Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-31
Totals, ssls,e4e,15s ss2s,s7s,l72

Today's Trading on ID. C. Exchange.
Bonds took the lead in trading on
the Washington Stock Exchange today
with an extra large turnover.
Washington Railway g. Electric Is
were the most active issue on the board,
opening at 89& and closing at 89ls.
Capital Traction SIS changed hands at
80 and washington Gas SIS at 1854.
Washington Gas IS, series A, also
appeared on the board, and Potomac
Electric Consolidated IS also came out,
selling at 103Iz.
In the stock division Potomac Electric
Power 51k per cent preferred came out
at 1908 and there were several good
sized transactions in Mergenthaler at
SO and 857s. Washington Railway &
Electric preferred moved at 80.
The exchange was interested today
IN the annual report of the Carpet Cor
poration. The profit and loss statement
for the year ending December 81, 1880,
issued by the corporation showed net
profits, after provisions for income tax.
In the amount of $97, 400. 06, or a net
cent on sales Of the year, which
amounted to 81. 900 ,6632S.
Change in Interest Rates.
It was reported in the financial dis
trict today that the Washington Clear
ing House Association is planning to re-
duce interest rates on demand deposits,
following an important meeting of the
members of the association last night.
II. II. Mckee, president OF the Clear
ing House Association and also of the
National Capital Bank, said he would
issue statement covering the action Of
the association on this matter.
Reduction of interest paid on check
ing accounts has been under discussion
among Washington bankers for several
months. Such action has already been
taken by the clearing house associations
in several of the largest end most inn
portant financial centers In the country.
ANY action here viii be in line with
that taken In other cities and for the
same reasons.
Banks which are paying per cent
on checking deposits can get but u
per cent interest in the New York call
money market This naturally puts them
on the wrong side of the ledger so far
as profits are concerned. Bankers have
been hoping for higher interest rates
on the money which they put out, but
at present rates are not going up. Until
rates do improve, bank officials feel
that some readiustment in the rates is
both justified and necessary.
wholesale Prices Steady.
Inc weekly wholesale price 1Q0GA Oh
the National Fertilizer Association, con-
sisting of 476 commodity prices, declined
3 fractional points during the week end
ed March %. During the preceding
week the index number declined 6
fractional points. The index number
now stands at TAO, compared with 752
last month and 91.4 for the correspond
ing week year ago.
Building materials alone, Of the IA
groups in the index, advanced during
the latest week: Of the groups de-
clined, while were unchanged. The
groups that declined were metals, other
foods, fats and oils, fuel Including Pc
troleum and its products), chemicals
and drugs, fertilizer materials and mis-
celianeous commodities. The largest
drop was shown in the group of chemic-
ais and drugs.
Declines were noted in the prices for
30 commodities, while the prices for Is
commodities showed slight gains. Lard,
butter, cheese, flour, cotton, silk, steers,
lambs, hay, finished steel, copper, sill
yer, petroleum gasoline. kerosene, alco-
hol. coffee, rubber and tankage declined
Slight advances were noted in the
prices for wool, cottonseed meal, hogs,
tallow, corn, oats, wheat, sweet potatoes,
rosi:l, turpentine, calfskins and hemp.