Evening star., 1923-12-19
STOCKS SELL OFF
IN LOCAL MARKET
Weakest Price Range of
year Reached Today--0th-
er Financial Gossip.

Local stock values deteriora+aa d,,,
Ing the last twenty-four hours .b,s
mornings session showing tho yye,l.
est price range OF the year. prac,f-
cally all Of the so-caIled favori,o !.
sues. with the exception Of RaiIu..,.
preferred, suffered.
capital Traction stock was off moro
than a point to 96 and 961s. vbil.
railway common sold off to 60 ~,
sales OF 110 shares. Lanston denrecj
ated to 20 on sales of 73 shares ava
washington Gas fiuctuated mildly ~
iractlonaly under 40. One share of
Mergenthaler brought 152.
Washington Gas SIS Of 1924 Gold oer
Iractlonaliy 70 par, and metropolitan
railroad 5s brought 991..
Bank Adds $4OO,OOO to SurpJux
transfer Of 100000 from undiyid-
eo profits to the surplus account was
authorized at the regular rnaatin- or
the directorate of the American Sc
curlty ana ssust Company YESTERDAY.
IN ADDITION the usual Quarterly diyi-
uehd OF per cent and an extra
dlsbursing of 2 per cent were voted
both payable January u to stock
hoIders of record. December n
Inc institution now has a surnIu,
or ~ 400, 600. capital of So 400 00O Az,
undivided profits of more than s.ao .u
VOg. 1t can be said il has estab-
IIshed definite 15 per cent annual
return inasmuch as 3 per cent il,
eAtTas have been added TO the
IesuIar IL per cent annual rate for.
ire it,, iass lwo years. Deposits approx
ZD.Ui gF,l
are more than $1,000 900.
Gold Imports Doubled.
Gold imports during Eove,, ~
We're s39,957,43G, more than do,bIa
lhoSe or year ago and 25 per cent
sIsater than in October, the Depart
,ltenL ri OF commerce announces. Ex-
ports OF S746,792 were less than
fourth of a year ago and show .
stump or approximately % per cent
from the average monthly receipts
siHGe 1Tf Jan January. 1922.
1922 to S29O.137,417 Exports. on ~,
other hand. fell off s6.2S1.415 TO So
5"l.s6s Net imports for eleven
4n9hIhs ne We're s262.205.529 or S21.51s.-
chdndise exports over imports.
Approximately 40 per cent Of tha
L@ars receipts are from London
The feature of the years movement
20. the uedNS NOIume or specie
Lmportatfons direct from Germany.
These. for ten months Of 1929. wzrs
almost $4,000. 900. compared with
only $4,000 in the correspondents
period OF last year.
Savings Bank Dividend.
Directors Of the Northeast Savinae
hank nave declared the second sem
annual dividend of 4 per cent. thus
placing the stock on an per cent
basis. 1t was also voted TO pass $1,000
70 the surplus fund, increasing this
item 70 $4,000
The annual meeting of shareholders
OF the institution will be held the sec
ohd tuesday in January at 1 o'clock
New Power Stock Issue.
An offering of 400, 900 shares of pre-
Ierred stock of the American ana
bonus OF an equal number OF com
mon shares of no par value was to
day made to the public.
Inc company issuing the stock has
Just been Incorporated in Maine, or
ganized by the Electric Bond and
Share Company whose common stock
IN It's entirety. is owned by the Gen
eral Electric Company. The Electric
Bond and Share Company is to pur-
chase for cash 10000 shares of the
stock. and will also own d majority
of the common stock.
The formation of the new company
is the actual beginning of plans for
extension of American influence il
the public utility field in cuba. and
Central and South America
The preferred stock carries : per
cent dividend rate. is offered at 96
and can be paid for in installments.
Bond Issue Authorized.
The Boston and Maine railroad
was authorized today by the Inter
state Commerce Commission to issue
S7.000,000 in bonds TO be turned over
to the Secretary of the Treasury as
collateral for a government loan re
Gently granted.