Evening star., 1934-07-18
DIVIDENDS VOTED
BY W.R R.&E. BOARD
Payment OF So viii Raise
Annual Rate to S12
on Common.
BY EDWARD c. STONE.


way AZ Electrict Co have declared 9
% dividend on the common stock,
payable September 10 stockholders
OF record on August IS. Railway a.
Electric common has been paying 81
year for a long time. The present
action OF the directors means that
the stock Is 10 be put on sl2 a
year basis in the future, according
TO the notice sent TO the Washington
Stock Exchange. The stock Is the
hlghest-prieed issue on the exchange
the last sale being over $500 a share
Washington Railway A. Electric di-
rectoFs also have voted the usual
quarterly dividend OF si25 a share
on the preferred stock This dividend
also is payable on September to
shareholders Of record on August Is.
This stock. also listed on the Wash
ington Stock Exchange Is selling
above par. the last sale taking place
al i00b
The usual semi-annual dividend of
s per cent has been declared by the
directors OF the Corcoran Fire In
surance Co. and that stock is nov
being quoted ex-dividend on the local
board. The disbursement will be
made on July 81 TO stockholders OF
record July IS.
Emerson's Bromo Seltzer has de-
clared dividends OF so cents per share
on the class "A" common and on
the class B" common. Both divi-
dends are payable August ! TO hold
ers OF record July l6. The "A" stock
Is listed on the Washington Exchange.
Waller Made New Director.
John r, Waller. president OF the
International Bank, jackson place,
and a member of the Executive Com
mittee of the International Finance
Corporation, has been elected a di-
rector and vice president of the Ma
tional Refinance Corporation, which
maintains Offices in the Shoreham
Building, according to announcement
by President Frederick s. Dudley
Mr.. Waller has been active in the
financial district for many years.
George L. Starkey, president Of the
National Bank OF washington. was
back at his desk today after several
days vacation passed at the Cham
berlin Hotel, Old Point Comfort, Va.
The Bank Women's Club of WASH
ineton viii hold It's july meeting ON
Saturday, July 81, at the Summer
home of one OF its members, Miss
Constance Fogle, at Long. Point on
the Severn. Members and guests ex-
pect to enjoy the informal meeting
and picnic supper.
Fewer Pennsy Stockholders.
Ta~...n..t,.n.an rnu~oal ~taotrh nllnrr
decreased during June for the fif-
teenth consecutive month, total on
July !, 1894, being reported at $685.
B26 as compared with 234,246 on June
i, decrease of 420. Total on July l
also compared with 244,295 year
ago, a decrease Of l0,469, and with
238.S76 on January /. 1884. showing
n decrease of $3.50 in the half year
This is q new low mark in stock
holders since the peak of 252.142 was
established on September /, 1882.
Average holding on July was
66.3l shares as compared with 56.2l
on June / and with $3.50 on July !,
1888. Total stock outstanding was
unchanged at 13,167.696 shares
Women stockholders numbered
1885 decrease OF 2.Q5l, consti-
tuting "A 446 per cent of total holders.
They held 4.139,696 shares, decrease
56,o4l. representing 31.44 per cent of
was 40 shares, unchanged from year
ago.
Earnings Up II Per Cent.
An increase of II per cent in earn
ln1l Co.. - IL
was reported to the Washington Office
today by International Business Ma
chimes Corporation for the first half
of 1884. as compared with the corre-
spending period last year. The COM
pany reported net earnings for the
six months to June 30. last, OF So
40i ,l76. including earnings of foreign
subsidiaries and after deducting all
reserves. depreciation and other
charges and estimated Federal taxes
These earnings, which are equivalent
to $4.83 a share on 703,34 no par
capital shares outstanding. compare
with similar earnings of S2,902,01 or
$4l2 share on the same capitaliza-
ton, for the corresponding six months
OF 1898.
Net earnings after all charges, but
before Federal taxes, were Sl946, ,424
for the three months to March 81,
previously reported. and $l,974.727
for the three months to June 80. or
S3,92l ISL for the Six-month period.
This compares with similar earnings
of SS,35S. .626 for the corresponding
six months of 1888.
Lively Trading on Exchange.
Business was active on the WASH
tngton Stock Exchange today, bonds
being in extra good demand.
The first sale was 81 900 AnacoStia
& Potomac Railroad SIS, which
changed hands at 73. Capital Trac-
ton SIS figured in a $500 turnover at
s5, while 81 900 City g. Suburban SIS
moved at 10.
Washington Gas Light SIS. 1860,
were strong, 81 900 selling at no. a
new high mark for this issue Rail-
way & Electric As we're also strong
$1,000 moving at 97l2.
In the stock division four shares Of
Washington Railway & Electric pre-
ferred sold at 1904 today, while two
lots OF Mergenthaler Linotype sold at
N2S Potomac Electric Power 6 per
cent preferred came out at ll3A, the
best sale of the season.
1t was noted by exchange members
that the Chesapeake q Ohio earnings
on common for the six months end
ing June 80 were SlS2 a share
against Sl.S5 share in the like