Evening star., 1923-04-24
LOCAL SECURITIES
WERE AGAIN SLOW
Railway Directors Meet To-
morrow to Consider Divi-
dend Declaration.
BY i. A. FLEMING.

Ten-share lots were the order of the
day on the stock exchange this morn
ing, and not single transaction for
larger number was reported. IT was
case Of small investment buying,
with but little life or any particular
change.
Considerable interest centered in the
call Of Railway common, but the bid
price, 6S, was met with a proffer OF
stock at 68%.
The dividend meeting of the direc-
tors Of the company will be held to-
morrow afternoon and not today, as
stated.
The consensus Of opinion favors
per cent declaration, with just the
possibility that two quarterly distri-
buttons will be ordered June / for tho
two quarters of the present year This
proposition will be advanced by q
director but whether sustained Or
not remains to be seen.
whether or not the advance has
discounted the declaration of a divl-
dend also remains TO be seen. Walk
street always discounts unless suF-N
prised. Washington does sometimes
but not often. 1t is skeptical until
actuality develops truth.
A little stock sold at 681a. Tho
preferred shares were steady and un-
changed. at 74A.
4sM.a aSn'ns'0n Gas shares hr"sF at
A few shares of Capital Traction
stock sold at 99k
Lanston brought 7s and Merger
thaler 165. neither moving with any
show of activity.
American Security & Trust Com
pany shares sold at s26 to 324R on
sales of three lots of stock
Liberty National Bank shares UP
two points to 1872.
Bonds were steady but very quiet.
the only sale being of Georgetown
Gas 6s at SO. up a point for the pre-
vlous sale price. Gas 7h per cent
Personal Mention.
Joshua Evans, jr. is In attendance
on the executive council of the y
B. A. meeting.
r. Golden Donaldson. affable. smii-
| ing and happy. was at his desk this
morning at the Commercial National
Bank, after a winter in warmer
cline. His associates in the Con
mercial were glad to greet their
president on his annual return. and
to give him reports telling the story
of duty well performed and success
attained.
William A. Quigley. formerly with
Bartram Motor Company. has become
associated with Stroud, Kurtz G. Co.
! local investment firm.
Government Draws Down Cash.
Bankers are payir1> into their re
spective Federal Reserve banks $40
034,200 on account of Treasury GER
tificate purchase money. At the same
time the Treasury has called on the
banks for 900 payable on Thurs
day.
No Bank Meeting Mt New willard.
Announcement of meeting OF
those opposed to branch banking, at
the New Willard Hotel, called for
today, proved premature: at least tn"
! hotel clerks reported mo bankers
meeting scheduled.
To Settle Dispute.
The good offices of Secretary Mel
lon will be brought into play to set
tie differences between two federal
agencies involved in the administra
tion of the new farm credit system
the federal farm loan board and the
controller of the currency.
Disagreement between the two
units of the Treasury, it was said
yesterday, arose first, when the loan
board issued a circular suggesting
that national banks might organize
adjunct loan corporations under state
laws as an added facility for those
seeking to use the new credit sys-
/ tenn.
| thoroughly disapproved by Con
| troller Crissinger Of the currency.
who is said to have viewed the ac-
tion as a move by the loan board to
upset a long established policy OF
| the controllers office which had dis
couraged organization by national
| banks of any adjunct corporation
which would not be subject to super
vision under the national banking
laws.
Officials OF the Farm Loan Board
contended that they would have
complete control of the corporations
whose organization they had sug-
gested, but that did not satisfy the
controllers office. 1t was said an
official explanation of the loan
boards circular was asked for by
Undersecretary Gilbert several weeks
ago when he was acting secretary OF
! the Treasury. The correspondence at
! that time, it was said yesterday.
served to end the clash temporarily.
but there has been no change in the
attitude of the loan board.