Evening star., 1925-05-25
STEAMBOAT LINE
TO APPOINT HEAD
C.F. Norment Is Expected to
Be Next N. & w. Exec
ulive-0ther Notes.
BY CHAS. p. SHAEFFER.


A successor to Levi Woodbury.. PC
Gently deceased head of the Norfolk
and Washington Steamboat Co, will
in all probability, be named Thursday :
Of this week. when the board Of the
company convenes in regular session
From reliable. though unofficial.
sources. il is understood that Clarence
r. Norment, first vice president Of the
company, is to be the man. Through
long association with the late Mr
Woodbury., Mr.. Sorment is thoroughly.
conversant with every detail of the
company's functions and is the Iogicai
successor. He is Of the triumyirate
responsible with Mr. Woodbury. and
Daniel j. Callahan. second vice pres
steamboat company, for the high
standard Of efficiency which the Nor.
folk line now maintains.
MIR. Callahan, il is understood will
continue as general manager Of the
line in the capacity of first vice presi
dent.
Trading OH Local Board.
An inauspicious session ushered in
the weeks trade on the Washington
Stock Exchange today
Capital Traction stock attracted
major attention in the restricted trad
ing, firming up TO 95Ao on sales of 81
shares. 1t opened unchanged at 90.
with the ma jority of sales at it's best
hgure. Lanston was unchanged al
o2a4, and Mergenthaler Linotype eased
of TO 1874 on an odd lot sale. Ma
uonal Mortgage and Investment was
hrm, but unchanged, at 9A.
The bond list was neglected.
New Bond Issue.
An additional offering of 100000
National Public Service CORPORATION.
80 year. 612 per cent sinking fund col
lateral trust gold bonds of series 4
is being made today. by banking syn
dicate. at 97i2. and interest to yield
about go per cent. Also, public
offering of 81 100000 Fox Building OF
New York, first mortgage leasehoid.
612 per cent serial gold bonds at =
price 10 yield 5.97 per cent TO $50
per cent maturity yield. They are re-
deemable serially 1926 to I945.
Damage Losses Reduced.
Expenditures in 1924 of United
States and Canadian railroads because
of loss of or damage 10 freight while in
transit. were the smallest for any one
year since 1917, the American RailWav
Association reported this morning
Claims paid in the last year amounted
TO S48.262, ,543, a decrease of S1.277.843
the previous year.
OF the total paid. S2S.4SS,12S. or 50
per cent. was due to damage to freight
while in transit, and S12. .166. .SIS, or %
per cent, was due to loss of freight
Claims aggregating $7,607.5 .597, or
about Is per cent, were paid by the
carrier growing out OF delays To
freight while en- route.
Loss and damage claims presented
n q he
totaled 81 ,49S.790, a decrease of $335..
1874, or lis per cent, compared with
the number filed in 1923.
Bankers Meet Tomorrow.
The District of Columbia Bankers
Association will hold a special NEE
ing, combining dinner with business
at the Columbia Country Club tomul
row night. Only routine matters are
scheduled 10 be brought up.
Supreme Court Ruling.
Federal Reserve banks which hold
notes on which protest. notice ana
diligence in collecting have been
waived are not required to preseu,
them for collection at the bank IL
which the maker of the notes is a de
positor, even though the notes Were
drawn to the order of that bank ami
ii was known to the reserve institu-
ton that the bank to whose order the
notes had been drawn was in tlnaE
cial difficulties, it was held by the Su-
preme Court here today in affirming
the decision of the lower courts in
case brought by D.. S. Soweu of Gle
burne. Tex. against the reserve banI.
of that State.
The courts ruling would apply
even though the notes were drawn 10
the order OF the bank where the
maker had funds, and regardless Of
whether the Federal Reserve Bank
knew that the bank to whose order
the notes had been drawn was iu
financial straits.
Waller Celebrates Birthday.
W. ]. Waller, vice president of the
Federal-Alnericau National Bank. l.
receiving Fluctuations today on his
36th birthday.