Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-04
Advance Puts Issue go
Points Higher Than First
Quotation This Year.
OTHER BANK SECURITIES
PROMINENT IN TRADING
Washington Base Ball Is Again
Bid Up on Fine Show
ing Of Team.
BY EDWARD c. STONE.

SOlQ at $5S0 per snare on Jne WaShlng-
ton Stock Exchange yesterday. This is
an advance of l point over the last
previous sale and up so points from the
first sale made this year. National
Savings Is within 20 points of the
highest priced bank stock in Washing
ton-United States Savings, which last
sold at $500 a share.
District National Bank stock also
figured in a small sale yesterday at
ia and Federal-American National
figured In 20-share turnover at 283.
Bank Of Bethesda stock also appeared
on the board, changing hands at s..
Potomac Electric Power per cent pre-
ferred sold in a small lot at Ill, Capital
Traction sold In small lot at 75s, and
the remaining trading was devoted to
bonds.
Capital Traction IS came out at 94%,
washington Gas IS, series B, sold at
1041z and 103, while Gas A bonds regis
tered 102A. Washington Gas SIS
$500 washington Railway g. Electric IS
washington Base Ball stock again
reflected the standing Of the club at
the head Of the American League. The
bid price was raised points from SO
to SIS and the asked price went up from
70 to rs. This Is a jump of 10 points
in less than 10 days, but the spread of
20 points between the bid and asked
quotations has prevented any sales.
In the unlisted department the asked
price on Raleigh Hotel stock was ad-
vanced to IS and the asked price on
washington Savings Bank stock was
raised from IL to 20.
Essay Contest Judges Appointed.
President w. J. Waller of the Dis
&rfo Da I,or
ed the three judges to select the win
ners in the annual essay contest open
to students In Washington Chapter,
American Institute of Banking.
IT." Judges who will render the i'm
pUTGa4.U rulings on these essays are
George @. Watson, president Of the
Liberty National Bank; Francis G. Ad-
olson, Jr., vice president of the Security
savings q Commercial Bank, and How
ard Moran, vice president Of the Amer
lean Security & Trust Co. These three
men know their essays and have pre-
V1ouSly served on similar committees.
The institute contestants must turn
In there essays tomorrow. Each essay
has number but no name on 1t, so
that the judges have no way of know
Ing who the writers are when they read
them over and note their fine points.
AS Is quite generally known, the win
ners Of the first three places are given
q trip to the bankers convention. It
Is understood that there were many
more entries this year than last, SO
that the competition will be much more
interesting. The reward this year will
be trips to Ashville, N. G.
Some Retail Trade Comparisons.
The Reserve Bank Of Richmond's
monthly review shows that retail trade
In Washington IN March was of 14.3
per cent, compared with March 1929.
Safes from January to April were
81 per cent lower than they were In
the corresponding period q year ago.
Stocks on hand In retail stores In this
city were 5 per cent larger than In
March Of last year.
The larger stocks ON hand were
largely due to the receipt Of merchan-
disc for the Easter trade, the report
explains.
Sixty-nine wholesale firms In the
NTH district, representing fve impor-
tant lines Of trade, sent reports on their
March business to the Federal Reserve
groceries. dry goods, shoes and hard
ware were less than March, 1929, sales,
but drug sales were larger In the 1880
month. March sales showed seasonal
increases over February sales in all
lines except dry goods, In which there
was decrease Of less than one-haf Of
] per cent.
Total sales In the first quarter of
1880 IN groceries and shoes were larger
than sales in the corresponding three
months Of 1929, but dry goods, hard
ware and drug sales were lower this
year. the decline In drugs being due
in large part to unusually large sales
in January, 1929, as o result Of q mild
epidemic Of influenza.
Credit Easier Than Last Year.
Money conditions are, fundamentally,
considerably easier than q year ago.
The rates for most classes of credit.
says the Guaranty Trust Co. of New
York, are still substantially below the
levels that prevailed in April, 1929, and,
although money has naturally hrmed
ut the midmonth and end-month
periods, the process has not been ex-
cessive. In fact, the ease with which
the ordinary periods Of money strain
have been passed testifles. even more
convincingly perhaps than the ex-
damental cheapness Of credit at present.
While money was scarce continuously
last year until the stock market break,
1t was the excessive rises In rates at
the heavy payment dates that empha-
sized the condition.
In many quarters there Is considerable
confidence In the outlook for the con-
tinuance of relatively easy money. Ger
tainly, present indications do not point
TO sufficiently rapid increase in gen.
eral business activity to put strain
upon credit conditions very soon, and,
unless the Stock Market should expert
ence an unusual outburst OF speculative
activity, 1t does not appear that there
should be any material firming In In
terest rates in the next few months.
With money conditions remaining stable
and the flush Of heavy bond dealing
with the vigorous advance and subse-
quent reaction passed, the outlook Tor
1xed-income securities would not ap-
pear to be unfavorable, the bank con-
cludes.
Named for Executive Council.
The following five bankers have been
nominated for the executive council OF
the flduciaries section of the District
Bankers Association: F. p. H. Siddons,
American Security g. Trust Co., chair
man; Irving Zirpel, Union Trust Co.;
George M. Mckee, Riggs National:
Charles D. Radcliffe, Munsey Trust. and
Ralph p. Barnard, District National.
Howard Moran, vice president of the
American Security g. Trust Co., Is an
other Washington banker who will at
tend the executive council session OF
the American Bankers Association,
which opens tomorrow at Old Point
comfort. Va. .. .. .-