Evening star., 1922-07-20
LOCAL SECURITIES
j. SLOW BUT STEADY
Prices Hold WeIt-Grapho-
phone AnaIyses-CIearings
Increase.
NY 7. A. FLEMING.

business in local securities was
little less active this morning. put
there were no special changes IN
prices. nor news of sufficient I'M
portance to cause any activity.
Stocks, perhaps. attracted a little
more attention than bonds. safes
were. made at 1905 for Capital Tfae-
ton shares. 57A to s6m for WASH
.ineton Gas. 10 for Railway preferred
and - for Lanston.
Railway common. entirely nominai
with 55 bid and 81 asked. whle ~
was bid and 1914 asked TOT 'he
Gas IS Arm at e41.. Railway fs
brought rs. these being the only
transactions in bonds
Admitted to Associate Membership.
The International Exchange Bank. OF
which Joseph Schiavone Is presfaent'
was yesterday elected to associate
membership in the washington clear
ing House Association.
The examination of the banks affairs
was rigid and thorough and the Verdlct
in every way satisfactory to the eH
amining committee, to the bank ltseii
and to it's genial president.
1t was even said that Mr.. SchlaVone'
IT'S president, was possessed of some
methods of accounting that were nlsn..
ly complimented by the chairman OF
the committee making a study OF lts
affairs for the clearing house, har.y VI y;
HAYNES president of the Farmers ana
Mechanics National Bank OF GEORGE
town.
The international Exchange clears
through the District National bank;
and has the friendship and counsei
Of r. n. Harper and his associates III
the District, National.
Federal Reserve Publicity.
Under the caption. Better Bank
ing Under the Federal Reserve STs.
,rm." a brochure has just been issued
by the Metropolitan National bank'
explaining. in the simplest lang suase;
that the lay reader may understand
the principles of the federal reserve
banking system and just how 1t serves
the public through the member banks
1t is understood that the i.ioertF
National is also giving circulation 10
. like publication.
Local PhonOgraph Company.
The Chautauqua Photograph Com
many, 723 18th street. is reported as
having elected the following directors
for the ensuing year: J. H. BuscheI.
p Marion Walker. Father Francrs
Yineline. Margaret q. Calvin and r.
w. Steck. w
J. II. Buscher is president. F. W.
Steck general manager Sasarsr and "a''''
The reports submitted at the mee'-
i,r referred to the growth OF the
comnany both at it's office here ana
IT'S factory in jamestown. \. I.
Columbia Grnphophone.
FL I.isman & CO.. members of the
New York Stock Exchange. nave
made an exhaustive study and analy-
ses Of the affairs of the Columbia
Graphophone Company. which tney
. have mailed to some. il not all. the
shareholders in that corporation.
small crumbs of comfort for the e
sugge stion by the firm that they dis-
pose of their holdings in Grapho-
phone and invest in Cities OF Vaipa-
raiso (Vina Der Mari. Chile. guaran-
teed 8 per cent highway bonds. Win
the assurance that the government
Of Chile has promptly paid it's obli-
rations in the past for 100 years. ana
to the best of our knowledge the
same applies to its municipalities.
The analyses seem to pc more. more or or
the end of the story, to the stock
holder.
Bank EARNINGS Increasing.
New York bank clearinss IN
creased sls1 s1.soo.Ooo yesterday. Chi
cago clearings gained s1l,5oe.eee'
Philadelphia. s10.0O0.o00; Boston. So
-71e. 900. and Kansas City. s1.27s.7S6.
and this during a period when the
labor situa tion is admittedly dis
couraging and business resting over
dogdays.
Belong to tho Company.
Justice Lehman OF the New York
Supreme court has just decided that
the list of shareholders in a COR
roration is the property of the COM
many. and can not be sold for the
purpose of circulation
But the tax books are apparently
open to this usage for every owner
of bonds or stocks is being con-
sistently circularized. especially those
paying intangible taxes in Wash
ington.