Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-16
TRADING IS QUIET
| ON D. c. EXCHANGE
Riggs Stock Gains SIG a
Share on Ten-Lot Sale.
Bonds Are Dull.
By EDWARD c. STONE.

Ten shares of Riggs National Bank
ktock sold on the Washington Stock
Exchange today at 495 a share. This
Vas a gain of $40 share, as the last
previous sale was recorded at ATS,
Capital Traction, a small lot transac-
ton, sold ex-dividend today at 60&
which has been the prevailing price for
the past two weeks or more. Mergen-
thaIer Linotype, which is also ex-divi-
dend, sold to the extent of 20 shares
at 81.
Potomac Electric Power per cent
preferred moved at Ill and Ill.,. Ten
shares of Washington Railway & Elec-
trio preferred changed hands at 90.
Federal American Co. preferred figured
in very small sale at 100.
Bonds we're much neglected, the only
sale being 81 900. Anacostia e. Potomac
Railroad Guaranteed SIS at ga. Fed
eral-American National Bank stock was
quoted today at $50 bid and 325 asked,
while Merchants Bank g. Trust stock
was quoted at ITO bid and $50 asked
These are the banks mentioned in the
latest merger negotiations.
Natural Gas Plans Pushed.
The Columbia Gas & Electric Cor
poration has contracted with the
Washington Gas Light Co. for the de-
livery of natural gas into the District
of Columbia and also to supply natural
gas to the American Electric Power
Corporation for distribution in the
York Pa, area. 1t was announced in
The Star several weeks ago that Pres
ident George A. @. Wood was complet-
ing arrangements for putting natural
gas in Washington by the end Of this
year or early next year.
Latest detailed plans indicate that
rae f,.. oil - will t1o NFOffnl1t
through a new pipe line that the Co
lumbia system proposes to build
through West Virginia and Virginia
and which will make the fuel available
also to other Eastern cities as soon as
negotiations have been consummated.
Construction of a natural gas trunk
system through Virginia will make three
main trunk lines running to the East
ern seaboard, The northernmoSt trunk
line of the Columbia system serves the
territory Of Binghamton, N. Y, and
continues east and southeast into
Northern New Jersey. The central trunk
system, comprising two pipe lines, runs
to the outskirts Of Philadelphia, and the
Southern system, to be built, will run
northeast from Washington through
Baltimore and Philadelphia to the Jer-
sey City territory.
Better Bond Market Seen.
Many factors are operating to bring
about further improvement III the bond
market as the trend toward conserva-
tive investment continues, HalSey, Stu
art & Co. declare in their quarterly re-
view, which was issued today. In sup
port Of their theory, it is pointed out
that the supply of the highest grade
bonds has at no time quite overtaken
the demand. Interest Of individual in
Vestors has been increasingly in evil
dei1ce. and the market has been making
progress in the face Of an unusually
heavy volume of new offerings. Less
widely known issues have not been in
s3Irh great demand. the review points
ont, and the natural consequence is
that this class of securities still re-
mains 10 benefit by the preference that
has arisen for investment over any
form of speculation.
III More Business Gains Near.
fsThere are signs of at least a normal |
SEASONAL recovery in many lines of bust
rssi this Fall, say HornbloWer g. /
Weeks in their September Investment |
Reriew.'
with inventories generally low. both |
from a volume and dollar standpoint, |
and cash balances large, a relatively |
slight improvement in retail demand !
should almost Immediately result in
Stln1ulOuS 10 business, ana t1uS benu
toward generation of an optimistic |
sentiment. a most important factor. |
Under these conditions, we see no other
choice than to be favorably impressed
by the near term outlook for high-grade !
equities"
Heard in Financial District.
At the regular meeting. Of the board
of directors of the Continental Trust
Co. yesterday a dividend Of / "a per
cent was declared, payable September
so to stockholders of record Septem-
Der IS
The local Offices Of Alexander Brown
81 Sons in the Woodward Building were
moved into their new quarters today.
The investment firm is now located only
one door from where it has been Sit
uated for so many years.
H F. Kimball of the American Sc
clrity a. Trust Co. and member Of
the board of governors of the American
Institute of Banking leaves the city to-
morrow for vacation motor trip
through New England. He will return
October 1.
Tonight's open meetings of Washing
ton Chapter, American Institute OF
Banking, at the willard will have
record attendance, 900 tickets having
been given out. Paul B. DetWiler OF
Philadelphia will be the chief speaker
and certificates will be awarded to a