Evening star. [volume] (Washington, D.C.) 1854-1972, 1923-04-15
Increment to Further Better
Relations Between Bankers
President Euans Inaugurates Wednesday
One O'Clock Luncheons at City Club.
LunstOn Should Haze Local Director.

, ent prosperous million-dollar trust COM
pany, of which p. A. Drury is presi-
dent. rose 10 success.
Lnnston Monotype Company.
Lanston Monotype shares are quoted
, on the local stock exchange at about
dollar of bonds: it's bank credit is high,
| and it has maintained regular s per
s sisten dividend rate for some years con-
J. Maury Dove. president Of the cor
poration. has been for some time In the
habit Of spending two days a week in
Washington. but Of late has been con-
fined to his home by illness.
There is not the slightest question
that that there is more stock bought.
any other city. 1t is listed on the local
stock exchange and Is traded here ex-
cluSively.
| Some time ago the stock was listed in
| Philadelphia, but whatever transactions
were made there the next few days fol-
| lowing listing were on orders by local
people-testing the importance of the
Philadelphia market-and they found 1t
was not. 1t is not even quoted there
! now.
Last year $3.50 shares were bought
and sold here, But the company has
seen fit to remove the transfer books to
| Philadelphia. thus ignoring the market
and the army Of shareholders here.
AT u share Lanston pays a return
! of per cent return. plus fraction.
! When Mr.. Dove was we'll and attend
| ing to business il was possible to obtain
some general information as to the con-
! dltlon of business and the earnings of
| the company.
What is really needed. however. is a
| representative of local interests on the
! board of directors. who can and will be
! the mouthpiece OF the board Of direc-
! tors OF the Lanston company In report
| ing progress to local shareholders.
| Such an appointee would at all suit
able times be in position to make pub
! lie earnings and orders on the books,
| should give some information regard
| ing the success OF the new adding
machine business and, IL conditions
| and facts warranted 1t. would inspire
such confidence that the stock would
J have a market value more in keeping
! with its true worth.
E. j. McQuade represents the army
| of Mergenthaler stockholders In an
| excellent manner and has so demon
Mat Eugene E. Thompson, president
! Of the Washington Stock Exchange,
| has suggested to J. Maury Dove pres
| ident Of the Lanston company, the
need of the election of a local share
| holder to the LanSton board.
| Mr.. Dove is recognized as an able
| official and will. in the event Of spon-
| sorlng such movement In behalf of
| local interests, win the approval Of
that very large stock owning con-
| tingent located in this city.
] The transfer office should be return
| ed to Washington.
| With the faith which official in
| formation would inspire, if satisfac
tory. there is no good reason why
| Lanston should not sell close to par
! or better and cease to move irregu-
larry. although within a relatively
| narrow range.
Its Fourth Anniversary.
Today marks the fourth anniversary
of the Citizens Savings Bank New
York avenue near 18th street north
west.
1t is not often that savings bank
can work it's way across the million
space of time-very largely savings
deposits at that. it being the policy
OF the management to encourage
thrift: indeed. a new campaign for
savings is about to be started under
the slogan. Double Your Savings
1t Can Be Done"'
Fernand Petit. cashier of the insti-
tuition. calls attention to the fact that
the bank has cared also for large
commercial banking interests and
has made a practice of sending out
monthly statements to depositors
since the start of the Citizens Saw
ings institution.
Howard Moran, chairman OF the
District Bankers Association conven-
ton of 1923. has honored Mr.. Petit's
ability by naming him to the impor-
and transportation committee.
Mr.. Petit's friends expect that he
will put over his assignment with
credit to himself.