Evening star., 1926-11-19
CAPITAL TRACTION IS LEADER
IN TRADING ON LOCAL BOARD
Federal Co. and Merchants Bank
and Trust Shares Also Are Active,
Latter Scoring Gain.

over 1925 Of SIS, 900 900. or ~ per
cent. The calculations have been
made by III. r.. Rawl1. connected with
q Christmas club corporation, As West
Forty-nfth street, New York.
The same investigator estimates
that something like $17s.421.3S0 of
this amount will find its way into
buying. $l10.146, 400 will be redeposit-
ed in permanent savings and thrift
accounts, S47.1S6,000 will go into in.
surance premiums and mortgage In
terests. a slightly smaller amount for
taxes and something over $lS.o0o.O00
to pay bills maturing during the hOh-
day sea son. The figures. however,
must be considered only as approx
mate.
1t is stated that $500 banks have
now taken hold of the Christmas
club idea, which is said TO have start
ed in very modest way about 16
years ago. Massachusetts has led
all Other States this year in the
amount saved The growth of the
plan has been far beyond expecta-
tfons. The bankers of Washington
are very enthusiastic over the sue
cess attained here and will open q
united campaign in a few days 10
make the 1922 total savings surpass
all previous years.
Roanoke Water Issues Valid.
Washington investors will be inter
ested to learn that the mortgage bonds
of the Roanoke Water Works Co.. va
iidity of which has been attacked. have
been declared valid. and the receiver
ship suit brought by minority stock
holders dismissed by Justice John NJ
Hart at Roanoke, who sustained q
demurrer filed by the company. The
bond issue was placed on the market
about year ago in the amount OF
$3,O00,000. Action against the issue
was brought by minority stockholders
on technical grounds arising from .
clause in an old deed which sought to
restrict the bonding power of the com
pany.
Another Move to Aid Cotton.
AS a contribution toward the Gov
arnment's effort to stabilize business
conditions in the South, which have
been upset by the large cotton crop
the Studebaker Corporation OF Amer
lea announces It will buy bale of cot
ton for every Studebaker car sold in
the cotton belt during November and
December
'Overproduction is curse TO any
industry" President A. r. Erskine
said. so right now the cotton belt
needs buyers for it's surplus cotton
We will pay the market price and will
put our purchases into storage until
Southern conditions adjust themselves
which will be in about six months
Reservations I'm Lively Demand.
Reservations are in lively demand
for the spectacular production of THE
Passing Show of 1926" to be produced
at Polls on Monday, November 20. for
the benefit Of the local chapter A. I. b.
The committee is already talking
about 'sell.out. Reservations may
be secured from Chairman Raymond
Bank or from Harold W. Burnside,
Miss Winifred Burwell r. Jesse
Chaney. b. l.. Cotton, W. w. Lisso.
witz. John VI. DeMarco, John r.
F1etchaN, Robert II. Lacey. Miss
Mabel V. Royce. Alfred w Sherma H.
n. Fl. Darneille Edward C. Steffe and
A. NJ. Schiller. at the banks where
they are employed ..
Publish Book On War Debts.
Harold G. Moulton. director Of the
Institute Of Economics, Jackson place,
and Leo Pasvolsky. q member of the
World War Debt Settlements.
which is just off the press. They have
gathered large amount of informa
ton on all the debt and reparation
settlements since the World War and
also discuss the various issues which
are still pending.
Uniting Of Branch Banks Seen.
The Wall Street journal saws that
the election Of G. c. Young as Cover
nor of California is taken TO mean
that the way has been cleared in the
forthcoming State banking depart
ment for approval of consolidation
plans OF the Bank of Italy which will
unity all branch banking interests of
that institution and its affiliated in
stitutions. The Bank Of Italy has
just opened its ninety eighth Califor-
MIA branch by instituting its fourth
office in Fresno.