Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-13
PRICES ARE FIRM
ON LOCAL BOARD
Three Bank Stocks Included
in Trading-Fifth District
Report-Personal Notes.
By EDWARD c. STONE.

By EDWARD G. STONE.
Two hundred shares OF National
Mortgage and Investment preferred
were traded in on the local Stock Elk
change today, the market opening
with so shares. going at 81 and clos
ing with a similar transaction at S$t
Capital Traction opened at 104S for
@ 10-share lot and closed at 104 on a
40-share transfer. Potomac Electric
preferred was again strong, selling
at 1882, and Washington Railway and
Electric preferred also stood up we'll.
so shares changing hands In four
transactions at 81.
Three bank stocks appeared on the
board during the session, the first be
ing Washington Loan and Trust.
which sold at 4S6, the next, Cont
mental Trust, which registered q 10
share sale at 80, and lastly two shares
of Riggs National. which recorded
45S as today's price. Bond trading
was confined to Potomac first 5s.
which sold at 1908, and Railway and
Electric AZ. which figured in two
sales at S31s.
Discounted Bills Increase.
Bills discounted, both at Richmond
bank and the Federal Reserve sys.
TEN as a whole. increased during the
week ended August II. In the fifth
district the increase amounted To
81, $4,000, the volume of rediscounts
standing at $44 ,666 600 That the In
crease in this district was proportion
ately much greater than that for tn
entire system is Indicated by the fact
that discounts of all II banks al
vanced only 81 1896 900 on a volume
of $549 100000. Paper bought in the
open market at the Richmond bank
varied but slightly during the week.
but the combined statement for the
system shows an increase of $2,47b,-
900.
The Richmond cash ratio stood at
6025, against 61.6l per cent the week
before and that~for the 12 banks com
bned at 1913, compared with 754
per cent.
Country Bank Courses Successful.
During the first year of the exist
ence of the group study plan OF the
educational committee of the Mary
land Bankers Association, by which
instruction in banking is made avail
able to residents of country districts.
Pts pupils have been enrolled In nNe
classes in various parts of the state
These were conducted at FREDERICK
Hagerstown. Cumberland, Havre de
Grace and Salisbury.
Final examinations were taken by
1870 bank employees and off1clals OF
which 100 passed successfully. Three
residents of HagerStOwn bagged the
500 prize for the best grades. Mary
land is a pioneer in this Statewide
method of banking instruction. the
Baltimore institute chapter employing
the instructors at these outside places.
So,,tI,ern'S Earnings Gain.
The Southern Railways preliminary
figures place July gross at approx
mately ST. .90O.O 900, an increase of 6.3
per cent over the ST.. ,032 report
ed a year ago, comparing with 81
$50 PAT in June, 1926, and slightly
exceeding previous record of Sl2,8SO-
800 for July, made i'll 1920.
Railway operating expenses and
taxes are estimated to have consumed
the same proportion OF gross as II!
June, with the result that July net
operating income will be about $4,000
900. comparing with $2,73S.926 last
year, an increase of 1913 per cent,
| S2,1O5.215 in 1924 and $l.09S.S6 in
| July, 1920.
Hotel Stock Put on Market.
| The A. Lincoln Hotels. Inc, 1910
| Vermont avenue, is Offering 1000
shares of per cent cumulative pre-
ferred stock, par 500. and 1000 shares
of common stock, no par value, in
| units of one share of preferred at
| 500 and one share of common as a
| bonus. The statement says that the
new hotel is to be erected at T. and
North Capitol streets and Massa =
chusetts avenue, fronting on the plaza
and only a block from the Union Sta
ton. 1t is to be n 150-room hotel with
1CI htra nd Ill
night drug store.
The directors of the company are
Leslie M. Shaw. former Secretary of
| the Treasury: Representative Edward
| w. POu, Clarence f. Donohoe, preSi
| dent Washington Real Estate Board:
Michael Weller. president Weller Con
struction Co.. and G.. f. Moran, presi-
dent G.. T.. Moran & Co.
Heard i'm Financial District.
Robert V. Fleming, president of
| the Riggs National Bank, expects to
go on his vacation next week, Ocean
| City, n. T.. being one of his chief OBJ
| jectives.
| III. G. Meem. vice president of the
Washington Loan & Trust Co, has
| left the heat of the National CAPITAL
to take his vacation on the New Jer-
! sey coast.
| - d. bOCkeleT, vice president or the
District National Bank. leaves here
tomorrow for Margate City, N. j., to
pass his vacation at his Summer
! home there
w. w. Spaid of w B. Hibbs & Co
is spending few days enjoying the
surf at Atlantic City.
Francis q. Addison. jr. vice presi e.
dent of the Security Savings & com
mercial Bank, has returned TO his
desk from the Oaks, on West River,
where he was with u party of bank
ers.
Robert N. Harper received scores
of congratulations today on his re-
cent success as a fisherman in his
private pond on his estate at Lees
burg, news of his record haul having