The Washington herald., 1921-07-16
MODERATE TRADE
RULES ON LOCAL
STOCK EXCHANGE
Transactions Variegated,
With Prices, as Whole,
Strong.
7K% GAS NOTES DROP
Sell at 103 During Session.
Local Financial Personals.
I Cotton Plan.
7H% GAS NOTES DROP

Moderate activity in which trad
ing was we'll variegated was char
acterized on the Washington Stock
Exchange yesterday. Prices, gen.
orally. held hrm except in the case
OF Washington Gas III per cent
notes. which dropped to 1o3. or
full point under the previous close.
Sales. totaling 5000 face value.
were made in 1000 lots. Potomac
Electric general mortgage IS sold
to the extent of $4,000 at ssh. while
$500 Washington Gas IS sold at
7sK.
Capital Traction assumed the
leadership in the stock list, sales
totaling eighty-two shares OF this
security being made at STA
Twenty-Five shares Of Mergenthaler
changedshands at 11s and 117%' and
ten shares of Lanston at TAN and
74h. Two shares OF American Sc
curity and Trust Company stock was
also sold at 225.
Call money again ruled at per
cent bid for per cent funds.
Improvement Progressing.
The vast improvements being
brought to bear on the National
Bank Of Washington have prog
ressed to such an extent that part
of the bookkeeping department Of
the institution are already occupy
ing their new quarters. Work on the
changes is going forward very rap
idly, and officials yesterday stated,
will be completed before expiration
of the original allotted time. The
bank will then rank with the finest
in the city.
New Vault Arrives.
The latest thing in burglar-proof
safe-deposit vaults arrived in the
city yesterday. the property of the
northwest branch of the Washing
ton Loan and Trust Company. The
installation will be completed by
August 1.
Personals.
John B. Larner, president OF the
Washington Loan and Trust Com
pany. who has been spending the
past few weeks motoring through
New England and at his home in
Miffintown. Pa. will return to
Washington on Monday.
wistar Balderston, manager of
Kann's and director Of the Standard
Savings Bank. is spending a few
weeks vacation at Haines Hills,
New York State.
II. G. Meem, vice president of the
Washington Loan and Trust Com
pany. will return to Washington
Monday after spending a month at
Atlantic City.
J. z. Troth. of the Pank Of Com
merce and Savings, viii! begin two
weeks vacation at Ocean Grove.
y. j.. on Monday
Charles r. Grant. treasurer of the
Washington Loan and Trust Com
pany. has moved his family to SOM
erset for the balance of the summer.
Edward ]. Stellwagen. president
of the Union Trust Company. is in
Poland Springs, Me-. for his annual
vacation. He will return to this
city in early September.
To Decide on Plan.
Eugene Meyer. jr.. managing di-
rector of the War Finance Corpo-
ration, announced yesterday the re-
ceipt Of telegram from the Federal
International Banking Company of
New Orleans, which stated the COM
pany would work out a plan for
dealing with considerable quanti-
ties of cotton under the corpora
tion's new policy for financing ex-
ports on either prompt or deferred
payments.
The telegram. he added. has been
followed by a tentative proposition.
involving the financing of $4,000 to
10000 bales of cotton for export.
The loan of, s5.000.O0O on Missis-
sippi delta cotton. announced last
week. Mr.. Meyer said. had led to-
preliminary discussions with refer
ence to financing 100000 bales of
cotton in one district. 200. 900 bales
In another and 100000 bushels of
wheat in the Northwest He de-
clared that II was too soon to say
whether these transactions would be