Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-18

OF 1881 were de-
clared in advance, it was stated the
board would review the situation at its
June meeting and determine to what
extent it was proper to supplement those
dividends.
There has been much talk about the
coming meeting on account of the pres
ent earnings situations among the rail-
roads. No official statement, however,
has been forthcoming from the presi-
dent or any one else.
w. B. q A. Bond Deposits.
Nelson, Cook 81 Co. Baltimore bank
erS, make special reference to Washing
ton, Baltimore & Annapolis Railroad
bonds in their weekly letter. The in
vestment house refers to the slow man.
ner in which the receivership events
have been progressing, but looks for
more rapid action by the bondholders
and their Protective Committee in the
near future. A member of the Nelson,
Cook firm has recently become mem
Der Of the committee.
ITO overcome criticism, of which
there has been quite little In regard
10 the possible expense involved" says
the statement, IAN additional provision
has been added to the deposit agree
ment limiting the expense of the holder
10 approximately liz per cent, predi-
Gated upon the number of bonds de-
posted. Accordingly, we now recommend
that holders OF these bonds deposit
them with the Maryland Trust Co.. so
that the committee may greatly increase
the substantial amount Of bonds al
ready deposited"
The committee includes the president
or the Maryland Trust Co. and q rep
resentative of the Cleveland Trust Co,
trustees under the mortgage. The Bal
timore investment house believes that
matters have now been rearrsnged to
the entire satisfaction OF the bond
holders.
Directors Gather Tomorrow.
1t is expected that about 500 dele
gates will attend the National ASsocia-
ticn of Mutual Savings Banks Con-
ference, which opens at the Mayhower
Hotel here Wednesday and remains in
session Thursday and Friday The d.
Tectors of the association will gather
AZ the hotel headquarters tomorrow
and complete all the preliminary plans
The meeting Of the leaders among the
mutual savings banks Of the country is
considered highly important in view Of
the action which may be taken on cur
rent economic problems. The program.
already announced, reveals unusual
strength.
Federal Credit Loans Increase.
Loans and discounts Of the Federal
intermediate Credit Banks increased to
$13S,083,2i0 on March 81. compared
with Sl30010268 on the last day of
1880. 1t is shown by the statement CT
condition issued by Federal Farm Loan
Board.
OF the total loans and discounts dur
ing the last quarter OF 1880, $64 .000.-
900, roughly, was made to co-opera-
tive associations and sos .633,20l to
financing institutions such as live
stock loan companies, agricultural credit
corporations or banks. Respective fig
ures for the first quarter of 1881 were.
in round numbers, s62 900 900 and $75,-
coo 600.
LanstOn Stock Sells Lower.
Lanston Monotype stock sold of in
small lot trading on the Washington
Stock Exchange today. The stock
opened at 95 ex-diyidend and closed at
o2ia on a turnover of 1913 shares.
There was one small sale of Mergen-
thaler Linotype at 1874,
Five shares Of Washington Gas
Light stock sold at lis today, of i
point from the last sale. Riggs
National moved at 375 and American
Security g. Trust at 325. Carpet Corpo-
ration sold at "a and Peoples Drug
stores preferred at 10l, while Potomac
Electric 5i2 per cent preferred came
out at 1897 ex-dividend.
Bond trading was confined 10 Wash
angton Gas issues and Capital Traction
81, with no marked price changes.
u. s. Steel Grips Attention.
United States Steel stock eripped
attention on the local board rooms to-
day when II dropped below par soon
after the opening the flrst time since
1924. 1t naturally cast good deal Of
gloom around the financial district, al
though many bankers and brokers still
say that this is good time for sound
Investment buying. In fact. there is
considerable evidence that there has
heen o good deal Of investment buying
for several weeks.