Evening star., 1923-12-11
RAILWAY COMMON
MARKET FEATURE
Over 1000 Shares Changed
Hands in Today'S
Trading.

washington Railway and Electric
common stock ''fiared up again on
the Washington Stock Exchange, as il
is in the habit of doing from time
to time. and when the session came
to close the recapitulation showed
1,13S shares had changed hands. with
resultant rise in price of 2la points.
This issue was quiet at the start.
three sales OF twenty-eight shares at
67h and fractionally above creating
no undue interest. sale Of 100
shares at SO then followed, inme-
diately preceding one of the largest
sales on the local board, 1000 shares
at 70. A ten-share sale at the days
high concluded dealings in the issue.
The issue closed with but 671. bid
and 67s asked
Railway preferred was firm at 7l4,
its prevailing level, seventy-seven shares
changing hands, and Capital Traction
was unchanged at 98 and 97A. Com
mercial National Bank sold at 141, AMI
Riggs held at 295.
Small lots of Railway As at 69i.
and Wardman Park Hotel 6s completed
one of the most interesting sessions Of
the year.
Union Trust May Vote Extra
Stockholders of the Union Trust
Company will have an additional $40
600 for their Christmas requirements if
the contemplated action of their direc-
tors is carried out at this afternoon
meeting, when an extra dividend of
per cent is scheduled to be declared;
For the last two years this ingtitu-
ton has disbursed an extra dividend
of per cent. payable on December
"a to stock OF record December Is.
Edward j. Stellwagen, president OF
the bank says: I'VE have the money
for this extra disbursement. and J
should not be made
In addition to the extra, the regu
lar quarterly dividend of III per cent
will be declared, payable on January
said to be definitely on an per cent
annual basis.
The meeting will be held at $3.50.
Call Road Worth 500 100000.
Great Northern railroad officials
outlined today before the Interstate
Commerce Commission a claim that
the acaual value of that system is
500, 100000. or almost twice as much
as the federal valuation experts have
so far been willing to assign for II.
The commissions tentative valua-
ton of the road. which Ralph Budd,
100000. Final figures which will be
made after the conclusion of the
hearing of protest will serve the basis
for making of all rates.
New S2,OOO.OOO Bond Offering.
Harris, Forbes & Co. and the Ma
tional City Company are today offer
ing S2000.000 of Memphis, Tenn, 4l2
per cent and 5 per cent bonds, due
serially July |. 1924 to 1863, inclusive.
bonds and are offered at a price TO
yield 475 per cent for 1928 to 1947
maturities. and 40 per cent for ma
| turtles 194S TO 1853. The II per cent
and library purposes and are offered
at a price to yield 40 for maturities
1924 to 1853.
L. S. Certificates Going Fast.
Indications point to a big over
subscription to the new issue of GER
tificates of Indebtedness. Dealers say
they are highly pleased with the sub
scriptions already received. 1t is gen.
orally agreed that the rate is salts
factory.
In some quarters it is believed the
s3oO,0o0,o0o Offering indicates that
the Treasury officials are asking for
sufficient funds to meet December dis
bursements and current expenses to
March Is.
Debate on Tax Securities.
Clarence Schatz and T. j. Groom.
upholding That the federal govern
ment alone should be allowed TO is
sue tax-exempt securities" won the
debate held last night by the de-
batting society of Washington Chap
: ter, American Institute of Banking.
o. NJ. Hester and ]. Harris argued for
the negative. These debates are held
every Monday night at the chapters
rooms.
Tonight Francis G. Addison, jr, will
| talk to the elementary class on "Ex-
change and Transfers" while RAY
| mond B.. Dickey will lecture tonol:-
row night on Personal Properly"
On Thursday night Prof. F. J. DonO-
hue will address the economics class
on Corporate Expansion" and on
Friday night the topic for discussion
is Sources of Credit Information"
Auditor Studying Other Banks.
H. G. Marx, auditor of Riggs Ma
tional Bank, is away Indefinitely,
making a tour OF inspection of the
methods pursued by New York and
Philadelphia banks.