Evening star., 1922-11-10
LOCAL LIST Slow.
NOGUESS RIGHT
Prices Show Fair Undertone.
More. Speculation-A. B. A.
Roster-BuSiness Better.
BY I. A. FLEMING.

Business was greatly restricted on
today's session of the local exchange.
Speculation still continues as to the
unknown investors who have acquired
the option on the hig block of COM
mon stock of the Washington Rail-
way and Electric Company.
Eugene E. Thompson returned from
New York last night confident that
the transaction will he closed before
the expiration of the option on the
18th instant. and insistent that all
and every guess that has been made
as to his clients has been wrong In
toto.
Railway preferred was strong today,
selling at 7Sh The price was bid
shares were nominal. at Ga bid. and
81 asked.
Washington Gas brought Sc to 55M
Gas 5s at 95A and Railway is at
13 Il completed the days business. the
bond section being as slow as stocks.
For Local interests.
Prior to buying the option on the
big block of railway stock. Mr..
Thompson had acquired several hun
dred shares of stock. largely COM
mon. In the same company. Asked
this morning whether this stock was
for the purchasers of the big block
he declared that every share of the
stock offered was for local interests.
American Bankers Associations.
Following officers of the y. B. \.
have been reappointed: Fred n.
She phcrd. executive manager: f.. a.
Irish, treasurer: Thomas r. Patton.
general counsel: secretary and assist
ant treasurer. William G.. FitZwilson.
VIII Not Call Bonds.
There are a large number of United
States Realty and improvement per
cent debcnture bonds held in WASH
ington. For some time rumorS have
been current that these bonds would
be retired with the January interest
payment date. through the sale of
an issue of preferred stock which
will be authorized for that purpose.
Now. however, the statement is
made that these bonds Will not be
called. but that the company will re-
tire all offered at par and accrued
interest at a stated date. and there
after until maturity. using the pro-
cceds of the sale of preferred stock
so as to yield the hest rate of interest
in case any bonds are not retired
until maturity.
These bonds a few years ago sold
down to 50. while the stock of the
company. now on 6 per cent basis.
sold to TO- as compared with about 80
at this time.
Increased Reserve Rates.
The total reserve to deposit liability
of the federal reserve regional banks
at the close Of the week. T6.4 per cent.
is an increase of 0.4 per cent over
the reserve of one week ago and 6 per
cent greater than the combined re-
serve of all the banks one year ago.
Rediscounting has been somewhat
larger, but the statement shows few
changes except in the "uncollected
items" which are off $50. .O00, 900.
Bills bought in the open market and
bills discounted have increased about
s50,O0O.00O.
Bank C1enrinEs.
The larger cities continue to reflect
the improvement in business. yesterday S
clearings showing gains of SI2300.O0O
in New York s5S.7O0, 900 in Chicago, ST.
600. 900 in Boston, and SS.000,000 in
Philadelphia.
Business in Washington Is improving
steadily. much holiday shopping being
under way.
Merchants are preparing to gather in
their share of the s2,000.0OO, practically.
of Christmas savings, which will be re-
leased by the banks operating clubs
early in December.
The Bank of Commerce and Savings
will install 4 savings club, under plans
worked out by John NJ. Riordan. its
cashier. with December II. 1t is under
stood one or two other banks will help
along the savings movement.