Evening star., 1922-05-19
HOW BANK SHARES
HAVE BEEN.B|D UP
Dividends and Earnings
Largely Responsible.
Cheap Money.
BY l. A. FLEMING.

An evidence Of the recent strength
developed on the Washington Stock
Exchange in bank share fs seen in
| the advances in shares made within
the last sixty days. apparently with
out much effort
The stock of the Columbia National
bank was bid up from SITS to 1920
a share: Lincoln National from S175
70 $3.50; National Metropolitan from
$2i0 to 1925; Riggs National from
100 70 $3.50; National Savings and
Trust stock from $3.50 to- 1887; Union
Trust Company Is back to $121, a gain
| OF 20 share in a short period, and
rederai National Bank shares have
to S1S0 asked.
Other stocks in the bank share list
| aSxe also gone up, bids being made
daily that are something more than
the formal support Of their shares by
institutions.
The advances are based on dividend
certainties. perhaps a little on possi-
|, p piilnes for 1t is admitted that banks
it. uase made good earnings and are
IlKeiy to continue prosperous for
months, perhaps years.
!. II is also fact that shares of Ma
uonai banks, trust companies and of
! osner. banks organized under the law
! OF the District are not subject to the
n.
The Columbia National Bank Is a
! ~ per cent dividend payer: the Fed
eral National. 8 per cent; the Lin
coin, 8, with large deposits and pros
poets; the National Metropolitan, TO-
] and the Riggs 26 per cent. The last
SAFE or the Liberty National. paying
per cent, was at 121, now 127 bid.
| Ine last sale of United Savings
bahk stock was at $213, now 1920 is
! Don't He in n Hurry!
| hurry!
Columbia Graphophone shares have
, an actual value In the market,
owes $20.0oo,000 and it's frozen for
| hve years. mayhap longer
some 5000 shares OF the common
! soid Yesterday, the final price being
I'M The official bid price for the
preferred Pre- yesterday was 1sk bid and
| H1s asked. and the market is open
and available every business day for
| the transfer of shares for cash.
Recognising the position of the
Columbia Graphophone Company as
to dividend prospects. any one should
understand that 1t may be years and
It may be longer before a distribu-
tion is again possible.
But, even with this knowledge.
| they should hesitate to trade their
Crap Graphopnone on shares: 1aa even. or any
shares" without digging down under
i the skin Of the proposition.
There are dividend payers and
dividend payers" without an avail
! able market that are unstable.
| Your Graphophone shares, with an
actual cash value. should not be
traded for anything but cash at quo
tations before asking your banker.
J d.
| Georgetown Gas 5s were the active
feature of today's session Of the local
stock market. The price for several
Capital Traction SIS sold at 9S, and
Washington Gas 5s were held firmly.
| Gas stock was strong, at ssh.
| Capital Traction shares were mod
erately active. at s7h to s6H.
| Convention Notes.
| Reservations to date. with F. G.
| Addison, jr., chairman of the COM
mittee; number about eighty, with
more coming in every day. The. indi-
/, cations are for a record attendance
i The symposium committee will meet
with its chairman. E. ]. McQuade. in
| the boardroom of the Liberty National
! Bank tomorrow.
Low Money in New York.
New York bankers noticed with
| some little uneasiness the rapid ac-
cumulation of funds in the Federal
| Reserve banks; they also reported
| large receipts of currency from the
/. interior, where there seemed to be
[ little demand for It,.
Then they cut down their rates for
| thirty-day loans to 3A per cent, with
| sixty-day money 4 per cent. The
; combined statement of the reserve
| banks showed a decrease of $15,-
/ 10000 in bank loans, a decrease OF
/ 100000 in earning assets and an
increase to 77.6 per cent in percentage
| of res ,rves to deposit liability.
| The president of the First National
of ST. Louis Is one of the big men OF
| the country. He says yes.
! Can a national bank have branches:
J Every one interested is talking
! about 1t.