The Washington times., 1928-08-31
co.
/ STOCKS ARE
!. HIGHER
~ RICHARD HATTON

ssa0 4 share, as compared with an
average selling price of $sOs
ehsre i'll January. 1927. and a high
of SsAS last May, according 10 =
survey OF the insurance STOCK
naafket made by Gilbert Elliott q
60. specialists in bank and tnsur-
Aikce stocks.
8otween January, 1927, ana ma!
1928 Insurance stocks appreciated
on the average about 80 per cent,
but later lost "a per cent OF this
eain with the result that today ~
current market levels, making due
allowances for stock dividends,
rfRhfs. ETC., the average value OF
these shares lie $3.50 or II per
cent appreciation above the Jan
nary, 1927. levels.
III is OF interest to note, the
bankers point out, THAT during the
shove period, the rate of apprecia-
ton has been similar to the rate
of appreciation which has pre-
vaiked for the last 10 years. Dur
ian me period 191S-1927 a represen-
rafive group or fire and casualty
Insurance. stocks showed an aver
are gain to shareholders of 65.04
Der cent per year Including market
apprsclafiOn and dividendsl.
Year shows Gains
The yesr 1928 is proving an even
b(fter year % fsr than the record
breaking 1897, from an underwriting
SIS hdpoInt. 1ast year was the first
IN seven wears in which the compa-
nibs is whole were able to show
pfokit from underwriting operations.
the first seven months of this
year fire losses are slightly lower
even than for the same period in
1877.
Local financial and real estate cir
cIes are taking a lively interest in the
organization OF the Capital Title and
Guarantee Company recently an
nonnced. Stock In the new company.
which was recently offered here, is
heiag rapidly subscribed, according
IL Officers OF the organization, who
stats that they have been greatly
gratifled at the reception given an
sneuncement Of the eompany's organ
1zatiOn.
The new company proposes to
joperate In the District OF Columbia
ana in nearby Virginia and Maryland
counties and will maintain service
Eovering certificates of title and in
surance. continuation Of title, index
service, Judgment reports and prop
erty ownership reports. 1t II said To
have one OF the best equipped atatis-
RicaI departments in the country
John Paul Earnest is president OF
fhs company and the other officers
bre: Ezra Gould. vice president:
George B. Springston, secretary; Eliot
81. Thomson, treasurer, with the fol.
lowing directorate: John Paul Earn
seSt. president OF the board; B.. Charles
lie Sale Bryant, DIR. Mark p. Finley.
Ezra Gould. ia. s. Iipscomh, William
IS Parks, George B. Springston, Luke
III Strider, William G. Taylor and e.
~. Thomson.
Profits Higher
Profits OF general business cor
,porations for the first six months
asre somewhat higher than the
first six months OF 1927" says
t6a National Bank OF Commerce
81 New York. in the September
.fskae or. Commerce Monthly.
The statements now available
for $40 companies show this in
crease to be 8 per cent. 1t is
reduced TO s per cent. however,
when the earnings of the United
States Steal and the General Mo-
tors corporations are deducted. OF
these $40 companies, $50 have
had larger incomes in the last
halE-year than IN the same period
. year ago. while 100 reported
smaller earnings. Substantial in
cf.eases occurred in the copper.
motor and motor accessory fields
and ia the general miscellaneous
group. Although only a. small
number OF returns are available
IN the leather and rayon groups,
stable gains also are indicated in
these industries.
That the second quarter OF the
current year registered marked i'm
1rovement over the first il iDdi-
tNaked by O. com % rjson OF each
Quarter with the corresponding pc
Rod Of 1927. The earnings of 213
Industrial comps MES exclusive OF
United States Steel and General
Motors were the same a. Iasr
year in the first quarter, whereas
an increase OF ~ per cent. The
nHmber Of eomps MES reporting in
grasses of income over the same
period OF 1927 was larger in the
second quarter OF this year than
ia the first.
Utility Profits Up
Earnings OF ~ public utility
corporations during the first six
months this year were IL per
cent greater than in the first half
OF 1927. Excluding the American
Telephone and Telegraph Company,
whose profits showed . 7 per cent
gain. the increase OF the 81 com
panies in raised TO IS per cent.
The continued upward trend is dis.
closed by comparison OF the
first snd second quar.er earnings
wirh the corresponding periods a
year ago. The second quarters
gain over 1927 was 13 per cent,
compared with gain of IL per
cent IN the first quarter.
Statements for the half-year
gave further evidence OF the IA
vorabIe profit situation in the
utility field with % OF the com.
psniee reporting increases over the
first six months OF last year.
Nine conpa niss reported smaller
earnings than in 1927 and. of these,
six were traction companies
The net operating income Of
} IDS class / railroads during tine
first six months was 2 per cent
= less than that reported for the
first six months last year. Again
the trend of earnings has improved.
N the second quarter, ~ these