Evening star., 1924-02-07
LANSTON DECLARES
USUAL DIVIDEND
Earnings Gain-Auditorium
Stockholders to Meet.
Safe Deposit Ruling.

Directors of the Lanston Monotype
Machine Company have declared
their regular quarterly dividend of
! j 4 per cent on the capital stock of
the company, payable on February %
TO stockholders of record al the close
of business February 10, 1924.
! Officers of the company state earn
,ings for 1923 WILL in their opinion,
4 slightly exceed those of the previous
year, when approximately 10 per cent
was earned on the capital stock.
There is s6,000.0o0 of 500 par value
stock outstanding, listed on tho
philadelphia and Washington mar
'kets, with the latter handling the
tbulk of the trading.
| On the local board Lanston is now
iehJoSing It's highest level of the year.
| win Explain Auditorium Plan.
A meeting of stockholders of the
Washington Auditorium Corporation
viii be held in the New willard Hotel
tomorrow night. The public is in
IVlted to attend this meeting. at which
itlme the entire project will be out
lined from the beginning up to the
,present time by speakers. Ross p
iAndrews, chairman of the finance
I
chants and Manufacturers Associa-
ton. will speak on the work accom-
plished by Washington's leading bus
iiness men in selling stock in the aU-
ldItorium to the public without on.
jcent of expense.
Seeks s1O,OOO.OOO Bond Issue.
The Philadelphia, Baltimore and
Washington railroad, a subsidiary Of
the Pennsylvania system, today
iasked the Interstate Commerce Com
mission to authorize an issue of $40
tOOO,o0O in refunding mortgage bonds
ITO be turned over to the parent or
ganlZation as reimbursement for
money advanced.
| The New York, Chicago and St
| Louis road also asked approval of a
is2,665 900 issue in equipment trust
}certihcates to buy new rolling stock.
| Weldon Eelected Bank Director.
! John G. Weldon was yesterday
j elected to the board of directors Of
! the National Metropolitan Bank.
Mr. Weldon is president of the Real
Estate Mems Association, d director
of the East Washington Savings
| Bank and is also on the board Of the
National Union Fire Insurance Com
| pany and the Real Estate and Colum-
! bia Title Insurance Company. He has
! been resident of this city for man.
| years and conducts IA large real estate
| business on Capitol Hill. He was
| formerly a director in the American
National Bank.
Bank Opinion Creates Stir.
An opinion handed down by the
! court of appeals of Maryland defining
the relation of companies renting
| safe deposit boxes to customers has
! caused stir among banking and
trust company officials in that state.
| since the decision places the reSpon-
sibility for the contents of such boxes
8 "a II in
volved 500 worth Of liberty bonds
| placed in one of the safe deposit
| boxes in n vault of the Security
! Storage and Trust Company of Balti-
, more.
| Although the boxes can be opened
only with the key in the possession of
! the lessee, tke evidence presented by
| the complainant showed the bonds had
| disappeared.
| In handing down the opinion of the
| court of appeals, which upheld a lower
! court, Judge John r. Pattison declared
! the relation Of the company TO the Gus
toner was that of bailor and bailee, and
| that losses on the part of the customer
would necessitate an expla nation on the
! part of the company intrusted with the
; contents of the boxes. Failure to eX-
/ such boxes would indicate negligence on
! the part of those responsible, it was
held. While the opinion establishes a
| precedent in Maryland. officials of the
trust company take exception 10 II, De-
lieving that such a ruling could result
| in fraud.
! A bill may be introduced in the Mary
| land legislature to remove the liability
of such companies in cases of this kind.
| Local Exchange Active.
Continued demand for Washington
Railway and Electric common stuck
| resulted in sales of 100 shares at Il
on the local board today. Nearness
of the settlement of the Potomac
Electric Power impounded fund case.
| which has been pending for five
years is believed responsible for the
recent activity of the stock.
Other issues remain unchanged.
Riggs Bank was pegged a 295, with
the Merchants Bank and Trust Com
pany active at 129h. Security Stor-
age Company brought 500, and Rail
way preferred. 14as.
Railway is sold at -. Traction 5s
at 96l2 and Gas 6s at 101s.