Evening star., 1925-03-24
RIGGS BANK STOCK
SCORES NEW HIGH
TWo-Point Gain Today While
Some Other Local Issues
Go Lower.
BY CHAs. r. sHAEFFER.

STOCK or the Riggs National Bank
apparently knows no limits. In to-
days session on the Washington
Stock Exchange IT scored an addi-
tional 2-point gain to 363 on sales Of
Is shares.
This stock, representing the largest
financial institution in town, which
has just acquired the Northwest
Savings Bank. has been the 1925 fea-
ture of the local market, It's rise be-
Ing meteoric in comparison with
many other issues. Traded in to date
to the extent of ais shares, which
eclipses any other bank issue on the
board. the security has registered an
advance of SAT a share since January
!, at which time 1t was selling at 306.
the years lowest level.
Washington Railway Electric
preferred suffered a decline in today's
trading. selling of to 81 q on the in
itial sale, and later to 81A. Lanston,
likewise, was weaker, a limited num-
ber OF shares being exchanged at
S1A. National Mortgage & Invest
ment preferred was firm but un-
changed at 9M.
Despite a fractional decline I'm
Railway As, the bond market was
strong. The long term carriers eased
off to 1885 on sales OF $4,000. while
Potomac Electric Power rs sold at
Potomac consolidated 5s brought
99k, and Washington Gas 6s OF 1893
brought 103% for the larger denomi-
nations and 102 for the smaller.
New Note Issue Due Soon.
A syndicate will shortly offer a new
issue of s5,000.o0o OF Manufacturers
Finance Co. (Baltimore) 10-year
per cent collateral trust gold notes,
series "A" due April l, 1895.
The ManufacturerS Finance Co.
one of the oldest of the so-called
non-notification commercial banking
companies in the United States, owns
all the common beneficial interest
shares OF the Manufacturers Finance
Trust. which conducts a similar bust
ness in the State OF Illinois and sur
rounding territory with headquarters
in Chicago
About 80 per cent OF the business
consists Of the purchase of open ac-
counts and notes receivable from re
liable manufacturers, wholesaler
and tobbers representing widely di-
versified industries. The balang
consists OF automobile and install
ment liens and mortgage notes.
Lectures at Institute.
Joseph K. Meyer will lecture %.
Some Phases of Interest before tn
accounting class of the local chapter
American Institute of Banking. to-
night Tomorrow night the nego-
table instruments class will hear
Raymond B. Dickey on "DelIvery'
The following night will be shared
jointly by Eliot Fl. Thomson. on
Foreign Exchange" before the ele-
mentary class. and by Rufus Lusk
with the public speaking and de
batting class, meeting in the rooms OF
the local stock exchange.
Members OF the credits class will b.
offered the opportunity on Frida.
night TO hear Ralph B. Quinter o.
Handling Embarrassed and Bankrup.
Concerns" An effort is being made g.
secure full attendance on this nigh
especially of graduate members. Ai:a
on this night the standard econone:s
class will be examined by F. J. Dor
hue.
Lease Plans Are Denied.
Official denial that the North Amer
can Co. is planning to bid for III
lease OF the Philadelphia Gas WoTl
has been made by F. l.. Dame, pres
dent of the former firm.
Mr.. Dame officially states his con
pany has not at any time considere,
making a bid for this lease, nor Is
planning to do So
Personal Mention.
Ord Preston, president of the Was.
ingten Gas Light Co., will return from
a short trip to Florida the latter par
of this week.
Capt. Julius Peyser. president of th
Security Savings and Commercial
Bank, has concluded a short vacatior
at Atlantic City. I