Evening star., 1943-06-28
Dividend List Now
Longest Of Year
On D. {. Exchange
Midyeur Payments
Include Some Extrus
Among Bonk Stocks
By EDWARD C. STONE.


Seventeen issues listed on the
Washington Stock Exchange, the
largest number this year, are soon
to pay dividends which have been
declared in the last few days. Other
issues, including several bank stocks,
have already completed distribu-
tions due at this time, which makes
the midyear dividend list still long
er. In some instances, disburSe-
ments will be larger than at the
same time a year ago.
Capital Transit stockholders will
receive the 50-cent quarterly pay
ment, which is larger than the
amount voted a year ago. Ameri-
can Telephone is now quoted ex-
dividend. the usual quarterly S2.25
per share to be paid. Liberty Ma
tional. Bank of Bethesda and the
National Capital Bank are among
the banks which have taken favor
able action on midyear payments.
The Bank of Commerce Ss Saw
ings and the Lincoln National Bank
recently voted the usual payments
and added good sized extras. While
not quoted eX-dividend at the mo-
ment. all the other bank stocks on
the board have, or will, make their
customary midyear disbursements.
Now quoted eX-dividend are Fire
mems Insurance Co., National Union
Fire Insurance Co., Columbia Title
Insurance Co. and the Real Estate
Title Insurance Co. Garfinckel
common and preferred, Peoples Drug
common, Real Estate Mortgage &
Guarantee preferred, as well as
Woodward & Lothrop common and
preferred stocks, are also set for
early dividend payments. While
not vet quoted eX-dividend, WASH
ington Gas common and preferred
payments have been voted.
In addition TO the issues listed
on the Washington Exchange. many
securities sold over the counter are
also paving dividends at this time,
the list including several bank
stocks.
Banks Order Treasury Notes.
Washington banks were reported
today to be placing large orders with
the Federal Reserve Bank of Rich
rnond for the IL per cent Treasury
notes which were offered today in
the amount of about 81 100000.
The subscription books will be
open for three days. All subscrip-
tionS for amounts up to and includ-
Ing 100000 will be allotted in full.
Above 100000 the notes will be al
iotted on percentage basis.
The offering is made to the gen.
eral public as well as to the banks.
The notes, dated July IL, 1943, will
mature on September IS, 1947.
Shaw Among 1873 Graduates.
Edward B. Shaw of the Riggs Ma
tional Bank was back at his desk
today with a diploma from the
graduate school of banking at
Rutgers, where 1873 senior bankers
were graduated Friday night. The
graduates came from 21 States and
the District OF Columbia. This was
their third resident summer ses-
sion at Rutgers.
o. Howard Wolfe. vice president
OF the Philadelphia National Bank.
a friend Of many Washington
bankers, was conferred the honorary
degree Of doctor of laws. He is now
In the service, but has been lectur-
Ing at Rutgers. Dr. Robert c..
Clothier, president of Rutgers, was
given similar degree.
Annual Reports Improving.
The FINANCIAL World reports great
improvements in many annual re-
ports although some corporations
nave made 80 changes in style in 25
years. After study of 1000 reports
covering 1882, the magazine men
tions these outstanding charac-
teristics:
Diamond Match had the largest
annual report for 1912, with 1872
pages including cover. General Mo-
tors ran secyld with LOG pages, while
Philadelphia Company and En-
gineers Pubic Service shared third
place with y pages each. Republic
Steel took the honors for the larg-
est total number of illustrations (s5) =.
General Foods annual report was
unique in that it represented the re-
suits Of a direct survey of the COM
pany's stockholders as to what they
wanted in their annual report.
The most impressive improvement
among the railroad reports was in
the Chesapeake 65 Ohio group with
c. & O., Pere Marquette and the
Nickel Plate producing highly dra-
matte and attractive booklets.
West Leads in Trade Gains.
The Federal Reserve Board re-
ported today that department store
sales in the first five months of this
year were up 40 per cent in the Dali
las area. the best gain over a year
ago in any of the II Reserve dis
tricts. Trade in the Kansas City dis
triCt was up 80 per cent, in San
Francisco Is per cent and in Min
neapolis IS per cent.
Atlanta led the Eastern territory
with % per cent gain. Trade in the
Richmond district was IA per cent
ahead of last year Boston reported
a 9 per cent gain. New York, 5; Phil
adelphia, 6; Cleveland, s; and Chi
cago, per cent.
The trade average for the II dis
tricts was up IA per cent in the five
months and Is per cent in May
alone