Evening star., 1938-12-14
Dividends Resumed
By Union Trust Co.
And. Bonus Voted
Directors Declare
81. Per Share
After Six Years
BY EDWARD C. STONE.

BY EDWARD c. STONE.
Directors of the Union Trust Co.
have declared dividend of per
cent, equivalent to s15O per share
on the capital stock, President Ord
Preston announced today. The div
idend is payable on January Is to
stockholders of record December 81.
This action by the directors places
the bank back in the dividend
column exactly six years to a day
after the last dividend was declared
on December l3, 1882, Mr.. Preston
said.
Union Trust Co. directors also
declared Christmas bonus of one
half months pay for all officers and
employees of the bank, which will
be distributed at once.
1t will be recalled that the trust
company revamped it's capital struc-
ture in October. Officers at the bank
said today that the company is now
In the soundest position it has been
in many years.
At the time the capital was re-
duced, it was predicted by officials
that the bank would resume divi-
dends at an early date.
Other Dividends Declared.
Directors of the Hamilton Ma
tional Bank have declared dividend
of 2il2 per cent, payable February l
to shareholders of record January
%, it was announced at the bank
today. At the same meeting the di-
rectors voted to transfer $25,0O0 to
surplus account this action increas-
ing surplus to $700,000
The Board of Trustees of the East
Washington Savings Bank, at the
monthly meeting held yesterday, de-
clared a regular semi-annual divi-
dend of per cent and an extra
dividend of l per cent on the out
standing stock, according to an
nouncement by Secretary Treasurer
S. Wilson Earnshaw. Both dividends
will be paid December 81 to share
holders of record December 23.
Directors of the National Union
Insurance Co. of this city yesterday
declared semi-annual dividend of
5 per cent. payable December 81 to
stockholders of record on December
%.
Ayres Decidedly Optimistic.
Washington bankers read with
deep interest the extended forecast
by Col. Leonard P. Ayres, noted
banker and economist, on the 1888
outlook. He feels sure 1889 will be
definitely better year than 1888
has been, unless some international
calamity intervenes. He sees a
rising national income and in
creased volumes of industrial pro-
duction. Among other predictions
we're these:
1T seems probable that the aver
age price of all stocks listed on the
New York Stock Exchange will be
higher than it has been this year.
and that it will be above the level
of 1885 and below that of 1886
Contracts for new construction
will probably be larger than those of
any previous recovery year. They
will probably be the largest since
1880, but not as large as those of that
year
The value of department store
sales will probably increase so that
they will be nearer to the levels of
1887 than to those of 1888"
Brokers' Opinions Differ.
Brokerage opinion in the financial
district differs widely on the prob
able course of the New York stock
market in the immediate future.
Some brokers report that selling to
establish tax losses is now practically
over and that this factor alone
should prove helpful to the market.
Selling is said to have been extensive
and lifting of the pressure on some
stocks might mean a lot.
One broker calls attention to the
fact that usually there is some
advances in the market near the end
OF one year and the beginning of
another. History may repeat, he
says. Many fourth-quarter earnings
Will show considerable improvement
over third-quarter results. another
favorable factor.
On the other hand some market
experts note that there was a flood
OF dividends last year at this time
which gave the market a big push.
Ihere are not nearly as many this
year. Conditions abroad and the
coming session of Congress are two
other factors often mentioned bv
tnose tavorlng waiting attitude.
ID. c. Bank Women Plan Dinner.
Ihe Christmas dinner and party
OF the Bank Womens Club will be
held at The Parrot, 17O1 Twentieth
street, next Tuesday evening at 7
O'Clock. Arrangements are in charge
OF Miss Mildred Woodcock. presi-
dent, who announces that the fol-
lowing new members will be the
guests of the club on this occasion.
Miss Naomi de Lozier of Second Ma
tlonal Bank, Mrs. Margaret Fisher
OF Hamilton National Bank and |
Mrs. Viola Baker of Takoma Park
Bank.
Johnston, Lemon e. Co.. invest
ment firm, is distributing to clients
an elaborate form for computing
capital gains and losses already |
realized during 1898. The form in
cludes a printed statement giving
general outlines of the capital gain
and loss provisions of the Revenue
Act and a host of other facts for !
taxpayers who are extensive holders
of securities.
On Six A. B. A. Committees.
Wilmer j. Waller, vice president
and cashier of the Hamilton Ma
tlonal Bank. has been placed on
four committees of the National
Bank Division of the American
Bankers Association, according to an
nouncement by Edgar E. Mountjoy,
secretary of the division. Mr.. Waller
has been named a member of the
Executive Committee, Committee on
Federal Legislation, chairman of the
Committee on Relations With Fed
eral Agencies, and member of the