Evening star., 1943-12-13
Capital Bank Stocks
To Close 1943 Near
Tops for Year
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Washington bank stocks are end
ing 1s43 at practically their best
prices for the year, survey shows,
and many other issues listed on the
washington Stock Exchange hold
the same status. The same Is true
of bonds.
Riggs National Bank common, at
Sol1a, is at the years top, as is the
preferred at l0"T. Other tops are
found in National Bank Of Washing
ton, at 100ls; American Security &
Trust, at $50; National Savings &
Trust, 205; Washington Loan
& Trust, 230; Bank of Bethesda, 80,
and Prince Georges Bank 81 Trust
Co., 23l2.
Without recent sales, bids for
other bank shares, such as Liberty
National, National Capital Bank
and Bank of Commerce a. Savings,
are also around the years peak. The
same is true of about 10 Washing
ton bank stocks which are sold over
the counter and not listed on the
exchange.
Satisfactory earnings, regular and
extra dividends, investment de-
mand aud good prospects for 1914
are given by officials as among the
most important reasons for the pres
ent strength in these issues.
Paper Dollar Drive Grows.
Montana, which has been using
more silver dollars than any other
State in the Union, is rapidly ex-
changing "foldin' money" for the
traditional cartWheels, according
to word received by Raymond G..
Marx, controller of the Riggs Ma
tional Bank, who lived out there
years ago.
People in Montana much prefer
silver to paper money. Don't feel
right without Is or 20 silver dollars
in their pockets all the time. The
banks. however, had to call for a
shift to paper money, as the silver
is too heavy for women clerks to
handle.
Silver dollars are passed around in
financial circles in sacks of 1000
each. Each bag weighs IS pounds
Most of the men in the banks have
gone to war and the women just
haven't the strength to wrestle
those sacks around"
The Federal Reserve Bank advo-
Gated the change. and there is
already lessened demand for silver
dollars. AS Mr.. Marx humorously
suggested, it is probably the first
-t;ale III history that women ever had
trouble handling money.
Trust Program Announced.
Many Washington financiers are
planning to attend the annual con-
ference of the Trust Division of the
American Bankers Association, in
New York, February 8, 9 and TO-.
Much OF the program will be
keyed to postwar thinking, it was
announced today, major part to
investments, taxes, operations and
new business.
Speakers will include A. L. M.
Virgins, president of the ABA: Jo-
seph Henderson, president, Ameri-
can Bar Association; Elmo Roper,
market analyst, Austin w. Scott,
Harvard Law School. and others.
Interest Payment Declared.
Directors of Washington Proper
ties, Inc, have declared interest for
the fiscal period ended October 81
at the rate of 54 per cent on the
S6,803, 900 principal amount of the
company's general mortgage income
bonds, Humphrey Lloyd, secretary,
announced today.
Interest checks will be mailed on
February by the Cenetral Bank
e. Trust Co. of New York, paying
agent, to the bondholders of record
at the close of business January
20. the announcement said.
These bonds are now quoted in
the over-the- counter list of Capital
securities at 80 bid and 93'. asked.
Treasury Bonds Called.
The Federal Reserve Bank of
Richmond notified all Washington
banks today that all outstanding 81.
per cent Treasury bonds of 1944-6,
dated April 16 1884, have been called
for redemption on April Is, 1914, Oh
which date interest on the bonds
will cease.
There are about sl,5l9.000,000 of
these bonds now outstanding Hold
ers will be offered the privilege of
exchanging all or part of the bonds
for other Government issues. notice
to be given later.
It was announced today that more
than 100 members of the Society of
Appraisers have arranged to attend
the annual meeting at the May
flower Hotel tomorrow evening. Din
ner will precede the election
Ration Tokens in Production.
Ration tokens will go into use in
Washington banks and elsewhere on
February 27, according to present
plans of the Office of Price Admin
istration. The tokens are already in
production, an order for 100000
having been increased to 2OOO.-
100000.
The size of the token has been
reduced. In will be smaller than
dime instead of the size of a quarter
as first planned The tokens are
expected to be much easier to handle
than the present coupons.
Dividend List Expanding.
Seven issues listed on the Wash
ington Stock Exchange are to pay
dividends in the near future. They
include Capital Transit, Amer
ican Telephone. Carpet Corp, Mer-
genthaler Linotype, National Mort
gage & Investment preferred,
Peoples Drug Stores Common and
Real Estate Mortgage g. Guaranty
preferred. Many other issues have
lust paid their fourth quarter divi-
dends.