Evening star., 1921-05-07
ACTIVE TRAD|NG|N
. LOCAL SECURITIES
Farmers and Mechanics Ma
tional $24O a Share-Gas
Firmer-Other Matters.
BY I, A. FLEMING.

Today's session of the local stock
exchange was decidedly interesting and
was characterized by more than the
usual amount of trading, and also by
some betterment and some recessions
in prices.
The first sale Of the year in Farmers
and Mechanics National BANK Snares ,
was reported. at $240 share. Wash-
fngton Loan ard Trust Company stock
sold off from recent levels. with sales
at $3.50 a share.
Railway As were in good demand and
made a new high at 81. WASHINGTON
Gas SIS were easier at IS Y to ~, while
Potomac General 6s were steady at "a
Capital Traction IS unchanged at 81 :.
In the stock list Mergenthaler sold
rather freely. at 120. and the final tram
saction was at 1873. Lanston quiet
at IT. Washington Gas was tirmer,
selling to 41A. Capital Traction. ~.
Calls for s:ss,OOO.OOO.
Secretary Mellon this morning call
ed upon the national banks to pay
in to their respective regional banks
by Tuesday of next week. about $26.-
1000 from the balance of the funds
held in banks to the credit OF the
Treasury arising from the sale of
Treasury certificates of date, March
Is.
The entire amount of the issue OF
April Is certificates is still held by
the banks. sl9o.715,50o.
Personal Mention.
Col. Wade H. Cooper is in New York
over the week end looking after busl-
ness interests there.
f. J. McQuade. cashier of the Lin
erty National Bank. is in Asheville, N. G.,
where he will deliver an address this
.eyenins before the local chapter of
the American Institute of Banking.
Names Entertainment Committee.
w. w. Spaid. chairman of the en-
tertainment committee of the DISTRICT
Bankers Association, charged with
providing entertainment for the
guests at the June convention OF the
organization, has named the full per-
sonnel of his committee. as folloWS:
W. ]. Waller, Ernest f. Herrell. Ezra
Gould. Ferdinand Petit. J. H. Baden
and c. F. Jacobson. The selections
assure ample entertainment during
the off hours at White Sulpher.
Indorse f. c. Graham.
The Washington Clearing House AS
sociation has given it's Endorsement
to E. c. Graham, as class b director
of the Federal Reserve Bank OF Rich
mond, representing bankers in group
three This will probably mean the
election of Mr.. Graham without con-
test
Richmond Bank Ruling.
The Federal Reserve Bank of Rich
mond has made the following ruling
in the matter of checks drawn upon
non-member par banks in the fifth
district
All such checks sent to US FOR col
lection and returns" will be forward
ed by US to the banks upon which
they are drawn as collection items,
but with distinct instructions that
remittance is to be made at par or
ifaFna returned n uS unnaid
In any case in which the bank on
which the items are drawn disre-
CARDS the instructions to remit with
out the deduction of exchange, and
actually RENTS for a sum less than
the face amount of the check (or
checkS). we will credit the amount
actually collected to our correspond
ent. and will endeavor to obtain re-
payment Of the exhange improperly
deducted; but we will not be respon-
sible for its collection.
In any case in which a bank or
trust company returns to us unpaid
a cheek sent for collection" because
Of it's unwillingness to remit at par.
such checks as collections on which
it is entitled to make an exchange
charge; or in any case in which
bank or trust company RENTS less
exchange" for the reason given, and
refuses upon request to pay the
decline to handle "for collection and
returns any and all such checks
drawn upon that bank or trust COM
pany and will return them to the
Forwarding bank. stating the reasons
therefor.
1t is therefore requested that no
checks be sent US for collection and
returns except in special cases. and
unless the amount involved is suffi-
0fently large to warrant the request
for a snecific advice Of payment