Evening star., 1941-11-27
Capital Transit Co.
Declares Extra Of
Is Gents a Share
Regular Disbursement
Of Same Amount Also
Ordered by Board
By EDWARD c. STONE.


and an extra dividend of 25 cents
per share, it was announced by
President E. D. Merrill this noon
The notice said:
Board of Directors of the Cap
ital Transit Co. at its meeting today
declared a regular dividend of 25
cents per share and an additional
dividend of 25 cents per share on
the 240000 shares of par value S100
each of the common stock of the
company. to be payable on De-
cember 20, 1941, to- stockholders of
record at the close of business on
December a. l941."
Tooay's two dividends will make
payments total s125 per share dur
ing the present year.
Federal Officials on Program.
Washington will furnish many of
the leading speakers at the Miami
convention of the United States
Savings and Loan League, accord
ing to announcement just made by
the national president, Paul Endi-
colt.
Among the speakers will be Ma
than Straus. United States housing
administrator; Thurman Arnold
Department of Justice; Wayne Tay-
lor, Assistant Secretary of Com
merce; Carl Monseef, assistant CO.
ordinator of defense housing: Guy
Greer. Federal Reserve Board
statistician, and Representative AL
bert Gore. House Banking and Cur
rency Committee.
J. Howard McGrath, Governor of
Rhode Island, will talk on "A Saw
ines and Loan Man in the Gov
ernor's Chair" Most of the talks
will center around housing problems,
economic policies, home taxation
and priorities. The business ses-
sions open next Monday, the WASH
ington delegates leaving here on
Saturday and Sunday.
The National Society of Residen-
tial Appraisers will also meet dur
ing the convention.
ID. c. Stores Heavily Stocked.
Further evidence that Washing
ton stores are expecting record
Christmas holiday sales is shown in
today's report from the Richmond
Reserve Bank.
Stocks on hand in department
stores in the Capital at the end of
October were 38 per cent higher
than on the same date a year ago.
The average for the fifth district
was 36 per cent. 33 per cent in
Baltimore and AZ per cent in Rich
mond.
To meet the enormuos holiday
demand Washington stores had A
per cent more merchandis on order
at the end of October than a year
ago In the whole fifth district
orders were up SO per cent, 80 per
cent in Baltimore. 80 per cent in
Richmond and Is per cent in group
of other cities, the survey says.
Outstanding receivables on Oc-
tober 81, compared with the same
date in 1910, were up II per cent
IN Washington, the same amount
In the fifth district and in Balti-
more and II per cent in Richmond
and the group of other cities.
Collections were good in the Capt.
tai during October, 80 per cent OF
accounts due at the beginning OF
the month being paid. Collections
averaged 80 per cent in the fifth
district and were particularly good
in Baltimore and Richmond, the
review said. Retail sales in the
Capital in October were II per cent
ahead of last year and 20 per cent
In the 10 months.
Bolles Address Bankers.
The safe deposit section of the
District of Columbia Bankers Asso-
citation held a joint banquet meeting
last night at the New Colonial Hote
with the Maryland Safe Deposit AS
sociation. The guests of honor were
Andrew H. Treagor, president of the
National Safe Deposit Advisory
Council; A. Scott Ofutt, second vice
president of the District Bankers
Association, and Blair Bolles of The
Evening Star staff, who addressed
the meeting on the war.
Guy D. Cowl of the McLachler
Banking Corp. and chairman of the
safe deposit section, presided. George
e. Schmidt, president of the Mary.
land Safe Deposit Association, head
ed the delegation of visitors from
Baltimore.
Home Loans on Increase.
NGorv1ooI 6t,ilIinu and 1nor oc-
eociations which are insured by the
Federal Savings and Loan Corp
made 755 home loans during Octo-
Der, totaling s2,576,5l7, it was an.
nounced today.
Virginia building and loan asso-
negotiated 439 home loans during
the month for a total of $1,124,347
the same report said.
In the first 10 months of this
year the Norfolk & Western Rail.
way earned s1629 a share on the
common stock, against 1892 in tht
like period in 1910,
The Washington Office of the Ma.
tional Association of Securitie
Dealers announces that in the frs
test case of a provision in th'
Chandler Act amendment to the
Bankruptcy Act covering stool
broker bankruptcies the Circui
Court of Appeals in Philadelphi;
has ruled that cash customers full!
paid securities may be claimed FIRE,
and unencumbered from the bank
rupt estate if the customer is no
indebted to the broker.
Exchange Trading Active.
Washington Railway e. Electri
preferred stock opened trading o
the Washington Stock Exchange to
day, with 30 shares selling at I'LL:
unchanged.
Later in the session 46 and 3
share lots moved at lit, off half
point on the day.
Capital Transit stock registered
50-share sale at Is, off an eight
from yesterday, the sales bein
completed before the 25-cent regu
lar and 25-cent extra dividends wer
announced.
In the bond division, WaShingto
Railway & Electric Is were stronl
on a ST 900 transfer at 10814, aroun
recent levels.