Evening star., 1921-05-23
LOCAL SECURITIES
SHOW FIRM TONE
Railway Common. 30: Prefer
red. 64-CIearing House
Examiner to Speak.
ny I. 4. FLEMING.

There was more business transacted
on the local exchange than for some
time. with a fair show of strength and
no indication of uneasiness among the
holders OF street railway securities
by reason OF fare agitation. resulting
from the failure of the merger ncgo-
| tiations. Railway common sold at 80.
while the preferred held steady at it's
high. Ga
Washington Gas WAS a little strong
er. selling AT A.. a fractional better
ment. while Mergenthaler held firmly
at Iell: The bid price on Lanston
was advanced fractionally. Disap-
pointment over failure to declare an
! extra dividend, an odd feeling for
. these days of cutting and passing.
seems TO be giving place to sstisfac-
tion at ability 10 continue at the reeu-
! lar rate.
| Washington Gas bs sold At IS Trac-
tion 5s opened at S1l2 and closed AZ s..
! on the call money market loans were
freely offered at T. per cent. with 81.
freely bid. no transactions made.
borrowing Heavily.
Minneapolis. Richmond and Dallas
ar" the regional federal reserve banks
, that are borrowing very heavily from
other reserve banks. However. there
| is material reduction in the $9,SS5-
! $24, 15S. 600 of A year ago. These are
! the cities that are called upon heavily
| to care for the agricultural popula-
ton. Atlanta is not a borrower At
other regional reserve banks. The
| reserves of the regional banks are in
creasing. Boston now boasting a re-
| serve of 10.6 per cent
| 1t is doubtful if lowering rates
would help the banks in the agricul-
tural sections, as they are generally up
4 af firr,.
Change of Firm.
| Announcement is made of the change
in the corporate name OF Collin Arm
strong. Inc, advertising agency. to
Smith. Sturges e. Moore. Inc.
This change was brought about
through the retirement of Colling
Armstrong from the company and the
purchase of the remaining stock by
Frank G. Smith. William A. Sturges
and Harold A Moore. who have for
the last two years been active in
the management of the affairs of the
corporation, Mr.. Smith as president,
Mr.. Sturges vice president and Col.
Moore as director in Great Britain.
No other changes are announced.
III. L. Cohen continues as director.
N. A. clark, secretary, and Charles
Hartner, l.. l.. Robbins and r. L John
son as account executives.
Convention Speaker.
1t is announced that Francis Coates.
Jr, clearing house examiner of Cleve-
land. has accepted an invitation to
speak at the coming convention of the
District Bankers Association at
White Sulphur Springs.
George o. Watson. chairman Of the
committee, is elated with Mr., Coates
acceptance. as he is a recognized au-
thority on bank accounting, and his
address may lead to the adoption of
some uniform methods of accounting,
which local institutions have been
working for with more or less per
! sistency.
His subject will be Auditing De-
partment of Modern Bank"
Business Sessions.
June and the Associa ton of Re-
serve City Bankers will meet at Buff
falo. There are but four members of
this organization in the city-Joshua
Evans. jr.: HI. L. Offutt. Z. L. Boiling
and John Poole.
H. L. Offutt cashier of the District
Bank. viii attend the sessions of the
association. leaving Friday for But-
falo by automobile.
The organization itself is a strictly
business one for the discussion Of
banking conditions and problems
Personal Mention.
Charles c. Glover was at his desk
To-Day after an absence of several
weeks He expects to be at the bank
steadily for some time to come.
James H. Baden. cashier of the Com
mercial National Bank, is resting
after a minor operation.
A. b. A. Election.
NJ. D. Rosenberg. vice president of
| the American Bankers AsSoo alton
for the District of Columbia an
nounces meeting Of the association
for the purpose of electing a vice
president for the District of Colum-
bia. member to serve on the NOM
mating committee and vice presidents
for the District for the trust company
division. the state bank division ma
| tional bank division and savings bank
division. The election will be held at
| the convention at White Sulphur
Springs.