Evening star., 1932-09-14
WASHINGTON Stock
YIELDS ARE HIGH
Public Utilities and Other
Groups Pay Good Inter-
ct Get &C Investors.
BY EDWARD C. STONE.

BY EDWARD c. STONE.
A glance at quotations on the WASH
ington Stock Exchange reveals some
very interesting yields on several lead
ing local securities Yields on New York
stocks have recently come down rapidly
as prices have gone up Comparatively
few changes in yields have taken place
in Washington securities as prices have
been steady.
In the public utility group, Washing
ton Gas Light stock last sold at 80,
making yield of To per cent. Potomac
Electric Power per cent preleIreo a'
lO7l5 yields SIS per cent while the cor
poration's per cent preferred gives
return of SO per cent on sales at l03A.
Washington Railway & Electric pre-
ferred. which last sold at 1872, yields
per cent on the investment.
In the miscellaneous group, Federal
Storage preferred yielded 10 per cent
on the last sale made at 80. Another
high Weld is recorded by Lanston Mono
type. At So this stock yields 1O.3 per
cent. The last exchange sale in Mer.
penthaler Linotype meant a yield OF
is per cent on the investment while
Peoples Drug Stores 6l2 per cent pre-
ferred stock is now selling to return
per cent.
Real Estate Mortgage 81 Guaranty
preferred sold not long ago at Az. AS
it pays 60 cents year, the present ylelo
is Ia per cent Woodward q Lothrop
nreferred at lot yields 65 per cent. The
highest income in the list. however,
comes from Carpet Corporation. Ine
stock last sold at and on S2 year
basis return % per cent.
Bonds Paying Good Returns.
Returns on some of the local bonds
ore also equally interesting. The high
EST Weld in this list is found on CITY
r. Suburban first 5S, 1948, and Capl-
tai Traction first SIS, 1947, both ylelo-
ing 124 per cent at recent price leVels.
Another exceptionally high return Is
found on Anacostia q potomac rive
Railroad first IS, which yield III per
AS high yields are not the basis on
which the most conservative invest
an equally interesting study. Ana
costa e. Potomac River Railroad guar
snteed S. Weld 6 per cent. Chesapeake
& Potomac Telephone of Virginia 5S
return . per cent at present 1eVe!s
and Georgetown Gas Light hrSt oS give
a return of SIS per cent.
Potomac Electric Power consondateo
IS yield 4.25 per cent and the same
corporations per cent bonds return
5.45 per cent. washington Gas 412s,
which have recently been so active, have
a Weld of over per cent. Selling at
par Gas SIS return 5 per cent, Gas
IS, series A, pay rs per cent and Gas
IS, series B, now return practically the
same per cent. Other bonds, such as
Chevy Chase Club 512s, are also giving
full return on the investment, as they
are at par.
Local bank stocks have made good
showing through the depression. MOST
of them have maintained their former
dividends, but in some cases without
voting any extras, as they were doing
before the recession in business. Their
yields are naturally conservative.
n. Y. Stock Yields Sharply Lower.
The rapid advance in the stock mar
ket has reduced substantially the
average yield on all cash dividend-pay-
ing stocks on the New York Stock Ex-
change, according to the monthly COM
pilation prepared by Moodys Investors
Service On September / the average
yield was 76o per cent, against 10.41
per cent on July 80 and 1857 per cent
on May 81, the high point for the de-
preston.
In the past three months" says
Moody's, the average yield has fallen
to the lowest levels since June, 1881.
Thus, in this comparatively short
period it has lost all of the rise of the
preceding IL months. Most Of the de-
crease has, of course, been due to the
dend reductions have also been partly
responsible for the change"
In a separate compilation of the
dividend rate per share, based on 600
identical stocks, Moodys states that
while August dividend reductions were
larger than in July. nevertheless they
continued on materially reduced scale
from that prevailing in the first six
months of the year. The index fell
from s1.31 per share on July 81 to 125
on August 81.
Wayne W. Putnam, assistant vice
president and assistant secretary of the
Union Guardian Trust Co., Detroit, has
resigned his position to become con-
nected with the Washington office of
the Northwestern Life Insurance Co.,
according to announcement by General
Agent Philip l.. Baldwin.
Before becoming a bank official, Mr..
Putnam was Guardian Trusts director
of public relations. He is a graduate
of Wooster College, Ohio. He also took
a years postgraduate work at Harvard
During the var he was an organizer for
the United States Food Administration
and before taking his Detroit position
was with the Alexander Hamilton Insti
tute for seven years. He is especially
interested in life insurance trusts.
ID. c. Bonds in Good Demand.
Local bonds we're in the best demand
on the Washington Stock Exchange to-
day, the market opening with $1,000
Potomac Electric Consolidated SIS selling
at 1O234. Washington Gas Light IS,
series B, were also strong, two $500 sales
taking place at 1925 Washington Rail-
way & Electric 4s appeared on the board
again today, $1,000 moving at S4l2,
The final sale was in Gas IS, series A,
81 900 changing hands at 1914. Wash
ington Gas 4l2s, which figured in a
$4,000 turnover yesterday at 98, were
Only two Stock sales were recorded.
Five shares of Potomac Electric Power
51s per cent preferred came out at
103s4 and ten shares of Capital Trac-
tion sold at 6la, the same as yesterday S
price.
Edward L. Hillyer, president of the
exchange, was back today from a trip
to the Pacific Coast. During his absence
Christopher j. Gockeler, vice president,
has been in the chair.
Dividends and Other Notes.
Directors of the Emerson's Bromo-
Seltzer have declared the regular Sc
cent quarterly dividend on the A and
B stocks. The A stock is listed on the
local hoard Both dividends are pay