Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-03-03
NEW HIGHS DELUGE
LOCAL EXCHANGE:
Railway Common at 1O4
Leads List in Upward Move.
Other Notes.
BY CHAS. Y. SHAEFEER


Efforts of Washington Stock Ex-
change members to hold the focal
market in restraint until the passing
~ the present Congress proved futile
q gam Today, and another deluge of
new hlGh records was the result
common stock of the Washington
II way q Electric Co. intruded itself
further into virgin territory. 10 shares
seIling at l04. A net gain of a quar-
Ter point was recorded for the day,
as against half a point advance over
the previous high
riggs National Bank stock also
established new peak AZ sbares
selling upward to 3341a. Union Trust
60: stock sold to small amount at
10 ~ and an odd sale of American
security & Trust Co. was recorded
az az. Lanston trading was com
paratiyely heavy, 100 shares chang
ing hands upwards to S15s
washington Gas Stock was strong
err gaining to 5SA on sales of 100
shares, but Capital Traction was
pegsed at 90, although more than ESQ
shares were traded in. National
was unchanged al 93s
On the unlisted department, four
shares of Cha pins Sacks common sold
at 2.
Bankers Choose Hot Springs.
Lack of adequate facilities has
eliminated Asheville. \. C., as a.
choice for the 1925 convention of the
Dlstrlct Bankers Association. AS a
result Hot Springs, Va, Will again
De visited this year, If the recon-
ileHud ions of the administrative
council OF the body are followed
ana 1t is certainty they will be.
HOT Springs, the site on two pre-
Vlous occasions, has always proved
most most popular with the bankers.
Every facility necessary to the com
plete comfort of the BODY Is avail
able, the novelty of a change of
venue being the only reason why a
heretofore unvisited resort was com
templated this year.
me convention will be held June
20 TO 20, both days inclusive the del
egAuon leaving here the night of
June -, entraining upon their return
M vi SUNDAY night June %, arriving in
washington early Monday morning.
Casket Stock still on Market.
interesting reference to Crystal
IIass Casket stock, in which thou
sands of local dollars were lost sew
eldi years ago, is made in the current
bulletin issued monthly BY the Better
Business Bureau According To the
puiletln, james w. Decamp of Crys-
tai Glass Casket fame is apparently
quite a believer in the philosophy OF
one born every minute
IN spite of his conviction in Washing
ton in May. 1924, on charge of con-
splracy to defraud, he is now in Musko
gee, OKLA, as president of the 6onsoli-
udted IlasS Casket Co and circulariz-
ing the stockholders of the 10 separate
glass casket companies. in which az,
enormous amount of stock has already
Deeh sold with no return to stockholders
we are unable 10 determine how ra
munerative to Decamp this latest ven
lure is, but feel confident that few WASP
iistonlans are mailing him a check for.
adoltional stock in response to the let
ters winch they are receiving
Ackerman Raps Tax Measure.
loss of benefit to taxpayers and 4
vast amount of extra bookkeeping hv tho
government with its attendant expense
ere hoteo as drawbacks by Represent
ernest X Alderman of New Jersey
TO the recently introduced tax mo. s,,rc
winch ne classes as "a compromise on
my proposal for straight IS per cent
tax reduction" ~ Neiit
1t Is suggested in the .compromfse,,
that no reduction be made until tbara
IS at least fifty million surpIre i,
the treasury. All over this amourr
Is TO be distributed pro rata among
tnoSe individuals and CORPORATIONS
VINO ME income tax returns or allowed
as crealt on their unpaid install
ments The Representative points oI,t
that such refund would be virtuaIly
impossible in the year in which
taxes are paid. citing that now the
latest completed figures in the de-
partment are for 1922, the returns for
subsequent years not yet being com
piled.
1t would never he possible under
our present system TO determine be
tween March Is. when income returns
are hled, and July !. the beginning of
the fiscal year. how much the excess
would amount to-" the solon said.
consequently, the taxpayers could
not get any refund during that year"
Fewer Business Failures.
Commercial failures in the United
States in February decreased 23.6 per
cent compared with January and Ii
abilities dropned 26.1 per cent, r.
G. Dun & Co reports. The months
defaults totaled 1898 with indebtedness
of s4o12S,017, against 2,317 in Jan
uary and Indebtedness of $54,354,032.
Local Banks Closed Tomorrow.
Banks of deposit in this city will
stand suspended tomorrow, Inaugu-
ration day being a legal holiday in
the District of Columbia, The Wash
ington Stock Exchange likewise will
be closed. The New York Stock Ex-
change, however, will function, as
will the Cotton Market and the Chi
cago Board of Trade. Local branches
of these markets will be open for
business.
Bank Gets Out "Who's Who.-
novel way to acquaint its custom
erS with the officers of the bank has
been conceived by the Federal-Amer-
lean National, which includes with it's
current monthly statement a NINA
ture who's Who" containing the
photographs of every officer in ad-
dition to salient facts about the in