Evening star., 1924-11-25
RAILWAY COMMON
MAKES NEW HIGH
Stock Is Leading Feature OF
Today's Trading on Lo'
cal Exchange.
BY CHAs. r. yHAEFFER.

| nds oeen the outstanding issue on tne
| washington Stock Exchange for the
last month. today reached heights un-
precedented In many years when it
| sold upward to s6N
Guarded bidding punctuacted to-
days transactions in tha stock. In
| the main, only odd lots were sold,
while the initial bid was many points
| below the initial selling price. A total
OF so shares changed hands, scoring
an ADVANCE OF more than point over
| yesterdays close.
Brokers. generally. are reluctant to
explain the movements of this issue
| They point out the present level for the
per cent dividend payer is equivalent
| TO yield of about per cent, made
further attractive by the tax-exempt
| privileges the security carries. In these
times OF cheap money per cent Is con-
| sidered an attractive return.
Attention is also called to the epecula
| tive element Of the issue. Tho irnpound-
ed fund totaling about $4,000, 600, now
held uo by litigation, belongs to holders
| OF the common stock, and while it is
considered extremely doubtful a sum in
! excess of passed dividends will be
| paid II the suit is won by the company
nevertheless the amount now tied up
! Will represent an additional equity OF
| just that much.
Railway preferred stock was also
| manifestly strong in today's trade.
total of 56 shares selling at 1885
and fractionally above. Lanston
moved up to 7s, and Washington Gas
Light stock, also a recent market
| favorite, changed hands between 81
| and 52h. the trend being upward.
Capital Traction strengthened to e3.
and Norfolk and Washington Steam
boat sold at 21S. Ten shares OF Farm
ers and Mechanics National Bank
1 80 "a
/ an advance of several points over the
previous sale.
| Bond trading was confined to util
| tiles at fractional gains.
| Bank Insures Employees.
Group life insurance has been given
all its employees by the Washington
| Loan and Trust Company. The total
| coverage on 106 employees amounts to
! $4,000, the premiums on which Will
! be paid by the bank.
! Under the terms of the policy pro-
| lection Is without medical examina-
| ton. A disa bility clause is a feature
! of the insurance. This provides for
the full payment OF his insurance to
any policyholder who becomes to-
tally and permanently disabled before
reaching sixty. The insurance is paid
| in equal monthly installments for
stipulated period, and during the dis
| ability period premium payments are
not required.
| The insured also receive certain
| service advantages, such as pamphlets
dealing with health and sanitation.
and free visiting nurse service. This
service is maintained by the insur-
ance company in more than 1000
cities and towns OF the United States
| and Canada, and is available to
policyholders residing in any of the
| localities where 1t has been estab-
| lished-
| Fine Spirit Between Banks.
| The splendid spirit obtaining gen
| orally between competitive banks in
the District banking fraternity was
1 recently exemplified by an occurrence
| at Fourteenth street and Park road
Riggs National and the Park Savings
! Bank cater to the public.
| Upon opening one morning one Of
| the institutions found difficulty in
opening the door Of its vault The
hour was nearing 9 and a consid-
| erable amount Of cash was needed to
take care of early morning Gus
toners. Without hesitation officials
of the discounted institution literal
| ly stepped across the street to the
rival institution, borrowed the neces-
sary amount and took care of the
wants of their customers. Later in
the day the money was returned with
thanks and reciprocal offer.
Greater Protection Planned.
Officials of the District bankinx
fraternity appear little perturbed at
the reported movement to forge
! Christmas Savings Club checks. Add
| ed precaution, however, will be taken
| by them to minimize their losses
consisting in the main of a more
careful scrutiny of the checks as
they are presented for payment.
| Merchants will be sujected to the
| greater amount Of risks. the bankers
| aver, inasmuch as goodly portion
| of these checks will be used in the
| purchase Of holiday goods. Their
| risk, 1t Is said, is enhanced by pro
tective insurance carried by most OF
the retail houses, which has the tend
ency to encourage carelessness IN
cashing checks for others than es
| tablished customers.
| Some bankers, however, have de
| vised the plan OF & particular stamp
| to appear on the club checks, which
will readily discern their validity to
| the paying tellers.
Bank to BE Done in March.
The new home of the Anacostia
Bank will be ready for occupancy
next March, William P. Lipscomb, its
builder, vouched this morning. AL
ready the first floor slab has been
completed.
Upon its completion. the institution
will raze its present quarters at 202i
Nichols avenue. The new home is
located at Nichols avenue and l
street.
Personal Mention.
Robert V. Fleming, vice president
of Riggs National Bank, is al present
in ST. Louis, Mo, on business He
will return to Washington Friday.
Eugene E. Thompson, president OF
in New York City, and will return to
morrow.
Flip Coin Over stock.
The Tipping of a coin was resorted
| to on the Washington Stock Exchange
this morning to decide the "rightful
| owner of security that changed
hands during spontaneous bidding
Charles ]. Bell, who came off second
best In the ensuing action, intimated
a two-headed coin might have been
fused to decide the issue .
| Another Trafac Record.
| Freight traffic. for the tenth week
| this year, exceeded the million-csr
mark in the period ended November
| Is, with Ioadines of 1,015,704 cars. an
| increase Of 21,200 over the preceding
week. This also was q gain of 1854
cars over the corresponding week last
lyear.
Since the first of the year the Amer