Evening star., 1949-11-15

ing the year $500,0O0 was added
to surplus account, bringing this
item to $8,500,000.
Plans for enlarging the associa-
tons Offices at Eleventh and E
streets NV. were considered. and
it is probable extensive improve
ments will be started during the
coming year. The association now
has $4,000 patrons and needs more
space.
Samuel Scrivener, ST.: Thornton
w. Owen and William G.. Schaf-
hirt were reelected directors for
three-year terms. Others on the
board are Marvin A. Gusts, R. O.
Scholz, William H. Dyer, w. L.
King and Samuel Scrivener, jr.
Directors reelected Mr.. Baltz
president, Mr.. Curtis board chair
man, Mr.. Scrivener. sr., and Mr..
Owen, vice presidents; William
H. Dyer, secretary; w. S. Martini
dill, treasurer; w. H. Rippard,
controller; E. A. Thomas, Henry
J. Baltz and c. Gordon Rouse, as
sistant secretaries, and A. L. Gar
rett, jr., and Tom B. Thatcher,
assistant secretaries.
Lincoln Votes $3.50 Extra.
Directors of the Lincoln Ma
tional Bank have declared the
regular semiannual dividend OF
$3.50 per share on outstanding
stock and an extra dividend Of
$3.50 per share. it was announced
today.
Both dividends are payable jan
uary 3 to stockholders of record
December 19. The Lincoln Ma
tional paid similar dividends on
July /, which brings the years
total returns to $12 a share.
The latest bid for the stock on
the Washington Exchange is S340
per share. Sales are rare. as the
stock is very closely held.
Yuie Club Payments Near.
The Columbia Federal Savings
& Loan Association is about to
distribute s474,160 in Christmas
Saving Club funds to 6,511 men,
bers. This was the first year the
association has had the club, its
popularity being surprising. Next
years club now is being opened.
The First Federal Savings &
Loan Association is distributing
s475,0O0 at this time, following the
first year of Christmas club oper-
ations. It's 1850 club was opened
October Is, with twice as many
accounts opened as at this time
a year ago.
The Industrial Bank will pay
out S428,766 in Christmas Savings
Club funds next week to 5000
members. Its 1850 club will be
opened on the day this money is
distributed. The Industrial has
had great success with Christmas
savings for many years.
Bank Draws Large Crowd
President George T. Day, presi-
dent of the Bank of Silver Spring,
and his entire staff greeted hun
dreds of people during "open
house" in the new building at
8701 Georgia avenue, last night.
The increased space, modern
equipment and location assure the
bank of fine future.
C. Vernon Hill. president OF
Barber & Ross led a discussion
on Internal Reports" before
Washington Chapter, National AS
sociation of Cost Accountants,
last night in the LaSalle Building.
Directors of the Maryland Util-
tiles Association elected Folger,
Nolan, Inc, and Johnston, Lemon
& Co., Washington investment
firms, associate members, effec-
tive January /, 1850, R. Roy Dunn,
president, announced.
New State and municipal f.
nancing in October totaled $685.
680,082, compared with $283, 1885,
188 IN october, 1940, the Daily
Bond Buyer reports.
Home Loan Council Meets.
The Federal Savings and Loan
Advisory Council opened a two
day semi-annual meeting with the
Home Loan Bank Board here to-
day, with James j. O'Malley of
Wilkes-Barre presiding. Condi-
tions affecting savings and loan
associations were discussed. The
council includes a member from
each of the II Home Loan Banks
and six appointed by the board in
Washington.
Chicago Livestock