Evening star., 1942-12-11
Norfolk Washington
Steamship Shares
Show Best Gain
Lead Public Utility
Section Of Capital
Exchange in Year
BY EDWARD C, STONE.

folk g. Washington Steamboat stock
is leading all public utility issues on
the Washington Stock Exchange in
price gains during the year, with
an advance from 76la to 126, prac-
tically so points.
The most active stock on the list
Capital Transit, stands second with
rise from II to 26, reached a few
days ago, 1926 shares having
changed hands since January l. The
Potomac Electric Power issues have
changed but little during the year,
the per cent preferred now stand
ing at lis and the 5i2 per cent issue
around ia.
Washington Gas Light common.
around IS, is about where it started
the year. Gas $3.50 preferred is off
considerably from the years best
price, but the IS preferred is near
the 1912 top. Washington Railway
& Electric common has sold at only
one price this year-S600 share
while the last sale in the preferred
registered 1l2
Lincoln Officers Advanced.
Richard A. Norris. vice president
and cashier of the Lincoln National
Bank, was made executive vice pres
ident at yesterdays meeting of the
Board of Directors, taking the place
held for many years by Albert S.
Galley, who recently retired from
active banking.
Mr.. Norris has been with the Lin
coin Bank for % years and for the
past 10 years has held very i'm
portant positions in the organiza-
ton. He is former president of
Washington Chapter, American
Institute of Banking, and has done
a great deal of committee work for
the chapter
At the same meeting of the board,
Nelson M. Stokes, manager of the
Lincoln branch at Seventeenth and
H streets NV, was elected a vice
president. He has been with the
bank 20 years and has played vital
part in bringing the branch Office to
its present size and importance.
Both promotions were announced
today by President Floyd E. Davis.
Two Dividends. Bonus Voted.
Directors of the Morris Plan Bank
of Washington have declared the
regular per cent semi-annual
dividend and an extra dividend of
2 per cent, making the years divi-
dends total per cent, according to
announcement by Linwood P. Har-
rell. executive vice president
Both dividends will be paid on
December 30 to stockholders of rec
ord December 81 The directors also
declared the usual Christmas bonus
for officers and employees.
War Banking Offices Active.
Officers in charge of special bank
ing facilities at Army camps and
elsewhere, for the benefit of service
men. report their Offices busy and
rendering valuable service.
The Citizens National Bank of
Alexandria maintains an Office at
the Army Airport Annex at Gravelly
Point, Va, and another at Fort Bel
voir. while the First and Merchants
National Bank of Richmond con-
Ducts the office in the Pentagon
Building on the Virginia side of
the Potomac. The Citizens Ma
tional Bank Of Petersburg has an
Office at Camp Lee.
The Offices cash checks, take de-
posits, handle travellers checks and
render other banking service. They
are saving great deal of time for
the patrons who could not get to
more distant banking offices. On
pay days the clerks in all these Of
fees are extremely busy.
Bulletin Covers Wage Law.
D. j. Needham, general counsel of
the American Bankers Association
has sent from the Washington Of
flee bulletin on Wage and Salary
Sterilization, based upon the re-
Gently enacted law and the regula-
tions and orders connected with it,
The review discusses jurisdiction,
salary increases which do or do not
require approval, bonuses, insurance
and pension benefits, salary limita-
tlons, and host of other high spots
included in the measure, of particu-
lar concern TO bankers.
100000 Dividend Declared.
Directors of the Mount Vernon
Mortgage Corp. have declared
dividend of per cent for the CAL
endar year ending December 81, on
the company's preferred stock, Rob-
ert T. Highfield, secretary treas
urer, announced today. The divi-
dend will be paid on December 81
to stockholders of record Decem-
ber Is.
This third cumulative dividend.
aggregating 100000, will 60 to ap-
proximately 1000 stockholders, Mr..
Highfield said.
Littlepage Death Is Shock.
The death of Thomas P. Little
page from a heart attack shocked a
host of his friends in the financial
district. He had been a director of
the Liberty National Bank for 20
years and also was a director of the
Bank of Bowie in Maryland.
Years ago he was law partner
OF Sidney F. Taliaferro, now trust
officer of the Riggs National Bank
He had an unusual number of
friends in the banking fraternity.
having become closely identified
with the Liberty National Bank
when the late George o. Watson
was president.
Transit Makes New Record.
The Capital Transit Co. registered
anew all-time peak in the use of
equipment on Tuesday of this week
when the company operated I'll
streetcars and 975 buses during the
afternoon rush, officials announced.
This was an increase of 73 vehicles
in 30 days and 236 since last De-
cember.
Richmond banks are distributing
$2.074.573 to 58402 Christmas saw
ings club members, checks averag-
ing $35.52.
Capital Traction IS Strong.
Capital Traction SIS were strong
on the Washington Stock Exchange
today, a $500 transfer being record
ed at 10534, the recent peak price
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