Evening star., 1923-05-14
LOCAL SECURITIES
MOVE SLUGC|SHL\
Mercy Reflects Weakness il
BOston-NeW Banking
Office Opens-Notes.
BY I. A. FLEMING.

Mergenthaler found a new low thi
morning at 14SH. the weakness ia
ing in sympathy with the action q
the market in Boston. 1t is not eve
suggested that there is any real rea
son for the recent decline of neari
II points in the shares. the earning
being maintained at high rate VIII
every promise of continued prosperiu
throughout the year At $50 1t pay
e.66 per cent plus. and is one of IN .
! highest-grade investment stock
without either preferred stocks
ponds ahead of the shares.
No transactions in Lanston; Sh hi,
Ihe general list was slow, se.a
securities showing in the sales rec
ords, none TO any important extent.
american ne Security and Trust stron,
at 321 to 322A. Railway preferred
i3 B; Capital Traction. 9834
BOND sales included Gas 7I2 notes
lo5, Potomac first IS at 81 and Me.rI
politan 5s at 971a
Successful Plus.
The sale of 44 per cent Treasur
notes dated May Is, 1928, maturir,
March 10, 1927. was heavily oversuh
scribed. banks. holders of called via
tory notes, corpora tions and the pub
lie offering to take the issue to tn
extent of $1,000, 10000. Books hav
closed for cash subscribers, but vii
be open for few days for those de
sIrlng 10 accept the AZ notes in ex
change for the called victories.
There is but Il of 1 per cent differ
ence between the returns on the pres
ent Treasury issue and the victor
notes. With money as easy and com
Portable as it is today the a.; per cen
issue is an attractive employment ia
do Il
5A per cent bond
Personal Mention.
NJ. E. Allies is in the city today
attend meeting of the directors
the Riggs National Bank. which vii
be held at his residence, the upss
condition of the bank preventin,
meetings from being held there.
MT Allies viii return to his summe
home after the meeting, to spend tn
rest of May.
viii Spaid is in New York Cit
today and probably will be tomorrow
Opens AuspiciousIy.
The new branch Office of the Amer
lean Security & Trust Company
the Security Storage building. opene
auspiclously this morning. Quite
number of new accounts were opene.
and many of the customers of tn
main office found satisfactory parA
ing facilities and transacted bushes
with more ease than they could hav
at the main Office, where it is diff
cult to find even half-hour parkim
privileges
Mr. Bell and other officials ez
pressed satisfaction at the results
Adds More Boxes.
The National Metropolitan BAN
TINS morning received a large bloci
OF new boxes for its safety deposI
vaults, the demand of late necesSitat
ing the addition.
Potomac Electric Bonds.
The syndicate recently formed fn
the purchase of S4,000,00O Potoma
Electric general Improvement and re-
funding 6s, which included Messr,
Crane. Paris & Co. of this city. an
nounces the sale price of the bond
as 10112.
Local bankers express the belle
that the issue will sell WELL bu
find some fault with the marketlnl
price which is S35 on each s1,u0
bond above the net received by IN
Potomac Electric Company.
The bonds are redeemable at tn
option of the company at l07 y up
April l. 1888, and thereafter to April
l, 1884. at 1922
These bonds are covered by tn
same mortgage as the Z pei cen
and which are selling around lOi
Ultimately it is expected that the
will become the first mortgage bond
of the company. when prior issue
shall have been redeemed or 10
funded.
Gross earnings of the company TO
the year ended March 81, 1928 wer
S5,342,995 and net S2.51S,321. Afte
charges there remained for deprecia
ton, etc, s1,79S,S53.
The entire stock of the company I
held in escrow other than a feI
shares distributed among the dren
tors.
wild Cat Stock
1t is estimated that the annua
tribute of the American people
swindlers in wild cat propositions Of
stocks and kindred questionable pro
motions will total nearly $500. 60
annually. Washington has heretofor
contributed its share and will prob
ably be more or less of a contribute
for some time to come.