Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-23

uOCaDV lie
year. Naturally such cut in the divi.
dend from per cent to per cent
when aided by the adverse work of the
door-to-door statesmen referred to last
week, caused decline in the stock.
A short study Of the table, Wash.
ington Stock Exchange for the year
1880, will readily show the wisdom OF
local interests and local people making
conservative selections from this list
where speculation never runs rampant
where brokers worry neither the Fed
eral Reserve Board nor the dignitaries
Of Congress.
Naturally when there has been such
a smash-up as Wall Street has ex-
perienced during the past year, with
investors and spectators working over
time to save something, with general
unemployment and poor business, prac
tically all stocks and bonds have Sus-
tanned losses but not the awful doses
that have been met and taken on &C
count Of trades on Wall Street.
Our bank stocks have suffered more
than any other group of locals and for
that situation there Is offered the fact
that these shares are generally held
too high, and for the last two years
have been quoted on prospects and in
duenced by special reasons rather than
on their capability as dividend earners.
And the very rich call money market
in New York aided in inspiring these
high figures. Money has remained idle
in vaults too much Of the time It Is
likely that there will be q clipping of
OF extra dividends with the January
distributions.
Capital Traction at its present price
around so pays larger dividend than
when the distribution was Z per cent,
as 1t Is selling on an per cent basis.
It's sister stock, Railway preferred, has
not varied but fraction, holding close
to par right along. paying per cent.
as 1t has since the original date of
issue. Washington Gas is another
steady dividend Garner and payer, W. h
future under what gives evidence of
being an aggressive, energetic manage
ment.
Average so Point Drop.
On tie average, bank shares in this
city have reacted in the last fourteen
months some so points, but in the same
period the shares Of banks and trust
companies in New York City have split
wide open and, with the exception of
the First National and one or two
others, have dropped hundreds Of
points.
Bankers all over the country-that is,
the conservative managers-are carry
ing large reserves against deposits, par
TALLY because they cannot place safe
and paying-rate loans in sufficient VOL
ume and also for the reason that the
lack Of confidence and unrest at the
present time demands careful prepara-
ton for eventualities
Seeds Of the Florida bank failure
fever have been blown all over the
States, and just at present an epidemic
of the disease Is rampant In Kentucky,
with symptoms in other sections. Like
wise, the cyclone is no longer an exclu-
sive product Of Florida, but bloweth
whittier 1t hsteth."
The flve-day law may save some Of
the Kentucky institutions, just as the
four-year frozen assets law has saved
many banks in Florida. 81
A Strong Bank. w..
George o. Watson contributes a state
ment from the First Security Bank of
st. Petersburg, Fla, showing that it
had on November of this year deposits
of $900, 900 and cash and due from re-
serve banks 100000, with the COM
ment, This Is some conservative bank,
but 1t Is necessary these days"
All the leading institutions in Miami
and. other sections Of Florida carry
quick assets almost equal and in some
cases in excess of deposits. Their Of
ficials may not satisfy shareholders, but
they at least viii sleep well nights for
the preparation. ''''' :
Savings Deposits Continue TO GAIN. :.
Deposits in savings banks continue to
increase and the next tabulation of the
entire country will show it. This despite
unemployment, hard times, etc. A rea-
son Is found In the temporary enbloy-
ment Of large sums for the savings In
terest while waiting for the "end d the
slump IN stocks"
The uncertainty. attending III othet