Evening star., 1935-12-29
INITIAL DIVIDEND
ORDERED BY BOARD
OF. HAMILTON BANK
Payment of so Cents a
Share Will Go February ]
to 4,6O0 Holders.
ACTION TAKEN IN VIEW
OF EARNINGS INCREASE
President Graham Reveals Direc-
tors Are Not Establishing Regu.
lar Basis, However.
BY EDWARD C. STONE.

Inc hamilton NdIlOlldl bdIlh lldo
declared its first dividend since organ
ization in 1888.
This announcement was made yes
terday by President Edwin c. Graham,
who stated that the board of directors
had declared an initial dividend of
az per cent or so cents per share on
the $4,000 shares, par value $40, of the
banks capital stock.
The payment will be made on Feb
ruary 1, 1896. to stockholders of record
January %, Mr.. Graham stated. The
disbursement will reach 4,600 stock
holders, as the stock is widely held.
The Hamilton National resulted
from a merger of the old District Ma
tional, Federal-American National, Po-
tomac Savings Bank. Northeast Saw
ings Bank, Woodridge-Langdon Saw
ings and Commercial Bank, Washing
ton Savings Bank and Seventh Street
Savings Bank.
A high percentage of the depositors
In these different banks took stock in
the new organization. This action
gave the new institution many more
shareholders than the average bank
has on record Subscribers to the new
stock paid $40 per share and SIS addi-
tionsl which went to surplus.
While the stock is now listed on the
Washington Stock Exchange, it has
advanced we'll above par. 1t sold
''over the counter" a few days ago at
s24 a share. In announcing declara-
ton Of the initial dividend President
Graham stated that the board Of
directors was not establishing divi-
dend basis, but that the distribution
was made in view of the very salts
factory earnings during the past year
In addition to declaring the dividend
out Of the undivided profit account
the board authorized the transfer OF
$150,000 to surplus account, as o1
December 81. increasing surplus from
S250,o00 to $40o.000.
Since organization, deposits in the
Hamilton National have grown from
$8,725,000 to around $18,429, 780
Earnings and profits have likewise
been gratifying to the officers and
directors, the undivided profit account
standing at approximately 100000
after the above transfers.
Washington retail dealers report
the most successful holiday business
since 1929, the Commerce Department
announced yesterday in its latest
weekly survey Of trade conditions ir
30 important cities.
Department store sales in the Capt.
tai in 5-day week decreased II pei
cent from the previous 6-day week
but were 2S.3 per cent higher than in
the corresponding week in 1884, the
report said.
Bank clearings in the city in the
five-day period dropped 81 per cent
from the previous week but increased
more than 26s per cent over the same
week last year. The value of build
ing permits was SO per cent under
the previous week but scared 90 per
cent above the mark set in the cor
responding week in 1884.
Retail trade in the whole fifth Re-
serve district eased off during the
week preceding Christmas, the report
states, due to heavy advance shop
ping but in most cities the general
average was well above last year
Baltimore trade was the highest in
years. Richmond reported conditions
satisfactory. while Norfolk did the
same volume of business as last year,
snow and ice on the sidewalks cutting
down shopping on the final two days.
Clearings in Baltimore were up 14.e
per cent over the same 1884 week.
Prices Firm on Exchange.
Washington Gas IS, series B. re-
corded two 81 900 sales on the Wash
ington Stock Exchange yesterday at
102. Norfolk & Washington Steam
boat Co. stock came out at IS and
Potomac Electric Power 6 per cent
preferred registered tiny sale at
1l012. Bid and asked prices on other
issues were firm at the end of the
week.
An unusually large number of is
sues on the exchange are marked for
early dividend payments. Among
them are American Telephone, Bank
Of Bethesda, National Capital Bank,
Bank Of Commerce g. Savings, Liberty
National, Lincoln National, National
Bank OF Washington, Firemen's In
surance Co., National Union Insur-
ance Co., Columbia Title Insurance
Co, Real Estate Title Insurance Co..
Real Estate Mortgage g. Guaranty
preferred and Woodward & Lothrop
common and preferred.
TSFaUSnf1 NJ .
New York Stock Exchange firm by
that name, was in the city during
the week to visit the Washington
ONCE.
G. Bowie Chapman, manager Of
the Washington Office of Laidlaw &
3 Co., Is leaving the city today for q
months sojourn at Nassau.
The Wall Street journal predicts
: that the Pennsylvania Railroad direc.
: tors, meeting on January 8, will de-
4 clare O dividend Of rs cents and pos
sibly 81 q share. The forecast L
based on the recent increase in earn
5ngs.
The total amount of tenders for
the $50,000,000 Treasury 274-day
bills dated December 81 was $79,312,-
600, the Treasury reports
A $500,000 loan secured from the
Reconstruction Finance Corp. by the
Virginia Dark-Fired Tobacco Asso-
citation will be used to guarantee a
fixed scale of prices for the or
ganization's 5000 members.
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COCOA IMPORTS GAIN.