large number of guests at
tending. T. G. Montgomery. general
chairman, and members of the Enter
tainment Committee consist of the fol-
lowing: Charles Carol Morgan, Winslow
B Van Devanter, Richard Hynson,
Frank M. Hall, Edwin D. Father, Carl
r. Kurtz, Arthur Foraker, Marshall o.
EXnicios, Elmer Sauter, Donald Nc
Knew, Richard Winder, James M. John
ston, George NJ. Ferris, William M. Can
by, John c. Barcalow. Floyd Miller, c.
II. Severance, r. Bascom Broun, Ralph
M. Wolfe and Ennalls Waggaman.
Club Organized in 1928.
The Bond Club was organized in 1925
ana during the Winter months of each
year luncheons are held at which ad-
dresses by prominent men are given.
In addition TO the active membership
the associate membership Is made up
OF the following members Of the bank
ing fraternity:
Joshua Evans, jr., president, District
National; Robert V. Fleming, president,
Riggs National william D. Hoover,
president, National Savings & Trust
Co; John B. Larner, president, Wash
tngton Loan 81 Trust Co.; John Poole,
president, Federal American National
Bank & Trust Co.; Corcoran Thorn,
president, American Security g. Trust
Co.; George w. White, president, Ma
tional Metropolitan; E. Percival Wilson,
secretary, National Savings & Trust;
Earle AmlcK, assistant cashier, Riggs
Natlonal' 8: William Miller, assistant
treasurer, Union Trust Co.; James
Dulin, assistant treasurer, American
security d Trust, and Norman z. Tow
SON. assistant treasurer, Washington
Loan g. Trust Co.
The present officers of the club are:
PRESIDENT, Sidney T. Thomas. vice
president, Lawrence M. Proctor, and
secretary-treasurer, T. Baker Robinson.
When the Boat Missed Pop"
Echoes OF the years when the late
l A. Fleming was active in the local
nnanclai district are still heard. When
ne nyeo In Chicago he was a close
became secretary Of the United States
treasury, Frank A. Wandering, the
distinguished banker. was a Young man
In chicago in those days and 'Pon"
knew MIN well. They met daily for a
long time. ava :"
But one Of the best anecdotes about
Mr.: Fleming Is recalled in Connection
with the second or third ollt-of- town
convention Of the District Bankers
Association which was held aboard one
OF the steamers of the Norfolk r,
washington Steamboat Co. After one
OF the business sessions, the boat p1,lled
into yorktown to spend several hours,
Inc bankers and their guests went
ashore with the understanding that
the boat would leave at 3:15 in the
AFTERNOON. When o'clock arrived,
the captain was told that everybody
was on board and that the boat might
as well sail in order to have a longer
cruise down the bay before dark. The
whsle blew, the captain gave the
signal and the big steamer moved out
into midstream.
AS the boat got good start down
the river. scme one looked toward the
dock. 10 and behold, there was "pop. "
te-haired, calm, dignif1ed and en-
tirely alone on the wharf, after a visit
to the golf links. The rest of the story
is short. The boat turned back and
picked up the veteran editor. you
pulled out is minutes ahead of time, "
was al he said e. he walked up the