Evening star., 1925-09-23
HIGH PRICES RULE /.
IN LIGHT TRADING
Railway Common Advances
Half a Point-Other
Financial Notes.
: BY CHAS. r. SHAEFFER.

a small volume of trade was attend
ed by stronger quotations on the
Washington Stock Exchange this
morning.
Trading in railway stocks promi
nently mentioned in connection with
probable mergers, in which attention
is naturally centered, was negligible
hallway common alone showing ac-
uvity. This security opened at 163 on
q sale OF 0 shares and picked up an
other half point gain on the following
and concluding sale Of 10 shares. Rail.
way preferred was unchanged, with
30 g bid and s6k asked. while Capital
traction was quoted at 99A bid and
99ss asked.
Riggs National Bank held to its re.
Gently established high level of 4IO on
sales of IS shares An analysis of this
institutions s position with New York
banks which similarly are leaders in
their respective fields would indicate
the stock is not selling a an exorbi-
tant level.
Washington Gas Light Co stock was
quiet at 6312. but Mergenthaler Limo
type was strong at 1861, although
the initial transaction, involving a
single share, was made at 1879. This
issue is now selling ex dividend.
Bank Drive Successful.
Efforts of the Minnesota State
Banking Department in reducing the
number of State banks by bringing
about amalgamations and refusing
charters to new institutions are ac-
compliShing results.
in the last three months there have
been more than a dozen mergers OF
inconseQuential banks into stronger
institutions. while several applica-
tions for charters have been denied
by reason that additional banking IA
cilities We're not needed in the COM
munities.
Examiners of the department have
been asked to report towns in which
they thought mergers would be ad-
visa BILE, with the result that a total
Of 333 banks were cited in this cate
CORY. The banking department then
addressed letters to these institutions
suggesting mergers, and results thus
far are reported as very encouraging.
Minnesota is represented as being
heavily overba nked. According 70
recent sta tistfcs. It had one bauk 70
every 1900 inhabitants, as against a
national ratio of one institution 10
each $500 inhabitants. In some
States the ratio is as high as l to
each 800.
Soft Coal Mining Rushed.
Mining of bituminous coal continued
at a heavy rate during the week end
ed September 10, the Bureau of Coal
Economics announces. Total output
for that week, estimated from pre-
liminary data, is given at 100000
net tons. This total is over 100000
tons greater than that for the pre-
vious week, when production was cur
tailed because OF the Labor day holi-
day.
The report of the Bureau of Mines
showed total output for the week
ended September 5. as 1926, 600 and
for the week ended September Il.
9,993 900 net tons.
Bank Now i'm New Home.
The Fauquier National Bank of
Warrenton, Va, moved into it's hand
some new home, erected at cost OF
SIPS 900, yesterday. A touch OF local
color was added to the reception ten
dered last night by the presence of
Walter J. Harrison and F. II. Cox, as
sistant cashiers of the Commercial
National Bank.
Dividends Declared.
Directors Of the United States Saw
ings Bank have declared the regular
quarterly dividend of 712 per cent,
payable on September 80, to stock
holders Of record September 20.
Convention Call Issued.
In call to the membership to at
tend the annual convention OF the
American Bankers Association, TO be
held in Atlantic City the latter part
of this month. President Knox says:
When a business celebrates its
growth from resources Of $1,000 900
600 to over $50 600 .009. 600 in 90 years
aF y
significance in American history. This
years convention of your association
at Atlantic City will constitute just
such an event. The American Bank
ers' Association was organized in 1919.
when there were about 1000 banks in
the country, with aggregate capital
and surplus of $3.50, 100000 and de
posits below s2.000.000, 600. Today
there are about 10000 banks, with
deposits above S50,000,000, 900. More
than $4,000 of these banks are men,
bers Of your association.
THE convention signalling the half
century mark Will be made the occa-
sion for reviewing the progress of
banking and the services il has rem
dered the people of the United States.
A practical token of this will be given
the public in the form OF a proposed
6uuCduOIdl lOuDidllOll " HldllldAli
college scholarships in economics and
to promote economic research. Bank
ing serves itself best by serving 9TH
ers and the more economic-nlinded it
helps our people to become the flrmer
| will it build the foundations of its own
prosperity.
Another great opportunity will pre-
sent itself at this convention for or
ganized banking to render significant
public service. The present period is
particularly opportune to support the
administration in its economic pro-
gram
Slump in Revenue Freight.
Loadings of revenue freight for the
week end of September 12 totaled 975.-
434 cars, decrease of 1852 under
the week previous, due to the Labor
day observance, the American Rail
way Association announced today.
Coal loadings were placed at 157,357
cars. decrease Of 20,S61 under the
week before and 1920 under the same
week last year. Miscellaneous freight
totaled 376.151, drop Of 4S,909; mer.
chandise and less than carload lots.
238. .035, a decrease of 3o,957, and grain
products, 1880, loss of 11,o41, and
live stock, 2S,687, a drop of 8,525 cars.