Evening star., 1926-05-08


to the board of directors. the other
members being II. G. Barnes. r. !.
Cowie. j. 7. Dickman. Charles +.
Drake, r. Howard Ducketi, Harvey
G. Hayes. +. Brooke Lee, II. G. Mad
dux, G.. Is. Mallory X. &. Marshall, jr;
! ID. RI. Maury, James A. Moss, COur
land Nixon S. 3 Ross, James y.
Ireland, j. NJ. Wheeler, +. +. vii
liams.
Local Market Very Quiet.
Trading on the Washington Stock
Exchange was extremely quiet in the
final session of the week.
But three stocks We're dealt in duI-
ing the session and there was onlV
one transaction in each. No bonds
| appeared.
Ten shares of Merchants Transfer
and Storage preferred sold at par; fi'
shares Of Capital Traction brough'
1884. and a 1O-share lot of Washing
ton Railway and Electric preferred
went az 80.
The week, as whole. was one of
the most active on the local exchang-
in long time.
Bank Clearings Irregular.
There is some little evidence Of ir
| regularity in the report of bank clear
H.,
| cities Of the United States, aggregatp
! s10.453 .216. 900. This is IS per Ger
| less than the amount for wear ago.
| whereas the gain last week was Ill
| per cent.
| New York City clearings this week
! are Sc, 730 900. 900 and show a loss ~
| 6.5 per cent compared with those for
| the corresponding week of 1925. while
! the total for the outside centers
amounts to S3.723.216.000 and SHOW :
/ an expansion of SO per cent.
! Most of the leading cities outside
! New York show gains this week
| among them Boston and Chicago. bu-
/ there are declines at Pittsburgh. Balti
| more. Cleveland, Minneapolis and
| other centers.
District Nationals staff Dimes.
! AS guests of the board of directors
the officers and all employees of the
District National Bank had a dime
last evening at the Cosmos Club which
proved a delightful event. J Miller
Kenyon was tOastmaster and Robert
| y. Harper. the bank s head. made the
/ principal address. About IS guests
were present. Sidney West was chair
man of the dinner committee. Among
! the features of the evening we're a
! recitation by Miss Anna Ravnon and
the reading of an original poem bv
Miss Mary Craven.
In addition to Mr. Harper's speech
Joshua Evans. jr: Fl. L. Offutt. ir
G.. J. GoCkeler and B. J.. Cotton spoke.
Leon s. Clman and John F. Maury
assisted in planning the dinner. The
occasion was partially 10 celebrate
the banks unusually successful year
Reserve Loans Increase.
The Federal Reserve Boards weekly
| condition statement of 106 reporting
member banks in leading cities as
OF April 2S shows an increase Of
$4,000, 900 in loans and discounts
and a decrease of $4,000. .000 in invest
ments. These changes were accom-
| panied by increases of S15.000.oo
in net demand deposits, S9000.000 in
time deposits and $5S.O00.00 in Dor
| rowings from the Federal Reserve
banks.
Market Traders Get Shock.
Visitors for the first time to ;hA
broker Office of John l.. Edwards &
Co. on II street, are given decided
shock as they walk into the board
room to see what the ticker quota
tions are doing. They get the same
shock regardless of whether stocks
are going up or down. The reason
is because the surprise comes from
the clock instead of the tape. All
the clocks in the place are on New
York daylight saving time in ordet
to be on the same schedule with the
i Wall Street markets. That means
they are an hour ahead of Washing
| ton time.
Il had no idea it was getting So
late" says every visitor to himself.
Then he instinctively raches for his
watch 10 see what his timepieCe says
ind by that time happens to thin,
that the bulls and bears have their
own hours for struggling for the mas
terry of the stock market
Record Of Weeks Failures.
Failures this week are fewer Ia
| number than in recent preceding
weeks or than in the correspondents
| week of last year. the total for the
! United States being 403. compariuS
with 493 defaults last week, 474 the
preceding week and with 424 a yea
. ago. A reduction in the number ap
pears for each section this week as
compared with last weeks. which is
| very marked in the South and West.
Views on British Strike.
Moody's Weekly Review says IN
| part:
| lone should not regard the British
| strike as a disaster even to Gres
Britain. 1t promises after a short
! period of disturbance largely to elm
| mate labor troubles, reduce labor
costs per unit of output, increase
/ British competitive ability, and help
| the recovery of British trade.
Our financial markets are not
/ jeopardized. Since 1880 we have had
here six years of great strikes, and
! in three of them there were bull
movements, while the bear move
ments of the other three had but lit
tie to do with the strikes. Meanwhile
British labor officials have made
capital blunder. which should for
| some time destroy their political
powers. and greatly reduce their In
dustrial influence"
Commodity Prices Lower.
| Although somewhat less pro
nounced than for some time past, the
trend of prices in the wholesale COM
modify markets continues toward
generally lower level. SO out of the
! 73 changes that occur this week In
the list of quotations collected by
| Dun's Review being declines against
| 81 advances. In last weeks tabula-
ton there were AZ recessionS and ~
! increases; in a similar comparison
| for the corresponding week q year
ago, SO reductions contrasted with
| % advances.
One modern bulb-makinG he
does the work of 145 glassblowers.