Evening star., 1926-03-20
LINOTYPE SHARES
GAIN FULL POINT
MergenthaIer Issue Active on
Local Exchange-Trad-
ing Brisk.
BY EDWARD c. STONE.

turo OF trading on the Washington
Stock Exchange TO-DAY. the stock
climbing full point over the last sale
recorded on Thursday. One hundred
and thirty shares changed hands on
eight different transactions. The stock
opened at 2087s, an advance of an
eighth over Thursdays close. Ninety
shares were then sold in three sepa-
rate deals at 209. The next sale was a
l0-Share lot at 209 a Ten shares after
ward came out at 209%. and the stock
closed with the sale of two 10-share
lots at the high for the day of 209l2.
LanStOn MOnotype also was out TO
Gay, opening at 81 and closing at S41s
There was one sale of 20 shares of
Merchants Transfer and Storage pre-
ferred at 101. The only other stock
transactions were in Potomac Electric
Power preferred. which opened at 101.
dropped to 1868 and closed at 1861.
In the bond division one sale of Cap
ital Traction 5s was registered at $685.
Potomac Electric consolidated 5s sold
at 100, while Washington Gas Light 6s
wound up the week at 103A.
Other business kept John l.. Ed
wards, president, away from the eX-
change today. Richard L. Claughtou.
the vice president, was also una bl"
to be present. Albion X. Paris, one
of the founders. or Crane, Paris u
Co, was paid the honor of bein9
asked to preside and took the sea
on the rOStrum.
New Bank Stock Is Allotted.
In connection with the increase in
capital stock of the District National
Bank, Robert y. Harper the presi
dent, announced today that all of thu
stock has been allotted and allotment
notices have been sent to subscribers
no RI of bo HI iah la
to non-stockholders was doubly over
subscribed Mr. Harper stated.
The new stock will be delivered on
and after April ]. This bank now
has $1,00O.OOO in capital and surplus
and undivided profits approximate
5000 900.
Banker Explains Use Of Checks.
In an address over the radio las
evening Francis G.. Addison, pres
dent of the District Bankers Associa
tion, pictured the splendid service b.
banks in furnishing money and credit
for commerce and industry. which is
absolutely essential 10 the life and
trade of the Nation. His subject was
What We Use for Money" and his
address was the third in a series given
by the local chapter of the American
Institute of Banking in it's specia
educational campaign. Mr. Addison
stressed the great value in using
checks in the place of gold or silver
coins or bills in case they have to be
! sent through the mails. He said. in
part
"Ninetyfve per cent. or more than
nine-tenths of all the business and
| personal bills of the Nation. are paid
by checks. Two great reasons for
this are safety and convenience. y
Y lC,. IL &c III
| TO thief. You can write check
| for the exact amount of Your bill
/ drop it in the mail and that IS all
there is TO 1t. Suppose you had 70
! stuff Your pockets with bills and go
down town in person to every store
and individual YOU owed and square
up with the cash. Or suppose YOU
had to ship the actual cash TO some
firm on the Pacific Coast.
10000 Handled i'm Day.
Did YOU ever stop to think how
much work bank clerks have 10 d"
| in handling Your checks? Some banks
| handle as high as 10000 or 10000
| checks a day. Suppose a man IN
! Hollywood. Calf. receives check
! from d man in Albany drawn on an
Albany bank. The man deposits the
check in Hollywood. The Hollywood
bank sends it to San Francisco: the
bank there sends il to New York: the
| New York bank sends it to ALBANY
| where the bank there charges il to
| the account of the man who wrote II
| The check has gone twice across the
country before the transaction T.
closed. and this is just what happens
| in millions of cases all the time.
| THE check is also an instrument of
! credit. The department store takes
4
bank will pay it. provided you have
sufflcient funds on your account. 4
| manufacturer sells a big order Of
| shoes to a. retailer. While awaiting
! pay he can borrow money from the
banks so he can so on making shoes
| Foreign trade is conducted through
| letters of credit. which are handled
! through the banks
! In the very nature of his business
| the banker keeps in very close touch
| with trade. He has an insight into
| general business that would be diff
| cult TO obtain outside of the profeS
| sion. That is why the bankers adj
| vice is asked on practically every i'm
| portant transaction. The bank is the
| worlds central exchange office AMI
| furnishes the financial machinery b.
which business is carried on all over
| the civilized world. No wonder pee
| their bankers than they ever have I'm
! the past
First Dividend Declared.
| The first dividend on Merchants
| Transfer & Storage Co. per cent
cumulative preferred stock was de,
| clared by the board yesterday. pay
able April to shareholders of record
| at close of business March 90. ac-
i n q I,, Tol, 7
| Newbold. president of the COMPANY
| The books will be closed from March
| 90 through the 31st.
The dividend covers the twomonth
period from February /, the date the
! stock was issued. to April !. The
other regular quarterly dividends of
$1.15 will be paid in July. October and
January.
Banker Observes Birthday.
Christian ]. Gockeler, vice president
of. the District National Bank. gave all
informal dinner to a number of friends
at the National Press Club last eve
ming on the occasion of his fiftieth
| birthday.
He received many fluctuations from
other bankers during the day, and
from officers and members of the
| Washington Stock Exchange. Nj.
Gockeler is one of the most active
| members of the exchange, and has Il
host of friends throughout the local
| financial district who wish him 81
more years of happiness and pros
perity and then some.
Freight Traffic Gaining.
The car service division of the
| American Railway Association in Il
report submitted today estimated that
loading of revenue freight for the
| first four months in 1926 would total
| 16, ,555 ,576 cars.
According to this estimate. which is