Evening star., 1938-09-16
Telephone totals for the first eight
months of 1887 and 1888 follow:

1887: 1885.
January - .l5,137 22S.OOS
February --- 216.915 22s.93O
March --- 1881 22qSQ1
April " 21a3Sa o3O,SS4
June ys --------------- 2s"S..oos!s 5sil::ssssI
July ----- 22O.O69 23l .43O
AUGUST ------- 220,333 232 .293
The average of originating calls per
day during August reached $40 $40,
which showed the usual seasonal de-
cline from 1885, ,45l recorded in July
this year, but was the highest for any
August on record. 1t compared with
August averages in other years as fol-
lows: 509,944 in 1929, 5l5,227 in 1880,
$3.50 in 1881. 600, ,644 in 1882. 602,856
in 1888. 6l5,227 in 1884, 7O3.454 in
1885, 736,3l4 in 1886 and 1880 in
1887.
Bank Meeting Called.
The regular fall meeting of the Dis
trict of Columbia Bankers Association
will take place in the board room of
the American Security g. Trust Co.
on Monday. October II, at pm.
DR.. E. A. Kincaid. consulting econ
omist of the Federal Reserve Bank Of
Richmond. will be the principal
speaker. The subject of his address
will be announced later
There will be several matters of i'm
portance discussed at this meeting
President Hilleary G. Hoskinson OF
the Bankers Association will preside.
Bond Suit Is Filed.
Filing of suit in District Court
y.%> ;,, IF hnl nf
City & Suburban Railway lst mort
gage per cent bonds of 1948 against
the Capital Transit Co.. Washington
Railway Il Electric and the Baltimore
National Bank trustee for the bonds,
stirred interest in the financial dis
trict.
The suit asks the creation of con-
structive trust for the benefit of the
holders Except for a few details it
comedies with the suit filed in July
against the same companies by holders
of the Anacostia g. Potomac River
Railway first mortgage S per cent
bonds of l949 Frost, Myers and Towers
and Attorney Herbert M. Osborn are
representing both bond groups,
In both suits it is contended that
merger of the two properties into the
transit system has left the bond
holders without protection. Although
answer to the Anacostia g. Potomac
suit has been delayed during the
summer months, the bonds have scored
sharp gains on the Washington Stock
Exchange, with the last sale closed
at 80, compared with the years low
of ST. AS it has been generally known
a similar situation exists in the City
& Suburban bonds that issue also has
edged higher, the last sale being at
78, compared with years low of S.
At the first of this year s2,o97,0
Of the Anacostia & Potomac bonds
were outstanding, while sl,342,0 900 of
the City e. Suburban bonds were out
standing.
Extra Dividend Voted.
At a meeting here late. yesterday,
directors of Seaboard Finance Corp.
declared an extra dividend of cents
a share on the common stock in addi-
tion to the regular payment of IS
cents a share on the common and the
regular dividend of so cents a share
on the preferred
The dividends are payable Septem-
Der 80 to stockholders of record Sep.
tember IS. according to the announce
ment from Scott B. Appleby, president
Of the company.
The company. with headquarters in
the Capital, operates in a number of
Southern States. 1t has five oflces
in Virginia, four in Tennessee, three
in Georgia and one in Maryland at
Baltimore. Its stock is widely held in
Washington.
Mergenthaler Is Active.
Mergenthaler Linotype was active on
the Washington Stock Exchange this
morning at "a, down point from the
last previous sale. The years high is
267s. Five transactions, involving 10,
10, S, 100 and shares, were recorded
after the call. Anacostia g. Potomac
SIS moved at 80. unchanged from the
years high. on 81 900 transaction.
Before the call 10 shares of WASH
angton Gas Light Co. preferred were
quoted at 100, unchanged from the last
previous sale and comparing with a
years high of l0O1a.
1t has been some time since a sale
of Washington Railway g. Electric
common appeared on the exchange,
but a 10-share deal was reported
closed of the market this week at
625, compared with the recent bid
Of 62o with $50 asked.
Bank Extra Is Declared.
Directors of National Metropolitan
Bank have declared an extra dividend
Of 6 per cent on the capital stock,
payable December 81, 1898. Books
for the transfer Of stock will be
closed from December II to 80, both
dates inclusive.
The board also declared the regular
semi-annual dividend of per cent,
payable October Is. Books for the
transfer of stock will be closed from
October S to October II, both dates
inclusive
The S25,0O0,00O, 15-year, 8 per cent
debentures of the Atlantic Refining
Co., offered yesterday by a syndicate
headed by Smith, Barney g. Co., were
heavily over-Subscribed. Compared
with an offering price Of 80, the price
Of the debentures late yesterday was
e9as bid and 99a4 asked.
In view Of the nervousness of the
general market, the offering made
remarkable record and again points
to the strong investment demand for
higher-grade obligations.
The Washington Clearing House re-
ports clearings Of $2l ,65l, ,121.56 for
the week ended Wednesday, which
compares with $23, 29,65297 for the
corresponding week year ago, a de-
crease Of 81 per cent Compared with
a total of $18,747,l5690 for the pre-
vioM week clearings increased 1874 per