Evening star., 1924-05-06
LOCAL STOCK ISSUES
DEVELOP WEAK TONE
declines Noted in Important Of
1erngs Listed Today on Wash
lngton Exchange.
BONDS RELATIVELY DULL
review of Finance and Busines.
Situation in D. c..
BY CHAS. p. SHAEppUD

Local security issues deveIoned
decidedly weak tone nm ,bo rUa.I,
-. otooh Exchange this morning, i'm
por'ahe offerings suffering decline:
'olufhe or transactions was create
thdn usual, while the attendanct
Droke all records for the year
capital Traction stock dominate.
the session, with a majority of III.
safes being made at 9SI2, or half
point lower than the preyious serli,..
price. This issue closed at 93Ss VII.
eotai sales amounting to 165 shares
washington Gas stock likewisc d.
prayed downward tendency, openlrg
AZ 4oh and declining to 48 on sales ~
n1ty-tWo shares. This security closed
tne DAY with net loss of l poiri
continental Trust Company stoc.
wa Was ans aiso weak, twenty shares chan.
The only bright spot in the story
IlSt was Washington Railway an
Electric preferred, which retained T..
level of "a on sales aggregating
tWenty-six shares
= Bonds were relatively dull, thour1
nrm. Gas 6s brought 1o1A. wit
georgetown Gas So selling at So.
halfway As were unchanged at 72a.
as were Pepco SIS at 81. Riggs realr,.
-OH5 oS SOiQ at " e.
Court Decision Discussed.
>, The Court of Appeals yesterday ae-
IlVered final decision in the Cote
case IN favor of the Continental Trust
company. This was a case brough,
by a number of different tract pur-
ehasers against the trust comparE
wherein the company had acted a.
trustee for different tract purchases
OF orchard lands from the F. Merters
nf mn
tract purchasers sought to hold tn.
Continental Trust COMPANY. acting
in the capacity of trustee. for fund
paid TO the f. Mertens' firm prior IL
its failure.
The Supreme Court of the Distric,
some time ago decided the case in
faVor of the trust company. and the
latest decision by the Court of An
peas affirmed that opinion in favor Of
the Continental Trust, which fnally
dlsposes OF the matter pending for
several years.
Chapter Classes Called on.
No classes will be held tonight or
lean Institute of Banking Officers o
the chapter for the ensuing year will
be named on Thusday, the polls open
ing from 4 to o'clock.
The final examination in Credits"
Will be held Friday at o'clock, Will
be conducted half an hour earlier by
F. J. Donohue
A new issue of s425o.000 of Amer
can Gas and Electric Company s Pc
cent gold debS2ture bonds at 94L
yielding 6.35 per cent, heads the day.
list of new offerings.
Other offerings include Gillican-ChIp-
ley gold bonds. Rome Wire Compan,
preferred stock and small bond issues
OF various municipalities.
First Mortgage Gold Bonds.
An offering of s3,250. 900 first morr-
gage 61a per cent gold bonds Of IN,
Pictorial Review Company will be
made shortly in New York at 99h anu
interest to yield slightly more than
6h per cent. The issue will be con
vertible at any time at the holders
option, into nine shares of per cen
preferred stock, callable at lis, anc
four shares of common stock of no pa
value.
stockholders of Durant Motors. Inc
Will vote at meeting in Wilmington
May %. on a proposed increase Or
l,O0O,ooO shares in the capital stock o
no par value, making the total 3, ,000. 90"
shares.