Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-06-20
TRADING IS ACTIVE
ON D. c. EXCHANGE
Bank Stock and Local UtiIi-
ties Bonds Are in
Demand.

AS Tic GiSttlCb Oh SOluHlDld odlihtIS
Association opened it's annual sessions
at Montauk Beach, Long Island today,
trading on the Washington Stock Ex-
change showed moderate activity, with
Riggs National Bank stock and local
utilities bonds being in demand.
Riggs opened at STA on a turnover
of 90 shares, 2 points up from the last
previous sale, and moved to SIS on q
series OF lots totaling 30 shares.
Georgetown Gas SIS went at 1894 in
two transactions Washington Gas SIS
were steady at 99lA, while the same
company's IS b" was slightly of at
1882. Washington Railway As sold
at 85
Mergenthaler Linotype changed hands
in two blocks at 10434 and 100 shares
of National Mortgage & Investment
preferred sold at A. Capital Traction
Co. was steady at 90 and Potomac
Electric 6 per cent preferred sold at
11114.
The bankers at Montauk Beach
opened their business sessions this
morning, following the trip by special
train leaving Washington last evening,
and this afternoon opened their sports
program.
R.serS Bank Examiner.
IlS DOdA u VI NllCGIOiS VI lklC tNdSlOllnl
Metropolitan Bank yesterday declared
an extra dividend of per cent, pay
able on July to shareholders of record
on June 20.
Ralph w. Byers, now attached to the
fourth Federal reserve district, has been
appointed chief national bank examiner
for the local, fifth Federal reserve
district, including the District of Column
bia Maryland and Virginia, it was an
nounced yesterday by Controller of the
Currency Pole. He succeeds w. P.
Folger who resigned to become execu-
tive vice president of the National Bank
of Commerce & Trusts at Norfolk.
Mr. Byers has been Is years in bank
ing, and is Sd years of age. He was
born in Ohio, later lived in Atlanta,
and was appointed a national bank ex-
aminer in 1916.
Harold D. Kraft general agent for
the State Mutual Life Assurance Co. of
Worcester, Mass, will leave the Capital
Saturday to attend meeting of the
General Agents Association of the as
surance company at Poland Springs,
Me
Joseph A. Mari, associate general
agent of the same company, will leave
Monday for the annual convention of
The Agency Club also at Poland Springs,
Me. The Washington agency of the
State Mutual reports an increase OF 264
per cent over last years paid business,
attributed largely to the cooperation
given by banks and trust companies of
Washington in completing insurance
trusts.
Trend of Stocks.
The general trend of most types of
stocks on the New York market during
the last week has been steadily upward,
according to the Business Economic
Digest. Spectacular rises have been
recorded in many individual stocks"
says the Digest. The general level of
stock prices is now near the highest
point attained thus far this year. Gen.
Sral business continues to exhibit less
than normal, Summer seasonal let
down, and favorable industrial situa-
ton is indicated during the early Au-
tumn months, at least"
Contracting for third quarter steel Is
beginning to overcome the inertia OF
Summer and an unchanged price situa-
ton. says the Iron Trade Review.
This tendency" 1T says, "iS not spec
tacular, but increasingly consumers are
committing themselves, some for the
entire quarter With their organiza-
tions geared up to a record gait pro-
ducers seem likely to pursue new bust
ness more diligently"
of Commercial Credit Companies of
Baltimore are reported as largest for
April and May, of any months in the
companies history. Consolidated net
income applicable to outstanding COM
mon stock for April was at the annual
rate of $500 per share, and for May at
the annual rate of $6.19 per share.
Consolidated volume for the five months
ended May 81 was $191 1925
Industrial stock prices, holding at
the lows established in February, have
undergone a normal recovery" accord
ing to the Alexander Hamilton Insti-
stute Bureau of Business Conditions,
sufficient to make up somewhat more
than half of the ground lost during
liquidation. Railroad shares have been
strong and sold up above their previous
trading area The market does not
appear headed definitely for another
speculative up-rush and it is probable
that the breaking out of excessive spec
ulation would occasion further repreS-
sive measures. The ability to hold at
above previous low levels however, sug-
gests that good absorption of the strong
Semi-investment issues may have taken
place in the recent weeks of heavy
selling. It is not believed desirable to
employ all funds in the market, but
approximately two-thirds of available
resources may be so used"
HOOT- MON-TAUK.