Evening star., 1943-11-17
Best Bank EARNINGS
In 10 Years Seen
By Reserve Board
BY EDWARD C. STONE,

penses, net current earnings, anc
net profits of member banks in the
Federal Reserve System were larger
in the first six months of 1943 than
in the first half of any year since
the banking holiday 10 years ago
Dividends, however, were practically
unchanged when compared with the
first half of 1912.
The amount of interest and divi-
dends on securities increased sub.
stantially and exceeded interest ano
discount on loans for the first time
in history, although the annual rate
of return on securities declined to
is per cent compared with 1.8 pei
cent in the first half of 1912, the
review added. The amount of inter.
est and discount on loans declined
largely as the result of smaller
volume of loans held, although
there was also slight decline il
the rate Of return.
Increases in salaries, wages ane
taxes were only partially offset by 6
decline in payments or deposits
the review continued. Net current
earnings increased $37, 600, 900, re.
f1ecting an increase of $4,000 ,00t
which was Offset in part by the in.
crease in expenses. Net profit:
amounted to $246,OOO 900 agains
$l70,000,000 in the first half of 1912
The annual rate of net profits OF
total capital accounts was per cen,
in the first half of this year com.
pared with ST. per cent in the same
period in 1912 and So per cent ii
the first half of 1941. Dividend.
were at the annual rate of 3.3 pei
cent, down slightly from recen1
years, the survey concluded.
Dividend Higher on Units.
Washington Railway & Electric
participating units will pay a higher
dividend of 10 cents per unit in the
third quarter as result of the
extra 81 dividend voted on Wash
1ngton Railway & Electric common
stock.
Other payments this year have
been 221a cents per unit, but the
coming payment will be 32ls cents
for the quarter. The regular and
extra payments will be distributed
on November 30 to unit holders on
November II.
Washington Railway & Electric
directors voted the regular So
quarterly dividend at the time the
81 extra was declared. The partici-
pating units were originally issued
for dividend payments on North
American common stock.
More of the units are said to be
owned here than In any other city
IN the country. They were quoted
today at l41a bid, offered at l6, ex-
dividend.
Morris Plan Adds Director.
James Cunningham Rogers, as
sociated with the firm of Hogan e.
Harrison, attorneys, was elected a
member of the board of directors
of the Morris Plan Bank of Wash
1ngton at the November meeting of
the board. it was announced today
by Linwood P. Harrell, executive
vice president.
Mr.. Rogers, native of Pennsyl-
vania, has resided in Washington
since 1912. He attended the Uni
versity OF Pittsburgh and George
Washington University, and has
practiced law here since 1915.
Mr. {e oh 1f
board OF All Souls Unitarian
Church and member of the
American Legion.
Rust New Reserve Director.
Harry Lee Rust, jr., of Washing
ton, head of H. L. Rust Co., real
estate firm, has been elected Glass
B director of the Federal Reserve
Bank of Richmond, Robert Lassiter,
chairman Of the board, announced
today.
Mr.. Rust was elected by the banks
IN group 3, which include several
Washington members of the Fifth
District Reserve Bank. He was
nominated several weeks ago to
fill the vacancy caused by the ex-
piration of the term of John H.
Hanna, chairman of the board of
the Capital Transit Co.
James C. BrasweI, Rocky Mount
IN. c. banker, was elected a Glass
A director to succeed himself. Both
terms are for three years.
Controllers to Study Maps.
James L. barley, chief cartogra-
pher of the National Geographic
Society, will address District of Co.
lumbia Control of the Controllers
Institute of America at the Novem-
ber meeting next Tuesday night at
the Carlton Hotel, dinner starting
at 7 o'clock. His subject will be
the preparation and Reproduction
of Maps"
Mr.. Darley was assigned to the
maproom in Gen. Pershings head
quarters in the last World War and
has been with the Geographic So
ciety since 1921.
Brokers Put Out Odd Booklet.
Merrill Lynch, Pierce, Fenner &
Beane today was distributing an
uiiuoudl UOohlCt, LII L al I al ylllCIll,
prepared by the firm in the interest
of schools college and charitable
institutions, for public spirited citi-
zens who realize colleges and chari-
ties must be supported and are
willing to help underwrite the cost.
The booklet shows how it is posi-
BILE to give generously without seri-
ously affecting ones net income
position after taxes. How to be
generous though thrifty is made
plain in some most interesting tables
covering various sized incomes.
Woodward Common Active.
Woodward & Lothrop common
stock was active on the Washington
Stock Exchange today, opening with
ae26-share sale at 401a, followed by
1SsAnd Is share sales at Al. The
market closed with 40 bid and Al
asked.
Peoples Drug Stores common
registered the transfer of 100 shares
at 22h. This was of from the last
sAle at Is which was the high for
ASiyear. Potomac Electric Power
pfeferred stocks were firm.
%4 AsI