Evening star., 1921-08-22
CAPITAL TRACTION
SHARES ARE Lower
Some Encouraging Signs.
Committee to Report to
Merchants Bank Directors.
BY I. A. FLEMING.

On today's session of the local stock
exchange Capital Traction shares
made another decline, selling to .S5A
but only one twenty share lot
sold at this price.
A feature of the session was the
sale of 100 shares of the preferred
stock of the Old Dutch Market Com
pany, the price being Z. This is the
hrst transaction in the shares of the
corporation reported so far this year.
The last previous sale was at 10.
Railway As were active to the eX
tent of five $1,000 lots. all at 81 y.
. Gas 5s We're firm, but slow at 761s.
Business mt the Banks.
Business at the banks was very
quiet. r n. Harper, just back from
New York city. said: Bankers there
are glad TO talk with you-they have
nothing else to do" 1t is getting like
that here
Neither the Federal Reserve Board
nor the Richmond regional bank have
had anything to say to member banks
for some days.
Bankers have had their ears to the
ground waiting for the reduction in
the rediscount rate, but so far have
tailed to catch the slightest response,
although II is known that the banks
nave millions they would like to have
working.
Washington financial circles were
grleVed this morning at the death of
Mrs. Richard S. Hawes. wife of the
former president of the American
Bankers Association. at their home
in st. Louis yesterday.
At the American Bankers AsSocia-
tion convention here last October Mrs.
Hawes shared with her husband the
honorS II the occasion. attending
nearly every session and meeting more
or less intimately the delegates and
their wives and friends. She was
possessed of a wonderful memory
for names and faces. and seemed to
recall large part of the delegates
and visitors by name.
She has been an invalid for five
months.
Committee to Report.
There will be a special meeting of
the directors of the Merchants Bank
this afternoon TO hear a report from
the committee appointed to investi
gate progress ~ the sale of the South
ern building and on other matters con-
nected with the 'probGble purchase by
the Merchants Bank of the banking
room in the southwest corner of the
building.
Final action on the matter will be
taken on Thursday of this week at
the regular meeting of the directors.
1t is reported that the entire main
floor of the building has been taken
or is under option
Hopeful business Views.
Dun's Review finds some satisfac-
tfon in the fact that "the many prob
lens and complications which have
seriously affected trade during the
past year or more. and which were the
outgrowth of a very abnormal condi-
tion, are gradually being met" and in
the further fact tn The revival of
business makes slow but fairly steady
progress"
Lack of confidence in future values
/ is given by this authority as the cause
of the slow pace.
Cotton trade and shoe and leather
business lead in the betterment in COM
mercial lines and a healthy growth in
construction work is recorded.
Liquidation of old accounts is said
! to be slow and some failures are noted
| as result.
A. A. Houseman & Co. New York
brokerage house with local offices, says:
1--WE are not going to turn the corner
| en- two wheels. but will observe the
speed laws and veer around on the road
to recovery on all four wheels. We hear
stories of disappointing business at sum-
mer hotels. at theaters and other lines
catering to amusement and recreation.
We see reduction in the purchase of
luXuries and semi-luXures. What can
not be seer readily is the basis of i'm
provement in the fundamentals, the steel
industry, the copper mining industry
and the better position of the farmer
We think the stage is being set for
better things in these directions