Evening star., 1922-11-21
RESENT MOVE BY
LANSTON COMPANY
Brokers Object to Transfer OF
, REGISTRAR From Here to
Philadelphia.
by 1. A. FLEMING.

Members of the W aSnlnStOn StOCh
Exchange are dissatisfied with the
transfer of the office of registrar OF
Lanston MoEotype stock from the
American Security and Trust Com
pany to Philadelphia.
When the stock of the company
was listed in Philadelphia something
like two wears ago, Washington
brokers watched closely to observe
the activity in trading, but found that
about the only business transacted
was on a few orders, sent from here
as test of the market.
I.anston shares have their best and
practically only market in this city.
Thousands of shares are held here
and practically the only business
transacted in the stock is on the local
exchange. Therefore the objection to
change of transfer Office.
Moreover: Lanston shareholders are
becoming more than anxious for
something more than the regular 8
per cent dividend. believing that with
the large earnings reported there
should be an extra distribution.
Mergenthaler shareholders have the
earnings and large surplus held by
each of the type-setters would seem
to warrant surl; a distribution
The only adverse argument one
hears is thar the companies are us
ing their surplus funds in financing
their business while Mergenthaler
is putting its funds into pushing its
export business.
The Clearing House Association has
ordered that, pending AN amendment
to the negotiable instrument act,
checks will he certified only on re-
nj
the certifying bank from liability in
cases of substitution of payees
names.
Washington Gas Earnings.
October earnings of the Washing
ton Gas Light Company, $2S.655.4s. as
compared with SS2,loI for the same
month II year ago. Georgetown Gas
earned S2.149 for october, an increase
of nearly $500, as compared with the
same month last year.
Chapter Activities.
W. a. Taylor of the Riggs National
Bank speaks to the elementary class
at the chapter rooms tonight, on
'Duties of Paying Teller"
Wednesday night Prof, +. j. Dona-
hue of the Catholic University will
address the second-year class, on
"Origin and Development of Bank
ing Class election will follow.
Thursday night r. B. Dickey will
speak oIt SprpOFdlloHS.
Local Securities.
Market remains nearly neglected.
The sales record of the day is really
not worthy of comment. Two lone
shares of Railway common sold at
63, stock was offered at 81, pre-
ferred at IS and Traction at l03 Il.
This waiting market ought to end
within the next few days.
Branch Banking.
There has been no question but
what the latest movement in branch
banking is something of a novelty
in that neighborhood location was
not selected. but that "a branch was
started in the heart of the banking
center of the town, with five ma
tlOnal banks. three savings bank S
and five trust companies within a
radius of less Than one-quarter OF a mile.
a mile.
This leads to the query whether
other 9Th street or downtown banks
will seek share of the uptown busi-
ness and the uptown banks look
toward 1th street for part of that
business.
The first invasion of the uptown
district, even for protection of busi-
ness, may lead to the formation of
other branch offices now that the way
las been paced
Anti-Branch Bankers.
Kansas City. Mo, is the place and
December and 9 the dates for the
organization of an American anti
branch bankers association and to
discuss ways and means of securing
prohibitory laws from Congress and
the various state legislatures.
The meeting will be held at the Ho-
tel Muelebach.
An invitation has been extended to
Francis NJ. Savage of this city a
strong opponent of branch banking,
to attend
Requests have also been made for
copies of Mr.. Savage's article on "Un-
fairness in Branch Banking"