Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-18
HEAVY selling TO
ESTABLISH LOSSES
Action on Local Market Un'
usually Active Along the
Lines Suggested.

Apparently there was big business
transacted Oil the local stock ex'
change today, much larger than thu
usual volume of Saturday trading
never very large.
Large sales of Mergenthaier were
recorded at fluctuations between
I20k and 120s. with apparently many
matched orders. which would indicate
more or less plainly the fact that the
trading was in the nature of taking
losses for tax purposes.
The same may be said of the heavy
daily sales and purchases Of Railway
As, another $4,000 changing hands
today at SO, the StereOtyped price OIL
the entire week.
Railway preferred showed a little
more firmness, with sixty shares go
ing at 81.
Washington Gas.(4o. and Washington
Gas SIS. 20.
An unusual transaction recorded
was that of 100 Graphophone pre-
ferred stock at 81. This is the first
transaction on the local market FOR
months, the last previous sale being
at SIS. The decline has not been un-
expected, is it but reflects the steady
weakness in the stock in New York
and drop in prices there.
The company still is paying its
common Q1NiOeHus anu until tfdt IL
cut OFF there would seem to be no
danger to the preferred dividen nd.
Holders have something to think
about these days. in the big plans for
expansion made by the company dur
ing the first months of the year. plan
ming for great increase In business
that has probably not materialized.
IL il had it would be an exception
TO the rule of most industrial con-
Germs.
Declares Extra Dividend.
Directors of the Bank of Commerce
and Savings met yesterday afternoon
and declared the regular semi-an-
nual dividend. and then added an ex-
ira of I per cent.
Both the regular and the extra are
payable January to shareholders of
record December 20.
Just another indication of the pros
perity of local fiscal institutions dur
ing 1920.
Names OrEanixAefon Committee.
John McHugh. chairman Of the COM
mittee on the Organization Of the
Foreign Trade Finance Corporation.
capital. 100000, 900. announces the
following as the personnel OF the ex-
ecutiye committee, which he was au-
thorized to name at the Chicago gath
ering, where it was decided to form
such a corporations: Messrs. Fred /.
Kent. vice president of the Bankers'
Trust Company; Paul N. Warbufg,
New York cityi Thomas E. Wilson.
president Of Wilson g. Co.. Chicago;
Julius H. Barnes. Barnes-Ames Com
pany. Duluth: Lewis E. Pierson. chair
man of the board Of the Irving Na-
tionaI. New York city; Herbert My
rick. treasurer of 1.-THE Orange Judd
Company; Charles A. Himself, preei-
dent of the Fifth-Third National OF
Cincinnati. and George NJ. Smith.
-
Company. New York city.
This is very strong committee and
is in itself an assurance that the
plans formulated at Chicago will be
carried to successful completion.
Desires to Hold Gold.
John Burke. recognized as treasurer
OF the United States, 10 opposed to the
giving OF gold for holiday gifts. de-
string to continue the control of the
give nothing but old gold on gold GER
ttdcates and no coins Of $3.50 valua-
ton.
Discuss Par Clearanees.
! Discussion Of par ciearances, ono Of the
most vital questions affecting many OF
the smaller banks of thas8oVthkrn and
western sections Of the country was
taken up at a joint meeting ~ national
and state bank Committees yeof4 the
american Bankers Association i at the
Washington Hotel today. - 50 5s4
Those representing the national bank
committee included NJ J. Downing,
chairman, president of the Olivia State
Bank Of Olivia, Mimi; McLane Triton,
president Commerce Bank and Trust
Company. Charlottesville, Va, and
Charles B. Claiborne, vice president,
Whitney Central National Bank, New
Orleans. La: Fred Collins, vice presi-
dent. Bank Of Commerce and Trust
Company, Memphis. Tenn, and E. ".
Wing OF La Crosse. Wis. !; the two other
members OF the committee were Unable
to be present.
Others besides Messrs. Bowling and
Tilton Of the state bank committee in
attendance were ]. J.. Early. president
Bank Of Valley City. Valley City, ". D.;
James S. Peters. vice president Bank
OF Manchester. Manchester. Ga; will
liam B. Hughes. manager Omaha clear
ing house. Omaha. Neb.. and Ramsay
NJ. Walker. vice president Wallace Bank
and Trust Company, Wallace, Idaho.
George z. Allen Of New York city
Is acting as secretary.