Evening star., 1940-09-20
Transit's Net OFF Slightly,

Net income of the Capital Transit
Co. in August totaled S26 sol 81,
against S27 486.95 year ago, a slight
decrease of 1858, according to the
monthly report filed with the Public
Utilities Commission today.
Taxes were sl04,014, compared
with S79,902 a year ago. A letter
accompanying the report stated that
S16,700 of this increase represented
provision for additional taxes
which will result from the tax bill
now before Congress.
Net income for the first eight
months of 1910 was placed at S468,-
T0l45, in comparison with 1851 ,133 so
q year ago, a gain of sl07 7,567.95, or
298 per cent.
Columbia Declares Dividend.
Directors of the Columbia National
Fank meeting yesterday declared a
dividend Of So per share on the out
standing stock, President Frank j.
Stryker announced today. The divi-
dend will be paid as follows:
$3.50 per share to stockholders OF
record September %. payable Octo-
Der l and S1.50 per share to stock
holders of record December %, pay
able January 2, 194l.
The Board of Directors of the Sc
clrity Storage Co. has declared a
dividend of sl.25 per share in the
capital stock, payable October 10 to
stockholders of record October 5,
Secretary Paul Alvey announced
today.
Currency Hoarding Growing.
There has been continued in
crease in the amount of large
denomination currency held by the
public, the September Federal Re-
serve Bulletin states in a review of
banking developments in 1910. The
total amount of currency in de-
nominations of $50 or more outside
the Federal Reserve banks and the
Treasury increased by 10000, 900
or 81 per cent between July, 1889,
Bnd July, 1910. Though part of this
growth may have been in response
to business needs, the boarding of
currency by individuals has prob
ably increased, the review says.
Hoarding Of currency involves
little or no loss under present con-
ditions because of non-payment of
interest on demand deposits, the re-
fusal of many banks to accept large
time or savings deposits, and the low
rate of interest on short-term in
Sestments.
Foreigners are also probably hold
ing large amounts of currency in
this country, the report adds. Ship
nents to Europe of American dol
lars have been relatively small dur
ing the past year.
Heard in Financial District.
Robert T Williams, director, in
6ustry division, Federal Housing
Administration, will address the Di-
rect Mail Advertising Association a.
the convention at Atlantic City the
first week in October. He will ex.
plain how the F. H. A. is stimu-
Iating business in the construction
market and how direct mail adver.
tising is being used so effectively.
Joshua Evans, jr., vice president o.
the Hamilton National Bank, viii
attend the annual dinner of the AS.
sociation of Reserve City Banker!
which will take place at Atlantic
City during the A. B. A. conven.
ton.
Several Virginia bankers ART
planning to connect with the "Bot
Hanes Special at Washington ane
continue tC the A. B. A. Atlantic
City convention. The special viii
come from New Orleans over thu
Southern Railway.
National Capital Bank stock regis
tered the first sale this year on tht
Washington Exchange today wher
10 shares moved at ITS. Two $5Ot
Capital Traction IS sold at 1929
unchanged, and Washington Rail
way &, Electric As figured in $50'
transfer at 107, off point from tn
previous sale.