Evening star., 1941-03-24
D. +. Junior Bankers
Are Given Subjects
For Essay Contest
Winner TO Get Trip
To June Convention
At Hot Springs, Va.
Rv EDWARD c. STONE.

Three timely subjects were an.
,ol,nced today for the annual essay
contest of Washington Chapter,
American Institute of Banking, the
winner to be given an all-eXpense
Ir11p to the annual convention of the
District of Columbia Bankers As
sociation at Hot Springs, Va, in
june. Second prize will be S75 in
cash and third prize $50 IN cash.
The subjects:
"Banking's Role in National De-
fense, why Choose Banking as a
Profession?' and should CONNER
Cial Banks Further Develop Small
Loan Departments" The contest
Is intended to develop study among
the junior bankers and always
arouse keen interest It is open to
all chapter members who are en-
ployed in banks which are members
Of the bankers association
The assays must not exceed 5000
words and must be submitted to
Secretary Donald w. Larson of the
District Bankers Association by May
/. The subjects were chosen Jointly
BY chapter and association commit
tees.
Ralph EndiCOtt, assistant treasurer
OF the Washington Loan and Trust
Co, chairman of Washington Chap
ter Committee. was aided by Frank
NJ. Perley, trust investment officer,
American Security e. Trust Co.;
Robert Lacey. cashier, Columbia Ma
tional Bank. and G Elmer Flather,
assistant treasurer, Union Trust Co.
> The District of Columbia Bankers
Committee is headed by William B.
Willard, vice president, National
Savings & Trust. Mr. Wizards as
sociateS are Willard G. Barker, presl-
dent, Morris Plan Bank: H. T Bis
selle. vice president. Riggs National
Bank Rutherford J. DOOley, vice
president and cashier, National Bank
Of Washington, and Hans w. Ire
land. treasurer, American Security 6
Trust Co.
PennSy's Revenues Jump.
Gross revenues of Pennsylvania
Railroad in February are estimated
at S40617,000, an increase of It 9 per
cent over February. last year, NJ w.
Clement, president, said. Freight
revenues during the month approx
mated S3l ,364 900. an increase of
192 per cent and passenger revenues
s6268OO0, an increase of III per
cent.
s Mr.. Clement said that gross reve-
nues in the first Is days Of March
ran to approximately so $4,000, an
increase of 301 per cent over the
1910 period, with freight revenue
estimated at S17,363 900, up 34.6 per
cent, and passenger revenues $685.
900, an increase of 23.8 per cent.
Back Payments Lift Dividends.
: Nourished by improved regular
dividends and larger payments
against arrearageS, preferred stocks
on the New York Stock Exchange
emerged in 1910 to greater pOpu-
larity than this class of investment
has enjoyed in many years.
Dividends were paid during the
year on 299. or 746 per cent. of the
total number of 1898 individual pre-
ferred stock issues, compared with
67.2 per cent in 1899. Disbursements
total 1886 381 ,00O up A per cent
from the preceding year. Of this
amount, approximately S50,000,000
represented payments against ar
rearageS.
The average current yield on the
preferreds, based on regular pay
ments in 1910, is Al per cent. This
includes all listed preferred issues
those that did not pay dividends. as
well as those that did.
Taking the dividend PAYERS alone.
SAYS the exchange magazine. the
average yield is 81 per cent. In two
groups, rubber and petroleum, every
listed preferred stock paid its reg
ular dividend.
Many Dividends Due Soon.
An extra large number of divi-
dends are to be paid in few days
by stocks listed on the Washington
Stock Exchange.
Among dividends already declared
are payments on Capital Transit,
Bank of Commerce & Savings, Car
pei Corp, American Telephone,
Garfnckel common and preferred,
Peoples Drug Stores common,
Woodward & Lothrop common and
preferred and Security Storage.
With the exception of Security
Savings, all these issues are now
being quoted eX dividend.
PepcOs Fuel Costs Higher.
The Potomac Electric Power Co s
fuel bill for 1910 amounted to So
S14.330, according to the annual re-
port. This was an increase Of
S194607, or TAB per cent. due to a
greater tonnage of coal required in
the generation of a 416 per cent
larger amount of electrical energy
than in 1889 and a II cents per ton
higher price for the fuel.
The same report shows that wages
and salaries amounted to SO 320,871,
an increase of S2O4,815, or 6.56 per
cent. over 1899. Taxes increased by
s350.937 in 1910, or 1897 per cent,
but on account of adjustments for
prior years. the 1910 net increase
was 1924, ,140, or 1907 per cent. The
increase in depreciation, Of S6l,5O2,
or 331 per cent over 1889 reflects a
charge of 219 per cent on the greater
amount of depreciable property in
1910. the report states.
Heard in Financial District.
Walter H. Smith, general mana
ger of the Washington office Of
Remington Rand, announces that
Herbert w. Goodman and George E.
Harris were among the 20 winners
of the salesman content in the
United States who will take the trip
to Havana, Cuba, for the week
starting March 26. This trip comes
as a result of business accomplish
ments for the year 1910.
Eliot H. Thomson of the Washing
ton Loan & Trust Co. returned to-
day from a three-week vacation in
Florida, which he passed at Fort
Dol Dot