Evening star., 1949-12-15

known in the financial district a.
last years president Of Washing.
ton Chapter. American Institute
of Banking, of which he is a grad.
uate. Mr.. Lawson assumes hi!
new duties Monday.
The other new vice president il
John p. Sippel who has been 6
national bank examiner in the
Baltimore district and has hae
other wide banking experience
He has resigned from the Govern
ment service. and will take his new
post with the Metropolitan or
January 2.
The official family is being en-.
larged to meet the needs Of steady
business expansion. Mr.. Jacobson
said.
Bank to Increase Capital.
Directors Of the Suburban Ma
tional Bank have voted the regu-
lar s per cent dividend and an
additional 2 per cent dividend
payable December 20 to stock OF
record December 10. 1949. This
disbursement is in addition to a
5 per cent dividend paid earlier
In the year. Directors also trans
ferred $4,000 from undivided
profits to surplus, Fred l.. Lutes'
president, announced today.
The banks directors also voted
to submit to stockholders at their
annual meeting January 10, pro-
posal to increase the banks cap
ital by the sale of an additional
10000 shares Of stock at $24 per
share. This action. if approved,
would increase the capital to
100000 and surplus to $7l5,ooo.
u s. Treasurer Honor Guest.
Mrs. Georgia Neese Clark, treas
urer Of the United States, was
honor guest at the 17th annual
dinner Of Washington Chapter
National Association of Cost Ac-
countants, at the Sheraton Hotel
last night. AS the guest speaker
Mrs. Clark gave a brilliant address
on women in Government and
Business"
More than 200 members were
present. Arthur B. Gunnarson,
who organized. the chapter IT
years ago, reviewed some of the
chapters history and introduced
the principal speaker. Mr.. Cum
narson is now secretary OF the
national organization.
Max w. Shoup. chapter presl-
dent, was POSTMASTER and a high
light was the cutting of q huge
birthday cake III honor Of the
anniversary. Many Of the past
presidents responded to introduc-
tions. =.
Stock Reaches 1949 Peak.
Union Trust Co.. stock reached
q new 1949 high on the Washing
ton Stock Exchange yesterday
when 400 shares changed hands at
$40 q share, up from $3.50.
The advance followed the report
that the bank has had the best
year since it was founded so years
ago and the declaration of the
usual 50-cent dividend due at this
time and a special dividend OF
$l.15 asshare.
Five Phoenix Mutual Life agents
have qualified for the Quarter
Million Dollar Club, Laurance H.
Riggles, C. K. Rosenberger, Carl
ton e. Blake, Louis c. Hurd and
Edwin c. Hege. -
Frank j. Murray. Income Tax
Bureau, and Addison Clohosey.
Research Institute tax editor. will
address District certified public
accountants this evening at the
Mayf1ower Hotel.
Washington Chapter will debate
with Philadelphia Institute of
Banking tomorrow evening in the
American Security Building. The
judges will be Bolitha j. Laws,
Bruce Baird and Walter Bastian.
Storage Extra" Voted.
Directors OF the Security Stor-
age Co. have declared the regu-
lar quarterly dividend Of $1.25 per
share and an extra dividend OF
SITS q share. both payable jan
uary 10 to stockholders Of record
January 5.
Today's dividends bring the to-
tai for the year to So a share
same as In 1948.
Th;ronn Grnin