Evening star., 1923-03-22
RAILWAY COMMON :
UNDER PRESSURE
Breaks Dollar a Share on
i Odd.Lot SaIes-ReduceS
Z; Call Forms.
BY i. \. FLENlNe.


common was nominal at 90 pio anu
66& asked. No business.
After the call the stock was under
severe 1O-share-lots pressure none "
the days sales being of more thah ~
shares, while the aggregate trans
actions totalled 140 shares.
Opening at 66A the stock declined
gradually. but. steadily to TO "a. ln's
was the actual close as compared
with the official closing or 90 oiu.
II was the only stock in when trao troo
Ing reached the proportions OF ~ ~;
shares and the only utility traoeu t,,iai ;'
Security Savings and Comihei Ia. .,
made a. 10 point jump between een
sales. selling at $50 anu n, - in
proba bly, on the general @'i
Eiers National was 500 bid and o-e
asked when the capitaliZahcn oi
the bank was 100000 shares soiu w
to $500 each ,
Merchants Bank aud Trust Com
pany sold at IL. ,,,,o,,
Norfolk and Washington Steamboat
shares were cX-dividend at ia. Iap,
raj Traction 5s 96t2, and Gas y per
cent notes. lO3, with Railway Is a.
Wan, Sanction to Contribution.
delegation OF bankers waited on
D r. Crissinger, controller OF ihe
curreucy with a view OF oDtaihihs
the right. if possible. to make con
tributions to the entertalnmehl oi 'he
Shriners convention III Juhe'
Personal Mention.
Norman T.. Ellsworth has beeh ap
pointed manager of the local olhce -.
the Aetna Insurance Company. Win
Offices at 5l7-5lS Southern builolhs'
Forms for Bank Call.
WASHINGTON banks this morning re
ceiyed forms from the office or the
controller of the currency ioi '"'
next statement ut condition
Junior officials were SURPRISED 10
find that the forms contained pu
nine schedules instead oi the usual
fifteen. making it easy TO cothpiir
The general impression Is that NJ VI
wear. instead of the authoriZeo
three, and that two of them VIII pe
On long forms containing an seneu-
uleS and two short. tn" ihtorflatioH
desired for comparison at the close
Of the fiscal year and again al the
close of the calendar year.
Mr. Poole Returns.
John Poole has returned 10 his
desk after an absence of some days
at homo suffering from muscular
rheumatism in his right arm
Express Service to Russia.
Recent Investigations made in 50
Wet Russia by the American Express
Company has resulted in the reneWal
of the company's foreign money or
ders payable in actual dollars oi the
,'nited States. investigation devel-
nped that new banks have been or
ganized and that remtttances can
now be safely transmitted through
authorities in the. form Of dollar
money orders This branch o. the
company's service has been inopera-
live for some time past due 10 ohe
unsettled conditions when nave eA-
listed throughout Russia.
American Relief ADMINISTRATION
disseminating the sale of FOOD ana
clothing remittances to Russia has
hastened the decision of the Ameri-
can Express Company to resume Its
formerly well established service 50
AS to enable those residents or the
United States and Canada who wish
to continue remittanceS to relatives
and friends in soviet Russia for the
purchase of food and clothing OF
Uth9r necessities.
in diScont inuing its service Stateu
that a food package can now be pur
chased in soviet Russia for less thah
il costs in the United States or Can
ada
Counsel Not Needed.
THE American Bankers Association
Nnds that many banks which nave
filed claims with the State Depart
ment for balances in German banks
on Il pre-war basis. have been aP-
preached by lawyers soliciting en-
I,lovment on mmssion fee basis.
There is no cause for such engage
ment as the American Bankers ASSo-
citation has placed all such claims in
care of AN attorney by the commerce
and marine commission Of the Amer
lea IN Bankers AsSCriatiCn.
Bank C.carings Increase.
Bank rlcarings &C all the larger
cities continue to Increase z; a rate that
would indicate great activity in gen ;
200. 900 cIearings. New York city was
S59.S00. 900 ahead of year ago on
the corresponding day. In the same
comparison. the clcarinSS of Chicago
increased s20.3O0.0OO; Philadelphia,
S15,000,000, and Boston $20,0O0.O00.
Alive to Innntion.
Arthur Reynolds. president of the
Continental and Commercial National
Bank of Chicago, recently said his
to proceed cautiously. He said:
I'VE have no quarrel with mer-
chants who are purchasing to meet
Immediate or seasonal requirements. !
But those who attempt to stock up
beyond reasonable limits are being |
halted With primary markets active. !
it is sometimes difficult to restrain |
over-enthusiastic business men. to |
teach them the wisdom of buying and !
selling. instead of buying and holding. |
The recent action of the Federal |
Reserve Board in raising the redis- !
count rate in New York. Boston and !
san Francisco to AZ per cent is COM |
inendable. 1t shows Washington is |
alive to the danger Of imitation and |
Is putting on the brakes
Washington merchants learned the !
lesson of buying and selling curing !