Evening star., 1925-05-05
POPULAR ISSUES
At HIGH LEVELS
Lanston Moves Upward to
80 on Restricted Selling.
Other Notes.
BY CHAS. p. SHAEFFER.

Popular local issues sold at strong
levels on the Washington Stock Ex-
change today.
Lanston Monotype stock was the
brightest feature of the days trade,
advancing to 83 by fractional jumps
on sales Of 40 shares. Capital Trac-
ton was strong, rising to 931k on
sales of A shares, and Railway com
mon sold to the extent of five shares
at its highest figure, 10912. Railway
preferred, which has been conspicuous
in recent trading, eased off fraction
ally to 837s on sales of go shares.
Washington Gas Light stock brought
81 and Riggs National Bank was off
slightly to 339b.
There was little of interest on the
investment side of the market Gas
IS of 1888 sold at l034s for the large
denominations, the small bonds bring
ing 1925. Railway general and re-
funding 6s sold at 1917 and Capital
Traction SIS changed hands at 97A.
Office Opened in Capital.
The Sessions Loan and Trust Co.
has made its advent locally with an
Office on the second floor of I'LL Con-
necticut avenue, in charge Of Anthony
B. Fennell
The company, whose home Office Is
in Marietta, Ga, specializes in first
mortgages on improved and income
producing real estate. Moultrie NJ.
Sessions is head of the organization.
Lauds Clearing House Plan.
The clearing house examiner sys-
tenn was recently described as one
of the greatest safeguards ever
thrown around banking in any city"
by Don A. Mullen, secretary of the
clearing house section of the Amer
Aoo De-, L., -
meeting of group 2, New York
State Bankers Association, at Roch-
ester about the spread of the clear
ing system in the United States.
Since the inception of this sys-
tenn of examination in Chicago, 16
years ago, no depositor has ever lost
penny through the failure of
clearing house bank in any one of
the 81 cities in which it has been put
in operation" Mr.. Mullen declared.
1T has won the commendation of
every banker where 1t has been in
stalled.
THE chief duty of the clearing
house examiner is TO visit all mem
bers of the clearing house associa-
ton he represent was often as neces-
sary, in order to know that each
member is in an absolutely solvent
condition. The primary object is to
| place banking upon a higher plane
| and a safer basis, eliminating the pos
sibilities of insolvency and strengthen
| ing the financial structure Of this
| country. There is no system of ex-
animation that has such a valuable
influence in keeping the member
| banks in good condition. Through
the advice and guidance of the clear
! ing house examiner many bad situa-
tons which would have developed into
| S1yJ1
| worked out.
| Banks are protected from custom
ers overwhelming themselves through
duplicate borrowing because the clear
ing house examiner, through the bu-
reau Of credits, which he operates in
connection with his department, has
a record of every sizable loan"
Railroad Rates Protested.
| A protest against the general level
| of railroad rates in Idaho was filed
with the Interstate Commerce Com
mission today by Senator Gooding of
| that State.
| The commission, which now has
pending under the Hoch-Smith resoIu-
ton, general investigation into the
freight rate structure, was asked to
give special attention to the Idaho
situation.
The State of Idaho has been made
the victim of railroad rates that are
unreasonable. unjustly discriminatory
and unduly preferential of other local
tiles" Senator Gooding's letter said.
Idaho has been my home for A years
and I have never seen conditions so
serious as at present. The rates are
higher on a mileage basis than those
maintained in any other agricultural
State in the Union"
Specifying in more detail the condi.
tions against which he complained,
Senator Gooding said that Idaho pro-
ducers had to pay identical rates in
reaching consuming markets with
those paid by competing producers
who were given a much longer haul
on their goods, while Idaho consumers
had to pay rates on their purchases
which were identical with those paid
by consumers in other territory who
received much longer hauls for their
freight bills.