Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-02-10
BANK STOCKS RISE
SHOWS PROSPERITY
Enhancement of $40 a Share,
on Average, Reflects Sound
Trade Conditions.
BY CHAS. p. SHAEFFER.


One Of the most accurate barome-
ters depressing the state and tend.
encN of trade conditions i'm this CITY
is the market level Of bank and trust
company stocks. governed primarily
bN thelr earnings, as they directly por-
tray the gross results of every infiu-
ence. beneficial or otherwise, which af.
rect IN any way business life in gen
eral.
a review of the last y months ron.
Quoted upon the aforesaid theory.
shows that local business has been
most gratifying. the period under
discussion has been highly eventfuI in
the bank and trust company market.
Securities of these institutions have
enhanced in value. about $40 a share
averaging the price of the largest
Institutions
This enhancement is the primary
result Of several factors. Money.
generally. during the last l. months
mas been low. which would make
me relatively small WELD from bank
investments seem more attra ctive.
again. the huge accumulation Of De
posts in New York deposita ries. ~
sether with the expansion of bus
mess requirements. made II possible
Tor institutions 10 show. in the main.
satisfactory earnings
Also. the profession Of banking is
now being carried on in this civ on
a scale never before attained NAM
nave found il necessary 10 increase
their capitalization. both through
stock dividends and through the Al
lotment of new shares to old stock
holders At attractive prices thus en-.
hancinc heir Yields Extra dividends
are prolfic-and the action of these
stocks in the last month is decided
proof that investors expect the
present satisfactory conditions 10 con
'Inue throughout The year.
Offering Announced Today.
stroud. kurtz & TO-. Inc. are Of
fering s2.000600 of Arizona Edison
Co first mortgage SIS. due 1945. a
91la and interest 10 WELD s.22 per
cent
The Arizona Edison 90. operates
without competition the entire com
mercial electric light and power. "a
and ice business in several cities H.
Arizona. which territory has shove
n normal and steady growth over =
, period Of wears
The board of the Dictaphon. CO.
porarion has declared the rezula-
quarterly dividend of 81 a share on
the preferred stock paya bile March
] 10 Stockholders Of record Fehruar"
20 Checks will he mailed hv The
. Necha mics and Metals NafiOnal
Bank of New York city.
Railroad Makes Record.
The Western MARYLAND Railway 60.
handled The largest amount of freishr
! in the history Of the road during last
/ month. cCliDSing even record hauls
= during the World War period Tho
heavy movements of bituminous coal
; because of the strike in the anthra cite
! fields Is responsible for the record
/ movement.
Record month for loaded cars
! handled in the history Of the railroad
prior To last month Was September
! 1918. when an average per dav of
1886 loaded cars We're moved. Las
/ month an average of 3.1l7 loaded cars
we're moved per day.
New Dodge Sales Method.
Dodge Bros. Inc. is rivisinc ft-
method of selling cars a Detroit dis
patch says: Hereafter ar Dodge cars
will be sold At retail selling points Al
exact list price plus actual freight.
= taN and predetermined handling
charge. To accomplish this change
. the company is paving the freight IN
advance and billing dealers against
(. bill of ladinc for net cost of car plus
freight and tax. This leaves only the
handling charge To be added by the
: dealer
This method varies from tn. new
Hudson mercha ndisinc policy in that
/ Hudson will advertise net retail de.
! llNered prices in each zone whereas
! the Dodge nlan involves following the
/ long established f. O. b. Detroit meth
/ Oh supplemented by system which
/ gives the consumer \ definite figure
! for freight and handling charges
]. {. c. To Reopen Rail Plea.
The Interstate Commerce Commits
sion today agreed to reconsider the
application Of the New York. Pitts
burg and Chicago Railroad for per
mission 10 construct new line across
Pennsylva MIA
Although the commissions decision
on the original applica ton has moi
been announced. the formal proceed
lnss upon il closed some time 60. l..
F. Loree. president of the Delaware
and Hudson and the estate of the
late F.. H. Hartman is in control Of
property assembled in the plan.
Mr.. Loree said the construction
across Pennsylvania would be under
! taken in BRINGING about a new trans
continental s1road running in MARI
I through Eastern trunk line Territory
All of the major Ia stern lines have
opnosed the plan. and the commission
experts recently tentatively reported
| that the cost of the project made y
Undesirable at present to allow the
application.
Tradin. ON Local Board.
Trading on the Washington Stock
/ Exchange today. aside from covering
an unusually wide range. was without
feature
| Railway common was active at 2n6
! loss of 4 points over Yesterdays sell.
| ing. but the preferred issue hettered
! IFS level fractionally to Oils CanitaI
! Traction continued At 107 after a sof,
| openinc. American Security and Trust
| Co. lost point to 399 with Federal.
American unchanged at 400. CONNER.
| cial National Bank continued to rise.
selling today at 260.
Car Loading Increased.
Placing loadinss of freight cars for
| the week ended January 80 at 90. o63
the American Railway Association
said today this represented an increase
, of 1888 over the preceding week and
an increase of 27s95 over the cor
responding week la ST year
Miscellaneous freight loadinss ae
! gregated 1882 cars. a decrease If
! 3.061 under the preceding week: grain
/ and grain products 1912 drop Of
! 501: coal 1901. an advance If 2.lAS:
( mercha ndise and less than carload
! lots 1897. an increase Of ESQ and
! live stock 3l.22s. an increase NJ AS.
GERMAN BONDS AND STOCKS.