Evening star., 1925-02-24
LOCAL SECURITIES
MAKE NEW HIGHS
Merchants Bank and Ball
Club Issues Revise Their
Peak Prices.
BY CHAs. p. sHAEF'FER.

Two new high records were estab-
lished on the Washington Stock Ex-
change this morning in a session con-
spicuous by it's strength. Merchants
Bank and Trust Company sold to the
extent of so shares at 1856, lettering
its best previous mark by points,
while stock of the Washington Base
Ball Club sold at 7412, creating O. new
peak by 2A points. The latter stock
is on the unlisted department of the
local exchange, and its rise is the first
tangible evidence of how traders view
the 1925 aggregation piloted by Stan
ley Harris
Riggs Bank stock was fractionally
short of equaling its highest level,
selling at 33f, while Lanston Mono
type gained almost point over it's
previous sale when five shares were
disposed of at 1914. CaAkkal Traction
and Washington Gas were both
stronger, the former selling upward
to 9212 and the latter to So. Rail
way preferred was unchanged at 81,
and Washington Gas 6s of 1888, the
only active bonds, brought 102.
The asked" price for Potomac
Joint Stock Land Bank 5 per cent
bonds was advanced to 103, as against
101 IBID"
Bankers War on FOrgers.
Inc american Bankers ASSOCid LlDU
is launching a national campaign OF
instruction for bankers and their Gus
toners to thwart the enormous losses
suffered by business and the public
through forgeries. To this end, the
$4,000 members of the association
have been provided with a code of
precautions for themselves and their
depositors, dealing with the use Of
checks and the protection of bank
signatures
William p. Knox, president of tho
national association, holds forgeries
check alterations and the passing of
worthless paper as offenses of oppoT-
tunity arising from incautious prac-
tees of depositors and bank people.
He believes the campaign will go
long way toward eliminating a great
portion of the present opportunity.
James E. Baum, deputy manager
in charge OF the associations protec-
tive committee, estimates that SO per
cent of the $100,00O,000 lost annually
through these channels is borne by
individuals and firms. The willing
ness of hotels and merchants in ac-
cepting mere scraps of paper, relying
on insurance to cover the losses, was
cited as an act of contributory negli-
gence.
Savage Aids Phoenix Boom.
Francis NJ Savage, president of the
Northwest Savings Bank, has allied
himself with a group of western
business men in the improvement of
a business block in Phoenix, Arz.,
on which will be built a modern store
and office building.
Mr.. and Mrs. Savage are Wiltering
at Ingleside Inn, Ariz.
Banks Earn Over 20 Per Cent
Philadelphia State banks and trust
companies earned 1851 per cent on
their consolidated capital of s64,5
172 in 1924, as compared with 2714
per cent the previous year The per
centage earned on the market value
of the institutions securities was
sos per cent.
The Northwestern Trust Co. led the
list with an earning OF 1922 per
cent on their capital
Weeks Study at Institute.
The weeks course of study for the
local chapter, American Institute of
Banking, follows: Tonight the ac-
counting class will meet with Joseph
X. Meyer on Opening and Closing
Corporation Books; tomorrow night
Raymond B. Dickey will discuss
''Consid GRAFTON" with negotiable in
struments class, and on the following
night Eliot III. Thomson will nett
with his advanced class on General
Ledger-Debit Balances" co-incidentl-
ly with the debating class under
Rufus Lusk in the Washington Stock
Exchange rooms. Friday evening
will be divided by r. Gordon Finney
and his credits class on Analysis
of Borrowers Statement" and the
standard economics class under F. ].
Donohue.