Evening star., 1923-12-28
CHANGE IN BANKING
HOURS RS|SPOSS|BLE
District Association May Be
Asked to Shorten Present
ScheduIe-Notes.

The first 1924 meeting of the Dis
trict Bankers Association will be held
at pm. Monday, January 81, as pre-
scribed by its constitution, in the as
sociation's rooms. Masonic Temple,
according to announcement by Harry
V. Haynes, president of the body, thf
morning.
The routine proceedings of ths
meeting will be augmented by an ad-
dress on Making a Budget" by a
representative of the Women's Homa
Economic League, who will point out
the advantages of expenditures alon1
a carefully devised line.
1t is also understood from conf
Genital sources that a resolution
leading to earlier closing hours In
fered. This subject has been the
main point of difference, locally, for
years. In 1920 during the associa-
i,.;a tions annual convention d similsf
but never put into effect, the OPP
position proving too strong for pro-
ponents of the measure. The order,
authorizing early closing hours, was
those favoring the move believe the
time now ripe for a second attempt,
ii is understood. Anticipation OF
such a resolution will undoubtedly
bring out an unprecedented repre-
sentation at the forthcoming meeting.
The report of proceedings OF tho
1923 convention, held at Hot Springs
last June, is ready for distribution.
Mr.. Haynes said. and will be mailed
early next week.
Local Exchange Trading.
Common stock of the Washington
~ &.-sy
the feature of today's trade on the
local board. This issue gained frac-
tionally. being strong at 70A and 70I.
on sales of sixty-one shares.
Lanston Monotype ruled steady at
II. with Continental Trust Company
off to IS. Capital Traction was
slightly easier at s5K, with Wash
ington Gas unchanged at 4siS.
sale Of $500 Capital Traction So
at e4A was the only bond trans
action.
New Investment Totals.
The volume of new investment is
sues definitely in prospect for Janu-
ary will aggregate Sl60,00o. 900. rep
resentative of a large New York house
yesterday estimated. Sixty millions of
this amount, representing the Argen-
tine loan. is figured as almost a GER
tainty, while the remainder, including
a number OF railroad issues, is depend
ent upon market conditions. All these
deals, however. were classed as about
ready for offering. A number of other
issues are beginning to take shape.
but their negotiation is yet only in
the preliminary stages, and little
tangible information is to be had con-
cerning them.
for within the next few weeks, but
sufficient demand is seen to attract
additional issues to an amount to
raise the total for the first month Of
the year to s30o,0o0,o0o. or there
abouts. Selling organizations have
little material at present with which
TO work and are getting primed for
the new business that lies ahead.
Seeks $780, 900 Bond Issue.
The Chicago & North Western raii-
road asked the Interstate Commerce
Commission today to authorize an is
sue of s3.150,000 in mortgage bonds
to its own treasury for additions and
betterments. and for the retirement
of funded indebtedness.
Moody's Weekly Review.
Moody's Weekly Review of Finan-
cial Conditions says, in part:
The outlook may now be defined
more definitely. The declines in COM
together with the smallness of new
financing in the summer and early
autumn. replenished somewhat the
supply of liquid capital available for
investment. In these various ways
any necessity for further heavy
liquidation of securities or goods has
been averted or postponed.
General trade is following a
strictly normal course which should
foreshadow the usual winter reaction,
spring activity, summer dullness and
autumn boom. Taking broader
view, it Is indicated that general
recovery of commerce should begin
in either the spring or the autumn
of 1924.
Bond prices respond consistently
to trade conditions, and therefore in
the long run the dullness of trade,
both now and during the first half or
thereabouts of next year, should act
as a stimulant to the bond market.
"One may well believe, then, in Sc
lection versus trend as means of
making profits. Rails ought to be a
purchase as soon as the railway bill.
whatever it may be, becomes pretty
nearly framed. Coppers. oils and some
other stocks also appear approximate
ly Debated"