Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-08-20
TRADING IS LIGHT
OND. c. EXCHANGE
Few Changes Noted in Lead
-" ina Stocks-PeopIeS'
Drug Steady.

= Trading was light on the Washing
Ton Stock Exchange today, with Mer-
genthaler, whose regular quarterly
dividend of $3.50 was announced yes
terday, selling at 1872.
Potomac Electric 6 per cent preferred
vas off a point from hast prior sale, to
Ill u, while the 5 - per cent preferred
of the same company sold at ITO, a
fraction down and construction SIS,
also of Pepco went at los, also frac-
ton lower.
Peoples Drug Stores preferred sold at
1882, same as last prior sale,
Investment Trusts.
A detailed ANALYSIS of mid-year state
ments of reporting general management
investment trusts discloses that rep
resentative number of these units made
relatively satisfactory progress during
the first six months of 1881. says the
Standard Statistics Co. of New York, in
a current survey, which continues in
part:
"On the average, the decline in net
assets of the trusts studied was Id per
cent during the term, as compared with
a decline of 3.3 per cent in our stock
market index. Because Of Leverage
possessed by certain of the common
shares included in the compilation, the
decrease in hquidating values, on aver
age, was slightly higher (2.78 per cent?
but this also compared favorably with
the decline in the stock market.
The evidence presented shows that,
except for a few Isolated cases. domestic
general management investment trusts
were creditably operated in the first half
of the current year. This marked the
first period since the inception Of the
bear market that a representative num-
Der of the instruments g out of 49, q,
despite adverse market trends. sue
ceeded in recording a gain in net assets.
Three of the trusts, moreover, showed a
gain in net asset values after having
maintained dividends on their common
stocks in both the first and second quar-
ters."
Advertising Pays.
Aggressive advertising, bumper crop
of near-record proportions, combined
with a firm price structure are among
the factors which are beneating the cit
rus fruit farmers of California, accord
ing to The Business outlook, published
monthly by the Wells Fargo Bank &
Union Trust Co. Of San Francisco.
Sees Business Turn.
Final records Of business transacted in
July present evidence which. according
to Gage P Wright, New York business
counselor and president of The Business
Economic Digest, justif1es the inference
that some industries have already
turned the corner Of the depression. The
consensus of the published economic
opinions OF the country, Mr.. Wright said,
was fora brighter outlook in September
and October despite the drop in the
various induces of business activity for
the month Of July.
The Consolidated Index of Business
Activity, which represents composite
OF all well known indiceS, fell from 721
in June 10 709 In July" says Mr..
Wright Not only does this represent
an actual decrease IN activity, but it
shows, as well, a decrease in excess of
the usual seasonal decline TO be expected
in July. On its face, this is a bad
showing, yet am inclined to agree with
the consensus Of opinions that better
things are in store for September and
October"
Personal Mention.
Joseph d. Yerkes. assistant cashier of
the Federal American National Bank
& Trust Co. Is on vacation.
John NJ. Riordan, executive vice pres
ident Of the Bank Of Commerce g. Saw
ings. is on vacation at Nantucket. r. I.
William j. Father, vice president of
Riggs National Bank, who is on vaca-
ton at Poland Springs, Me, is ex-
pecting TO return to Washington Au-
gust %
John b.. Howard. president of the
Seventh Street Savings Bank, is on va
cation at Asbury Park, n j., from
which he viii take a short cruise and
motor trip before returning to WASH
ington late next week.
Miss Mary j. Winfree, assistant
cashier Of Commercial National Bank.
viii return Monday from vacation.
Washington Clearing House figures
for today. S3,s45,70l.sI.