Evening star., 1940-12-12
$3.50 Extra Dividend
Declared by Bank
OF Commerce
Regular Payment
OF $3.50 q Share
Also Is Ordered
By EDWARD c. STONE.

w
- Directors of the Bank of Com
.merce & Savings have declared the
regular quarterly dividend of $3.50
a share and voted an extra divid end
of $3.50 per share, President Thomas
j. Groom announced today. Both
dividends are payable December 81,
to stockholders of record Decem-
Der 20.
. The directors also voted to trans
fer $4,000 from undivided profits to
the banks surplus account, Mr.
Groom stated. this action increasing
surplus to three times that of the
banks capital.
. At the same meeting, the directors
voted that a Christmas bonus equal
TO one months salary be paid to all
officers and employees of the bank.
. Upon payment of the dividends
just declared. $40 share will have
been disbursed this year, Mr.. Groom
added.
Other Dividends Voted.
- Directors of the Real Estate Title
Insurance Co. have declared the
regular semi-annual dividend of 3
per cent and have also declared an
extra dividend of H. per cent, both
payable December 80. The directors
also voted extra compensation for
All officers and employees equal to
one months salary.
At the December meeting, directors
of the Union Trust Co. declared a
dividend of 3 per cent, or $l50 per
share, payable Januay Is to stock
holders of record December 81, it
was announced today.
In the financial district it was
stated that several more banks plan
to vote holiday bonuses. Those al
ready voted include the City Bank,
Second National, Security Savings g.
Commercial and the Union Trust Co.
Express Shipments Climb.
Express shipments handled by the
Washington Office of the Railway
Express Agency in the first nine
days of December ran we'll ahead
of the corresponding period a year
ago, indicating substantial gains in
holiday trade in the Capital, Supt.
G. w. Turner said today.
Up to and including last Monday
the Washington Office had dis
patched 56178 shipments, in COM
parison with 1889 in the same
number of days a year ago, dis
closing an increase of 6,2l9.
This increase continues the up
ward trend noted in November,
when shipments through the WASH
ington Office totaled 1861, against
t72.054 in November, 1889, a sharp
upswing of 13,5O7, or 79 per cent,
Supt. Turner added
Insurance Work Enlarged
Plans for expanding the services
of the United States Chamber of
Commerce in the insurance field
have just been announced here by
President James S. Kemper.
Mr.. Kemper has advanced Ter
ence F. Cunneen, manager of the
insurance department, to the posi-
tion of executive assistant for in
surance to work with Esmond Ew-
ing of Hartford, Conn, chairman
of the Insurance Department Com
mittee.
Arthur H. Won Thaden, assistant
manager of the department, will
succeed Mr.. Cunneen as manager.
He has been with the chamber since
1926 and is considered an expert
In his line.
kefauver Heads Council.
Clarence E. Kefauver, secretary
of Columbia Federal Savings &.
Loan Association. was elected chair
man of the Senior Advisory Coun-
Gil for Washington Chapter, Ameri-
can Savings and Loan Institute, at
the first meeting of the winter sea-
son Yesterday at the Raleigh Hotel.
At the same time members of the
council appointed R. w. Santel-
mann of Metropolis Building sec
retary.
The session was featured by re-
ports from C. E. Kline, chapter
president, and Mrs Esther Devers,
national committeewoman repre-
senting the United States Savings
and Loan League.
The educational work, similar to
that of the American Institute of
Banking, is to be greatly enlarged,
the building and loan classes now
being in charge of William H. Rip
pard.
Bankers Push Defense Loans.
Wilmer J. Waller of the Hamilton
National Bank, chairman for the
Fifth District of the A. B. A. Ma
tional Committee on Defense Loans.
presided at meeting of bankers in
Richmond today, the purpose Of
which was to increase the number
Of such loans made in this ter
ritory
A. M. McLachlen, president of
the District Bankers Association.
and Secretary Donald w. Larson,
were among those present. Officials
OF the Maryland, Virginia, West
Virginia and Caroline State Assoc
iationS also attended.
At the opening of the session, Mr..
Waller explained in detail the
methods by which the defense loans
are obtained and said the banks
were very anxious to do great
deal of this type of lending. A
special effort is to be made in this
district to acquaint small business
firms of the ways to get contracts
from the Government and any loans
that may be needed to carry out
such contracts. Mr. Waller said.
Appraisers Name Leaders.
At the annual meeting of Wash
1ngton Chapter, Society of Residen-
tial Appraisers, at the Ambassador
Hotel, last night. Clarence E.
Kefauver was elected president,
succeeding Wilfred H. Blanz.
Thornton Owens was named vice
president and r. Lee Baxter. Sec
Tetary treasurer.
- II,