Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-01-24
BANKERS APPROVE
DISCOUNT CHANGE
Action of Federal Reserve
Board Regarded With
Satisfaction.

fulneSS and an unmiStakable sense of
relief in banking circles today at the
action Of the Federal Reserve Board
in putting up discount. rates. On all
sides the step is regarded with salts
faction and as good thing for the
credit situation generally.
In comm enting on the rise the Wall
Street Journal says:
The raising of the bank rate to 6
per cent. as advocated and expected
by the banking interests, is a most
favorable feature for security values
and insurance for the future.
The bank rate is now. in both Eng
land and the United States. where it
should be. above the open money rate,
and if commercial and business in
terests demand expansion. the central
authority now has control of the
money market for the first time. and
can issue new money on proper and
regulatory basis.
There is more danger now from
advancing prices than from any de-
cline in sound values. but both the
money and security markets are well
in hand. and investments can be made
i'm greater security than formerly
when. the Federal Reserve Board was
not functioniHg properly
Expect Tax Reduction.
mere Is d u1SpOSltlOI nOteu III dC-
tive commission house circles to adj
wise purchase of. stocks on breaks,
since the announcement of the ad
vance in federal reserve rates.
Hopefulness finds expression in
well informed quarters closely in
touch with Capitol Hill looking to the
passage of law by Congress that
will materially cut war taxation.
Barometer shows Prosperity.
Word has just been received that
the National Cash Register Company
has completed the most successful
year in its history This is signifi-
can't fact, s cash register sales arc
business conditions. They measure
prosperity of communities.
Returns from all parts of the
United States and Canada show great
gains in sales last year. both coun-
tries producing double the business
| expected. The business for Januar.
already exceeds that of the entire
month of January last year.
Insurance Company Elects.
| At the recent annual meeting of the
stockholders of the Home Plate Glas:
the following were elected trustee:
for the. ensuing year: Byron S
| Adams, H. H. Bergman, Charles r
| Brown, Charles E. Hood, John B. Lar.
ner, Phillip F. Larner and Georgs
| Spransy.
The board organized by the election
of the following officers: John B
| Larner, president and attorney
George Spransy, vice president. anc
| Phillip F. Larner, secretary and treas.
| urer.
Hotel Company Election.
At the annual meeting of the Wash
| ington Hotel Company. which oper-
ates the Hotel Continental. the fol.
| lowing directors were elected: Will
! liam V. Cox, A. P. Clark, jr.: William
w. Noyes. Samuel J. Prescott. Thoma:
Somerville. Rynear H. Williams
Alexander Wolf. Cuno H. Rudolph anG
Simeon T. Price.
officers elected at a meeting of the
board included: Appleton P Clark
| jr.. president: Rynear H. Williams
vice president; Alexander Wolf, sec
| rotary, and William V. Cox, treasurer
Trading Fair.
Trading was fair on the Washing
ton Stock Exchange today. Two lot:
of Lanston Monotype, one of five
shares and one of twenty shares, solo
| at SAX.
Eight lots of Mergenthaler Linotype
six of ten shares, and one each of five
and eight shares. brought 1871.
After call two shares of Commercial
National Bank stock sold at 179. Two
shares of Capital Traction sold at 50
and seven shares of the same brought
$50. There were three lots of five
| shares each of Washington Gas solo
at As n and one share of Washington
Railway and Electric preferred solo
| at 5414 .