Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-23
WASHINGTON STOCK
EXCHANGE ACTIVE
Prices Firm as Trading Ex-
pandS-Bank Issues
Popular.
BY EDWARD C. STONE.


One of the most active sessions of
the month was recorded on the Wash
ington Stock Exchange today, the
turnover being large in both stocks
and bonds. Some issues sold lower,
but prices as rule were firm.
The market opened with AnacoStia q
Potomac Railroad SIS figured in $1,000
sale at 10. Washington Gas Light
bonds, series B, came out at los on
small sales. Potomac consolidated IS
saw a $4,000 Turnover. $1,000 selling
at 1o4la and $4,000 at l04A.
Bank stocks were popular Two sales
in Riggs National were reported at
$40, while rs shares Of National Bank
of washington stock changed hands at
100. closing with 1870 bid and EOS
asked. There also were two small-lot
sales in Security Savings 81 CONNER
cial at 435.
Lanston Monotype opened at rs and
closed at T512, the days sales being 80
shares. Potomac Electric Power 512
per cent preferred moved at ll0L2,
while Merchants Transfer q Storge
preferred sold, ex-dividend, at 90, fol-
lowing yesterdays regular quarterly
dividend declaration.
Mergenthaler Linotype also appeared,
opening, eX-dividend, at 721s and clos
ing on very light sales at 7l34, Poto-
mac Power per cent preferred came
out at 1l2 and Washington Railway e.
Electric moved ct SO. One OF the late
sales was 81 900 Capital Traction 5S at
rs. Capital Traction stock was not out.
District National Federal American,
Columbia Sand & Gravel and Mer-
chants Transfer e. Storage preferred
were added to the ex-dividend list to-
day.
Thorpe Urges Business Study.
Leaders of business thought are
agreed that industry and enterprise Of
every character must map plans to as
sure greater net profits from smaller
gross volume-that new conditions de-
rnand undivided attention to all factors
which influence costs.
I'VE must prepare for tomorrow's OPP
portunities by setting our house in order
today" declares Merle Thorpe. editor OF
Nations Business, and director in the
National Metropolitan Bank. Every
business has its hidden enemies. There
is ample evidence of numerous firms
that have done better this year than last,
because they quit looking for relief from
the outside and concentrated exclusively
on the inside Of thir own operations.
But the hidden enemies of progress
must be rooted out OF the office, the
factory and the sales room before the
all striving. will get under way. We
must stir up the dormant forces of
commerce and industry by self-exsmi-
nation of individual business. A thor
ough determination will bring to
light new and undiscovered forces with
IN business itself"
Fifth District Collections.
Collections during August in 80 of
the "a reporting stores in the fifth Fed
eral Reserve district averaged 24.4 per
cent Of receivables outstanding in Au-
gust higher figure than 1915 per cent
collected in August a year ago. Collec-
tions last month we're seasonally slower
than in July of this year.
There was gain of % per cent in
August collections in Washington, 26.6
per cent in Richmond, 21.5 per cent in
Baltimore and 23.9 per cent in group
CT other cities in the district, compared
with last year in the same month.
Stocks on hand on August 81 in Wash
ington stores were 83 per cent lower
than on the same date year ago. In
Richmond stocks of goods were down IA
per cent. in Baltimore 81 per cent and
in the fifth district as whole go per
cent.
In most all the "a reporting stores
stocks were slightly higher at the end
Of August than at the beginning.
Quarterly Dividend Declared.
Directors of the Merchant Transfer
& Storage Co., yesterday declared the
regular quarterly dividend of Sits per
share on the preferred stock. payable
october TO stockholders of record
September "a. Books are to be closed
from September "a to September 80, in
elusive. The directors expressed salts
faction over the excellent volume CT
business transacted so far this year in
comparison with the corresponding Pc
riod last year.
Directors of the American Ice Co.
have declared a quarterly dividend of
SO cents per share en- the common stock,
payable october IS to stock of record
October 2, reducing the annual dividend
basis from So to 50.
Building Contracts Improve.
During the first half of September.
construction contacts in the Middle At
lantic territory nearly matched the pro
rated total for the like period in 1880.
the T. w. Dodge Co., reported today.
The territory covered includes Eastern
Pennsylvania. Southern New jersey
Delaware, Maryland, Districe of Column
bia and Virginia.
Today's report also goes back 10 Au-
gust, Washington alone showing con-
Cyl aSbAOl pAdlHi4Aib OH q uiEIlET plane
than a year ago.
OF the principal cities in the district
gains were shown over August, 1880. in
Scranton, Washington and Norfolk. with
respective totals Of S315500 against
S232,0 In August, 1890: S3.752.300
against s1,769000 in August 1880. and
1881 500 against $i2o,lo0 in August
last year.
Heard in Fins ncial District.
President L. P. McLachlen of the Nc
Lachlen Banking Corporation has re-
turned from his annual vacation
Eugene c. Carus!, son of the late
Charles r. Carusi and grandson of
Eugene Csrusi. has resigned from the
Navy to accept position with the new
insurance agency of Legg. Griffin Sc
Co. He also intends 10 study law at
National University, of which his father
was president.
The Washington Bond Club held its
FIRST meeting Of the season today with
luncheon at the National Press Club.
President l.. NJ. Proctor outlined in de-
tail plans for the coming year.
The council of administration OF the
District Bankers Association will hold
the regular September meeting Friday
afternoon at o'clock at headquarters
in the Becker Building
Washington clearing house figures for
today: s3,742 ,o35.53.