The Washington herald., 1921-05-24
FINANCE AGENCY
J0INS MILLION
DOLLAR CLASS
$1,009, 900 international
Corporation Trade,
~ Says Report.
OTHER LOCAL NOTES
Dc. Securities Active; Coates
TO Address Convention.
Waller Resting Up.
OTHER LOCAL NOTES

The International Finance cor
poration is now in the sl.OOo'OoO
cIss> This fact was made known
to-yhe board of directors in report
submitted at a meeting yesterday
b>niW. L. Bachelor. treasurer OF tne
cSrporation. showing that ths COM
pany, which purchases open ac
counts from manufacturers and
wholesalers, has business on us
books at this time amounting TO W.
oos, 900, while the assets OF the COM
pany total s1.Oeo.OoO-
The report disclosed the growth
made by the corporation IN less
thaa-a year Of operation The COM
p.ny opened its doors for business
last June with less than 100000
On ,its books. On September 30, last
year the business of the company
had Increased to s325. 900; on March
3l-of this year business had more
than doubled, totaling s703.4sO:
last week the records showed that
the company had passed the $1,000
0aa mark.
In commenting on the growth OF
the company, Mr.. Bachelor referred
ts,sthe fact that this rather phe-
nomeral expansion was made dur
ing the period of business depres-
sion from which the country Is
gradually recovering.
AT yesterdays meeting Of the
board, ,Bynum E. Hinton. washing
ton attorney. was elected a MEM
bar Of the directorate The by
laws of the company calls for hr-
teen, directors, and Mr.. Hinton was
elected to NIL one of the remaining
two untitled places.
-. Local Securities
Trading on the Washington
stock exchange yesterday showed
a kair volume of business cover
ing a broad range, with prices dis
playing q firm undertone and reg
isseriag slight advances in a few
favored issues.
The bond list was again rela-
tfyely' quiet. with but two securi-
ties Commanding sufficient atten-
tion 10 effect sales Washington
Gas per cent bonds were traded
In to the extent of $4,000 face
value at IS, while a $1,000 5 per
cent bond Of the Capital Traction
company sold at s7lz.
Railway shares retained all Of
their recent strength, IS shares of
Washington Railway and Electric
common selling at 30, while 20
shares of preferred continued SELL
ing at 81, the new high figure
for the present upward movement.
Washington Gas stock showed
slightly better at AZ. 10 shares in
odd lots being disposed of. while
Capital Traction stock remained
irm at IS. Mergenthaler Linotype
showed no change over previous
close. IL shares in odd lots at 121 Il
being recorded.
Stock of the Washington Mechan-
icsT Savings bank broke into the
trading after a period of inactiv-
ity- beginning May 8, 1920, five
shares changing ownership during
session at 25.
Call money ruled on the local ex-
change at 81 bid and asked.
'boD. C. Banker,' Convention.
Francis Coates. jr.. clearing house
examiner of Cleveland. has accept
ed an invitation to address the COM
ing convention Of the District of
Columbia bankers, choosing for his
subject Auditing Department OF a
Modern Bank"
Mr.. Coates is a recognized author
ity on bank accounting. and his
address may result in some new
uniform accounting methods for
inasmuch as local
banks have been working towards
this end for some time past.
Reserve City BsnkerH
The Association of Reserve City
Bankers. a business organization
for the discussion of banking prob
lens and conditions, will meet in
Buffalo on June and 3, according
TO announcement made yesterday.
II. L. Ofrutt, cashier of the Dis
trict National bank, Is the only one
Of the four local members who will
attend. making the trip by auto
mobile.
&c Personal Mention.
W. J. Waller, president of the
local chapter. American Institute of
and cashier OF the Amer
lean National bank. who suffered
4 fractured arm. the result of an
accident on last Thurs
day night, has been removed to
his home, where he Is enduring much
suffering, it was learned at the
hank yesterday.
Mr.. walters arm Is fractured
nea the right shoulder, and IL will
se matter OF 10 days or two weeks
before he will be allowed 70 be
out and around.