Evening star., 1922-10-02
LOCAL SECURITIES
WERE RATHER SLOW
Bid Price of American Ma
tionaI Higher-Prices Gen.
orally Held Firmly.
BY !. A. FLEMING.

Securities on the local market were
little firmer, but there e-was none of
the sharp advance that attended the
trade on Wall street, just as this mar
ket has sustained nothing like the
declines in the speculative trading.
Much interest was manifested In the
making Of quotations on the shares
OF the recently merged banks. Amer
lean National, the first called, respond
ed with an advance OF S points to $165
changed. the previous bid of $Is5 a
share being repeated.
Rig9s National was quoted at $491
bid per share. ex-dividend, as the
bank pays $13 a share dividend dur
Ing the current month. making the
bid equal to 1904 dividend on.
Business was light in the local list,
Railway common selling at 5sk and
the preferred at 77k, but not actively.
Capital Traction stock, 1924 to
102h for odd lots: the per cent
bonds Of the same company sold at 90.
Gas 5s brought 9Sz and the IN per
cent notes moved up to los.
New Uptown Bank.
The Riggs National Bank. 18th
street, just south of Columbia road.
opened its doors for business this
morning. w. A. Dexter was in charge.
The rew institution opens for busi-
ness N a good neighborhood, fully
prepared to do business, the building
having been fitted with a vault and
up-to-date banking fixtures.
Some of the Junior officers were
present from time to time during the
early hours. and later on Charles c.
Glover. chairman Of the Riggs board
and r. v. Fleming, vice president and
cashier. called to pay their respects
to the manager and to look over the
promising property.
A prominent advertising feature of
the new institution is a clock that in
dicates the time, much like q ther-
mometer indicates the temperature,
with one index hand that moves up in
dicular at the hours named. pointing
up at IL and down at 6. with the min
ute spaces indicated between the
hours-the hand moving up from
to 12 and down from - to s.
Much advertising matter also ap-
pears on either side of the clock.
Formulation for Branch.
D. r. Crissinger. controller of the
currency. has granted permission to the
open a branch in Brookland at 18th and
Euclid streets northeast.
The opening has been set for October
IA to 49, The parent bank acquired this
property about q month ago.
Qualifications Of Director.
The limit Of holdings for a director
of the Federal-American National Bank
has been set at twenty five shares as a
minimum and 500 shares as the maxi
at once create vacancy.
Hurley Motor Company.
The Hurley Motor Co. 1924 14th
90
sue of 100000 participating per
cent preferred stock.
The Hurley Motor Co. holds fran
chises for both the Nash cars and
Selden trucks under continuous con-
tracts. The new stock is preferred
mer being cumulative from the date
of purchase. The business of the
company has increased 100 per cent
SO far this year.
Buying Rails.
The New York Central has placed
orders for 1890 tons Of steel rails
for 1928 delivery and the Pennsyl-
vania has followed with an order for
10000 tons.
Both orders are distributed among
the larger mills.
Fifth District Review.
The Federal Reserve Bank of Rich
mond, under date Of September 30,
reviews business conditions in the
fifth regional district as reasonably
satisfactory.
Labor is normally employed and
many industries are constantly add
ing to their forces. I'VE are con-
vinced." said Caldwell Hardy. chair
man and reserve agent. that many
of the serious obstacles that con-
fronted US six months ago have been
removed. The banks of the district
, are better prepared to care for the
needs of the district than they have
been for several years.
"Retai1 trade is opening up very
nicely. Taxes are burdensome, the
effects of the new tariff problematie
| and European political and financial
conditions hopelessly tangled. but
| the strikes are settled and crop pros
| poets are good" August retail sales
| were 5 per cent better than in July
with stocks increased 10 per cent
| Collections are fair In most lines
slow in groceries and dry goods.