Evening star., 1924-05-16
BIG VOLUME OF TRADE.
IN LOCAL UTILITIES
Renewed Activity on D. C. Ex-
change of W. R. & E. Com.
mon Stock.
MERGENTHALER UP A POINT
Bank Issues and Other Securities
Market Features.
BY CHAs. p. sHAEFFER

a heaFy volume of trade in local
unity stocks, led by renewed actiy
lty In the preferred issue of Wash
| inston Railway and Electric con
mon at strong prices, prevailed a.,
the local board this morning. TIL
carrier security sold to an asgregstf
or 2lo shares, including one block 81
a hundred shares, at prices Iuctusr-
ing between 71A to Tx.
Mergenthaler Linotype. after -
more OF less dormant month. scorcd
Iull point rise with sales of Ga
hand, was firm but unchanged at ~
20 shares changing hands Cani+ai
Traction sold off to 93
National Mortgage and Investmen, .
prefe erred, stock leader in activity.
had one sale of 500 shares at s1s a
fractional loss over the previous sale
National Capital Bank was traded in
Tor the first time this year. II shares
changing hands at 227 Commercial
! National was unchanged at 40 and
! Terminal Taxicab Company sold AZ
| par. Washington Gas Light stock
had sales, involving so shares at a.
| The bond side of the market dis
prayed renewed activity, Washington
| Gas 5s selling at 95A, and G (, =
| Telephone 5s at 97A
! AT the regular meeting of the board
| of dire ectors of the National T-nion
| Fire Insurance Company of this civ
| held yesterday, w. T. Galliher was
named vice president, and Holcombe (
| u. Johnson was admitted to the board
| Both were elected to vacancies cre-
| ated by the recent death of Charles
u. Bailey, for many years a yicr
president and director of the com
| pany.
Speaks for L. 9. Constitution.
Compulsory teaching of the Cen.
| stitution in the public schools ami
more adequate Army and Ma
We're advocated by Judge Joseph ;
Lawson Of New York. addressirg -.
Maryland Bankers Association no.
meeting in Atlantic City.
While urging participation cr
| america in another conference for
peace Judge Lawson declared IL.
nation must maintain a sufficien
| force under arms to insure weigh
| for its opinions. He condemned in
| different voters and told the banker
| they should assist in a campaign oty
education that would bring about 3
greater understanding of the respor
| sibilities of citizenship.
Notes on Reserve Bank Ratios.
The federal reserve ratio of tn,
! Richmond Bank declined three-tenths
of point this week. as compared
| with last, and now stands at COS per
| cent the Treasury Department an
nounces. This is gain of Sc pc
cent over the figure reported for IN.
same period of last year
The ratio for the entire system
now S3 per cent. On MAY Is Las.
year il stood at 75.3 per cent.
| Statement of the New York rnnr
| Der shows gold reserves of s975.17
600. total reserves of 1899. 76S, 900 ami
total deposits of S159, 100000
Review OF Finance Conditions
Moody's Weekly Review of Finar-
cial Conditions in its current issue
says in part:
Doubtless the most conspicuous ,
new trend is the drift toward either
Democrat as the next President
Either alternative would be a bull
point regarding trade and securitie.
Judging from the monetary AMI
trade outlook it appears to be logi-
cal policy to hold fairly good pro
portion of long-term bonds well int,
| the third quarter of the present year
and possibly into the fourth quarter
There seems 10 be no hurry about
getting out of the long and into tn
individual cases where particular
reasons apply. Yet if business fol- =,
lows the expected trend it ought to-
prove advisable to begin some time
| between november ana the END or
| March to switch into short-term is
| sues.
LAS to the heavy or weak bonds
representing certain industrial groups
| which have not been making a very
good shown ng-it does not seem adG
| visable to sell Immediately at thesK
low prices. These bonds might enjoy
| Improvement in response to either the
| general firmness of the bond market
or the expected trade betterment.
investment stocks. excepting oils
and a few other induStrialS. are al
| ready selling well up TO their values
| Hence any bull movement in stocks
| which may accompany the next trade
| expansion promises to be mostly in
! speculative or Semi-speculative ErouDs
| which are not very appealing TO the
| conservative investor"
Personal Mention.
F. B. Blackburn, assistant manager
| of the local office of the Fuller Brush
| Company, has been selected by the
| company as one of the thirty assistant |
| branch managers to attend a special
| training school at the home office, in
| Hartford. Conn. This school, which
| extends over a period of two weeks,
| opened last Monday.
! The course of instruction aims to
unity the training methods for Fuller
| representatives and to give the men
| broader vision in their service to the
! homek eeper by solving her cleaning
|