Evening star., 1921-03-21
LIGHT BUSINESS IN
LOCAL SECURITIES
Values Firm-Dividends De.
clared-Finance Corpora
ton Grows Apace.
BY i. A. FLEMING.

Business on today'S session of the
local exchange was abnormally slow.
Not for months has there been such
restricted action Whether it IS tHc
beginning OF the dull season or lit
mains to be seen.
Bankers assert that their Gus tcine-s
have shown little interest in bonds OF
late. although they We're free sub
certificates.
Not single sale of bonds was made
on today's session. The bid and asked
quotations showed no mater:a! change
and the call of stocks showed all the
old favorites fairly well supported.
but with no business to amount to
anything.
Washington Gas "a notes rema ined
A sale of National Savings and
Trust Company shares was recorded
at ESQ and single share of Lanston
at 73.
Dividends Declared.
The American Security & Trust Com
pany will pay its regular quarterly diyi-
dend OF per cent April l to share
holders of record March 81.
The District National Bank will pay
per cent quarterly March 81 to share
holders of record March 26.
Personal Mention.
Floyd Davis president OF the Lincoln
National Bank. and j. F. Rice manager
OF the foreign exchange department of
the same bank, have returned from a
few days stay in New York. where Mr..
Rice studied his specially at the various
important exchange banks. Mr.. Davis
found business rather slow and banks
encouraged, while not oversatiSfied with
conditions.
Finance Corporation Activity.
semi-annual dividend of A.. per
cent on the preferred stock of the
International Finance Corporation has
Just been declared payable May l to
preferred stockholders of record
March 81.
In announcing the dividend, ]. A NJ
Adair. President of the corporation,
said that the International Finance
Corporation is now doing business at
the rate of over $5.O00.00O a year
During the past fourteen days the
corporation had placed s229,OO0 on it's
books.
This business in all proba bility
would have gone to some other city
had not our corporation been in a
position to take care of it," he said.
as 1t was class of commercial credit
business which the Washington banks
do not handle directly themselves.
BY purchasing good book accounts
and acceptances from manufacturers
and wholesalers our corporation and
similar commercial banking institu-
tions are performing an important
service at this time in helping to re-
store normal business conditions
Through such semi ba mixing institu-
tons as the International Finance
Corporation many millions of dollars
which would otherwise be tied up as
| frozen credit are being made avail
able for profitable use in active busi-
! ness.
, In the final analysis the sale of
open accounts only means the con-
version of an otherwise unbankable
/ asset into active working capital
Banks are not equipped or organized
to handle and safeguard accounts
taken as collateral
distinct advantage of our cor
poration is the fact that our business
is always in such shape that any one
months collections. plus cash ball
ances. will 1iquidate at any time our
entire indebtedness represented in
full by collateral trust notes out
standing regardless of maturities,
The corporation now has 1920 stock
holders. largely in Washington. with
a total stock subscription amounting
to over s5S0.Doo
Wall street Notes.
consumed the railroad dollars in 1920
March I. 1921. there were 2s.773 3o7
pounds of creamery butter in cold
storage Looks like there might be
some frozen credit liquidated, as the
grass is green. All told there are
13S 16l.4Ss pounds of foodstuffs in
cold storage
National Railways of Mexico show
cash on hand sS40.I74 and a profit
and loss deficiency of S169,445,025 for
1890 operations
s. Davies Warfield has offered a rail-
road efficiency plan.
The Sonora Phonograph Company has
oeciared the regular dividend on the
preferred shares, per cent. payable
April 1.
Phillips Petroleum charged og sl,s42.-
665 for depletion.
Increases in payrolls in ten of the
fourteen chief Industries is an
nounced by the Department Of Labor.
The largest increase is in the wooden
industry. The smallest in iron and
steel The largest decrease of en-
ployme mt is in hosiery and underwear.
Soft coal mining shows d very slight
decrease.
The National Bank of Commerce of
New York believes that money rates
will continue high