Evening star., 1925-05-12
RAILWAY COMMON
IN VIOLENT MOVE
Advances 8 IL Points to 116
on Sales of 937 Shares.
Traction Is Off.
BY CHAS. p. SHAEFFER.

| ID SDEtS. Z. SEAEF Elk,
| Common stock of the Washington
hallway and Electric Co. unleashed
| all its restraints in today's session on
! the local stock exchange, eliminating
in an exchange of 937 shares at a net
| advance of 612 points on the day, to
! 10. Today'S recor marks the most
violent move of unexpected proper
1 tions since listing of the issue
| Ihe security was quiet at the open
| ing, sales of II shares being made at
ITO, followed by sales of 115 shares at
quarter higher The upturn at this
/ point gained momentum, with the re-
! suit that the next sale. of 200 shares,
| was made at 112, followed in rapid
succession by 10 shares at 112h and
| by 500 shares at us. After call an
additional sale of 100 shares was made
at 116.
| Interested brokers disclaim knowl-
j edge of any significance in todav's
market moves, attributing them only
10 the laws of supply and demand. Out
| sue OF market circles, however, some
| significance is attached to the move
ment in view of the fact that Capital
Traction, the other main vehicle
| mixed with rumors of a merger of
| transportation facilities here was
marked down from 971s, its initial
level today, to 955s on sales of 3Os
shares. This converse movement hints
strongly of accumulation attempts, it
| is claimed.
Little interest was attached to the
remainder of the market. American
security and Trust Co. sold upwarl
| 10 32712, with National Capital Raui
strong at 220. National Mortgage, and
investment preferred strengthened to
"a on sales of 80 shares, and Real
Estate Title Insurance brought 147Ia.
Gas Light stock was unchanged at
5614.
Land Bank Resources.
Iotal resources of the Potomac
JOINT Stock Land Bank amounted to
S3,o66,1O1 on April 80. George A
harris, president of the institution.
told stockholders in a statement is
sued today. The surplus account of
the bank amounts TO $4,000. with un-
distributed profits of So. 400.
The statemen tlists S2,S51.2T5 of
net mortgage loans and S617, ,2S1 of
United States Government bonds
Deposits with banks total S34.O63
with accounts receivable of s3499
! Payments in course of collection ap-
proximate S5,576. while there is
slightly more than S51 900 accrued
interest on mortgages and on Govern
| ment bonds.
The Potomac Joint Stock Land
Bank has capital of approximately
! So, ,472 900, consisting of So 3222 500 of
farm loan bonds and $3.50 900 of CAPT
tai stock.
Crooks Get S250,OGO,0 900.
Local business men, bankers and
! credit men have been supplied by the
! American Institute of Accountants
with a letter bulletin on Credit
! Frauds describing the methods of
| credit criminals and business crooks
| in fleeing Americans out of $3.50
| 100000 yearly.
The accountants describe the large
annual loss chargeable to credit frauds
| as IAN unnecessary economic burden" ?"
1t amounts to about S1S.15 a family,
| based on the estimate of $500. .00G, 900 a
! year of credit losses. made by the
credit men themselves.
Three stages in the progression of
credit frauds are deScribed-the mis-
representation by which credit is OBJ
.2ired, the diversion of assets, and II
nally bankruptcy.
Chief Methods Used.
False statements of facts and condi-
tions, especially financial facts. are the
form that accountants find misrepre-
sentation usually takes. They warn
| business men to be on the lookout
against forged certificates of account
ants: financial statement certified by
persons having no standing as ac-
countants. or who may be working in
colluSion with credit criminals: mis-
statements of volume of business i'm
medately in sight: negotiable instru-
ments that are forged. altered or bor
| rowed: persons maSquerading under
the names of responsible individuals:
,,f ha f
more asset items; understatement or
omission of one or more of the class
es of liabilities: submission of incor
rect figures as to net profits or as to
sales, expenses or other profit and loss
elements, and those who build a line
of credit for the deliberate purpose of
obtaining further credit for fraudulent
purposes.
Joins Local Bank staff.
Ben G. Davis, disbursing officer of
the American embassy at Havana, has
resigned to become assistant cashier
of the Takoma Park Bank. He is
now en- route from Cuba and will
lassume his new position on May Is.
Mr.. Davis for a number of years
was connected with the War DeDart-
ment. Later he served as chief clerk
of the State Department until June
II. last, when he was given the Ha-
vana assignment.
! Banking Students Examined.
Study courses of the local chapter
American Institute of Banking, were
terminated last night with an exam
ination in the negotiable instruments
class
On Thursday night the annual cleo
ton will be held, the polls being. open
from to pm, while at $50 the
election results will be made known
In the interim the Riggs Bank Club
Minstrels will entertain.
New Banks Staff Increased.
Armando di Girolamo has been add
ed to the official staff of the New Cen
trail Savings Bank.
The official opening will be held on
Friday of this week, the public and
the local banking fraternity being cor
daily invited to attend.
Bond Interest Due Friday
The United States Government will
be called upon to disburse approxi-
mately S66. 100000 in interest on Fri
day, payable on the 4 per cent second
Liberty Loan bonds and on the Az
per cent second Liberty Loan convert
ed bonds.
| SHORT-TERM SECURITIES.
| (Ouotatious furnished by Redmond & Coz