Evening star., 1922-04-06
LIGHT TRADING IN
LOCAL SECURITIES
Values on Some Shares Show
Slight Recessions-Guar-
anty Savings-Notes.
BY I. A. FLEMING.

While business remains fairly ac-
tive on the local stock exchange, the
buying cannot be called as .aggres-
SiVe as it was a few weeks ago. While
some bonds show a slightly easier
tone, with the same also true as to
the preferred shares of the Washing
ton Railway and Electric Company,
sales have been comparatively light
at the concessions, and 1t is question
able if any large orders could be exc
>cuted without Immediately advancing
prices of the various securities. There
has been no let-up as yet to the con-
structive side of either the bond or
stock section of the Wall street mar
ket, while the information available
as to business and the degree of bet
terment the. country over is en-
couraging to investors.
Odd lots of stock furnished large
part of the business of the day. In
this way Gas shares brought h612,
LanSton II, Federal National Bank
shares IFS. Railway. preferred 68&
and common 3S1a.
Gas SIS brought 92H. General IS of
the Potomac Electric sold at 99A and
Railway As at 6Sa4 to 6SB.
Want Earlier Dist rIbution.
Local merchants have, through
their organization. asked local
bankers for an earlier distribution of
Christmas savings funds. if such a
distribution would be practical.
Unquestionably the bankers will
do what they can to>further what the
merchants evidently believe will be
in the interest of larger trade around
the holiday season.
1t may be that the stated time
limit of some of the clubs will pre-
vent the early distribution this year.
but hereafter the bankers will make
the maturities earlier and. wherever
possible, maturity dates will be ad-
vanced to suit merchants wishes this
year.
Guaranty Savings Bank.
For some time stock of the proposed
Guaranty Savings Bank has been Of
fered in this city. but so far there
has been no official announcement re-
garding when it will open or OF it's
Jfiicial roster.
1t is understood that the proposed
capital of the proposed bank is TO be
create a surplus of $4,000. A con-
siderable amount of stock has been
placed. according to the best informa-
tion available.
following Washingtonians are named
as shareholders: Bert l.. Olmstead,
R. S. White, Fred j. Blue. Arthur
Copeland, E. P. Hinkle and ]. Clinton
Hiatt.
The building No. 1121 14th street
northwest has been purchased by the
promoters at price said to be $4,000,
and $4,000 will be spent in remod-
cling. The proposed banks charter is
granted by the state of Arizona.
h and O. Dividend Outlook.
The attorney general of the state of
New York has given it as his opinoin
that the bonds of the Baltimore and
Ohio Railroad Company and of the
st. Paul system whl continue legal in
vestments for. savings banks in that
state.
If these bonds should cease to be
legal Investments for savings banks,
it will require fve-year period of
continuous dividend paying to enable
them to get back into that class.
1t is probable that the directors of
these companies will make strenuous
efforts and strain a point to keep their
bonds in the high-grade savings banks
class.
,B & O. especially has s134.00O. 900
bonds to refund within the next three
years and this rather improves the
dividend prospects.
Items From Security News.
The following are items selected
from the April issue of the Security
News. issued by the employees of the
American Security and Trust Com
pany:
Howard Moran. vice president, has
gone to Mexico for several weeks.
Another drive for new business will
begin April Is. when the employees
who have Joined the American Secur-
ity Business Development Club begin
to aid in developing the business of
the company on an organized basis.
The members are to be divided into
two teams with captains. Last year
the employees savings deposit contest
resulted in 2,59S new accounts being
opened. Awards will be made after
the present contest ends.
"Acquaint yourself with the bank S
Advertising is bit of advice that
applies to employees of all banks and
trust companies.
C. ]. Bell, president of the company.
notified all officials. directors and en-
pIoyes regarding four special book
let's issued during the month of March
and urged upon every one the thor
ough reading of the literature.