Evening star., 1926-04-27
TRADING ONLOCAL
EXCHANGE ACTIVE
LanSton Monotype Takes
lead-Bank Stocks Out
in Several Sales.
BY EDWARD G. STONE.

Trading on the Washington STOCK
Exchange today showed decided az
tivity, Lanston Monotype taking the
iead While several bank stock sale
added unusual interest to the session.
Stock of the Washington Loan 8.
Trust Co. reached sos, the highest
point this year.
This stock opened at 4S0 on two
10-share sales. II went 10 500 OIL
three sales involving 90 shares. and
closed at sos on the transfer of one
lot. Ten shares of Riggs
National Bank changed hands az 453.
while there was n turnover of 3"
shares of Union Trust Go. stock a.
225. Ten shares of Commercial Ma
tionaI Bank stock went at 23l.
Capital Traction came out on one
sale at 1881, off half a point from
last week, but only three shares
changed hands. Washington GaS
Light stock, which has been the mar
ket feature for several days, was les
active today, although 50 shares Wert
sold at GS. LanstOn opened at s.
dropped to S47s and closed back at s..
the days turnover totaling 30 shares
on IL different sales, the record TO
many weeks.
Bonds were less interesting, Pc
tomac Electric 6s bringing 106t2 auo
Washington Gas Gs 102is.
B. & o. Shows Excellent Gains.
Operations Of the Baltimore an"
Ohio Railroad, both for March and ths
first quarter OF 1926, were NOR,
profitable than the Correspondine
periods last year.
Net operating income for Marc
gained S362,s69 and the total a.
$S,176.915 for the first three months
Of the year was an increase O.
s1,sS6,441 for the first quarter G.
1925.
Freight revenues gained S3,006.95-
for the quarter, but passenger rev
enues dropped Sl01,455.
Decreases were also made durIrE
tho three-nonth period in main
tenance OF equipment and misceliane I
Gus operations. Revenue from mai
and express were also smaller.
North Americans Earnings Jump.
The consolidated income statement
Of the North American Go. and sui
sidiary companies for the y months
ended March 81 shows 12,729,9 ,9O3 for
common stock after all operating eA
penseS, interest, preferred dividends
and reserves of more than 10 per cent
Of gross earnings for depreciation.
These earnings are an increase o.
37.o3 per cent over these for the l.
months ended March 81. 1925, and ar
equal to 1885 per share Of common
stock outstanding March 81. 1926
compared with 1910 per share &c
common stock outstanding March g.
1925, despite AIS 900 shares addition
common stock issued for new pror
critics. earnings of which for onl,
tn Ho ~
come statement.
Mellon Explains Drop in Loans.
Secretary Mellon believes that the
sharp falling off in the amount Ui
brokers' loans since the first Of the
year is the natural consequence OF
decreased speculation. The Fedora
Reserve Board has announced that
loans on securities had declined $500.
600. 900 up to the middle of this month.
The board reports that commercial
loans of member banks In leading
cities were fairly constant between
the middle of March and the middle
Of April. The level was about $20n.-
600, 900 higher than at the end of
January and about equal to the high
point of last Autumn.
Farmers Plan Usual Acreage.
Nearby farmers in Maryland and
Virginia report that they are expect
ing to plant about the same acreaSc
as last year. The Department OF
Agriculture announces that farmers
as a whole are planning to plant
larger crops this year than last. The
prospective acreage in oats, barley.
potatoes. rice and hay will be large
than in 1925: the corn area Will re
main about the same. and tobacco ana
The huge cotton crop in 1926 with
a consequent lowering of prices has
resulted in an effort among cotton
growers to reduce the acreage thf:
year but the extent of this reductior
has not yet been calculated.
Reports from Virginia growers il
dicate that they are expecting 10 rails
| as much cotton as they did last yea
Farm work is progressing rapidly.
Merchants Want Cool Weather.
Washington retail merchants wall
Summer delayed. Several said today
| that they did not wish to see a suddeu
| jump into real hot weather. They arr
anxious to finish up their Spring lines
| first. Reports indicate. however, that
the merchants here have had better
success in cleaning up their Sprins
| styles than have the stores in th'
| Northern sections of the country
where cold weather up To q few day.
| ago had greatly delayed trade. Pr"-
! longed hot weather here would end
| Spring goods sales or result i'll d host
of "cut price" sales, local merchant
say.
| The course of prices in the whole
| sale commodity markets continue
! toward q lower level. 40 out Of the o.
changes that appeared last weeh
! in the list of quotations being declines
| against 20 advances. In a stmila'
comparison for the correspondent
week of last year, AZ recessionS cor.
trasted with 10 advances.
Attending Atlanta Meeting.
Robert V Fleming, president of The
| Riggs National Bank. and \. NJ. New
/ us, one of the vice presidents OF the
| same institution. have gone to A.
| lanta. Ga, to attend q Federal Reservc
board meeting. They will be in the
South about a week.
! r. G.. Donaldson. president of tho
| Commercial National Bank. will rc
| turn from several weeks stay i'll thc
! West about May ].
| The District Bankers Association
will move into the new headquarters
in the Becker building on + street or,
| May IL, Francis G.. Addison, jr., an
| nounced today.
| The annual meeting of the Leu
| ston Monotype Company takes plac"
| in Alexandria Tuesday, May 4.
Speed Needed i'm Essay Contest.
| The essays for the. contest offered
by the District Bankers Associatioi
must be in the hands of Miss GraC'
| Bromley, assistant secretary of tn
association, by next Saturday. May !
Those who capture the honors. in al
dition to gaining fame, will get fre'
| trips to the bankers convention L"
be held at Hot Springs. Va, in Junc.
Money Market Holds Interest.
The money market holds the center
| of the stage in financial circles. The
| ruling n &c. of g I1el. cont on call NONE