Evening star., 1932-08-18
D. c. STOCKS MOVE
TO HIGHER LEVELS
Advance Has Not Kept Pace
With New York Market,
However.

The Washington Stock Exchange,
which is considered to be substantially
an investment, rather than a specula-
tive market, still continues the even
tenor of its way in small volume OF
trading, but the prices of its securities
have risen gradually at somewhat less
acceleration than that evident on the
New York Exchange.
1t was pointed out today by those
closely in touch with the local exchange
that the optimism which has buoyed
the New York market has been reflected
here also, although, to a more con-
servative extent. Sentiment here is
now entirely different" said one finan-
cial expert today, but prices here are
still out of line with New York"
Trading today, for instance, on the
local exchange was confined to three
issues. Washington Gas Az notes,
which had not changed hands in some
weeks, sold at 81, as compared to "a bid
some time ago. The transaction was
$4,000 Potomac Electric 6 per cent
preferred went at 100, as compared to
1912 bid yesterday, and the 5l2 per
cent preferred of the same company
went at 1882, a fraction up from yes
terday.
To further indicate the upward Jlend
of local securities it was pointed cut
today that Washington Railway &, Elec-
trio preferred, which some time ago was
down to 78, is now up to around Sc, but
with little stock moving.
AS compared to this, United Gas and
Improvement per cent preferred on
the New York Exchange, which had
sold as low as 70 has gone up to SO,
and Consolidated Gas 5 per cent pre-
ferred, which was down to 72l2, now is
selling at around 80.
While Washington securities did not
suffer the extreme lows to which those
on the New York Exchange dropped,
it was said today they have not yet
reached the relative level achieved al
ready by comparable securities on the
big board.
Other Changes.
Apparently there seems to be little
interest in trading in Capital Traction
: stock, which was as low as 6, but
. appears to be in some demand now
around or 8. Capital Traction per
cent first mortgage bonds about six
weeks ago were selling around 40, but
are now in demand at SO, with none
changing hands.
Washington Gas Light Co. stock has
moved up from low of so to about 60
bid, but the lowest offering is IS.
Washington Railway & Electric As,
1851, have sold up from 79 to 83.
- Paper Industry.
There is more activity in the paper
industry, according to Dun's Review
Since the beginning of August many
paper mills have increased production,
with some manufacturers operating on
four to five day schedules, due to
heavier accumulation of orders than has
been noted at any time during the year.
Mill agents representing fine paper
manufacturers are experiencing a
broadening of demand for book papers,
bonds and covers, and other lines con-
sumed in direct mail advertising, in
view of the wider campaigns which are
scheduled for Fall.
Building Permits.
Washington stands in ninth place
and Baltimore in fifth place in list Of
Is cities reporting the largest volume of
building permits for the month OF July,
1882, according to a survey prepared
by S. w. Straus & Co., of New York.
Contrary to the general trend for the
25 cities which showed a gain from
: June to July. this city showed decline
. from s1,4o3,3 $40 for June to s648,570 for
. July. This compares with $2,303,ll5
: here for July, 1881, and the still larger
: 50 ,356,570 for July, 1880.
The rs cities as group reporting
: the largest volume of permits for July,
! show an increase of 16.5 per cent over
: June, 1892, a decline of 69.3 per cent
from July, 1881, and a decline of 80.8
) per cent from July, 1880.
= Six of these cities made individual
>gains over July. 1881, Milwaukee, Buff
: falo, Des MoineS, Louisville, Union City
and Salem. Five cities registered ad-
.vances over July, 1880, Des Moines, New
Haven, Louisville, Union City and
salem.
- The survey also shows that building
permits in $50 cities and towns of the
.. country during the month of July, 1882,
amounted to $32, SOC, 1856, 14.2 per
cent decline from June, 1882, when the
, volume for these cities were $37, ,90l ,513,
: as compared with normal seasonal
expected decline of 1871 per cent. Per-
mits issued during July, 1882. fell 72.3
f. per cent below the same month of 1881
for the $50 cities and towns.
. New York City led the list Of cities,
and New York State led the States.
. The city of Baltimore, which ranked
fifth among the larger cities, showed a
gain from S963720 in June, 1882, to
81 ,o22, 400 in July. 1882, as compared
to s4989,12O in July, 1881, and ST.,
.55876o in July, 1890.
New Treasury Issue.
Acting Secretary of the Treasury
,Ballantine announced the Treasury will
sell about S60,o00,000 in 91-day bills,
.offers to be received at the Federal Re-
I.serve banks up to 2 o'clock next Mon
;day. The new bills will be dated Au-
gust "a. and will mature November %,
when they will be payable without In
'terest.