Evening star., 1923-05-09
LOCAL SECURITIES
SLOW AND EAS|EF
New FIotations of Interest
Bogus Checks in Washing
ton-L0CaI Notes.
BY I. A. FLEMING.

BY I. A. FLEMING.
Railway preferred sold on the loca
exchange today at new low 70
some time, - to 1915. 200 shares be
ing sold. At the same time the biz
price OF the common stock was agaiI
lowered. but the drop from 20 har
been accomplished without seernngl.
soaring any holders into a rush I,
liquidate, nothing but few ten -shar
lots being sold.
Lanston was bit easier at 20
while Mergenthaler was off to 1851!
from an opening At 159. as compared
with 160. yesterdays closing
Continental Trust sold at 80 art
American Security and Trust at 320l
Crissfnger-Dawes Reception.
The District Bankers Association
have named Thursday, May "a. as the
date for q reception to Gov. Crissin.
ger OF the Federal Reserve Board an'
Controller of the Currency Dawes. ft
be held at the City Club.
SchiavOne az Host.
Joseph Schiavone. president of th'
International Exchange Bank, will b'
host to group Of bankers at dinncl
tonight.
Indications for Oyersubscription.
All Indications point TO an oversui,,
scription for the new Treasury notes
the Richmond bank accepting sub
SCIlptioliS IoudF, SUBJECT 10 dIiOtmehl
Munsingwcnr FIotatton.
Munsingwesr. Inc. to be present.3
organized. will combine two well
known business concerns. the Wayne
Knitting Mills Of Fort Wayne. Ind.
and the MunSingwear Corporation
manufa cturers OF the largest line OF
knit underwear and knit hosiery, WITH
the largest distribution OF goods OF
any known line.
MunSinPWear. Inc aufhorize6 onh
600 shares of stock of no par value
and is asking tenders on 9o.nnf
shares at S42 per share
The existing management Of Mu'
SingWear Corporation sill continue IL
control of the consolidated organiza-
tiou.
Net sales for the years named q.
the Two companies were as follows
iaIs sI5asi sGSt; e", 1873 lsaS sIs9SSsi Is9SSs
1921, s13,o74.1S7; 1899. s13.32S,o7s; tn,
average profit Of tho last six year.
was equal 10 1915 share on The
stock OF the new company and pres-
ert earnings indicate about SIS
share. Each Of the constituent corr
panies has paid common dividends
for many years and IT is expected
that the new company will start pav.
ing dividends at the annual rate Q
So share
Stock delivery will be made abou,
May 81 from the Office of Goldman
Sachs d Co. New York.
Cosmopolitan Omre snd Thcater.
The Cosmopolitan Office Building
and Theater Co. Inc. is offering
tive as to dividend. paying per cent.
At 500 a share. Local people are
back of this proposition. Alexander
Wolf being president: Thomas Armat.
Vice vice 4 5uiHa HarPsr mryIxss treas
urer; Fulton Brylawski, secretary;
F. Nixon Nordljnger, director. and a
Brylawski. general manager.
The building and theater will be
located on tho northeast corner o,
18th and f streets.
The value of the land. building and
equipment has been estimated at
S2.50o,oo0 plus. an asset value of s:
for each doller OF preferred stock
purchased.
This issue of registered preferred
stock will he sold for cash. or at the
option of the subscriber. 90 per cent
at the time of filing subscription ant
the balance in four equal install.
ments, payable at the District Ma
tional Rank.
Branch on Leviathan.
The Farmers Loan and Trust Com
pany of New York. under arrange
ments made with the Shipping Board
will open a banking office on the
American teamShip Leviathan wher
she sails on her first trip in the
passenger service. July 4, from New
York
This innovation will give passengers
while travelling at sea full opportu.
nifty for cashing letters of credit. ex.
changing moneys and even receiving
money from any port for transmits.
sion to guests of the ship. Moreovet
passengers may send money To shore
points at pleasure.
Looks like there might be some
thing doing on the initial trip of tbs
big liner.
& National City Contest.
A contest in the National City Bank
mess was responsible for an increase
of S3.2o0,000 new deposits to the
credit of $4,000 new depositors
Received Bogus Certified Checks.
W. r. Hibbs & Co. and John j..
Edwards &c Co. of this city. were
among the brokerage. houses .receiv
ing orders for execution on the New
York Stock Exchange on Monday, the
orders being accompanied by forged
certified checks.
The plotters made a strong play
but few have been able as Yet /"
satisfy themselves as to the purpose
Of the attempted coup.
Chapter Election.
Washington Chapter, 4. !. B., VIII
hold election tomorrow for Off
GERS. the polls being open from un-
til s pm, at the chapter rooms, New
Masonic Temple.
Michigan Banks.
State banks operating in Michigan
show for the year ended April 3. an
increase in loans of from $l0J.910, 5S3
to sS9015S.252, and an increase in
deposits from $152.050,6S3 TO s947,s56.-
i752 These increases made in
single year are phenomenal even for
a state housing the Ford Motor Co.
This city set Il pace but Michigan
has passed it,