Evening star., 1920-04-05
POUND STERLING IS
NOW QUOTED &.03
Capital Traction Head Not
AVerSe to a Mer-
ger.
BY q. 4. FLEMING.


All foreign exchange was decidedly
better today. especially the pound
sterling. Great Britain has given the
world an object lesson i'm the last
few weeks IN the proper manner of
gong about the equalization of tn
rNchauE. situation method that il
continued VIII CoufouGd the premier's
critics aud r"sEor" tn" poui.s :" it's
proper place ln tire world : moneys.
Tie steady advance from $3lS tn"
l"N point. when the trade hatanr''
VAS =" heavily against her ia the
Slo3 OF th.s morning has been
steady advance with bur Few stops
aud lttle hesitation.
Tho French franc advanced slight
IS. being very near Tho cent mark.
heiul, qu~tod az .p6sa while the ger
man mark has improved fractionally.
being quoted t0daY az .ol6, and the
/ Italian lire 1T .pit2.
Local stock Market.
There Gas only a light attendance
of lurlnhrls ou The local stock eA-
change AT II 10 This morning, the new
opening hour. a. the three-day hol-
lday had caused many ." forget that
such a ruling had been made.
business MAS reasonably actiNr.
without material Chang" ln prices
other thau a s0ftcnIuG IN M"iecn-
fhaler which "ased from i3' :"
1871. where the fual sac Was mad"
/ capital Traction shares sod sparinG
! lv al IS. The hid price ua Railway
and Electric common MAS r'iprod L"
l6 but the bid foc M" preferred
shares - Indicated considerable
strength. with none offered under "a
Washington Gas stock held At a..
| with - hid.
! The only business in bonds Was in
! Chesapeake aud Potomac -. which
! sold rather freely At @S.
| Takoma Park Hank.
The Takoma rarh Bank was or
"anized October !. 1917, the event
! being quite an important one for tn"
suburban residen"e section. The w"'-
come given The institution was sucil
that faN orable predictions were mad"
as to its future-predictIOns that haN'
been fully realized.
ON the last call Of the controller OF
the currency. February !, the hahk
reported deposits Of Ss46.S3l.1i. ana
thus morning the story OF over
million dollars in deposits was the
word given out by Samuel {. Redman.
president of the bank THIS gives II
/ "cedence over any suburban insti-
tuition near Washington.
incidentally the banking house, fur
nj we and fixtures stand the com
pany on its books at $4,000
4 Valuable Record.
Crane Paris X Co. are giving TO
applicants very valuable stock ana
bond register. by which one may at
ali times he posted on their rate of
Interest or dividend paid. date of bond
maturity. monthly returns. a record
of purchase and selling price. name of
trustee and date of coupons and dlHl-
dend due by keeping a record.
New York Market.
After the long adjournment the
market opened rather soft, the bull
iSh west being largely cut off from
the east by the heavy storm prevail
ing The advance in sterling was
big factor, but the bears were busy
and successfully SLOW, though rail-
lies We're frequent.
Capital Traction Willing.
Stock holders OF the Capital Traction
Company received. with their current
quarters dividend checks. a circular
letter from George T.. Hamilton, presi-
dent of the company. setting forth the
position of the company on a merger
of the TWO street railway companies.
Mr.. Hamilton calls attention to the
evident desire existing. through pub
lie hearings and proposed legislation.
for amerger of the Two systems. He
advises that the following is the po-
sition taken by the management Of
the Capital Traction Company:
"First-That merger could not be
a condemnation of properties, which
would carry with il, of course, just
compensation to the owners OF COM
panies who are the stockholders.
"Second-That voluntary merger
could only he brought about with ana
by the consent of the stockholders
"Third-That the management OF the
Capital Traction Company has never
opposed. but is, on the contrary. on rec
ord in the expression of a view favor
ont
and protective 10 its securityholders
and 10 the public. and providing
sound and safe direction, and thai IL a
plan for such a merger was AT any
time worked out or presented II would
he submitted to The stockholders. 10
beacted upon by them
The circular concludes with report
of the employees demands and the con-
CesSionS granted.
American Security Clerks Organizing
A meeting will be held on Wednes-
day evening of fhis week in the rooms
of the local stock exchange Tor the
purpose of organizing club among
the members of the employees OF the
American Security and Trust Company.
The purpose of the organization ls
for mutual benefit and Tor the eood
of the trust company and Its business
interest.
The publication of a monthly paper
is contemplated and probably when
the new building of the American
Security and Trust Company is erect
ed quarters viii toe found for The
club
Officials of the company are giving
every encoura ement 10 the juniors
in this matter. 1t is proposed 10 fol-
low the lines largely laid down by
the employees club OF the Guaranty
Trust Company OF New York city.
LIVE STOCK.
CHICAGO. April 5.-Hogs-Receipt