Evening star., 1938-02-17

S@ yes m nts for
SS%& A# SSsSBsBB either individual
c-;,. or trust funds. If
the dividend is
passed on the common, similar action
usually follows on the preferred. While
that is often true, the speaker added,
there are perhaps a dozen companies
with little or no funded debt whose
preferred stocks have paid continuous
dividends for many years, and whose
earnings range from 5 to 10 times
dividend requirements. Such stocks
seem equally or better secured than
high-grade bonds and the return is
from three-fourths to per cent great
er, Mr.. Blunt declared.
Common stocks were formerly con-
sidered outside the realm of invest
ments, the banker asserted. But times
have changed and they must now be
given consideration. The policy of
buying common stocks for small ac-
counts is debatable. Unless about 20
such stocks can be purchased, it is
hard to get average results. Great
care is always essential, he concluded.
Banks Offer Housing Plan.
Thomas j. Groom, president OF the
District of Columbia Bankers Asso-
citation. announced today that the new
regulations of the Federal Housing
Administration for making property
improvement loans under Title OF the
National Housing Act as amended
had been received and that the banks
of Washington were now ready and
willing to make loans for the repair
and modernization of real estate.
A special meeting of the District OF
Columbia Bankers Association was held
yesterday to approve plan of adver-
tising for these loans and informing
the public of the important features
of the National Housing Act.
According to Mr. Groom. under the
old act which expired March 81. 1887,
lending institutions of the country re-
ported a total of 1.450,660 individual
improvement loans amounting to $780,
603,240 and that this played major
part in the general economic recovery
of the country. He said that the banks
of Washington had participated in
these loans to the extent of l0,6l5
amounting to s5,384, $50, and that this
had contributed in a large measure
to the improved business conditions
in Washington.
Provision is made for repayment
OF the loans over period Of years
and as the plan is part of the admin
tstration's recovery program, Mr.
hot t1o ,Lc nf "a
lngton desired to lend their full CO.
operation in this respect.
d. c. Underwriters Meet.
The February meeting of the Dis
trice Life Underwriters Association
drew a very large attendance at the
Willard Hotel this noon Harrison E.
Hathaway. member Of the associa-
when one-act comedy, by Any
Other Name" was presented and en-
Enthusiastically received.
Paul H. Primm, president of the
association, discussed savings bank
life insurance selling as practiced in
Massachusetts, and contemplated in
other States, as compared with the
services of the agency system.
John E. OBrien, registrar of the
Life Insurance Institute of Washing
ton, announced the beginning of the
second semester of the Institutes edu-
cational program February %. Reg
istratiGns close for this semester on
February 25.
Bonus Checks Cheer Agents.
A. E. Call, manager of the Washing
ton district of the Life Insurance Co.
of Virginia, has returned from the
convention of managers and leading
representatives of 1887 at the COM
pany's home Office in Richmond.
1t was announced at the convention
that the company ended the year
1887 with an increase of insurance in
force of more than $4,000, ,000-the
largest single increase in any year
since the company commenced busi-
ness in 1871.
The high light of the convention,
said Mr.. Call, was the presentation by
Bradford H. Walker, president of the
company, of bonus checks aggregating
a substantial sum to LOT representa-
tives who were leading producers in
the past year. Checks were received
by the following agents in the Wash
ington district: F. E. Wiler. A. w.
Greer, w. F. Judd, jr., H. F. Pearson,
w. S. Clark, r. D. Grigg, jr., and
E. D. Glassford
Three Dividends Declared.
Charles Delmar, president of Lin
coin Service Corp, industrial bankers
announces that the gross loan balance
of the company's subsidiaries as OF
December 81, 1887, increased 1892
per cent over the balance outstanding
as Of December 81, 1896. Net profits
before provision for Federal and State
income taxes, increased by 57.l6 pei
cent during 1887 over 1896. Earnings
per share for the common stock fol
1887 represent an increase of 51.3(
per cent over 1886, he stated.
At meeting of the Board Of Direc.
tors here the regular quarterly divi'
dend of IA per cent was declared OF
the 7 per cent cumulative prior pre-
ferred stock and a 25-cent DIVIDEND
distribution was declared on the com
mon stock. Both dividends are pay
able March % to stockholders of rec
ord as of February %.
A quarterly dividend was also declare'
payable March 20 on the per cen
cumulative participating preferre'
stock to stockholders of record as o
February %.
Noted in Financial District.
Mergenthaler Linotype Co. director
have deferred action on the dividen,
due at this time. Last year the com
pany made four payments of so cent
each.
Chesapeake g. Ohio Railway has de
clared the regular quarterly dividen
of Is cents on common. Chesapeak