Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-17
WASHINGTON STOCK.
EXCHANGE TO MEET.
annual Session viii Take
( Place Wednesday-Year
Has Been Successful.
by EDWARD C. STONE.

r. Inc annual meSJlng OF the WISH
t1gton Stock Exchange takes place next
"wednesday. November 20. after the reg
alar trading session. The Exchange
& now winding up one of the best years
IA its long history, trading during most
CT the present year having far exceeded
that previously recorded. Transactions
during the Summer season held UP
snuch better than usual and many single
days sessions this year have smashed
all other records in volume OF turnover
Along with the active volume OF bust
ness there have been many wide price
swings. Capital Traction stock has
drawn special attention all the year
The high for the year in this issue
has been 1917. The other day the
stock sold at rs, the refusal of the Pub
lie Utilities Commission to grant higher
car fares having been assigned as the
reason for the limited number of sales
ct the lower figure.
Washington Gas Light stock has also
commanded much attention. The con-
test over control of the company and
the possibility of expansion in earnings
by outside interests caused this stock
to climb to 1871 This action was fol-
lowed by q period Of inactivity. but the
New York Stock Market crash caused
q small amount Of 1t to be brought out
the other day and sold at 100.
Utility Stocks Popular.
Next to Capital Traction the largest
turnover in any local utility stock so
far this year has been in Potomac Elec-
trio Power 5l2 per cent preferred stock,
nearly $500 shares having changed
stock is ITO. 1t is now selling between
102 and 1903.
Washington Railway a. Electric pre-
ferred comes next in the popularity list
The stock is now selling between SO
and IS after being up to 1894. The
turnover has been about $500 shares
The turnover in the miscellaneous list
has also been heavy. AS usual, Mer-
genthaler Linotype and LanSton Mono
type sales have been extra large. Broad
interest has been manifested through
out the year in local bank stocks and
much more business has been registered
in the bond department since the late
Summer.
The local exchange has no advance
slate of officers to be voted for at We'd
nesday's meeting. This years officials,
who have taken wide interest in the
affairs Of the local securities market,
include:
George o. Watson, president of the
Liberty National Bank, president; Ed
ward L. Hillyer, vice president Union
Trust Co., vice president c. j. Gockeler,
vice president District National Bank,
secretary, and Lawrence A. Slaughter.
vice president Commercial National
Bank, treasurer. Members of the board
Of governors are George o. Watson,
Eugene E. Thompson. head of Crane,
Paris & Co.; Edward L. Hillyer, Y. E.
Booker, head Of Y. z. Booker & Co.:
Federal-American National Bank, and
Carroll Glover, member of the invest
ment firm of Glover & Father.
Maj. Ennalls Waggaman, head Of
Waggaman 81 Brawner; Frank B. Pryor,
member of the same firm, and George
o. WolSon, as head of the exchange,
entertained the members at an oyster
roast yesterday afternoon at Wild Rose
Shores. just out of Annapolis. There
were about so in the party and a de-
lightful afternoon was reported. There
were several guests present aside from
the exchange members. The roast was
held on the old Waggaman estate and
the bidding for oysters was more excit-
ing than any bidding for securities ever
witnessed in the local mart.
Advance In Bonds Pleasing.
Local bond men were greatly pleased
with the advance noted in Government
bonds at the end Of the week. Heavy
buying of United States bonds on the
New York exchange Friday, following
the brisk bidding earlier in the week,
sent five Of the seven active issues to
new highs for the year. Most of the
buying was attributed to corporations
and investment trusts, which have not
been able to employ so large a percent
age Of their surplus funds in the call
money market as formerly.
Dealings were heaviest in the fourth
Liberty Ans. which advanced 1882 to
100 1882 after having touched peak
OF 100 24-32. Buying of this issue was
unusually heavy in the outside market
also. The first Liberty 4Ks reached a
rev high for 1929 at 100 1882, up 1892
net for the day. Other record tops were
made in the Treasury 4I4s at liz 1892.
up 25-32 the Treasury As at l08 1882.
UP 1882, and the Treasury 33ss at
80 1852, up 9-32.
Klein Finds Inventories Low.
Assistant Secretary Of Commerce
Klein says that none of the usual signs
of a business crash are visible as an
aftermath of the recent stock market
decline, inventories showing no conges-
ton in merchandising stocks.
There is a steady adjustment be-
tween supply and demand" he added.
wholesale prices are relatively low.
Taking the year 1926 as the normal
at s3.3."
Klein. however, took cognizance of
the losses suffered by thousands of
large and small investors in the mar
ket slump.
There won't be much tinsel on
Americas Christmas tree this year-but
there will be tree" he said.
Financial District GIeanings.
John B. Larner president of the
Washington Loan a. Trust Co., has been
appointed a member of the committee
on legislation of the trust company di-
vision of the American Bankers Asso-
citation. This is considered highly i'm
portant committee. Mr.. Larner has al
ready served on many other A. B. A.
committees.
With the introduction of a new form
OF A. B. A. travel check, reduced to
the size of the new paper money. the
American Bankers Association and the
Bankers Trust Co. of New York an
nounce that a 5000 denomination will
be available for the first time Here
tofore the checks have been issued in
denominations Of $40, $40, $50 and
500. The lower purchasing power OF
the dollar, as compared with the values
90 years ago, when the checks were
first adopted prompted the addition of
the $500 denomination.
Luther A. Swartzell, vice president of
Swartzell, Rheem q Hensey, has just
completed 81 years of service with this
widely known local Arm Of mortgage
bankers. Mr.. Swartzen is in good health
and keeps in very close touch with
both local and national business affairs.
Washington brokers state that in
veStment buying was undoubtedly the
reason for the stronger tone on the
New York stock market at the end
* the week. Yields on sound stocks
at present levels are considered too
good to be resisted. Some first-class
stocks are lower now than they we're
four years ago. Care in the selection