Evening star., 1923-09-07
LANSTON EARNING
OVER L PER CENT
Monotype Maintaining Last
Years demonstrating
Light on Exchange.

Net earnings of the Lanston Mono
type Machine Company for the year
to date are slightly in excess Of y
per cent, it was learned from an ur-
questionable source this morning
This rate of income practically main
tains the business on last years basis
Dividend requirements call for q .
per cent per annum disbursement.
This popular issue is now selling a;
72A, quarter point above the low
figure for the year. On January l.
1923, it was selling a 77A, while the
high level for the current year j.
S0A. reached several months ago IT,
volume of shares traded in, it is sur
passed only by local favorite public
utility stocks. a total of approximate
ly $500 shares having changed hands
thus far locally.
Institute Opens October o.
i The Washington Chapter, America
Institute Of Banking, will bcgl
functioning on October 8, with a spe
clai opening meeting. to be followed
ny active work starting the follow
ing night, James c: Dulin, jr.. presi
| dent Of the association, announce
this morning. The grand opening
meeting will most likely, take plac,
in a Willard ballroom, being ad
| dressed by prominent local bankers
after which will follow dancing am
| a reception.
course on credits will be inaugu-
rated this year by President Duliu
| rms course, briefly. is for the purpos.
OF 1nstructing Junior bank officers in
the proper use of credits systems
FRIDAY night has been selected tenta-
lively. for this course. while the ele-
mentary banking class will hold forti
on Tuesday night, the commerciaf
| law and negotiable instruments class
on Wednesday and the economies and
istandard banking on Thursdays.
Every employe and officer of bank
| trust company, savings institution
| financial character, with rank not
| higher than that of cashier or treas
! urer, may be admitted to the chapte-
| as active members. while every Office
above that grade may secure sustain
/ ing mem bership. Active members
dues are 81 per year. payable in al
vance, while sustaining membership
are So per annum.
/ Local Trading Light.
! Stocks monopoized today's sscssiof
on the Washington Stock Exchange
Lanst9n l1ins,7i ;. MAno,notype strengthencd
hands: while both Capital Tractio
and Riggs rights eased off. the former
TO 10o$4 and the latter to 93la
| Resigns Position Here.
! w. l.. Bachelor. who has beer
treasurer OF the International Finance
corporation since its inception severaI
years ago. has severed this connection
! to take up work of a similar nature IN
Baltimore. His reSigna tion will com.
before the international finance board
at Its monthly meeting on Septen-
Der L.
Slump i'm Bank Deposits.
| Local bankers report very generally
loss in deposits, even greater than
usual during the summer months,
1t is also true that a greater mum
| Der OF Washingtonians have been ah-
sent from the city this summer than
ever before. drawing heavily on bank
accounts. Rates have been held very
| suftiy, and while customers wants have
been well taken care of there has
been no disposition TO seek loans. This
drop IN deposits is said TO be quite
general and has led to increased dis
counting of bills.
The movement of crops toward mar
ket centers is under way. Borrowing
nS member banks on their federal re
| serve banks have doubled as compared
with last year, being now $4,000. 900,
compared with $404 900, 900 last wear
lhere is nothing at all alarming Il,
TINS. however, as the ratio of reserve
| in the reserve system is now 20 ner.
cent-higher than il was last wear
1t doesn't seem at all probable that
| the Federal Reserve Board would an
prove OF any increases in rates at this
time as their banks have ample money
ana any higher rate would be more than
! likely to provoke adverse criticism.
Weekly Financial Review.
Moody's Weekly Review of Financial
Conditions in its current issue saws in
/ part:
Foreign news. although lamentabl,.
| may prove to be more helpful than de
pressing to American business ShoIIld
the suggested compromise between
France and Germany be consummated
! through the negotiations between the
German industrialists and the French
| premier this would be more than an off
set in financial sense TO the Greco
: Italian trouble and the japanese dis
aster
We have but little trade with Italv
and almost none with Greece SO that
! we are not much concerned in the
questions involved. In 1919 the Bal
kan wars We're serious to US. because
or the danger that the great powers
might participate; but now there is no
| such danger
Yet the position OF our stock mar
ket is not very encoura ging With
public buying so small. these shocks
may prove disturbing. Commodity
prices are improving somewhat, but
trade returns are not quite as good as
Il
| While one of the most favorable sea
sons of the year for the stock market
is slipping away without any aggres-
| siye advance.
In the coal strike the real conflicr
/ of interests is between the miners ana
| the public; for the former are already
receiving exceptionally high pay for
the type of work, while the public is
| paying the bill. Labor in the coal
mining regions rides not in Fords nd
Chevrolets, but in Bucks. Studcbak-
] erS and even Cadillacs.
of the 1880 which anthracite i
worth in New York, mining labor gets
| about S4.4S per short ton, railroad la
| Dor. s1.16; lighterage wages represent
about % cents. and labor employed by
retail dealers gets about S11O, MAXIM
| s6.96 in all. As compared with this
| the aggregate profit of mining com
| panies. railroads and retail dealers is
about S1.47."