Evening star., 1921-06-24
EASIER TREND SEEN
|. ||NLOCAL MARKET
Security Storage Declares
Extra Disribution-Gus-
eminent Finances for Year.
BY I. A. FLEMING.

BY l. A. H1AmINOs
Washington Gas bs were marketed
rather freely on today's ssse3on Of the
local exchange. Bonds were sold IT
n as long as this price was bid. Later
the bid price was reduced to 76h.
with the bonds stin offered at II.
Capital Traction SIS. eased to S7A-
Capital Traction shares declined to
SbH, and a few shares of Mergen-
thaler sold at ia
Business was By no means active,
md the bid and asked prices on a
number Of securities were lowered.
Columbia Graphophone preferred
sold on the New York Stock Exchange
this morning at 21A a share-stock
that was put relatively short time
ago at e5 share, without bond or
other debts ahead of it, and with
preference as to assets and dividends.
Dividends Declared.
Norfolk and Washington Steamboat
Company Will pay 3 per cent quarter
ly dividend July 1 books are closed.
American National Bank, quarterly
diVidend of 2 per cent is payable July
i TO shareholders of record June 25.
National Capital Bank will pay
per cent seini-annual dividend June
50: books closed June 81 to 30.
Federal National Bank will pay 4
per cent semi-annual dividend July
to shareholders of record June %.
Farmers and Mechanics National
Bank will pay 4 per cent semi-annual
dividend July 1 to shareholders OF
record June 25.
Security Storage Company win pay
the regular quarterly dividend OF )
per cent July /, and an extra distrt-
button of ] per cent on the same date
to shareholders OF record June 80.
Government Finances.
As the fiscal year Of the government
draws to a close, the fiscal results are
being considered. The second in
stallrneEt Of income and excess profits
taxes, June Is. We're nearly 10000. 900.
with the expectation Of an additional
100000, 900 when the tabulations are
all in.
This would seem to indicate that
taxes are holding up much better
than expected. Tax and miscellaneous
collections for the fiscal year will, 1t
is believed. total about $4,000, 900, ,00G.
and expenditures win be slightly be-
low that amount
June tax collections, SO far, total
$51S, 100000, as compared with $780,
100000 for June, 1920.
Customs receipts this month total
Sl6.7S0. 900 a loss of about a million
dollars Panama canal tolls during
June were s244.3S2. or but about one
third Of the total of June 1920, indi-
eating the complete business stagna-
tion of the world
States continues to increase at e rate
that Is not entirely satisfactory to
the friends OF the gold standard The
United States holds 81 per cent OF the
worlds gold and the supply Is con-
Stantly increasing.
Personal Mention.
Donald NJ Earr, formerly chief OF
the bond division Of the Federal Farm
Loan Board. Washington, has Joined
the mortgage investment department
Of the F. h Smith Company.
Financial Notes.
Reading In 1920 earned tho divi-
dends on first and second preferred
and a sum equal to S4.35 share
or the. common stock. Gross receipts
increased $s1S,7o0; ner incoric gained
$45c.441, and tho balance Tor the
than In 1919.
The Foreign Trade Banking Cor
poration, the pioneer of the foreign
discount bank, will be dissolved The
corporation is said to have no debts
and the liquidation. therefore, Is en-
tirely voluntary. Max May and
George A CASTOR were the organic
ers Of the bank .
Depression in the market for I'm
ished steel is said to be CROWNS
ting are freely made.
The Boston and Maine Railroad
Company applied to the Interstate
Commerce Commission for loan OF
i$3 ,049, 900 to enable it to meet trans
ssportation needs.
G. B. Evans in his Chicago letter
ito the Ledger, insinuates that Chicago
!. :.-yvouid like TO know il New York
banks are goinS to replace some OF
tthelr present heads with old-styie.
cautious old-time bank
fpresidentS"
. Southern Railway Company has
spaid the War Finance Corporation
IS, 900 O0o on account Of an advance
1,of S7.4eo,oO0, made to the road in
1913. Illinois Central Railroad Com
sspany is doing its best to bring about
San Improvement in business In 1920
:it earned a net income of $13.431, ,841
,equai to s12.2s a share on the stock
The company has contracted foF sew
enty-fve locomotives, ffty-nve pas
senger coaches and 1,55o freight cars
at a cost of $13. .00o.
It is suggested that the fs1noads
Of the United States be given the
right to fund their debt to the gov
ernment for additions and better
ments made during governmental con-
troll Refunding is popular these Gays
and there should be no opposition 30
this proposition
virginia Carolina Chemical passed
its preferred dividend 1t IL cumulA-
tive and the company must pay m
terest so long as deferred
Copper at 13 cents pound rs at the
low price for many years.
Chain torres report less total sales
IN May than in April. Sears, Roebuck
& Co.'S decrease was 81 per cent, ana
Mont teomery Ward &, Co. lost 80 per
cent. The cheap stores showed good
gains. Sears, Roehuck's manager
saws prices are now 25 to 80 per cent
below those of a year ago Montgom-
cry Ward places the decrease at 20
per cent
American International Company
security holdings are said to be worth
at present market prices S33 a share
en- the stock of the corporation.
Quaker Oats Company passed its
common and paid its preferred dfvi-
dend-