Evening star., 1930-06-22
D. c. STOCK ISSUES
AREFA|RLY STEADY
IN RECENT SELLING
Local Market Little Affected
by Losses in Wall Street
Slump.
CAPITAL TRACTION FIRST
IN VOLUME OF SALES
W. r. & E. Preferred and Potomac
Electric Have Also Been
Very Active.
BY EDWARD C. STONE.

The Washington Stock Exchange have
worked lower during the first half of
1880, now so nearly ended.
Local issues, however. have held up
very well in the face of crumbling val
ues on the New York Stock Exchange
and many other exchanges all over the
country. The declines here have not
been nearly as severe as in many other
cities.
The volume of trading has also held
up well during the past six months
not as well as a year ago during the
same period, but. on the whole, mem
oers of the Stock Exchange express
general satisfaction with the result.
When quotations are dropping in
New York there is always more or less
selling on the local exchange by in
veStors who are obliged to protect COM
mltmentS elsewhere. In the recent Sc
we're setbacks in New York, however,
Numbers of the local exchange report
that there has been but little liquida-
ton here because of impaired New
York accounts.
Capital Traction Most Active.
Among the high-priced stocks on the
local exchange Capital Traction has
been the most active issue during the
past six months. There has been
turnover of Abb shares so far this
year. On account sf the forced reduc-
tion in the dividend, this stock has also
sold off more than the others. The
stock opened 1880 at rs, advanced to
9212 and closed Friday at 601a, ex-
dividend
Next traction in the utility list,
washington Railway & Electric pre-
ferred, has seen the largest volume of
trading, with a turnover of 1887
shares. This stock is higher than it
he 6rrf ~ TH1 !
1880 at "a, went to 991s and closed the
other day at 98L
Another particularly lively issue in
the first half year has been Potomac
Electric Power 5l2 per cent preferred,
LASS shares having changed hands.
The stock opened at los, went to
10694 and is now 10714 During the
half year SGT shares of the corpora
lions stock have changed hands. open
ing 1896 at Ill and now being 110.
The highest priced utility on the ex-
change is Washington Railway & Elec-
trio common. 1t opened the year at
500 and is now $50 That holders are
loath to part with it is shown by the
fact that only IL shares have been sold
In the six months.
One more local stock that always
holds public interest is Washington Gas
Light. The turnover in this issue has
been rather slow. 1t opened 1880 at
96l2, climbed to 100 and the last sale
was made at 120.
ID. C. Bank Stocks Also Lower
Washington bank stocks are lower,
although they have resisted the down
ward move far better than many of the
leaders in New York. AS a group they
have done well.
Among the national banks. the larg-
est turnover has been in Commercial
LET ,fnl, 80 ~
and is now 230, sales totaling asa
shares.
Riggs National has been active for
guch a high-priced issue, recording
sales of 174 shares. The stock opened
the year at $50 advanced to 533, drop
ped to 400 and is now selling at 470.
Next in total sales comes Federal
American.
The trust company group has been
less active, American Security & Trust
leading with sales of 1875 shares. The
stock opened the year at 436 and Is
now AIS. Next in activity comes Con-
tinental Trust This stock has been
: selling at l25 for some time
The highest priced savings bank
stock on the list is Security Savings &
Commercial. now selling at 482, six
points higher than when the year
started. The highest priced bank stock
on the board is National Savings e.
Trust which opened 1880 at $40 and
last changed hands at SOL.
MergenthaIer Among Leaders.
In the miscellaneous list, Mergen-
thaler Linotype has been the most ac-
tive. this popular issue recording a
turnover of 1878 shares. The stock
opened the year at LOG, went to l09
and is now selling ex-dividend at 9734.
Lanston Monotype started the year
at lib, climbed to 129. and the last
sale was made at 1872, the turnover
reaching l.Oo7 shares Peoples Drug
Stores preferred. another stock selling
over 100, has been popular, 65S shares
changing ownership in the six months.
The last quotation was LOG.
Carpet Corporation. one Of the newer
and lower priced issues on the board.
has recorded sales of 1898 shares. the
last sale being made at 20l2 National
Mortgage & Investment preferred and
Real Estate Mortgage & Guaranty pre-
ferred have figured in very heavy share
turnovers.
A review of the local bond market
shows most bond issues of from the
high for the year. but the declines are
very modest. The most active bonds on
the washington Exchange have been
Capital Traction first SIS, Washington
Gas bonds, series A, and Washington
Gas Light. series B. and Washington
Railway e. Electric consolidated As
Potomac Electric Power consolidated SIS
are higher now than when the year
opened. The IS are only of "a of a
point
Some Suggestions From Boston.
However one may reason to the
cause of the present general business
decline" says the United States BuSi-
ness Service. the fact remains that
We are all confronted by a condition
not a theory. We must face the pros
pect that improvement may be delayed
and will perhaps be very slow. In all
quarters of the globe the wheels Of
industry have slowed down, production
has declined, and with it, necessarily,
employment has diminished.
We repeat our conviction that both
retail prices and wages must be scaled
down to conform to present realities.
Selling methods and costs must be
oyerhauled. This Is particularly i'm
portant because it is in the selling
field that extravagant expenditures
have been most evident during the
recent years of business expansion.
Even though some measure Of sea-
sonaI improvement may reasonably be
expected In the Fall, we nevertheless
believe that the wisest policy viii be