Evening star., 1936-01-14
RIGGS BANK VOTES
USUAL DIVIDENDS
Payments on Both Preferred
and Common Ordered.
Reserves Set Up.
BY EDWARD C. STONE.

Following the regular monthly meet
ing of the Board of Directors Of the
Riggs National Bank, held late yester-
day, President Robert v. Fleming an
nounced that the regular semi-annual
dividend had been declared upon the
preferred stock of the bank. payable
February /, 1886, to stockholders Of
record December 81. 1885.
Mr.. Fleming also stated that the
board had declared the regular divi-
dend on the common stock, So per
share, payable on January IS, 1896,
to stockholders of record December
81, 1885. and 50 per share payable
April IS, 1886, to stockholders of
record March 81, 1886.
Mr.. Fleming further reported that
while not required to provide for re-
serves for retirement of preferred
stock until the period commencing
February l. 1885. the bank had added
substantial sum to the reserves
which it had been building up to be
used at a later date in the retirement
of preferred stock and that the Board
Of Directors had also authorized the
transfer of 100000 from undivided
profits to surplus account.
New Bank Directors Named.
AS noted elsewhere in todays Star,
stockholders of all the national banks
and several other banks in the city
held their annual meetings today and
elected directors for the coming year.
The National Metropolitan Liberty
National, Washington Loan & Trust
Co., McLachlen Banking Corp. and the
Lincoln National elected one new di-
rector in each institution. The other
banks reelected their old boards
Riggs National returned Karl w.
Corby to the board.
c. F. Jacobsen, cashier of the Ma
tional Metropolitan Bank for many
years, was among the new directors
elected today. He has been a very
active banker IN the financial district
for long time, his experience and
ability making the honor well de-
served.
Annual reports covering the business
year we're presented, the growing pros
perity in the Capital during the last
II months being reflected in these
financial statements. Ofhcials, though
not satisfied with present interest
rates. reported generally favorable con-
ditions.
Some of the banks held their or
ganization meetings following the elec-
tion of directors. Several, however,
come at later date
Busy Trading ON Exchange.
Trading was lively on the WASH
tngton Stock Exchange today, with
sales in Mergenthaler Linotype lead
ing the days business.
Mergenthaler opened with a small
sale at 40. After call, five lO-share
lots and one 30-share block came out
at 391s. The closing bid was 391a
with 40 asked.
Washington Gas Light IS, series B,
sold at l02 today and Washington Gas
SIS, 1858. registered 1861. One of
the sales was an $4,000 transfer in
this issue.
Capital Traction SIS figured in three
sales today, all made at 9O34. In the
stock division Potomac Electric Power
per cent preferred sold at 1101s
and the 81 per cent preferred at
1141a and lis.
Bethesda Bank Adds Director.
The Bank of Bethesda added Ralph
P. Sabine to the Board of Directors
at today's annual meeting.
Other directors reelected included
Leslie B. Bell, Donal L. Chamberlin,
E. Taylor Chewing, Robert D. Hag-
ner, Thomas Hampton, G. Wady
Imirie, Lewis Keyser, Ralph S. Nor
rison, Brainard w. Parker, DR.. Ben
janin c. Perry, Walter E. Perry,
Frank S. Wood, Washington Waters,
J. Harry WEIGH, Frank Wilson, Turner
Wilson, George P. Sacks and S. Wal
ter Bogley.
District Title Co. Elects.
Stockholders of the District Title
Insurance Co. elected these directors
for the ensuing year: william M.
Beall, Arthur G. Bishop, Edward c.
Baltz. Alfred H. Lawson, Robert G.
Merrick, Jacob S. Gruver. Claud Liv-
tngston. Horace G. Smithy, Carl j.
Bergman. John P. Story. T. Howard
Duckett, William c. Miller, Robert E.
Buckley. Roger J. Whiteford and
Bruce Baird
Washington Title Co.
Stockholders of the Washington Title
Insurance Co. named these directors
for the ensuing year: Arthur G.
Bishop, George H. O'Connor, James P.
Schick, Fred Mckee, James Med.
Shea, George F. Hane, Clarence F.
Norment, H. Glenn Phelps, Joseph F.
Horning, Albert w. Howard, c. B.
Hurd, Lewis T. Breuninger and Sifford
Pearre.
.-- Lawyers Title Co.
Stockholders of the Lawyers Title
Insurance Co. elected the following
directors today: Arthur G. Bishop,
Charles w. Stetson. Joseph N. Saun-
ders, Harry M. Packard, Albert F.
Miles, Charles H. Buck. Francis E.
Smith, Clarence Dodge, George M
Emmerich, Clarence F. Donohoe,
Charles H. Kindle, Charles H. Bauman,
D. F. Roberts, James NJ Johnston and
c. E. Kefauver.
Dividend Payable Tomorrow.
Directors of the Fidelity Storage Co.
recently declared a dividend of 50 per
share, which is payable tomorrow to
shareholders of record on December
81. according to announcement made