Evening star., 1927-05-15
INTEREST EXPANDS
IN LOCAL STOCKS
Rapid Growth in Sales in Six
Years-Record Conven-
ton Seen.
BY EDWARD G. STONE.

D1 LDN AMI =. SlVANLs
According to an exhaustive compila-
ton Of figures by Crane. Paris Co.,
trading in stocks listed on the Wash
ington Stock Exchange has shown an
almost amazing increase since 1921
while the total dealings in bonds were
lighter in 1926 than in 1921, although
they held up well during the inter-
vening years.
The statement shows the transac-
tons by months for every year from
1921 up to the beginning of the pres
ent year and forms an extremely in
teresting study for investors in
terested in local securities. The bond
transactions are figured at par While
the stock reports represent the actual
money value of the shares at the time
they were sold. The bonds are of
course in round numbers, but the
stocks are figured down to the last
cent.
Total bond sales in 1921 amounted
to $2,321. 700, in 1922 to $2,310,300, in
1928 to 81 ,5S3 800. in 1924 to $2,27 200.
in 1925 to S2,1S4,600 and in 1926 to
$1.S2S, 700. 1t will thus be seen that
bond sales during the six years iii re-
view were the largest in 1921 and that
was $493 .000. Next to 1921 the year
1922 saw the largest transactions i'll
bonds during this period
Total sales in stocks in 1921 amount
ed to $1,593, ,717.6t. In 1922 stock
sales totaled $3,l64,440.61. in 1928
$2,92S, ,093.43, in 1924 $3.795, 1896, in.
1925 $7,260,353.02. and in 1926 $4,560,.
1864. Thus gain of $2.967, ,048.o3 is
revealed during the year 1926 COM
pared with the total sales of 1921.
Sales, however. made the highest rec.
ord in 1925 and also made remarkable
good showings in 1922 and in 1924.
The above figures make possible
many other interesting and important
comparisons, and the investment
banking firms figures for each month
also bring out equally vita, facts re-
garding movements and trends during
the years reviewed.
Convention Plans Move ON Apace.
The second call for reservations for
the ninth annual convention of the
District Bankers Association, at Hot
Springs, June TO IL, has been sent
out, reservations so far made being
far ahead of the same time last year.
The primary purpose of the session
is business, but the entertainment,
sports and hotel committees are MAX
ing every effort to make other fea-
lures of the program equally enjoy
able.
The Chesapeake & Ohio special leav-
ing Washington on Wednesday, June
8, will again be in personal charge
of j. D. Edmunds, resident manager.
This train will arrive at Hot Springs
in time for breakfast on Thursday
morning, and the opening of the first
business session.
Personal friends of several Wash
ington bankers who live in Richmond,
Baltimore and New York have been
invited to take the trip, and a num-
ber are planning to do so, The sub
jects to be discussed have been chosen
with view to their particular in
terest to local bankers and local bank
ing conditions. The second call is
expected to start a. rush of reserva-
ton requests, as it is now only a little
tion opens.
Lanston Climbs Toward 100.
Lanston Monotype climbed to 9912
in quiet trading on the local exchange
yesterday. Capital Traction ended
the week at 104&, Peoples Drug
Stores came out 107, and 20 shares
of National Mortgage and Investment
preferred sold at 8. Washington Gas
Light closed at 741s.
Georgetown Gas 5s sold at 102,
Washington Gas 6s, series A, came out
at 1031a, and the same company's 5s
changed hands at 1915. Railway &
Electric general and refunding Is sold
at 10414.
The usual Saturday calling of the
unlisted issues took place, but there
We're no important price changes. The
greatest spread in these prices is in
Washington Base Ball stock. 60 being
bid and 100 asked. No doubt the bid
price would be raised if any of the
stock was really for sale.
Young Bankers Fine Editors.
The May issue of Dollars and Sense.
official publication of Washington
Chapter, A. !. B., is perhaps the best
of the year. Secretary Of Labor James
j. Davis writes the first article. on the
subject. Good Will Between Employer
and Employe." Charles W. Collins,
deputy controller of the Treasury, dis
cusses 1.-THE McFadden Banking Act
of 1927" this being the subject on
which he wrote whole book. One of
the most interesting articles is con-
tributed by Alvin w. Hall. director
Bureau Of Engraving and Printing, on
Money Making"
The retiring president, T. Hunton
Leith, summarizes the years accom-
plishments, which, as all the bankers
know, have been large. The issue also
boosts the Detroit convention, takes
up the activities of the women's COM
mittee, covers sports. the essay con-
test and includes an article by Aubrey
r. Carter on Trust Departments in
National Banks" The list of this
years graduates from Washington
Chapter shows better than in any
other way what has actually been
done. Other features add their full
share.
To the editor, Aubrey O. Dooley. and
the following members of his staff be-
longs great success for the unusual
success attained: o. Lehman. Mabel
V. Royce, Garret Van Hoesen, asso-
ciate editors; William i. Schooley,
business manager: d. E. Wisecarver,
circulation manager.
Banks Reveal Money Ease.
The Federal Reserve statement
shows a still further tendency toward
ease Of money. Rediscounts of both
the Richmond Bank and the Federal
Reserve system as a whole dropped
sharply during the week ended May II.
Those of the local fifth district were
down approximately $3,000,000 in a
week to S21 .6S1 900, and close to the
lowest level in years. In the IL banks
combined there was decline of $685.
665 900 to $441 ,977 .000.A
Total gold reserves Of the system
were at 81 new record high Of $3.070,-
154.0
These factors We're in part respon:
sible for lifting the reserve ratio of the
system from rs to 80 per cent The
ratio of the Richmond Bank was 75.42
against 74.60 the week before.
Heard i'm Financial District.
The Washington Bond Club meets
tomorrow and will be addressed bv