Evening star. [volume] (Washington, D.C.) 1854-1972, 1924-07-01
LOCAL EXCHANGE
HAS LIVELY DAY
Bank Holiday 0ff--W., B. &
A. Raises Fares--TimeIy
Financial Notes.
BY CHAS. p. sHAEFFER

good volume of well diversified
..aoe ruled on the Washington Stock
oAohanse this morning, the trend of
prices being unchanged to slightly
weaker. This applied particularly to
1apitai traction stock and to Mer-
genthaler.
Capieai traction was in only nomi-
nal demand. sales of thfrtv-one shares
resulting in loss of a Quarter noin.
TO ~, with the Mergenthaler showing
a -efghths point drop from yes
terday's figures to 1881. Washington
Gas Light stock was firm, moving m
ward to 49A, and National Mortgage
and Investment preferred was un
changed at sA
The bond department was active
with transactions confined to local
utilities Traction SIS sold at s7H and
S7z and Potomac Electric debenture
os brought par and a Quarter The
Is OF the lighting company sold at
eo' ana lO7 Y. with Washington Gas
6s selling at 101A. Washington Cas-
SIS Of 1888 moved forward t from ron 1919 GGs
| changed at "a
Bank Holiday C.ued on.
LACK or unanimity in the ranks
OF the District banking fraternity haa
resulted in the resembling of the res,
oiutlon adopted last week by WasHx
ington Clearing House members which
would have obtained for bank clerks
holiday next Saturday. The clear:
ing members voted as a unit for the
measure, but inasmuch as few as
sociate members refused to join 10
the agreement 1t was decided to
Illustrate any possible difficulty and
function as usual. Prospects for o
triple holiday have thus gone glim-
mering.
Harry ". Haynes, leader of thA
Charming House Association. made
a valiant effort to put through the
movement, and though his attempts
have proved futile, nevertheless he is
being besieged with thanks from the
junior personnel of local banks for
his earnest endeavor in their behalf.
W., b. and A. Raises Fares.
Single and round trip tickets to Bal
timore on the Washington, Baltimore
and Annapolis electric railway line
have been increased 20 per cent, eff
fective iris morning, due to recent
ruling by the Maryland public service
commission. The commission, how
ever. denied the carriers request for
a 10 per cent increase in commute
ton rates and on school and trip
tickets.
The new schedule of rates is to re-
main in effect for two years unless
frevoked by the commission.
reyenues Will fhG be sPeIed to the
amount of $4,000 annually by the
increase.
Property Values Studied.
The constantly increasing amount
of property which has been rendered
by various means tax exempt in the
Just completed by the National In
dustrial Conference Board. The value
of the country's exempted property,
according to the boards figures, ap-
proximates $S5,000,0 100000 and repre-
sents more than one-sixth of the
country's national wealth, being equal
to one-thfrd of all property assessed
under the general property tax.
Included in the total is $4,000. o0o,-
900 in federal, state and local govern
ment securities. s1.000.O 100000 in foun-
dations and $500, 900 in college,
hospital, charitable and church endow-
mentS.
Motor Dividend Voted.
The board of directors of the CONT
mental Motors Corporation has author
lied the payment of the regularly quar-
terly dividend at the annual rate of so
cents per share.
The disbursement will be made July
80 to stockholders of record July 10.
Keeps Convention In Order.
George A. Harris, president of the
Potomac Joint. Stock Land Bank has
returned to Washington after four
day session with the Democratic ma
tional convention in New York.
MIR. Harris has a keen sense Of HUI
NOR. He was an assistant sergeant
alarms, and by his own statement
kept order" at the sessions.
Railroad Control Taken Up.
Hearings on the application of the
Missouri Pacific Railroad Company
for authority to acquire control of
the New Orleans. Texas and Mexico
Railroad Company was set by the In
terstate Commerce Commission today
for July % at New Orleans
The Missouri Pacific proposed TO
purchase the capital stock of the New
sue all or any part of $4,000. 900 of
Missouri Pacific Railroad Company,
New Orleans. Texas and Mexico Rail
road Company collateral Z per cent
hfteen-year gold notes