Evening star., 1926-04-14
TRADING LNEL|ER
ON EXCHANGE HERE
Price Levels, However, Are
Little Changed-Bankers'
Dinner Monday.

Dinner Monday.
BY EDWARD c. STONE.
Business picked up on the Wash
lngton Stock Exchange today, so far
as the number of different issues
traded in was concerned. Quotations,
however, remained at the levels re-
Gently prevailing. and trading was
ABOUT equally divided between the
STOCK and bond divisions.
Washington Gas 6s opened the bond
transactions at 1033s, dropped off on
the next sale involving only two 500
bonds, and then advanced to 104 at
the close. Washington Railway and
Eiectrlc 4s opened at STA and gained
an eighth of point when $4,000
worth changed hands in four trans
actions at SO fiat. Capital Traction
os came out on one sale at par,
while Washington Gas 5s recorded
sale at 100ss.
Stock of the Capital Traction Co.
opened at 1O4A for l 1O.share lot.
Five more sales followed, involving
a total Of 80 shares. at 104is. the
same figure at which the market
closed yesterday One transfer of 80
shares of Washington Gas Light
stock brought SO, off three-quarters
of point from yesterday. Washing
ton Railway and Electric preferred
registered 9024 on a small opening
sale and then advanced to 81.
Both type stocks were out today,
10 shares of Lanston selling at SO,
while shares of Mergenthaler brought
204. Potomac Electric Power pre-
ferred stood at 1862 on the sale OF
two five-share lots. There was only
one bank stock on the board today.
four shares of American Security and
Trust going at 800. The newly listed
stock of the Title and Investment Co.
of Maryland has yet TO find it's first
buyer.
District Bankers to Meet.
Francis G. Addison, jr. president of
the District Bankers Association. an
nounces that the next meeting of the
association will take place at the
Columbia Country Club in connection
with the annual Spring dinner Mon
day, April 10.
G. III. Pope and Lanier p. McLach-
len, chairman of the dinner commit
tee, have arranged for a golf tourna-
ment to be held in the afternoon he
fore the dinner. Entries may be made
as ldte as pm.
1t is now expected that the attend
ance will be as large rs last year.
Reports Business Good.
Business in general is maintaining
satisfactory levels, justifying a con
trolled rather than a rampant opti-
mism. says j. II. Tregoe, executive
manager of the National Association
of Credit Men. Bank debts outside
of New York, one of the best business
indicators we have, are running high
er than ever before at this season of
the year. Railway shipments of
factory products are of unprecedented
volume and now that the coal strike
is settled there is virtually no serious
unemployment problem in the entire
country"
Building Association Elects.
The Citizens Equitable Building
Association of Georgetown, one of the
Oldest organizations of the kind in the
District. held its annual meeting last
night at 306S NJ street NV. The
were informed that the
condition of the association was pro-
nounced good at the last inspection
by United States Treasury officials.
Officers were elected as follows:
Thomas J. Stanton. president;
Isaac Birch, vice president: Harry
l.. Selby, treasurer. and Rober T..
Mayfield. secretary. The board of
directors includes; James NJ. Burns.
Patrick +. Carr. John Hadley Doyle,
DR.. Robert f. Layton. Isaac 3. Nord-
linger, B. w Murch. ]. Leo KoIb. &.
e. Van Ostrand and Phillip Little.
Federal Reserve Lauded.
The l. Federal reserve districts
are in effect II separate gold stand
ard countries. They are q good eN-
hibition of how the gold standard
works. 1t may be possible in the
future to use a cold-settlement fund
Internationally through the League
Of Nations in much the same way
that the IL reserve banks now use the
fund at Washington
This was the testimony OF Gov.
Strong of the Federal Reserve Bank
of New York, before the House bank
ing and currency committee, which
is considering a bill by Representa-
tive Strong of Blue Rapids. Kans.,
to require the Federal reserve au-
thorities to use all of their powers TO
promote stable general price lever
by preventing any initiation or detia-
tion.
Rapid reduction in the loans of Fed
eral Reserve member banks TO brokers
and dealers i'll securities last month.
and an increased demand for loans To
finance current operations of industry
and trade were reported today by the
Federal Reserve Board. Commercial
loans have increased from the first of
the wear almost to the record level
reached in these transactions last
Fall.
The decline in loans to brokers and
security dealers amounted to about
81 so 900 900 in the first three months
of 1926. a reduction of more than 40
per cent from the increase in this
class of loans last year.
Financial District Notes.
The trustees of the Mutual Invest
ment Fire Insurance Co. have elected
Vincent l.. Toomey as head of the in
stitution.
1t is reported tocay that the Treas
ury is planning to reduce S2.57O.O0O,-
600 Third Liberties outstanding to s..
900 900 900 by July l, 1928. through
fund purchases.
The McCrory Stores Corporation
has declared a dividend of l per cent
in common stock OH the common
stock. to be paid on June l to stock
holders of record on May 10.
Charles u. Boyer, cashier of the
Fedora American National Bank, will
give the final radio talk in the educa-
ton series which has been broadcast
from this city. Mr.. Boyer, who has
been in charge of the series and has
secured all the speakers, will discuss
THE Federal Reserve System"
An amusing incident occurred in
one of the local banks this morning
when a woman tried to cash a check
made out to her husband, but not
indorsed. When told that it must be
indorsed or specially O.K.'d by the
bank on which it was drawn. she
started a long argument and finally
walked out of the bank, using Ian