Evening star., 1921-05-19
TRADING SLOW IN
LOCAL SECURITIES
Passing and Cutting Of Divi-
dends by Big Corporations.
News Notes. :.
BY 1. A. FLEMING.

BUSINESS on the local stock market
continues extremely slow. AS usual.
the steady downward trend on Wall
street and the cutting and passing of
dividends slows up local investment
buying, while the reverse on the big
market is without the slightest strength
ening effect.
The cal! money market likewise is
inactive. after one loan. as would-be
borrowers want little the best of
the rate not being satisfied to pay
per cent while willingly onering
61s. =,
Today's transactions were Few and
far between. While talk of a street
railway merger helps Railway pre-
tired it na no. added to the strength
of Capital Traction. Two small sales
of the latter were made at S1A to
S75s. ,r
Capital Traction as brought s7h.
Personal Mention.' =.
Frank P Harmon. IT., cashier of
the Merchants Bank., is recovering
from a minor surgical operation.
Francis NJ. savage of the North.
western Savings Bank has returned
from Hot Spring. Va.
Crisshger for Square Deal. = 4
Controller Crissinger. in an address
before the National Electrical Credit
Association, urged the square deal
in trade, and the consideration of
character as an asset in credit negoti-
ationS-
He assured his hearers that the
business, the industry and the finances
of the country are at bottom sound
and secure" He referred to the iac1
that the world looks to the United
States for support and aid perfectly
assured of our ability to provide for
them.
To Help Odd-Lot Trading.
A movement has been inaugurated
on the New York Stock Exchange for
the purpose of facilitating odd-lot
trading, which has come to be a big
feature. in the exchanges business.
and because Of the fact that the
unit of trading is 100 shares, is
turned over to the odd-lot brokers'
who accumulate sufficient orders to
make a unit before transaction can
duce the unit of trading to ten shares
and reduce the rate of commission
charged. This would permit all men,
bers to trade in odd lots and not con-
fine the business to four houses.
Dividends Reduced and Passed.
New York Air Brake. one of the old
reliable 10 per cent dividend payers.
cut its dividend yesterday to per
cent annually.
Republic Iron and Steel, and Cam
bria Steel Co, passed dividends en-
tirely.
Pacific Mail Steamship Company sus-
pended dividend payments entirely,
and the. Cuban American Sugar Com
pany cut its distribution in two.
Conservative business policy sug-
gests conservation of resources at this
time. =
Special Convention Train.
The Pennsylvania company has an
nounced special train to the Ameri-
can bankers convention in Los An
geles in October, which will leave New
York September % and return Octo-
ber IS, with numerous side trips by
auto and train to all points of inter-
est on the Pacific coast between San
Diego and San Francisco and through
out Colorado. returning via Chicago.
The cost, inclusive of all expenses,
fare. food. sleeper, etc, save dur
ing the convention proper. has been
placed at s459 from Baltimore and
probably the same from here.
Treasury Certificates.
Allotments of Treasury certificates
offered March 16. maturing February
Is, 51z per cent interest, $256,110,0o0.