Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-12
September Report Expected
to Show Increase in CON-
pany'S Earnings.
FIFTH DISTRICT RETAIL
SALES SHOWN BY CITIES
Treasury's $1o2, 525, 900 New Issue
Far Observation-Disclosures
of Bankers Convention.
BY EDWARD C. STONE.

Capital Traction stock closed the
week on the Washington Stock Ex-
change yesterday with two small sales
at 54 This was fractionally higher
than the low for the week, which was
also the lowest price ever recorded for
the local issue. The market wound up
with a very small spread between the
bid and asked prices, 81 being offered
and 54l2 asked.
Holders of the more than 1900 shares
outstanding are now awaiting with keen
interest the September financial state
ment, as it will give the best indication
yet as what the higher carfares are
likely to mean in the long run. The
report will be available in few days
and is expected in the financial district
to show gain over September, 1929.
Two bank stocks figured in the trad
ing yesterday. Riggs National sold at
ass on small turnover and American
Security & Trust stock came out at
$40, also on a small lot sale. Both
quotations were lower than the last
previous sales in these two issues.
Other transactions during the session
included sales in Potomac Electric
Power 5I2 per cent preferred at 1924,
the per cent preferred at Ill; Mer-
genthaler Linotype at 1872, and Wood
ward & Lothrop preferred at lot:
Notice was received on the exchange
that the directors of the Lanston Mono
tyne Machine Co. had declared the
usual ia per cent dividend due at
this time and also the extra Il per cent
dividend which has recently been de-
clared every quarter. The two div1-
dends are payable November 20 to
shareholders of record November 10.
Securities in the unlisted department
were called of and few changes in quo
tations noted. Attention was called to
the fact that the exchange will be
closed tomorrow, Columbus day. al
though the local banks are open as
usual.
The New York Stock Exchange
closes, which means that the tickers
will be silent In all the Washington
broker Offices.
Investors Picking Up Stocks.
Securities are not going begging, as
appears on the surface; they are being
absorbed by that large part OF our
population which Is not stock market
minded but still holds firm to the faith
that business revival is In the making,
the Fiancial World will say In its next
issue. Indications of this are seen In
the continuous increase In shareholders
reported by corporations.
1.-THE Nations financial background Is
too strong for the ultimate business re-
covery to be long postponed" the publi-
cation says. "Our commanding pur-
chasing power is not impaired and our
ample cash resources need only the re-
turn of confidence to inyigorate them
into action. It Is useless to attempt TO
gauge the immediate trend Of security
prices when they are stepped in doleful
moods and pessimisnl. Under such cir
cumstancss, they must be considered
from the broad viewpoint, unrelated TO
the present fluctuations, Of the next
major movement which is destined by
the natural law of cycles to assume q
constructive form"
Investment bankers in Washington
made similar statements during the
week. There has been good invest
nlent buying in the market for several
weeks, they assert, but 1t has not been
sufficient to check the downward move
ment. They insist however, that such
buying exists In q large measure.
Retail Sales Gratifying.
Announcement that retail sales In
Washington for the first nine months
of the present year were only is per
cent under the corresponding period
last year caused general satisfaction
here. Percentage comparisons for other
leading cities in the fifth Reserve dis
trict, with the corresponding periods in
1929, are given below: