Evening star., 1949-12-08
Stockholders 10 Vote
On Security Savings
Stock Dividend
Ey Edword.C. Stone

nv 6QWQIO'S -. SIoNe
Directors Of the Security Saw
ings 81 Commercial Bank have
recommended for stockholders
approval the declaration Of stock
dividend of one share for each Is
shares now held, payable to stock
holders OF record on January 16,
1850.
The stock dividend proposal will
be voted on by the stockholders
at the annual meeting on January
10, Francis G. Addison, jr.. presi-
dent of the bank. announced to-
day.
If approved. $4,000 will be
transferred from undivided profits
to the surplus account. thereby
making the banks capital $500. 900
and surplus account an equal
amount. Scrip will be issued at
the rate of one-fifteenth Of share
on January 16. date Of the stock
dividend payment.
The last stock increase by the
Security Savings & Commercial
Bank was in January, 1S47. when
capital was raised from 100000
to $750,o0o.
In recent years this bank has
paid regular dividends Of per
cent per annum with a 2 per
cent extra. making an annual
payment of 10 per cent. Present
earnings indicate a continuance
of this dividend policy. Nfr. Addi-
son said.
The stock is now selling around
S215 share, the price having
changed very little this year.
Trust Company so Years Old.
The American Security 81 Trust
Co. will observe its 60th ami
versary tomorrow. Chartered un-
der Virginia laws in October. 1883,
with s1,250,000 capital, the COM
pany was rechartered under Dis
trict of Columbia laws q year later.
In 1905, the bank moved from
1419 G street NV, to Fifteenth
street and Pennsylvania avenue,
enlarging facilities in 1882 with
the erection Of q 10-story ONCE
building. In 1919. the Home Saw
lngs Bank merged with the trust
company and in 1946 the assets
of the Columbia National Bank
were purchased. The company
now has seven branches.
Daniel w. Bell, former Under
secretary of the Treasury, sue
ceeded Corcoran Thorn, ST., as
president in 194e. A. T. Britton
was the first president and Charles
g. Bell the second.
On December 81. 1889, the COM
pany had deposits of $1S.S70
which on November /, 1949. had
climbed to $145.s43,835. Resources
now total $158.3o5.941.
Munsey Declares Extra.
Directors of the Munsey Trust
Go. have declared an extra divi-
iend of 81 share, payable De-
.ember 10 to stock of record De-
:ember 8, c. H. Pope. president,
announced. This brings total 1949
disbursements to So a share, same
Is last year. The board also au-
!horized 5 per cent year-end
MINIS for emD1Oyes
Directors Of the Liberty Ma
ional Bank recently declared the
Usual Christmas bonus for the
,ank's employees. President w. T.
yandoren reported.
American Cyanamid Co. has
announced the appointment OF
Dr.. Wilbur H. Miller as technical
representative and assistant man
lger Of the company's Washing
on Office.
Two Committees Appointed.
Fred A. Smith, president of the
District Building and Loan League,
.hese committees:
Budget-Edward c. Baltz, chair
nan: Robert E. Buckley, vice
.haiman; Carl j. Bergman. Ed
ward K. Jones. Clarence E. Ke-
'auver, William N. Payne. jr., and
William c. Zimmerman.
Entertainment r. ward
Carly. chairman; Joseph P. Burke.
r., vice chairman; John P. Balster.
R. Lee Baxter. Martin A. Cook,
Milton r. johnson. John G. Kolb,
John Raymond, Julian 8. Scott.
!. Hawley Smith, Horace J.
Smithey, Dom B. Thomas. John
Thompson, Stuart Thompson,
howard E. Thompson, s. Dolan
oonohoe. E. A. Thomas and c. G.
Rouse.
Leaders to View Business.
1.-THE Business Outlook for 1850"
will be viewed at the Ad Club
luncheon at the Statler next Tues
lay noon by Charles B. Dulcan.
r.. vice president and general
manager of the Hecht Co.; Ralph
Goldsmith, vice president and gen.
ral manager of Lansburgh's. and
Tohn A. Reilly, president. second
National Bank: j. A. Livingston of
he Washington Post will be
moderator.
w. r. Huey of Chestertown,
Tesident Of the Maryland Bank
RS Association, has returned
lone from a Baltimore hospital
md is reported as improving
teadily.
w. H. B. Anders. vice president.
Citizens National Bank, Frederick,
las been appointed to the Mary
and Bankers Association Agricul-
ural Committee.
New York Produce