Evening star., 1921-11-08
LIGHT RATE ruling
HELPS UTILITIES
HibHigher Prices Scored on
Bonds and Stocks-$2,O00,-
600 Is Impounded.
By. l.. A. FLEMING,

Business on, the local stock ex-
change was very. active today. trans
actions in bonds totaling s4S,O0O, and
this without any very large individual
purchases OF sales.
" The favorable decision OF the Dis
trict Court of Appeals in the Potomac
Electric Power Company valuation
case was a potent influence.
The case will 60 to the Supreme
Court for final adjudication, but the
securities OF this company and of the
shares and; bonds of the Washington
Railway and Electric Company.
i Railway Is were especially active,
moving up to 81 and then to 61A.
Potomac refundihg and improve
fraction. Caottal Traction 5s also
shared in the better feeling. making
a me-! high OF this movement at s05s.
Capital Traction. shares sold at
8Si:. this being u point Improvement.
The business of the day was entirely
in the securities Of the public utilities
company.
The New York. Stock Exchange and
other New York exchanges were
closed today. election day in New
York city. =, -, -, :,
The local market was therefore in
dependent in Its action.
Two Million Impounded.
The. impounded fund accumulated
by the Potomac Electric Power Com
pany. under orders of the court, in
the matter. Of the legality Of the val.
uatfon made by the Public Utilities
Commission, now amounts to over
s2.oOo.0oo.' The Supreme Court must
pass on the question before the title
to this. large fund is definitely settled
Under. court orders the millions held
In escrow II returned to the thou
sand and one consumers, on an ad-
verse ruling ..of 1.-The highest court,
must bear {, per cent interest. The
Potomac Electric Power Company has
invested the cash in Liberty bonds
and Treasury certificates.
The, victory Of the company in the
appellate court has greatly encour-
aged the officials and directors of the
company in their belief that their
position. in the matter will be sus-
tanned and this large. ripe melon will
be available for whatever purpose the
directors may elect
Some of the latter, especially inter-
ested in the common stock, are known
to favor the declaration Of a dividend
to the holders of these shares
The application of, the. Washington
Loan and .Trast Company for full
ing House Association has been re-
ferred to .M6ssrs. Starkey, Poole
Haines, Corson and Mckee, who will
meet Thursday to consider and roc
ommend ito. .the association what
action shall be taken.
All clearing house membera banks
are also members of the federal
resetve system, and it may be that
membership may, be insisted on for
the, Washing ton Loan and Trust Com
pany as q condition for full Dartici-
patton Is a member in the privileges Of
the Clearing House, Association.
A non-member bank cannot borrow
or clear direct through the federal
reserve bank, but only through a
member bankI a member bank must
carry a heavy reserve with the Rich
mond reserve Institution. upon which
1t receives. no return, while the same
RESERVED, carrted with national bank
or trust COMPANY. receives interest
the application Of the Washington
Loan and. Trust Company, one of the
substantial = old. time, high-grade
financial institutions. Of Washington.
A sdceessful Plan.
r. q. Boiling. president of the Com
mercial National Bank, is senthusias-
tic in speaking Of the new insurance
plan adopted by the bank in connec-
ton Win ltS NASlukS. ulFISlOHs AuO"u
as the insured savings plan.'
Cnderi this plan the savings depos-
itor makes regular periodical depos-
its of "a stated sum, no limit being
stated, continuing for ten years, when
the bank repays the deposits, plus In
terest,- paying the premiums on the
life insurance policy as they mature
from the deposits.sS In the event of
death OF a. depositor. even after but
one payment, the full amount the de-
posttor had started to save will be
paid, plus the full amount of savings
to the credit Of the depositor.
Accident protection to the extent OF
800 per year On each $1,000 unit is
provided, by which the continuity Of
the deposits will be maintained. Age
alninahons afs not dispepsed with.
The insurance company does the