Evening star., 1935-12-18
TWO MORE BANKS
ORDER DIVIDENDS
Liberty National, American
Security & Trust Join
Growing List.
BY EDWARD C. STONE.

tutlOnS mere Wnlcn neVe Recently NOISu
regular and in some cases additional
dividend disbursements.
Directors of the Liberty National
Bank yesterday voted semi-annual
dividend of 81 so per share, payable
January IS, 1886, to stockholders OF
record at the close of business Janu-
ary 7.
Directors of the American Security
& Trust Co have declared a regular
quarterly dividend of per cent and
an extra dividend Of per cent on
the outstanding stock, both payable
January 10, 1886, to stockholders of
record December 81, it was announced
today. @
These disbursements follow dividend
payments declared in the last few
days by the Lincoln National Bank,
Munsey Trust Co. and the Bank OF
Commerce & Savings. Corporations
listed on the Washington Stock EX-
change have also declared several re-
cent dividends, the latest declaration
being reported by Woodward & Lo-
throp. which declared a regular and
extra dividend on the common stock
and regular dividend on the pre-
ferred stock.
The year end will find more divi-
dends being paid to Washington in
VeStors than was the case year ago.
This is true of both home and out-of-
town investments. The list of divi-
dends voted by New York bank stocks,
which are so widely held here, is con-
siderably larger than year ago. So
it is with many other issues.
New Loan Rules Distributed.
The Federal Reserve Bank of Rich
mond has sent to all banks in the
fifth district copies of the new regu-
lations on loans to executive officers
of member banks, effective January /,
1896.
In the regulations the term mem
Der bank" means any national bank,
State bank, savings bank, trust COM
pany, Morris Plan Bank, mutual saw
ings bank or other banking institution
which is member of the Federal Re-
serve system.
the chairman of the board of direc-
tors. president, every vice president,
cashier, secretary, treasurer and trust
officer of a member bank, and all
other officers participating in the
management of the bank or any of
its branches. The regulations state:
Regulations in Detail.
Except as provided in section of
this regulation, an executive officer
of a member bank shall not borrow
from or otherwise become indebted
to the member bank of which he is
an executive officer and a partnership
IN which one or more executive Of
f1cers of a member bank are partners
having either individually or together
a majority interest in the partnership
shall not borrow from or otherwise
become indebted to such member
bank
Except as provided in section of
this regulation, no member bank shall
make any loan or extend credit in
any manner to any Of its own execu-
tive officers and no member bank
in any manner to a partnership
in which one or more executive Of
f1cers of such member bank are
partners having either individually or
together a majority interest in the
partnership.
Loans made to an executive Of
ficer prior to June 16, 1888, by the
member bank of which he is an ex-
ecutive officer. may be renewed or eX-
tended with the prior approval of the
board of directors of the member
bank for periods expiring not later
than June 16, 1888. Any such re-
newal or extension shall be made
only where the board Of directors of
the member bank shall have satisfied
itself that such renewal or extension
is in the best interest of the member
bank and that the executive officer
indebted has made a reasonable effort
to reduce his obligation"
Christmas Trade Holding Up.
Members of the washington ASso-
citation of Credit Men received the
monthly report from national head
quarters today, which stated that in
many respects this Christmas season
should be the happiest period IN the
past six years. The past so days, the
review said, have witnessed rise IN
business activities to levels approx
mating and, according to some barom-
eters, exceeding the inflationary spurt
of the Midsummer of 1888. In some
lines the figures approach those
existant in the middle of 1880.
There has, of course, not been as
general a sharing in the upturn by all
lines of industry as might be desirable.
The automobile, steel and electrical in
dustrieS are in the vanguard OF re-
covery, while in recent weeks textiles
have been moving along well. The less
fortunate are the heavy goods indus
tries" the review says.
In general, industry is assured
credit needs for all practical pur-
poses at attractive rates. Sound loans
can be had under very favorable terms.
Inventories are still reasonable. In
a few industries there has been a
slight, though not dangerous accumu-
lation. AS far as the known factors
or the usual business barometers are
concerned, the outlook is indeed en-
couraging as industry faces the new
year.
1.-THE real problems that confront
industry arise from without, rather
than within the industrial situation,
one concerning the Governments reg
ulation, participation or interference
in business
Today's Trading on Exchange.
Seven shares of Lincoln National
Bank stock sold at 200 on the Wash
ington Stock Exchange today. 1t was
the first sale in this issue for some
time.
The market opened with small
sale in Mergenthaler Linotype at 81.
The rest of the days trading was in
bonds, 81 900 Capital Traction SIS NOV