Evening star., 1921-11-09
LOCAL SECURITIES
MAKE NET GAINS
Potomac Electric Is, Gas
Shares and Mergenthaler
Feature.
BY /. A. ELEMIN G..

Higher prices were again the rule
on the local Stock Exchange today
Potomac Is continued their sensa-
tional advance by adding another
fraction to their gain, selling at 1oS'
with 1929 the bid price at the close.
These bonds have not been issued
as yet, and they have scored ~
points. advance on the sale price anu
promise to find level around pres
ent figures.
Washington Gas 715s sold at 1O3A.
These are s.ort-term notes. while
the Potimac Is run twenty years
and aFsm ResiWss of1oosr As l. siss ss 'S Drought %
In the stock list Railway preferred
was decidedly firm at es TO a Close
at 63la.
Mergenthaler continues to reflect
strength, and on very light busl-
ness sold at 1876 and 126 ".
The most pronounced strength Of
the day was evidenced in the Wash
ington Gas shares which advanced te
SO.
One week from today the annua
meeting of the Mergenthaler Linotype
company will be held in New Yorh
city.
1t is confidently expected that tn.
earnings will be satisfactory from the
Standpoint of dividend fully earned
Some shareholders seem to 1hinl
that there should be a resun ption Of
the former Christmas extra dividend
declaration. but the chances agains
ar extra are great.
These are the days when corpora
fion that is able to maintain it's pre-
war distribution. let alone an extra
IL doing exceptionally well.
Calls for SIG,OOO,OOO,
Secretary Mellon has called upor
the banks holding government credits
from the sale of Treasury certificates
and three-year notes made September
Is to pay into their respective re-
gional reserve banks 20 per cent OF
said fund on Thursday of this week.
Banks have held a large part OF
this fund for nearly two months, and
after this payment is made. calling
for something over $16.O00.0 900, there
will still be about $64.000.00O proceeds
of the sale named to the credit of the
government remaining in the banks
and in addition the entire purchase
price of the s232.00O,O0O of the A and
Az per cent certificates sold on No
vember l.
Evidently conditions are much
easier at the Treasury. and income
and Outgo are more nearly on an even
basis.
The wonderful squirt in bonds
brought about through the reduction
in interest paid by the government or
jts financial operations and the reduc-
tion of the rates of the various fed
eral reserve banks. or, more properly
by the cheapness of money. is being
taken advantage of. by municipalities
and corporations with financing to do
Recent issues of municipal bonds
total S60.000,000. for which there has
been an excellent demand from tina,
large contingent of investors con-
stantly seeking tax-free investments
Recent state issues, which are like
wise taxfree, total about $4,000, 900
Illinois leading with half this amount
of highway bonds.
Interest rate on municipals varied
from per cent to per cent, the out
side for a small Minnesota munici.
pality issuing school bonds, while the
low rate was for Chicago park bonds
West Virginia 31a per cent, sinking
fund bonds. are being distributed at
$3.50 and interest.
The Land Bank of Chicago, and nu-
1nerous corporations. municipalities
and counties are hurrying prepara-
.ttions for the offerings of bonds to
take advantage of the good market