Evening star., 1942-07-29
ha|f-Year Dividends
On Common Stocks
Near 1941 Levels
More Firms Distributed
Payments Than Yeor Ago,
Exchange Announces
BY EDWARD C. STONE,

AA@uuHSS AUHOuUGSS
BY EDWARD C. STONE.
Dividend payments on common
stocks listed on the New York Stool
Exchange In the first half of 1874:
we're very close to 194l levels in th'
ike period, the Exchange Magazin,
announced today. Despite highel
taxes and greater shifts of manu-
featuring activities. more companie.
paid dividends than in the first hal
4 l941. the report states.
while 24.6 per cent Of dividend
payment stocks reduced their half.
years payments, Is per cent in
creased them. In the half-year 56(
listed common stocks paid dividends
against $50 in the like 1941 period
These dividends totaled 1896, 7l2 ,00(
against 1851 ,3l5 900 year ago.
The largest common stock divi-
dend increases were In electrical
equipment shares, Sc per cent. Other
increases were in farm machinery
garment and leather stocks, ship.
building, steel and iron, paper and
plblishing, railroad and oil stocks
Automobile, aviation, chemical, tex
tile and tobacco companies were
aanong those cutting dividends, the
review says.
Washington brokers, in comment
ing on the report today, considered
the fact significant that the aver
age common stock on the exchange
Y currently yielding 7.6 per cent
hsed on estimated total dividends
Pr 1912 and market values on JUNE
.. The average is based on non.
dividend, as well as dividend payers
The last half year is full of un-
&rtainties, brokers point out, but
the first six months did not bear ouI
be apprehension that rising taxes
md costs would cause heavy divi-
dend casualties.
Bankers Plan Conference.
sThe Fifth Virginia Bankers Con-
ference will be held at the Univer-
&ty of Virginia in Charlottesville
September 2, 3, 1 and 5, 1t was an
Iounced here today. Every banker
- this territory is invited to attend
Randolph E. Paul, assistant to the
Secretary of the Treasury, will speak
On "Tax Trends Affecting Banks,
and DR.. A. E. Kincaid, consulting
economist OF the Federal Reserve
Bank of Richmond, will lead a
forum discussion of Banking Today
and Tomorrow"
Another speaker will be Repre-
sentative A. Willis Robertson OF
Virginia, q member of the House
Ways and Means Committee, who
will talk on Federal Taxes" H. H
Cooley, vice president of the Round
Hill National Bank, will speak on
Agricultural Credit"
A special guest of honor and
speaker will be A L. NJ. Virgins
second vice president of the Ameri-
can Bankers Association.
Send Appeal to President.
Twenty Virginia banks in the Re-
gional Clearing House Association
for Frederick, Clarke, Warren, Page
and Shenandoah Counties, meeting
ct Winchester, in an appeal against
imitation, sent the following tele4
gram to, President Roosevelt:
with, Difference, this appeal Is
made to YOU BY 20 banks in this
section. These banks are striving
to support the Nation, in winning
the war. but they fear that imitation
will lose even a victorious peace
We believe that the menace of in.
Aation can be averted only by the
&trong leadership that you can fur
&ish"
|. War Bond Advertising Lauded.
, Directors Of the District of Colum'
bia Building and Loan League meet.
ing yesterday at the Raleigh Hote
Tor the July session Of the Executiv.
Council heard Edward l.. McAleer
lecretary Of the Equitable Co.
operative Building Association, ant
Horace G. Russell, of the Unitee
States Savings and Loan League
discuss war bond advertising ant
Current legislation respectively.
Z Mr.. McAleer stated that the adver'
eising effort being placed behind tn,
sale of war securities by the loca
Associations has attracted wide
spread interest from other com
munittes. He recommended that th'
individual groups continue their wa
aid advertising.
Mr.. Russell, attorney for the ma
tionaI body, spoke briefly on peril
nent legislation. He commended thu
Washington associations for thei
work in behalf of war bond sales
Wilfred H. Blanz, president Of tn
local league, presided.
/. Secretary F. Wilson Camp wa
congratulated on his recent ap
pointment to the membership com
uittee of the United States Saving
and Loan League.
Gordon in Financial District.
Albert H. Gordon. president Q
the New York Bond Club, and
partner In the brokerage firm Q
Kidder, Peabody & Co., was
visitor in the financial district to
day. He was the guest of J. Cliffor
Folger. president of the Wash
tngton Bond Club and called o
many other financiers.
j. Frank Campbell, president c
the Anacostia Bank, was felicitate
today by President John A. Refill,
president of the District Banker
Association, and other bankers o
the occasion of birthday ami
versary.
Charles H. Doing, vice presider
of the Washington Loan e. Tru.
Co. and manager of the West En-
Branch, Is on his vacation.
Erskine Gordon, trust officer {
the Hamilton National Bank, lie.
here today for short vacatio
at Eaglesmere, Pa.
Robert l.. Flather, assistant SCI
retary of the American Security
Trust Co., returns from his vacs
ton on August l.
Capital Traction Bonds Up.
Three $1,000 transfers in Capit'
Traction SIS were registered on tt
Washington Stock Exchange toda
at 105A, up Il and new high mai
for the present year.
Richmond Reserve Bank officia
are calling attention to the fa'