Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-10-27
MAY:COMPROM|SE
Z .ONUN|E0RM HOURS
Right to Do Business Satur-
day Night Suggested-Lo-
cal Utility Stock Firm.

eVentudbS De compromised DS d tuEtntx
mod fcation OF the proposed CleartElD
+. House Association hours by the extern
sion of the privilege of keeping open
Saturday nights to the savings banks.
This Is the view of a representative
Of one OF the largest national institutions
familiar with the savings banks views.
He declares that iii the. savings banks
Nwill agree to accept the clearing house
: NQurs. $50 am. to pm, with excep-
',9ns. government pay days. the day
{; Yer and on Saturdays when ~ o'clock
~ named as the closing hour. provided
they are allowed 10 keep open Saturday
nights. then I for one am in favor of
making the compromise.
Another banker declared that sew
eral of the larger savings banks in
the downtown district had tried the
Saturday night opening and had VOL
UNFAIRLY quit the practice as a losing
proposition.
The cashier of another savings bank
an the downtown district declared
that il would be "a grea, saving in
cash II We could close at o'clock
IN the afternoon and not reopen again
through the ability to conduct the
business of the institution with less
help
Directors of large Savings bank
IN the northwest section met last
. night to consider the matter. As a
I result the question of holding a meet
ing OF savings bank representatives
was discussed this morning. Among
other bankers in the same line but
because there had been no agreement
as TO policy reached. it was believed
that a meeting at this time would be
premature -
1t was stateai1 ha, court action might
result from. sTsstraint of trade" should
Inc clearing house hours be enforced
Clearing through Baltimore for saw
ing banks WAS also considered
T. IT y recognized that any change of
a radical character in the method of
flearins checks now in vogue would
class and also for their customers.
hence the idea of a further compro-
mise that might bring about the de-
sired harmony. avoid hard feelings
ana great Inconvenience to all con-
earned. should the savings banks
withdraw from associate n,embarshin
: In the Clearing House Association
Railway Bonds Wanted.
Railway 4 per cent bonds continued
tnelr, advance on today's session of
tne local Stock EXCHANGE On cali
me nrst 1000 bond sold brought 5Sh
then $500 bond sold at 5s,.. After
can s1,soo sold in single lota. the
sale fractionally higher until 57s,
vas reached, net gain of y durins
the session. M
Railway preferred sold to the extent
OF nftE shares. all at So the top Of
the present rise, while 54I. was frnaiv
under IS gu
Washington Gas shares Joined the
proceSsitsl of utility secur' ties on the
upward trend opened around "a. sold
AZ - ana later to ~ and AN The
offical quotations on the stock eyrfa nee
gave the closing bid as as ana the ash
leg price. 4S1a
CAPITAL Traction moved I'D fractional
~ TO strong. IS to Ssl.. with ss1i bid
at the close and sSss asked.
In the midst of the squirt in utilities
the typesetters were practically neglect
81, but nominaliy firm Wash nston
share
Directors Meet Today,
Directors of the Washington Railway
and Electric Company are scheduled IA
meet TINS afternoons It .isr generally be-
son will, be the preferred dividend and
rsvorahle action for the last half of the
yeaF. declaration of 21s per cent is
expected.
=, Is Per Cent Dividend.
Directors Of the Merchants Transfer
ana Storage Co. have declared % per
cent stock dividend. payable November
!, TO shareholders of record October "a
The company pays IL per cent an
nualfy on its stock. The last sale of
the stock was at 100 and this price
has been steadily bid. The stock diyi-
dend will be paid through the issu-
ance of 100000 authorized but unis-
sued stock.
May Issue Securities. ga
The Interstate Commerce Commits
SION this morning granted the New
York. New Haven and Hartford Railroad
Company the right to issue $4,000, 900
per cent promissory notes, $4,000. :
600 equipments. of which $500 600
shall be class A and the balance class
b notes The rate is 10 be per cent
Il. The steel Dividend.
Clark Childs of New York and Chi
cago has this to say:
One could not expect more than
the regular United States Steel diyi-
dend at this time. for business condi-
tons are far from settled, but the
prospect for extra distribution later
IL bright. In the September quarter
the earnings after liberal deprecia :
ton charge. were S4.75 per common
share. against s1.25 paid Here il the
meat of the whole situation: United
states Steel promises to earn for it's
common stock in 1920 about sIS-
gper share after unusual costs result
Ing from war requirements and losses
on inventories. -
ut would. however be easy to at
tach too great Importance TO the
for the third quarter of 1920 Some un-
usual factors were operative to swell
earnings beyond the point to which
they may run in the current quarter
to judge from accounts of curtaiI-
ment of production and decline in
orders being experienced by indie
pendent mills. particularly in the
Pittsburgh and Youngstown districts
We should remember that L. 3
Steel. like all the little fellows. had
Z. fa@
fast in many plants which il could no,
move out of the mi yards because OF
railroad congestion in the first sjx
months of 1920, and that relief OF this
situation has enabled charging up tC
earning account of goods produced
Garner in the year. but which could
Ne billed only when shipment was
made.
Washington Chapter Activities.
More than $50 members. many of
them women, attended the opening
aight of the elementary class OF
Washington Chapter. American In
stitute OF Banking, at which meetine
George o. Watson. president Of the
Liberty National Bank and past pres
spoke on Bank Organization"
burins the course of the evening
Mr. Watson pointed out the many
benefits to be derived from work
with the chapter. and named several
mon who are now presidents and
Gus examples of the result of consci
entious study of their profession.
Mr. y" Alison said that the first tim,
Frank @. Addison ever spoke in pub
sic was one evening at the chapter
sion, of how the Baltimore commits
sion merchants transacted privat,
banking business. That was in 1905