Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-24
EXPECT ACTION ON
RAILWAY DIVIDEND
Strength of Stock Taken as
Favorable Indication.
Sale of Certificates.
By 1. A. FLEMING.

w
way and Electric Company will meet
within a day or two. when the mat
ter of declaration of dividend on the
preferred stock is likely to be
brought up for consideration.
There is feeling in local financial
circles that the Potomac Electric Power
Company stands an excellent chance
Of being given the increase in rates
that it has asked for. in which event
it would seem to be an easy matter
for the Washington Railway and
Electric Company to maintain the
preferred dividend indefinitely.
Yesterday the stock improved a
point without inducing any selling
movement to amount to anything.
Brokers on the local exchange seem
to anticipate some dividend action
soon.
Calls for Cash.
The Richmond Reserve Bank has
called on the bankers of the fifth dis
trict TO pay into the institution 30 per
cent of the balance to the credit of the
war fund resulting from the sale OF
The next to the last issue of Treasury
certificates.
This still leaves a little cash in the
banks from the sale of certificates.
Some local banks have received the
full amount of their subscriptions TO
the recent issue of 8 per cent certlh-
Gates. dated August Is. while others
have not been notified of allotment 1t
is probable that the full amount of
subscriptions will be taken; indeed. one
bank with orders in for over 100000
certificates has received its Iuli quota.
There are still orders from would-be
buyers that have not been filled. and it
is likely that the issue. paying per
cent. will eventually sell at a small
profit. 1t is recalled that the one
previous issue of Treasury certificates
that carried the per cent rate sold
TO 100is. The demand for the latest
issue was even greater than for the
former.
Personal Mention.
Harry V. Haynes. president of the
Farmers and Mechanics National
Bank of Georgetown. has returned
from Atlantic City. AS chairman of
the committee on entertainment he
tee this afternoon at HEADQUARTERS,
Gridiron room of the New Willard.
Corcoran Thorn. vice president of
the American Security and Trust Com
pany, has gone to New Hampshire for
few weeks rest. In the meantime. How
ard Moran, vice president, is holding
down the executive chair of the in
stitution.
Railway Common Leads.
On today'S session of the local
stock exchange lis shares of Railway
common changed hands. most of it at
As. when the bid was advanced to
ASK and the final sales made at that
price. The asked price at the close
was A.
The general list was entirely
neSleced and the bid prices showed
the determination of buyers to OBJ
tain bargains or stay out of the mar
ket. 4 few shares of Mergenthaler
sold at 1225s and Potomac General IS
at 80.
Trying to Stop Declines.
Advices from the south and west
indicate that cotton and wheat grow
'ers are taking steps to check the de-
ClineS in these commodities through
urging producers to hold back their
cotton and grain from the market until
there is turn for the better.
The condition of the money market
does not offer much encouragement
in aid of delays in crop marketing.
Considering Adjournment.
Members Of the New York Stock
Exchange are urging the governors
to adjourn the exchange Saturday.
September 4. and this. with the Labor
day adjournment. would give the
members three successive holidays.
Urge Exchange of Bonds.
Federal reserve bank officials are
urging holders of temporary third
liberty loan bonds to change them
are ready for delivery. Delays in
conversion Will result in delayed
payment of interest thereon Septem-
p Der Is, when the next coupon is pay
able. The last payment of interest
on these bonds was made in March.