The Washington herald., 1921-12-10
HEAVY SELLING in
CERTAIN ISSUES ON
LOCAL EXCHANGE
Lanston and Columbia
GraphOphOne, Preferred,
Enjoy Large Trade.
BANK OPENS TODAY
Banking, Trust and Mortgage
Company Opens at 9 A. M.
Reception Later.
BANK OPENS TODAY

Trading in stock of the Columbia
Graphophone Company and of the
Lanston Monotype Corporation was
extremely conspicuous on the Wash
inston Stock Exchange yesterday,
coming after several featureless
weeks. The preferred stock OF the
former sold to an aggregate OF 500
an initial sale of 20 shares at
I2b, dropped to 7lS, recovered
TO ~, dropped successfully to II u
and II y. recovered to 71S and
then dropped back to Il, at when
price the security closed. 4 total
II 339 shares of this issue was dis
posed of in the after call trade.
Washington Gas IA per cent
notes held firm at 1G4. total or
$1,000. face value. being traded in
on the initial transaction. Capital
Traction bonds likewise held firm
at 93A, $4,000 changing hands,
while the stock of this company
sold to the extent Of five shares at
80 At the close of trade 80 was
bid for the issue. with none offered
A $1,000 Potomac Electric first 5
sold at biz; a $1,000 Potomac Elec-
trio Cons, at 90. and a $1,000 Po-
tomac Electric G. NJ. and Ref. at
lO4E, in the order named. while
ten shares of Capital Traction fol-
lowed at 92B. and ten others at SO.
7 Two shares of Washington Gas sold
at Ash
After call five shares Of Capital
Traction sold at 90.
Call loans were offered at per
cent with 5 per cent bid.
Personal.
Charles A. Douglas, general coun-
sci for the Continental Trust Com
pany, is spending the week in New
York on business.
New Bank to Open.
The Banking Trust and Mortgage
Company will throw open its doors
this morning at 9 a m, remaining
open for the initial days work un-
til 1880 D. m. From $3.50 D. IN. I'M
til closing time a reception will be
held in the institution at 1909 H
street northwest.
Special arrangements have been
COnsummated for the first days
business. Besides a number Of sur
prises planned. II is understood all
officials and a soodly portion Of
the directorate will be on hand to
extend a personal welcome.
Improved Reserve system.
A substantial reduction in deposit
liabilities and a small increase in
cash reserves have offset a mod
crate increase in note circulation
and brought the reserve ratio or
the combined reserve system up to
another new high Of 1911 per cent
This is the eighth successive gain
in ratio, and the present figure
compares with AS per cent a year
$50. Under the circumstances the
consistent trend toward lower
money rates is easily enough I'M
derstood
The feature of the statement is,
hOweveF. another remarkable i'm
prOvement in the position Of the
Western and Southern regional
banks The New York banks ratio
fell off approximately 2 per cent,
and the circumstances suggest that
the weeks furry in call money at
this center was caused by a move
ment Of funds to the other districts
1nterbank borrowing is now prac-
tically wiped out, the total being
only s6,OOO,0OO as compared with
S71. 00O, 900 on September Il. Disre-
Eardlng borrowing reserve. the
ratio of the Dallas Bank is now 40
per cent as against . per cent on
August 81. The greatly improved
condition of the system is obvious.