Evening star., 1924-05-13
STRENGTH DEVELOPS
IN FAVORITE ISSUES
Local Exchange Also Reports Rel
atlVely Heavy Trading Today
in Inactive Stocks.
RIGGS BANK DEPOSITS GAIN
FEDERAL Reserve Boards Advisory
Council in Session.
By CHAs. r. sHAEFFER.

strength in faForite issues, with
relatively heavy volume of trade in
heretofore inactive stock issues. was
the outstanding feature on the wash
ington Stock Exchange today. Rail
way preferred scored a rise OF a quar-
ler Oh point to 74Is, while the com
mon issue was stronger at 72 on sale
OF twenty-five shares. Gas Light was
also firmer, selling at IS. with Com
mercial National Bank in fairly active
demand at 40. Riggs National Banj,
brought 2S9k, with Washington Loan
and Trust strong at 395. Security
Storage brought $40.
The unlisted department enjoved its
greatest activity since inceptiou
Washington Title Insurance COMPANY
sold to the extent of 10 shares at 8
while District Title was unchanged m
1874. Fifty shares of Chapin SacEe
D per cent preferred brought s..
New Gold Bond Offering.
Merrill. Lynch & Co. are headir. FL
selling group, consisting of ther
selves, Schoellkopf. Hutton & Pom
roy, Inc. Of Buffalo; Sage, wiIcott Z
Steele and Hibbard, Palmer & Kitchcr
OF Rochester. which will offer in
rev days new issue of $4,000 "a,
General Railway Signal CompaI.
nrst-mortgage, twenty-year 6Is b.
cent convertible gold bonds, at IS
ana interest, yielding 6.65 per cent
The General Railway Signal Con
pany OF Rochester is ready TO acquir,
the Federal Signal Company OF AL
pany, the two companies being among
the best known manufacturers of
railway signal devices in the coun
try. They have been engaged ia
nearly q quarter of q century in tha
development and installation Of blogg
signals, automatic train stops and au-
tomato train-control devices, am
have made installations on many of
the important roads in this countr,.
as We'll as in Japan, New Zealand ana
Australia.
Bank's Deposits Growing.
Deposits of Riggs National Bani-
gained $l,974,o 900 in the year ended
last saturday, President Milton L.
Allies told directors at their regular
meeting yesterday. or the total III
crease outside Offices were respon sihIe
for 81 .067, 900, with the Park institv,
tion TIE leader. Total deposits IN
the the cate in question amounted TO
The Federal Reserve Board : ad-
visory council convened today in ia
regular quarterly session. IT is az
pectec TO devote its attention to rcU-
tiHe SUBJECTS and to give little atter-
ton to discount charges.
Building Industry Active.
Reports to Dun's Review disclose
continued activity in the building in
oustry. although permits issued for
new projects in April are for a smaller
valuation than those of March. This il
generally the case. but the April per-
mits show a decrease in cornparison
with the returns for April, 1923, and
this in the face of'the fact that for
each of the three preceding months
this year the volume of new building
was larger than it was for the CORE
spending month of the preceding wear
with returns from practically all OF
the leading cities in the United states
permits issued and applications filed in
Aprll had an aggregate valuation Of
s23I,5o1 zoo as against s264.024,000 for
April. 1923, decrease of 10 per cent.
in March the increase was SS per cent.
In connection with this matter con
slderatlon should be given to the fact
that prices of many building materials
are somewhat under the prices ruling ~
year ago. which will in part a feasl
account for the decrease.
Personal Mention.
W. Gilbert Dent. president of til
real esate firm Of Gardner & Dent.
Inc, and president of the Clinton Bank,
CLINTON. Md, is a Atlantic City at
tending the Maryland State Bankers
convention. Mr.. Dents wife and daugh-
ter accompany him.