Evening star. [volume] (Washington, D.C.) 1854-1972, 1952-12-19

completed late in May.
The association which has con-
tinued operations in the tenn
porary Offices in the west end of
the building then will move back
to its old location on Eleventh
street.
Consumer Loans Lead Rise.
With a seasonal rise in con-
sumner loans leading the way, out
standing loans of IA Reserve men,
Der banks here on December 10
reached a new all-time peak of
1852. 776 900. gain of $2,616. 900
from a week earlier and $44,392,-
900 above the like 1851 date. the
Federal Reserve Bank of Rich
mond disclosed yesterday.
In an almost unbroken rise of
IS weeks, total loans have gained
$32,568,000 since August 81. Only
one week brought small set
back.
Commercial loans of $160,562,-
900 on December 10, also a new
high. were only $4,000 above a
week earlier, but $40, 892, 900 above
a year earlier. With the exception
of one week, they have risen
steadily for 16 weeks and now
are $18,523, 900 above August Is.
Other loans, mostly consumer
loans. reached $50, 222 900, a jump
of $1.010,000 in the week and
$13.032,000 higher for the year.
Real estate loans of $108,399, 900
were S659.000 higher in the week
and $7,773,000 above year
earlier.
Bank Increases Dividend.
Near the close of a record year,
directors Of the Citizens National
Bank at Alexandria yesterday de-
clared a semi-annual dividend of
rs per cent or IS cents a share
on $40 per capital stock. payable
January to stockholders of rec
ord December 81.
The bank paid semi-annual
dividends of 60 cents each in 1851
and so cents for the first half of
this year. With assets currently
around $29 million, it remains the
largest bank in Northern Virginia.
Earnings before taxes will set a
new record this year. but what
big increase in taxes will do to
final results is uncertain, said
bank official. He estimated the
bank will pay 1922 a share in
taxes this year, compared with
$297 a share last year. The tax
total contrasts with $135 a share
for stockholders.
Vepco Net Improves.
Virginia Electric & Power Co.
had net income of $988,468 or
14.7 cents a share in November,
compared with 1892 .909 or IS cents
a share in November, 1851, the
company reported today.
Net income for II months this
year amounted to $11.579,7 65 or
$1.79 share on the average num-
Der of shares outstanding in the
period. compared with $10,246, $50
or SLIP year earlier.
Directors of Coastal Finance
Corp. have. declared it's 18th con-
secutive quarterly dividends of so
cents a share on class A stock and
Is cents a share on the 6 per cent
preferred stock, President Frank
B. Bush announced.
The dividends will be payable
January l to stockholders of rec
ord December 20.
Organ in Bank Lobby.
American Security & Trust Co.
has placed an organ in the lobby
of it's main Office and Marvin
Fewell will entertain with Christ
mas music from noon to 2 pm.
daily. except Saturday and Sum-
day. Employees will sing carols
each day at 1890 pm.
A profit-sharing Christmas bonus
will be paid to all employees of the
Fred S. Gichner Iron Works. Fred
S. Gichner, 83-year-old president
and founder will make the pres
Sentation.
A cash bonus totaling $500 will
be paid to employees of Herson' S
Auto Services at the firms Christ
mas party Saturday at the home
Of President Nathan Herson.
d. C. Representative Named.
Joseph S. Fragment has been
named government construction
representative here for the Struc-
tural Clay Products Institute, eff
fective January /.
Eugene L. Smoot, who started
as an Office boy IS years ago, has
been appointed manager of sales
special accounts in the Washing
ton Office Of United States Steel
Corp.