Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-10-21
LOCAL LIST FIRM,
TRADE LESS ACTIVE
Higher Prices Cause With.
drawaI of Offerings-Sav-
ings Banks Objections.

while there was nothing like the
activity on todays session OF the 10.
cal stock exchange that there was
yesterday. there was no disposition to
shade prices. indeed the higher prices
ties may have caused the withdrawal
Of certain stocks from the market.
Railway preferred was very strong
az %. There was nothing new in the
dividend discussion. but general opin-
ion Is that the declaration will be
made at the next meeting of the board
OF directors.
Lanston was less active. but there
was q good demand for the stock with
S2h bid steadily throughout the SEES
sion and with few shares sold al
that price.
Union Trust Company stock sold a,
119.
In the bond section Railway a were
wanted at SAN and Potomac Consoli.
dated SIS at 7sk.
Uniform Hours Discussed.
Savings bank officials have dis
cussed. informally, during the week
the proposed uniform hours of bank.
ing IN Washington. but the conven.
ZION activities have prevented a meet
ing to consider the probable action
'Ah6o udHhS take. Inc
mater VIII probably be taken ul
next week. Considerable opposition
Is Ielt to the plan of the Clearing
rouse Association. as it would pre-.
vent savings banks from doing bust
ness after o'clock save on stipulated
days in the month.
Declared Regular Dividend.
The National Savings and Trust
company directors have declared the
regular quarterly dividend Of 2h per
cent payable November l, books clos
ing on the 25th instant
Wise Management.
The United States Steel, Corporation
mas working capital Of $56SSsS.
an amount larger by $326,9S1,
IMAM 1T was January l.. 1915. 1t is
corporations and one of the best and
most conservatfvely managed.
Next to the big corporation comes
S"lIt q Co.. then Armour & Co. and
tEen International Harvester Corpo-
ration, in the matter Of working cap
r.ai. with Swift & Co, showing a
January 1. 1920. s1ss,567.s33 greater
tnan on the same date in 1915.
me Steel Corporation has about sixty
Gays longer in which to ACQUIRE the com
nor mon stock approximately about 1880.
ooo snares, for its employees. Present
market price is about sixteen points 10.
10" the last allotment figures
B. & o. Buys Equipment.
The Baltimore and Ohio Railroad
company has arranged to spend about
$14,000,000 for new equipment throush
the National Railway Service CORPORA
tlon. The company has asked the In
terstate Commerce Commission for the
right to buy the equipment needed and
10 make the needed note issue to nav
for the materials and equipment, The
company wishes to withdraw $500 .ooo
OF Its general refunding bonds which
Will be pledged as part Of the collateral
PACK OF the purchase. One thousand
box cars are needed. 1900 hoppers, 500
refrigerator cars and so locomotives.
Form Alumni Annexation.
One Of the delightful and productive
meetings Of convention week was the
dinner given at the New Willard Tues
Gay evening for graduates of the Amer
lean Institute. Of Banking. -4.~,e
About Il so graduates were present,
brought together through a desire to
form an alumni association to hold an
nual social gatherings during the Amer
lean Bankers Association convention
week and to further the cause of the
American Institute of Banking through
out the nation.
Edward J. McQuade. member of the
council of administration of the A. I. B.
and vice, president Of the Liberty Ma
tional Bank. had thf ActivS arrange
in charge, and it wis "a success from
both viewpoints. -ss.s4..He = 2, .~sssse,s7
An alumni association was formed
with Gardner B. Perry as president and
Richard W. Hin as secretary, The as
ISOLATION will not have any initiation
fee or dues. Membership availability
requires graduation in the educational
course of the American Institute OF
Banking - a.--ss.
Addresses were made at the dinner by
Richard 81. Halves. president Of the A.
B.. A John s. Drum, whOwill be named
president at this convention; G. F.
Bowerman. secretary: Thomas B. Nc
Adams and r. N. Harper
1t is obligatory that the president OF
the alumni association must himself be
a graduate Of the institute.
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