Evening star., 1923-08-21
LINOTYPE FEATURE
OF LOCAL TRADING
MergenthaIer Goes Hiuher
Again Today-Soper Put
on Bankers Committee.

| Strength on the part Of Merger
/ thaler Linotype was again the ou,
| standing feature Of trading on I'll.
! Washington Stock Exchange toda s.
This security which has been al
vancing by leaps and bounds re-
Gently, opened at 155 z, closing q
quarter higher. Dealers asked IL
for the issue as the session closed
Riggs National Bank rights, on the
other hand, suffered a slight siunsp
TO SO" at which price three share
were sold Capital Traction was
| strong at 101.
On the investment. side OF IN.
mar ket Pepco Consolidated Is werc
unchanged at 81. and the 6si Of the
company were firm at 101 y. Ward
man Park Hotel 6s sold at par and
Washington Gas SIS brought 921&: TIL
6s selling at par and a half. {. y
L. Telephone 5s brought 92i2.
Brokers' Loans Decrease.
Within the past month. Wall stree
brokers' loans have decreased abou
s50,000,000. and the total Of such boz
rowings is now approximately 81. $50
100000. The present money borrow
ings of brokers compare with Jun
of first year, when the total wa
approximately the same.
Brokers loans have been reduced
s4OO,0OO000 since the first OF the yea
and s65O,C00.000 from the high poin
on February IA. this year. when tht
total reached $4,000. 900, 600.
Various brokerage houses in Wa
street report loans at d low levei
with reductions from the high poirr
running from 90 per cent 10 40 pc
cent. Notwithstanding the slight i'm
provement in stock market quotations
within the past week. there has been
no disposition to increase loans There
has, 1t is said. been considerable buy
ing on the part of large interests
who are taking stocks from the mar
ket.
Total bank loans of the country are
roughly estimated at So. 2.000.0o0.ooo
In other words. while brokers loans
have been declining. there has been
a larger industrial demand for none
At the moment the harvest is taking
a fair amount of money. and It
safe 70 assume that n good part o
the slack in brok ers' money demand
is being taken up by agriculturalists
thus keeping the credit situatio
stable.
Brokers loans now are approx
matCly AZ per cent of total BAN
loans
Put on Bankers' Committee.
James a. Soper of the Lincolr
National Bank has been appointed
| member of the National Membership
Committee of the American Iustitut,
of Banking. it was announced this
morning by James d. Dulin, president
of the local chapter.
Mr.. Soper'S work will consist %
spurring membership in the nationa
association, and Will be similar t6 tn,
capacity held by T. Hunton Teith. who
heads the local membership body
| The local body has set a goal of .006I
{ members by fall which will necessi-'
-! tate the securing of go new entrants
! in the next few months.
! Local Cable Company Agent.
The international Exchange Bank.
upon recommendation Of the Italian
| embassy, has been named local agent
of the Italian Submarine Cable Com
pany. which has received concessions
from the italian government to oper-
ate a South American cable to cor
meet Italy with Spain, the Canary IS
lands. Brazil. Uruguay. Argentine andA
subject to Portuguese consent, tho
Cape Verde Islands.
They will also operate North
American cable from Italy via Spain
to connect with New York cable -
| be laid and operated by the Western
| Union Telegraph Company. and "A ca
/ BILE between Brindisi and Greece which
will be operated by the Italian GOV
ernment.
Personal Mention.
| John B. Larner. president OF, the
| Washington Loan and Trust Com
,pany. is spending a vacation at his
| summer home in Miffiintown. Pa
Harry G. Meem. vice president of thu
company. will leave shortly for a stay
at Spring Lake, y !. Col Robert y.
Harper. president of the District Ma
tional, has returned from Il short stat
! in Canada.