Evening star., 1951-12-09


Of American Security since jan
uary. 1916. He succeeded Corcoran
Thorn, ST., who was elected board
chairman.
The company was chartered
first in Virginia with authorized
capital of $1,250,000 and in 1890
was chartered under the District
laws for trust companies. It
opened at 1419 G street NV. and
moved to the present location Of
it's maiden Office at 18th street
and Pennsylvania avenue NV.
in 1905.
The company acquired the first
three of its present eight branches
by merger of the Home Savings
Bank in 1919. Resources on Octo-
Der 10 totaled $2O9, ,637,312: cap
ital stock. $3,40O,0o0; surplus.
S6.6O0, 900; undivided profits,
$1.745,959.
Barber e. Ross Votes SIS.
Directors of the Barber & Ross
Co.. wholesale hardware and
building supply firm. have de-
clared an annual dividend of SIS
a share on class B common stock.
payable December Is to stock
holders of record November 30, it
was learned last night.
The company paid So a share in
each OF three preceding years. Di-
|rectors felt that improved earn
ings justified a larger dividend, a
company spokesman said. =,
The company has $500 shares
OF class B stock authorized and
outstanding. The company's net
worth at the end of 1850 was ST.
496, ,42S.
100 Pet. Stock Dividend Paid.
Washington Sanitary Housing
Co. has paid 100 per cent stock
dividend to stockholders of rec.
ord November 81, President Ed.
ward L. McAleer disclosed yes
Iterday.
The distribution on December l
was accomplished by transferring
100000 from surplus to capital.
leaving surplus of $67,265. It in
creased the number of $100 per
value shares outstanding from a.
900 to 1000.
A bid of rs was posted for the
shares yesterday in the weekly
over-the-counter market list. This
was equivalent to $50 on shares
outstanding prior to the dividend.
Not taking the dividend into ac-
count, the. bid was 1876 a week
earlier. Assets totaled s474,552 on
April 80 this year.
Officers to Be Inducted,
A major feature of the annual
banquet of the Federation of Busi-
ness Mems Associations at the
Mayflower Hotel Tuesday night
will be the induction of new off,
GERS headed by the incoming presi-
dent. John L. C. Sullivan, of the
Northeast Business Mems Associa-
tion.
A tribute is planned to tn, re-
tlr1ng president, Jerome B. Nc
kee of the Georgetown Associa-
ton. who has served in Office for
two. and half years.
William j. Mileham, past presi-
dent of the federation, will serve
as master of ceremonies for the
entertainment program. MANY
distinguished guests from the Dis
trlct government and civic and
trade organizations will attend.
Yule Savings Club Started.
Anacostia National Bank will
have a 1852 Christmas Savings
Club, President A. Scott Offutt
announced yesterday. First ac-
counts were opened Monday and
the response so far indicates a
large club, he said. Accounts will
be taken at all four offices of the
bank.
The banks annual Christmas
Party will be held next Friday eve
ming at the Prince Georges Golf
and Country Club. ALI officers, di.
rectors, employees have been in.
vited.
They Raised Their Eyebrows.
Members of the Washington
Stock Exchange raised their eye
orows Friday when one of their
number posted a bid of $480 a
share for shares of National Saw
Ings & Trust Co. The bid prev.
ously was $470 a share.
The shares are seldom traded.
The last trade was in September
when z shares changed hands at
s465 and the only other trade of
1851 was for II shares at $46o.50
N June. 1851. In November last
year. a sale Of 8 shares at SAC
was the first in nearly two years.