Evening star., 1922-01-01
LocnI securitie. viii BENEFIT.

Cnquestionably local securities will
be favorably affected by the large
distribution of new money seeking
employment at fair rates of interest.
tion Of public utilities in the last
year is nowhere more evidenced
than right in Washington. where they
have demonstrated ability to pay
charges and dividends after lean
years of high cost and expensive op-
Grating from every viewpoint
Elsewhere the changes are just
az mark ed-the public utilities are
out of the woods.
Washington shareholders who have
carried their, stocks down are to be
While local bonds have advanced
sharply recently. they are still sell
ing below New York values for like
interest, bearing securities.
The strength in Capital Traction
remarkable. Indicating stability and
a belief that the company will be
perfectly able to maintain the per
! cent dividend rate.
Action in Railway preferred Is sug-
gestive of the same permanence to
the dividend, although the feeling is
not as we'll founded as for the COM
petitive shares. The winning of the
suit with the District in connection
with the charge for lighting and cur
rent would at once place the affairs
of the Washington Railway and Elec-
tric Company ana its underlying COM
panies in frst-class shape. The COM
mon stock was high yesterday at 80.
gain for the year of 11A points share.
Annual Elections.
With January 10 will como the an
nual elections of all national banks,
some trust companies and many saw
ings institutions.
changes are scheduled, but announce
ment awaits the pleasure of the OFF,
cials Of institutions where the
changes will occur.
During the year shareholders in
many banks have received enlarged
distribution in dividends and many
have added to their surplus accounts:
The most important news In the
banking line of the year was the re-
tirement Of Mr.. Glover from the
presidency of the Riggs National
Bank and the election of N. e. Allies,
president, and r. Y. Fleming, a vice
president and cashier.
Many new banks have started:
Some few may be needed and Will
succeed, some may fall by the way
side, for the banking business is
strenuous one.
The campaign Of the Riggs Ma
tional. through interests identified
with it, for branch banks marks an
epoch and will probably be more or
less expanded for 1922.
It is possible that the various
financial organizations may be in
their new home for a prolonged stay
before this time next year, possibly
in the term of John 3. Larner, presi-
dent Of the District Bankers Asso-
citation.
Ianston Selling.
Lanston shares were heavily sold
on Saturday. but the market took the
list well and is apparently ready to
II is understood that the company
has purchased and will manufacture
an adding machine in the immediate
future.
Chairman Of the Board.
This title carries with it something
in the way of confidence. Of honor, of
distinction and of long and faithful
service.
It has become the habit to give
this title to men who have grown
gray in service. to bank presidents
long in harness and to individuals
who strongly dominate the institu-
zion which they head.
Citing local cases, John Joy Edison
became chairman Of the board OF
directors of the Washington Loan
and Trust Company, Charles c. Glover
| holds the same position with the
Riggs National Bank and former SEN
ator Scott is the chairman Of the
BOARD of the Continental Trust Com
In way, they are presidents
] emeritus. and, as such, the position