Evening star., 1921-08-15
SAY IMPOSSIBLE TO
CONTROL EXCHANGE.
locSl Bankers Would Wei
come Financial Conference.
. Local Securities Active.
ny !. A. FLEMING.

that supply and demand have always
regulated the market for foreign ex-
change. Just as in the elden days u
regulated the market fer New YORK
exchange in all the larger cities oi
the United States, hefare tRe inst''u-
tion of the federal reserve aSstem
with it's provisions for the transfer
of money by wire, without cost 70
the member banks.
Fiat money is not to their liking
and the theory of Il stable rate, un-
varying. in foreign exchange hnds
few advocates, much as such sta-
Obligation might be desired from the
standpoint of business recovery am
the measure of prosperity that u
would mean for the nations whose
circulating medium would he en-
HANGED thereby.
financial conference at the time
of the disarmament gathering might
bring forth some good results Al
that time there will he many of the
worlds leading diplomats ana husi-
ness men gathered in Washington.
Such conferences are sure 10 pf.hs
the brightest minds together, from
which some program for the worlds
welfare might he evolved
1t proba bly, will not be in the stahiiiza-
tion of the currencies of the World, tGi
just at this time. especially, TINS looks
10 br an impossihility- with the diStufe-
ance in the old earths affairs and the
aftermath OF the war unsettllng things
generally
ANY henest attempt at hetterment may
result in good with scarcely chance
for unfortunate results
As a matter at TACT, lf Suen Htase-
ment in exchange was possible, It Wouin
at once remove all restrictions in the
Way of our export trade--chlefiy the Ia
ability of Europe to RaS-but It isn't
Plan Inpsrtnnt Improvement.
The Second National Bank is about
ready to let the contract for impor-
rant improvements in its banking
rqoms. All this space on the nortn
side of the foyer will be given over
to safe-deposit department, with
coupon booths and consultation rooms
while u matter of 1000 modern safe
deposit boxes will be Installed ~ the
two large vaults al the rear OF the
building.
victor b. Deyber.sp .spresident of the
bank, expects to leave before the END
of the week on his annual vacation,
and hopes to let the contract, which
will call for considerable expenditure,
before he goes
the District Bankers Association, an
nouncss that the proceedings of the
last convention of the association,
held at White Sulphur, are now in the
hands of the printers, with prospects
OF early completion.
Big Day In Laeal Securities,
A record of $4,000 bonds. face val
ue, and lis shares of stock traded
in on today's session of the local
stock exchange has not been equaIed
for many weeks.
4 matter of $4,000 Georgetown
Gas SIS sold in eight blocks of $4,000
each helped out materially. but there
was enough other business to make
a good days trading average.
Georgetown Gas 5s brought 10
bonds for 1891.
RAILWAY IS were decidedly firm at
61I.A A block of $1,000 Potomac Elec-
trio Consolidated 5s brought S9A
Bond prices were slightly frmer.
Capital Traction showed easier
symptoms and declined from an open
ing at 81 to sSA on sales Of eighty
close.
Lanston attracted some attention.
and sales were recorded at "A.
An odd lot of American Security and
Trust Company stock brought 215.
Personal Mention.
James A. Cahili. vice president. of
the Commercial National Bank, was
at his desk this morning after two
weeks on the north share.
J'H Baden, cashier of the Com
mercial National Bank. is away on his
vacation.
G. F. jacobson, cashier of the
National Metropolitan Bank, is back
from two weeks spent in the noun
tains.
NJ d. Rosenberg, president of the
Bank of Commerce and Savings. left
yesterday with his family on a motor
trip to the Thousand Islands.
A. S. Galley, cashier of the Lincoln
National Bank. is back this morning
from a successful fishing trip.
Frank Owings. assistant cashier
of the Bank of Commerce and Saw
ings. has returned from his vacation.