Evening star., 1924-05-22
LINCOLN BANK STOCK
FEATURES EXCHANGE
Abrupt Rise in Price, Totaling
% 1-8 Points, Made in To-
days Trading.
ACTIVITY IN OTHER ISSUES
Washington Clearing House Meet
ing Scheduled for Tomorrow
BY CHAs. r. sHAEFTER-

An abrupt advance of 231s points in
stock of the Lincoln National Rank
was easily the outstanding interest on
the Washington Stock Exchange this
morning.
This issue, which is comparatively
| closely held, sold to the extent of
| twenty shares at 343h as compared
| with the previous sale of 800. II was
strong at the close, $40 bid with 400
asked. Lincoln seldom figures in local
| exchange trading. but ten shares hay-
ing passed over the Washington board
this year prior to today's sales. The
book value is in excess of the selling
price.
Lanston Monotype was active a.
72k. and Capital Traction continued
weak at 929l. Railway preferred was
off to 71&, and Washington Gas Light
was unchanged at 4s14.
Clearing House TO Meet.
| The Washington Clearing House As
sociation will meet tomorrow afternoon
| at o'clock, Harry V. Haynes an
nounced this morning.
The meeting is for the purpose of
| acquainting the membership that GER
! tain plans, outlined some time ago.
| have been consummated.
Public Utility Investments.
The public utility industry OF the
United States represents a total cap
| ital investment of approximately s11,-
! 500,000,0 900, according TO the National
| City Company The investment iu
this particular field of enterprise
ranks second only to that in the
steam railroads. and is nearly twicc
nf Ia ind
| and steel.
| During 1923 the public utilities O
| the country disbursed more thar
| $1,000, ,000, 900 in wages to their hu,.-
| dreds of thousands of employees. Tn
| present capitalization of e1ectrir
| light and power companies in ths
| country alone is estimated at NOR
| than $500. 900. 900. not including elec
herchandising companies, with
| 100000.
Total investment in gas compauie
| amounts to approximately s4.00p
| 100000 and sales of manufactured g.
| by public utility companies in tn.
| United States in 1923 averaged NOR.
| than 1,000. 900, 600 cubic feet daily dur
| ing the year a new record. The pres
| ent street and interurban electri.
| railway systems of the country repr"
| sent an investment of approximate.
| $4,000, 100000. The telephone syster
| of the country, il is estimated, reprt
| sents an investment of more tha,
s., 600. 600 oO0 and consists of son.
| 40,500,000 miles of wire, interconne.
| ing practically all of the communit
of the country.
Attracts Men With Capital.
| The steady growth and consistei
| earnings records of public utilit
| companies" the National City Con
pany states, have within recen
J, l.
portion of the large sums availabi
| for investment by insurance con.
panies, banks and trust companies
And al the present time. approx
| mately 2,000,00o.0o0 is invested j:
| public utilities by such institutions
Taking into consideration the 1000
| 600 depositors in banks, of WHOM
| half are savings bank deposito-s
and the 60,o0o,00o holders
Inok,nn ide insurance an polieies' not Gyes
million private owners of public utii-
| ity securities. practically every ir-
dividual in the United States shoulG
be intimately concerned with II.
| prosperity of the public utility in
| dustry."
| A. II. & 7. stock Issue.
| The favorable feature of a new
! American Telephone and Telegraph
| issue is that the company begins to
earn money on new capitalization al
| most as soon as the stock is issued
| 1t is simply trying to keep up with
| public demands upon its services, It
is said. and is not finding the task
an easy one Order a telephone i'll
stalled and you will find out how busy
American Telephone and Telegraph
is by the length of the delay.
The discount rate of the Fedora
Reserve Bank of Philadelphia, which
usually follows the lead of the New
York institution, remains at Al. pc
cent Directors met yesterday and.
voted to keep it intact
Personal Mention.
John Poole, president of the Fec
eral American National Bank. who i.
combining business with pleasure a.
New York and Atlantic City, will re
turn to Washington next Tuesday.
Eugene E. Thompson, president O.
the Washington Stock Exchange, is
in New York today.