Evening star., 1922-04-07
new BANK|NGLA
ISEXPECTED SOON
Hope House to Give Ap'
provaI to Measure for Dis
trict Monday.
BY 1. A. FLEMING.


has the support of the District Bank
crs' Association. and of the Stock Ex-
change aud financial interests gen.
orally. is more than likely to be called
up in the House on Monday next. with
promise of favorable action il brought
up.
The measure would give the con-
froller of the currency the right
10 give or withhold approval to OIL
from proposed new banking Ventures
and put them more completely under
direct supervision.
Financial interests do not believe
that any organiza ton, properly or
GaniZed. with sufficient backing tc
make ii successful, should be refused
permission to organize. PROVIDED the
field in the proposed new location Is
not amply provided with banking
facilities and accommodations.
As the laws stands today, charters
from Arizona or some other state may
be obtained and banks come into the
field without limit. and the controller
is without control unless some irregu-
larity develops.
The Senate has passed the proposed
legislation and the friends Of the
measure believe that it has excellent
future.
Stock TransnctiOns.
While the New York investment
market is enormously active and
prices are on an advancing scale, loca
securities seem to be resting with a
very restricted aggregate OF trans
actions and just a fair tone in the
matter of strength.
Union Trust Company shares sole
at 120- Lanston sparingly at "a anG
Railway preferred at 6S.
Washington Gas Z IaS sold at 105 tt
1O5is; Railway is brought 6Sss
these two issues being the only bonds
traded in today.
The BriShtwOod Savings.
The Brightwood Savings Bank. il
process or organization; will oh hay, aS,
and surplus of $4,000.
The promoters are given as B. G
Benedict, s. F. Anderson. W. F.
King. c. w. Ray. c. H. Nealy. J. c
W. Aukney. A w. Felka. and Charlie
W. Darr.
Milburn. Heister & Co. are prepar
ing plans for a home for the nev
bank on Georgia avenue. Bright
wood.
Stock is being distributed as broad
ly as possible in order to make 1T 1
neighborhood bank with a large lis
of shareh olders.
Declares Regular Dividends.
Directors of the Washington LoaI
and Trust Company have declared th'
usual quarterly dividend of 2k pei
cent, payable May l, to shareholder
of record April %. when the book
will close and remain closed unit
May 1.
On the Grand Jury.
Eugene f. Thompson. Julius Gar
fnkIe, William J. Flather, jr.; Ernes
f. HerrelI and D. S. Potter are al
serving on the present grand jury.
Perhaps Mr.. Thompson's absence
may have some effect on the loca
stock trading.
Loans Unchanged.
There was very little change in thu
status of the reserves of the combined
week. the reduction being only from
IT'S per cent to 77.7 per cent, as com
pared with 5s.0 year ago.
Personal Mention.
William W. Spaid is in New Yorf
city to attend a meeting of the New
York Stock Exchange today.
w. Il. Galliher is a Elizabeth n. j..
and Will be away about week before
returning, visiting Memphis in the in
terim.
Southern Railway Earnings.
March revenues of Southern Rail
way Company maintained the stead!
advance indicated in the first tw,
months of 1922. Freight trafic il
particular reflects the gradual i'm
provement in the south in diversifi
cation of goods hauled. From Jan
uary 1 to March 81, 1922. passenge
revenue decreased S1,160,000, or 16.
per cent from that of the same perioi
of 1921, while decrease in freigh
revenue was s792, ,S60, or As per cen
from the corresponding period o
1921. Despite these decreases, Janu
ary net increased s1,S62,252 owe
January, 1921. and February net in
creased $1.573.334 over corresponding
month of 1921, total increase for thu
two months being s2,935,5S5. In botl
January and February, 1921, South
ern showed operating deficit of ovel
s500.000.
Following table compares net ant
gross of Southern railway with the
previous year: