Evening star., 1922-08-10
LOCAL BONDS ARE
FIRM AND WANTED
Building and Financing
Enormous-Lanston DiW-
dend Declared.
ny I, A. FLEMING.

On the local exchange today Rail-
way common showed a little weak
ness but il was not attended with
any liquidation worthy of mention,
selling being of the ten-share order.
p However. quotation lots were offered
at SLY, and 81 was the best bid at the
close The transactions made were
at 57Ia to 57L with the last sale at
57as The preferred stock was en-
tirely nominal.
L,anston crossed the Rubicon, or,
rather il crossed 797s and sold spar
inGly at so. with 1875 bid and so asked
a the close
American Security and Trust Com
pany shares brought 2an
Action in the bond section was live
". liberal transactions being recorded.
The prices current were shaoe
frmcr.
Sales were made at a1,4 for Gas
- notes. 9St4 for Traction SIS, - for
Railway Is. 9.74 for Metropolitan "S:
with bid prices on all issues well
maintained.
Quite a number of ten-share lots of
District National Rank shares were
taken as fast as offered at 10.
4 Favored City.
Washington has been highly favor
ed hy noneyed interests for years and
perhaps to q greater extent during
the last year or two than ever before
Not only have our outside friends
placed much money in Washington
properties. but local cash in large
amount has flowed into like invest
ment.
Washington has enjoyed a stupen-
douS real estate boom for four years
more. increasing with each year.
until building operations have never
appeared to be important or
numerous as they are right now.
Moreover, on the schedule are a
number of ventures that VIII call tor
money in the millions and one sue
ceSStul operation. the Wardman Park
Hotel. entered the market for $1,000
600 this week and was handed 1t on
gold plate.
Hotels. apartment buildings. homes,
stores. great commercial structures
calling for hundreds Of thousands and
millions of dollars have been readily
financed, aud the city that more than
once Complai ined of the scarcity of
mortgage money has been very great
ly enlarged with Philade lphia. Chi
Caco, New York money and the cash
of its own people. who love and be-
lieve in Washington.
The most modern method of obtain
Ing these funds has been indulged in.
namely. the issuance of bonds. backed
by first trust mortgages. with addi-
tional funds raised through the sec
ond trust notes. placed with operators
who understand that line of business.
Much money in aid of these great
operations has come from local trust
companies on straight first mort
cages.
Prominent corporations in the bust
ness have placed their reputation
back of their offerings. and record of
years in business to substantiate
their claims.
In the interest of Washington, in
f,,t,, iS fn
earnestly hoped that this expansion.
this great growth has been fully
warranted by the needs of the city,
even to the full completion of prof.
ects that have been initiated.
Washington has no great failures
in her record and she wants none. She
is proud of the soidity of her trust
companies and of her corporations
and trusts that each and every VEN
ture under way. finished and contem-
plated. may give success to the full
warrant of the enterprise that called
1t into existence.
LanstOn Dividend Declared.
Directors OF the Lanston Monotype
Company met yesterday afternoon
and declared another regular quar-
terly dividend of 1h per cent. pay
able August 81 to shareholders of
record at the close of business Au-
gust Il.
At present prices Lanston is one
of the best dividend payers on the
local list, returning. at so. an income
of rs per cent net or I per cent and
paying the intangible tax.
Personal Mention.
Frederick j. Rice. president of the
Guaranty Savings Bank. has returned
home after attending the annual con-
ference of the Eastern States Dyers
and Cleaners Association. of which
he is a director. held in Philadelphia.
steel Tonnage.
The monthly tonnage report of the
United States Steel Corporation
showed untitled orders on the books
of the corporation to the amount Of
5766161 tons as Of July 81. This is
an increase of 1i0.GH0 over the total