Evening star., 1924-03-11
CAPITAL TRACTION
STOCK |SSTRONG
Equals High of Move in To-
days Trading - New
Treasury Issue Popular.

Today's session on the WASHINGTON
Stock Exchange win be listed as ona
of the dullest Of the year, the ma
jority of traders expressing a. pref
erence for the warmth Of their ON
ces rather than braving disagreeabie
weather.
But two issues, both on the stock
side Of the list were traded In, Capt.
tai Traction stock equaling its high
quotation on the present movement
by selling to the extent Of six shares
at So, while Merchants. Transfer and
Storage Company changed hands
at 11o, twenty shares figuring in the
Liberty Bank Fear Years Old.
Four years ago this morning the
its % doors iona as national % insti,uttona & open
At that time it had a capital OF
$3.50, 900, surplus of s25,0oo and de-
posits of sSs0,10S. Now, four years
5teF it. snspus nepTas ahsve Of
ed profits of approximately $4,000
and deposits of about $2,Soo,o0. Also
an annual dividend disbursement of
2 per cent is being maintained, and
/, set by President Watson four years
ago has been accomplished steadily
and consecutively.
The Liberty National is officered by
George U. watson, president; Edward
]. McQuade, vice president; NJ. F. Cal
| nan, cashier; ]. B. Skinner, assistant
cashier, and T. p. Ltttlepage, general
counsel
Bankers Committee to Meet.
The law and legislative commit
tee of the District of Columbia
Bankers Association, which is head
4 II mil hn1 60 Ey.-
ital meeting at the organizations
headquarters, Masonic Temple, Fri
day at 4 o'clock.
This meeting is for the purpose OF
going over certain matters that come
within its functions, it was said.
Treasury Issue In Demand.
Notwithstanding that Secretary of
he Treasury Mellon was regarded as
having pressed the money market a
trif1e more closely than usual in fix-
ing the rate on the new loan at
per cent, the certificates are reported
In banking fields as in heavy demand
Purchases for the account of bank
ing institutions are on a relatively
large scale, their employment of
casting a rather sitter charge for
commercial and other accommoda-
tions
Riggs Bank Declares Dividend.
Directors of the Riggs National
Bank have declared a semi-annuaf
dividend of 6 2 per cent on the 50 ,500,-
600 capital stock of the institution,
payable April Is to stockholders of
record March 81.
The action was taken at the, regu-
lar meeting of the board yesterday.
Sinking Fund Purchases.
Federal sinking fund purchases in
February were s49.46s.150. the second
largest month in the fiscal year, and
making a total for the eight months
! of S26S,73e, 900, as compared with
! s236,31S,S 500 for the same period of the
preceding year and s2S4.0Is.S0e for the
| entire, fiscal year ended June 80, 1923
} 1t IS estimated that there will be
available for sinking fund purchases
in the current fiscal year s2S7,144,360
which would indicate a balance of
somewhat less than $4,000, 900 to be
! utilized during the remaining four
months. For the fiscal year ending
June 80, 1925, it is estimated the sink
ing fund will approximate $4,000, 900.
Reeside Quits Board.
Howard S. Reeside, former presi5eat
of tire Washington Gas ight Com
. pany, resigned from the board of d.
. rectorS of the company yesterday be-
| cause of i'll health and will be sue
ceeded on the board by William King,
a. coal merchant and former president
i of the Farmers and Mechanics Ma
/ tional Bank
! Ord Preston succeeded Mr. Reeside
as president of the gas company at
! the annual meeting several weeks
ago.