Evening star., 1923-10-05
LOCAL STOCK MARI.
TO0PEN TOMORROW
Saturday Holidays Ended.
Bank Dividends-0ther
Financial Notes.

period at practically an end, the
Washington Stock Exchange Will re-
sumo Saturday trading sessions be-
ginning tomorrow, 1t was announced
this morning from the floor of the .
exchange. This will mark the first
Saturdays trading since late spring.
Popular bond issues were featured =
on the board this morning. Wash
ington Gas IS Of 1888, always a favor
lite security. opened strong. at 10oA,
but dropped back a quarter point to
100k in later trading. Potomac Elec-f
trio first 5s were unchanged. at 96,-
but the general and refunding rs OF
the company were firm at 1071s. Pepco
general and refunding 6s of 1853 sold
at 101A. =
Capital Traction represented the
only stock sale, a single share selling
at par. -.
Make Convention Plans.
Eugene E. Thompson, president of
the Washington Stock Exchange, and
chairman of the convention commit
citation of America. was in New York .
yesterday comforting with John w.
Prentiss of Hornblower e. Weeks,
| relative. to the twelfth annual con-
be held here October % to 81. inclu-
sive.
Col Prentiss is to be elected the
new president of the association at =
stated that SO far 500 members have
made reservations for the convention. .
indicating that the forthcoming meeting.
viii be the largest in the history of the
association. -
Columbia Votes Dividend.
The Columbia National Bank has
dend Of $500 for the quarter ending
September 80.
This Institution Is now enjoying It's
most prosperous period since organi-..>
zation in 1887. Deposits Of the insti-
So. loo. 900. and on September IA. 1928.
the date of the controllers last call =.
! Tor statement of condition, showed a
gain of $205.161 over the previous
have increased approximately 5000, ,009. :.
1t was said. -
Frank ]. stryker is the active head
of the bank.
Dividend Rate Unchanged.
The definite annual dividend rate
OF 10 per cent, of the National Metro
George w. White, president of the
Institution explained this. morning. r.
| This rate. however, has been aug
rsson on ny July sss she sffch sses
| 1925 disbursements to IL per cent
The recent extra declaration of 1
per cent, payable January, /, 1924.
| 1t was explained. 1t is the purpose"
of officials of the National Metropoli
tan to declare an additional extra
%Seh conpedp Su per wth cent the cent
semi annual on April 15 and October
us next. will make next years dis
bursements total IL per cent, which
: will equal this years payments.
| Additional extras will be paid from
time to time If the banks profits war r
rant ii, 1t was said
! Another Dividend Voted.
! The Washington Loan and Trust ,
Company has declared its regular !
quarterly dividend of 214 per cent.
payable on November to stockhold-
erS of record as of October q
! This Institutions dividend disburse.
ments will total 13 per cent for the
lyear. an extra melon of per cent
having been declared last February.
| Membership Drive Successful.
| The membership drive being carried
on by the Washington Chapter, Amer
iican Institute of Banking. is highly
gratifying and is rapidly nearing its
goal of 1000 members, officers OF the
chapter report
! successful during the week in en-
! listing considerable support from
! bank directors, officers and employees
With 1000 members, the Washington
( chapter will, rank as one OF the
largest chapters in the country in
| proportion to the number of bank
| clerks, officers and directors.
Moody's Weekly Review.
Moody's Weekly Review of Finan--'
cial Conditions In its current issue .
says, in part: -
1 "American investors should be able
| some time within year or two to-
make handsome profits in French In
i ternal securities. Under the treaty
/ of Paris France gained practically
| nothing, but by a series of dipfo--
| matte victories she has become the
! most influential power on the con-
tinent, and promises to become the
! second wealthiest nation in Europe
and the third wea1thiest in the whole
| world. Her internal bonds in due
/ time should rise accordingly.
j Municipal bonds during the latter
part of 1922 held strong longer than
others. and in March, 1928, were up
| around their highest prices, while :
other bonds were about five points
! Hereunder. This high stability win
probably remain. and it renders these
non- -taxables pretty attractive.
/: stocks, like bonds, respond to the
abundance or scarcity of investment
funds. and, therefore. the present COM
! servative tendencies shown in the
bank loan figures look bullish as APP
piled to the spring or summer of next
year. This is peculiar situation.
money, but a shortage of investment
tcapital, and these two elements rem
der the movements of bank loans
1 well worth watching"