Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-12-21
PRICES HOLD FIRM IN ACTIVE
SESSION ON LOCAL EXCHANGE
National Mortgage and Investment Pre-
ferred Leads Trading-Public Utilities
Are Dealt In More Heavily.


the institution has enjoyed very
year being especially eventful. as the
banking quarters are being complete
ly rejuvenated and enlarged
Press Club Offers Stock.
The National Press Building Cor
poration is offering $4,000 shares of
cumulative preferred stock on the new
office, store and theater building now
being erected at Fourteenth and F
streets. AS previously noted, the
building is to be IA stories In height
The theater auditorium has already
been leased for 35 years to the Fox
Film Corporation. The stock now
being marketed is to be sold at 500
per share. John Hays Hammond is
president of the corporation and John
Joy Edison, treasurer. Headquarters
ire in the Westory Building, where
the officials will be glad to answer all
questions pertaining to the issue.
Bonds Also Offered Locally.
The Washington Consolidated Title
Co. is Offering $650,000 25-year 6 per
cent collateral gold bonds to local in
vestors. These bonds are priced al
100 and accrued interest. The issue
IS being handled by Gillet & Co., bank
ers, with Offices at 1912 X street. II
is announced that application will be
made later to list the bonds on the
Washington Stock Exchange. The
American Security and Trust Co. is
to act as trustee.
Reserve Bank System Explained.
For the information of bankers
business men and the public gener
ally the Federal Reserve Bank OF
Richmond has just issued a publica
ton entitled Questions and Answers
on the Federal Reserve System" This
is a revised edition of a similar pub
LEGATION issued in July, 1920, and is
nearly twice the size of the former
volume. 1t answers the practica
questions most frequently asked BY
bankers and other business men in
terested in the functions and activi
ties OF the Federal Reserve banks.
Christmas Trade at Height.
New York reports a Christmas buy
ing torrent that is breaking all holi.
day retail sales records. Talks with
merchants and bankers in WASHINGTON
indicate that the same is true in the
National Capital, although some deal
ers say trade is not quite up to last
year. AT any rate, the peak of Christ
mas trade is being reached right now
the stores are TANNED to the doors
with merry shoppers and sales are
being made Just as fast as the clerks
can wait upon the customers. Observa
ton shows that the Christmas throngs
are not only looking at the attractive
displays of goods, but that this mer.
chandise is being taken home in ruge
quantities.
Financial District Notes.
The Commercial National News for
december has made it's appearance
and is filled with notes of special in.
terest to the banks employees. II
contains picture of President r
Golden Donaldson, who recently OBJ
served his f1ftieth birthday, as well as
many timely departmental notes.
The December issue of the Ameri
can Security and Trust Co.'s monthly
bulletin is also off the press. The
publication contains a tribute to
Frederick U. Hanks. It also has a
review of the banks 81 years of
service and an article of Appraisal
or Real Estate" by William L. Beale
President Harry ". HAYNES Of the
Farmers and Mechanics Bank has
been made a member of the board of
directors of the adjustment bureau
OF the Credit Mems Association.
Railroads Are Prosperous.
Louisville and Nashville is now
pack on the same dividend basis as
prevailed before payment in May
1923, of a 621a per cent stock divi-
dend. The additional stock issue was
paced on an original per cent an
nual basis, which was increased to 6
per cent in August, 1924.
The Virginian Railway recently de.
clared dividend Of 81 per share on
common, payable on December 81. At
TINS time last year the directors de
clared a dividend of Sc. 1t is now
expected that final earnings for the
year will equal $40 a share on COM
mon, after allowing the full per
cent on the preferred.