Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-10-08
H|GHERPR|CESF0R
THE TYPESETTERS
Small Certificate Issue An
nounced - Court Orders
Dissolution of Reading Co.
BY i. A. FLEMING.

There was more business transacted
on the local Stock Exchange in this
mornings session than for many days.
the activity being accompanied by
sharp advances. especially in the type
sc tiers. which furnished the bulk of
the trading.
In all ninety five shares of Lanston
Monotype changed hands from an
opening at 73S by steady advance to
-, and then the final jump carried
the price to IS. this being bid at the
close with none offered
Mergcnthafrs. which has been de-
cidedly sluggish for many days. also
made a fresh start. advancing with
out intermediate sales TO l24}2. as
compared with 1879. the last previous
sale.
A single share OF Railway preferred
sold at ,515. Capital Traction was
strong at SO, several sales being re-
corded Second National Bank stock
sold TIC the extent of ten shares at $50.
Bonds were neglected.
All Ready for Convention.
The chairmen of all committees of the
District Bankers Association. having
charge of the entertainment and care
of the guests to the American Bankers
convention. met last night at the New
Willard in response to a call by X n.
Harper, president. and reported compile
. tiop to the final detail of all arrange
|ments for the entertainment and COM
fort of the associations guests
Investment Bankers Convention.
Roy C. Osgood, vice president of
ithe First Trust and Savings Bank OF
chicago, has been elected president
+of the Investment Bankers 4ssocia-
|,ion. Mr.. Osgood is we'll known in
Washington, coming here frequently
bin connection with Treasury matters.
| Eugene Z. Thompson of Crane, PAR
Iris & Co., local investment bankers.
fwas chosen a member of the board OF
governors. his term OF once eN-
RpiFing in 1923.
The educational committee of the
|askociation undertook the prepare
|tion and publication of four new
|books-"The Legal Aspects of the
transfer of Securities" The Work
|of Cashiers Cage" an outline on IN
|dustrial Securities and an outline on
RAILROAD Securities"-which will be
|ready for circulation in the near
future. conditions in printing houses
being responsible for the delay.
by. the largest gain in membership.
financial conditions ana
|efficient work by the committee in
pushing blue sky" laws.
Reading Decree Issued.
The federal court at Philadelphia
to-day handed down a decree ordering
1.-THE Reading company to hie within
ninety days a plan OF dissolution OF
1.-The alleged combination of the Phila-
|delphia and Reading Railway Com
|pany, the Philadelphia and Reading
Coal and Iron Company, the Central
Railroad of New Jersey and the Lee
high and Wilkes-Barre Coal Company.
lin accordance with the decision OF
the United States Supreme Court, rem
|dered last spring.
The court also granted the Reading
company the right to secure proxies
from stockholders for the purpose of
voting them on October IL in the cleo
|tion of new directors for the various
Under the decision hand
led down last spring the Reading
company was restrained from exercis- |
ing such right.
The Reading company a holding
concern, owns the entire issues OF !
stock of the railway company and OF |
1.-THE coal and iron company. 1t also
stock of the Jersey Central. which, in
turn, owns $S.4S9.400 of the $4,000 600
|of the Lehigh and Wilkes-Barre Coal
Company.
The federal court, sustained by the
|Supreme Court in May, decided that
violation of the commodities clause
|of the interstate commerce. act. The
Reading company appealed. and the
|Supreme Court. on June I, refused to
|entertain the appeal.
There have been many rumors as to
what form; the plan for separating the
|several companies into independent
entities will take. but nothing official
has come from the Reading company.
Reports of melon cutting among
Reading stockholders when dissolu-
|tion takes place were neither con-
|firmed nor denied