Evening star., 1921-12-17
ACTIVE TRADING
|NL0CAL BONDS
Prices Show Sustained
Strength-Another Dividend
Increase.
By I. A. FLEMING.

BY l. A. FLEMING.
There was decided revival of busi-
ness on today's session of the local
exchange. the session being interest
ing and prices we'll maintained at re-
cent highs.
Georgetown Gas 5s advanced to a
new high at Sis. from an opening at
*1is. Railway As were active at 65.
Potomac first 5s steady at 80. Cen
eral IS, 9S1a to 9sL. The General Re-
funding Is were active at 1O4 to 104A
Riggs Realty 5s long term ma
turity sold at 90N to 80.
In the stock list sale of Riggs Ma
tional Bank shares at 400 was a
feature.
Capital Traction was firm at 81. re-
covering its dividend in short order
Railway preferred, 63s4. and Wash
lngton. Gas. 49A.
Another Dividend Increase.
The past year has been one of large
profits and good business for the
banks despite the fact that there was
much money diverted from business
Gates and notes and in bonds general
Jy. The and "a per cent certificates
offered opportunity for banks to en-
ploy their idle funds to good advan-
tage.
a number of banks. paying divi-
dends January l, have increased their
dividends. This morning comes the
announcement from the Seventh
Street Savings of an increase in the
semi-annual dividend from 3 to 4 per
cent, placing the stock on an s per
cent basis.
Cashier Howard, commenting on
conditions. said: Business and earn
ings of the bank have been very
satisfactory during the year, war
ranting the increase of 1 per cent in
the distribution on our shares"
Forms for "Cali, Received.
Local banks this morning received
the usual forms for the next call
for statement of condition. Bankers
have expected the call to come on the
:1st, that the usual annual compare
tive figures may be compiled. 1t is
just possible that it may come on the
18th instant.
The call will show a general mix
1ure of gains and losses in deposits
with the chances that the losses will
much more than Offset the gains.
In addition to some heavy with
drawals of funds by a foreign gov
ernment and the American Red Cross,
savings deposits were drawn down
heavily by the payment of $1.250.000
Christmas clubs cash. Then, too. the
great increase in investments made
have cut down deposist
Justification for the belief that De-
cember % may be the date is found
in a special schedule sent out with
the forms, calling for report on de-
posit balances to the credit of Off
GERS Of the United States govern
ment. exclusive of savings and bank
ruptcy funds-reports Of deposits to
the credit Of the treasurer Of the
United States. general account; War
Loan Department account. Post
master, official checking accounts:
U. S. courts and their officers and
all government officers, civil and
military. This information Is asked
as at close of business December 2S.
Rate-CuttinE Talk Harmful.
Rate-cutting rumors are blamed by
the Iron Age, Bradstreets and a num-
ber of authorities for slowing up in
business. Naturally, if there is a
chance for a reduction in rates buyers
will hold of. awaiting the expected
cut.
The Iron Age charges that "the
general expectation that an early cut
will be made in freight rates on iron
and steel is now the controlling in
fiuence in the trade. Its chief effect
T. c. Powell vice president of the
Erie road, declared that "rumors Of
impending cuts in freight rates. al
though not justified, have an immedi-
ate and paralyzing effect on business
transactions.
"The traffic officials" continued Mr..
Powell, in his testimony at hear
ing before the Interstate Commerce
Commission involving reduction of
rates. "can find no justification for
the thought that railroad rates as
they stand today are adversely AFFECT
ing business or that reduction In
rates would revive or stimulate busl-
ness
"The carriers believe that. in the
aggregate. rates will be found rea-
sonable, and II this be true the COM
mission should announce the conclu-
sion with the expectancy that the
agitation throughout the country will
cease"
W. G. Maxwell, vice president Of
the Wabash system, declared that
rates in the eastern group do not
yield a reasonable return, based on
dered. Since the end of October
enormous reductions in rates hav"
been made. He further declared that
the action of s,at:. "oIntn.s.-.o.ls .-.
reducing rates had involved heavy
losses on railroads.
Germany Recovering Toy Trade.
Germany is fast recovering her
American toy trade, with the chances
that the value OF total imports OF
German toys into this country for
the year will not be far from the
1914 value--$9.0s4.000. For the ten
months ended with October the value
Of the German toys imported was
ssss0.000. with the chances that the
quantities of toys was larger than
the 1914 amount-owing to the diff
ference in exchange.
Another New Bank.
The latest institution to enter the
banking field in the District of Co
lumbia is the. Woodridge-Langdo
Savings anr Commercial Bank. located
at 1920 Rhode Island avenue north
east. The officials are very much elat-
cd at the interest manifested by the
business men and the citizens gen.
orally of the Woodbridge and Lang
don sections when the bank opened
it's doors o Saturday morning.
The president, p. p. Clark. said that
while the bank would engage in gen.
eral banking business. the savings de-
partment would be an important fea-
1ure. Christmas savings system was
installed, and became popular with
the younger element at once.
There is an estimated population
in this community of 5000 inhabitants,
whose activity in every enterprise for
neighborhood Improvement imbues
them with the belief that they possess
the pep and pride to make the bank
an assured success from it's begin
ming. especially when they know that
the bank WAS organized by the citi-
zens of the community. and will be
conducted by citizens of the COM
rnunity in the interest of citizens of
bn cayoup,rnitye