Evening star., 1949-12-13
Stock Dividend Plan
OF Security Savings
Lifts Bid for Shares
By Edword c. Stone

By Edword c. Stone
Bids for Security Savings &
Commercial Bank stock have
Jumped from $213 share to $219
since plans for a stock dividend
were announced a few days ago
but no stock is being offered at
any price.
The directors have asked the
stockholders to approve a stock
dividend of one share for every
Is now held, action to be taken
at the annual meeting on jan
uary 10.
The stock is sold over the coun-
ter. The bid of $213 has hardly
changed in the last half year until
the stock dividend announcement.
Latest sales are said to have taken
place at $215 a share.
A survey Of other securities IN
the counter" list discloses that
Anacosita National Bank stock,
quoted at 5000 share at the end
of June has climbed to 1925, the
sharpest gain in the bank stock
division. Second National, at $110,
has moved up five points recently.
Other bank issues have regis
tered little change in the last half
year, including the Bank of Silver
Spring, at 14h; City Bank, IS;
Hamilton, 47h; Industrial, II;
Munsey Trust, 125; National
Metropolitan, 81; Suburban Ma
tional, 22A.
Aside from bank stocks, Doctors
Hospital has moved from los to
112, Washington Baseball Club
from 60 to IS, District National
preferred, 95 to 81; Seaboard
Finance preferred, 461a to 521a.
Others have gained slightly while
q few issues have sold off.
Business Reveals Gains.
Despite the adverse influence of
steel and coal strikes in the Fifth
Federal Reserve District, which
includes Washington, business
continued to exhibit strength in
October, particularly in such i'm
portant industries as cotton tex
tiles, hosiery. furniture. lumber
and construction, the Richmond
Reserve Bank reported today.
Particularly significant in the
near-term business outlook is the
rising trend of bank loans. At
the end of October, total loans of
all member banks in the fifth dis
trict were at a new high level,
which is an indication of expan-
sion rather one of continuing
downward adjustments in the
areas economy. the review said.
Trade credit is still in rising
trend particularly in the INSTALL
ment segment.
Construction contract awards
were under the previous month
but remained at very high levels.
Retail sales declined.
Installment Sales Expand.
The Federal Reserve Board re-
ports that installment sales in de-
partment stores in October were
10 per cent ahead OF last year and
9 per cent better than in Septem-
Der. Charge accounts totals were
under 194s.
The volume Of freight trans
ported by motor carrier In Octo-
ber decreased 1.6 per cent from
the previous month but was a.
per cent ahead Of October, 1948,
the American Trucking Associa-
tions reported here today.
Standard & Poor's notes that
sales of restaurant chains in the
first nine months Of the year were
off 2.3 per cent. Some food costs
were lower but wages continued to
advance.
Terminal Refrigerating & Ware
housing Corp. is distributing an
other of it's series of calendars de-
picting early scenes in American
history.
New Sales Manager Named.
L. o. Braun has been appointed
appliance sales manager Of the
Graybar Electric Co., F. F. Jas
persen, Washington manager, an
nounced today. He has been hold
ing a similar position with another
distributor here and was formerly
with Hotpoint. Inc.
The Phelps-Roberts Corp, 1925
Fourteenth street NV, has given
the Children's Hospital. in the
name of customers and friends, a
modern up-to-date oxygen ma
chine. The machine is already in
use, saving the lives Of children
almost daily.
q American University business
students will re-enact the annual
stockholders meeting of Pillsbury
Mills, Inc, at a forum session to-
morrow.
Cosden Petroleum and the
American Bitumuls Co. have been
elected members Of the Asphalt
Institute, the Washington Office
announces.
All employees of Goldenberg's
department store will receive a
Christmas bonus, the amount
varying with length Of service.
Dividends Announced
NEW YORK, Dec. 13 P.-DiVidends
oeciafeo' Pc Stk of Pay
Rate. riod. record able
u,nn A. Ontario Pap Csc - 1890 l-255