Evening star., 1933-04-06
TWO LOCAL BANKS
DECLARE DIVIDENDS
w. l. & T. and metropolitan
Order Payments to Their.
-" Stockholders.
BY EDWARD C. STONE.


Two large local banks have just
declared quarterly dividends to be paid
in the near future
At the regular monthly meeting OF
the board OF directors OF the Washlng-
ton Loan & Trust Co., late yesterday, a
dividend of 50 per share was declared,
nayable Nav l to stockholders OF record
On April "a. This makes total OF ~
a share paid on the trust company S
stock during the current year. :,
Directors of the National MetropoIl-
tan rank. at their monthly meeting
Yesterday, declared dividend OF per
cent on the capital stock OF the pank,
payable April Is to stock OF record AplH
6. The books are to be closed 1or tne
transfer of stock from Aprll 70 Apih
is both dates inclusive.
Another dividend Just declared IN
which there is considerable local m
terest has been voted by Loews, Inc. the
REGULAR quarterly dividend OF Slo2 z
share on the preferred stock, pelng
navable Nav Is to stock OF record
April %. 49, .. in
teresting dividend declared YESTERDAY
was voted by the Homestake Mining Co.'
In San Francisco, which aooeo an
"extra" of 81 per share to the regular
roonthlv dividend of rs cents, both pay
able April 25. Homestake stock Is at
present the highest priced issue on the
New York Exchange. re
Corn exchange Bank Trust Co. OF
New York has declared quarterly CIV
dend of IS cents. placing capital STOCK
On a "A basis against 81 paid previously.
The dividend is payable May to stock
of April 20 record.
CITY Borrowing Virtually stopped.
Az indicating the virtual cessation OF
e+.te and municipal borrowing since
the hank holiday, the Daily Bond Buyer
Of New York reports new issues OF otate
and municipal bonds in March aggre-
eating only S11,778,267, not 1nciuolng
Sal e04. 821 loans advanced by the Re-
CONSTRUCTION Finance Corporation. In
FEBRUARY. total loans aggregated $64,-
50.771. of which S48,566,841 were Re
construction Finance Corporation loans.
New financing authorized by the
voters of 16 municipalities In II StaIes
during March amounted to S3,2oo ooz'
> bringing the quarterly total TO S4st4,-
, OO0 This compares with SO oou III
March, 1882; s46.6 ,994 IN MARCH, Mar
/ 1893. and S33,741 500 in March. 1871.
The taxpayers of the Chicago, III,
lincoln Park district authorized the
issuance of $2,787,000 refunding bonds.
All other authorizations were in amounts
Of 100000 or less.
. A. &P. Net $1,000 Share.
! In the face of the most severe eco
. nomic depression ever experienced py
the company. causing sales and net
profit declines from the preceding cor
responding period of 14.3 per cent and
1859 per cent, respectively, the Great
Atlantic & Pacific Tea Co. closed It's
fiscal wear last February 25 In the
, strongest financial condition in its his
: tory. Cash and saort-term Government
; securities. accounting for 63 per cent OF
current assets and 50 per cent OF total
assets, totaled $99,084.683.
. Net profit of S22, ,732,772 last year was
! equivalent, after preferred DIVIDENDS, 10
$1,000 a share on the outstanding q
/ O86, ,748 shares of common STOCK. II
compared with S29, ,792,975, or $lS;4o a
share. in 1881, and the record high OF
! sac. 742.775. or S13.86 a share, in 1880.
: On each dollar of sales in its 1882
wear the company's earnings showed
! net profit margin of 1853 cents, against
2.95 cents in 1931,- 2.88 cents IN l930.
However, 030 cents of this margin last
wear was derived from interest on large
( holdings of cash and Government Sc
curities, against 0.1i cents in 1881.
! Bends Lead Local Exchange.
: Bonds were in the best demand on
sthe washington Stock Exchange tooay,
Fin fairly active trading.
washington Gas Light IS. Series B,
opened the session with small sale
.at l03, practically unchanged from the
sslast previous sale.
: Chesapeake g. Potomac Telephone OF
Virginia SIS figured in a 81 900 trans
Gas Light 5s came out at lOl 12.
In the stock division, II shares OF
Potomac Electric Power 5l2 per cent
preferred stock moved at LOT.
Washington Railway & Electric pre-
sferred recorded a 43-share turnover
at 81, practically the same as other re-
cent sales
There was very wide spread on the
exchange today in the bid and asked
prices of Lanston Monotype STOCK, the
market closing with A bid and %
asked. The Mergenthaler quotations
closed, 81 bid and 25 asked.
American Telephone is now being
quoted ex dividend, the regular dis
bursement to be made soon.
Cleaned in Financial District.
The Treasury invites tenders for S75,-
600 900 or thereabouts of 91-day blllSto
s'ceived up to pm. April 10. The bills
will be sold on a discount basis to the
highest bidders The issue meets ma
turity of S75.090,000 of short-term bills.
The First National Bank of Havre de
Grace, Md, has been authorized to open
on a 100 per cent basis, according to
Hugh each, manager of the Baltimore
branch of the Federal Reserve Bank OF
Richmond. w. M. Coale, conservator
for the institution, will be released.
The Taneytown Savings Bank, Taney-
town. has been authorized by the State
bank commissioner, John J. Ghingher, to
increase the percentage of payments re-
LEASED to depositors to per cent, from
2 per cent.
The Southern Railway Co. has asked
special permission of the Interstate
Commerce Commission to enable it to
reduce fares in passenger coaches to
basic rate of 1l2 cents mile. The re-
duction would apply on all system and
intrasystem hauls, but not to inter
system transportation. The move fol-
lows the establishment by the Louisville
g. Nashville of 2-cent fare rate.