Evening star., 1933-12-27

| m p oV e m n I e.
should continue
during 1884.
In line with the C. J. GockeIer
general confidence
now being manifested in President
Roosevelts national recovery program.
which has already brought about SO
many gratifying gains, the economic
situation is almost certain to continue
to improve during 1884. the head OF
the local exchange said.
President Gockeler called attention
to the fact that there are now near-y
as many Government workers in Wash
ington as there were during the World
War. That means that Washington Is
one of the most favored cities in the
United States the huge and constant
pay roll assuring period OF nnVlaole
prosperity ahead
Mr.. Gockeler believes that the N r.
A and score of other special Govern
ment recovery movements have now
primed the pump sufficiently so that
there will be a good flow of water dur
inp the coming year. Business and
banking will expand and prosper. es-
pccially in Washington, and the new
deal" will have tendency to strengthen
the issues listed on the Washington
Stock Exchange and bring about higher
prices.
It might be added that during the
last year many Washington issues In
both stocks and bonds have held up
great deal better than the securities on
many other exchanges. While trading
in 1888 has been of only moderate pro-
portions, Mr.. Gockeler and the other
officials of the exchange are much
pleased over the manner in which prices
have acted in both the stock and bond
divisions. Several local bonds are SELL
ing far above par. The same is true
of stocks, some being well over SlOO
per share
Quotations on the leading issues are
not far from the high for the year.
That fact alone will give 1884 a guod
start.
Building Permits Advance Sharply.
A &c per cent increase in residential
building permits issued during Novem
Der, as compared with the previous
month, was reported yesterday by the
Labor Department, according to the
Associated Press.
The Bureau of Labor Statistics said
the gain was due to permits in New
York for S8,000,000 worth of new apart
ment houses.
The estimated cost of all buildings,
however, was S35, 781 in November,
against $39 9,512,975 in october.
AS compared with November, 1882,
the residential building permits in
creased 1873 per cent, the bureau said.
The monthly report, which covers
76O cities with a population of 10000
900 or more, also showed an increase
of 22.2 per cent in the number OF new
buildings.
The total estimated cost of residen-
tial buildings for which permits were
issued in November was given as S13,-
768,765. compared with S8,278,l27 IN
October
, There was. however, a 216 per cent
decrease in the estimated cost of non
residential buildings, resulting in drop
in the estimated cost of all buildings
during November of 88 per cent.
Non-residential buildings for which
permits were issued were estimated to
cost s13.278,063 in November, as COM
pared with $l6,943,l78 in October.
New Stock Exchange Member.
The board of governors of the Wash
1ngton Stock Exchange today elected
Paul P. Rodler of W. B. Hibbs & Co.
Q member Of the exchange,
Mr.. Rodler is cashier Of the New
York Stock Exchange firm and has been
with the company since 1916 He was
born and has always lived in the Ma
tiOnal Capital.
He studied law for two years at the
Georgetown University Law School, but
decided that he preferred a financial
to a legal career. His progress since
he joined the staff of w. B. Hibbs &
Co. has been marked, officials of the
company said today. He is the first
new member elected TO the exchange
for some time.
Trading on the Stock Exchange
today included sales in Potomac Elec-
trio Power per cent preferred stock
at l09 and in the 51a per cent issue
at LOG. Washington Railway g. Elec-
trio came out at 821a.
Only one bond sale was recorded
today, $500 Washington Gas Light SIS
of 1860 changing hands at 103.
d. c. Bank Declares Dividend.
The directors of the National Bank
OF Washington declared a Semi-annual
dividend of SO per share at their reg
lllar monthly meeting held today. The
dividend is payable January 2, to share
holders of record December 81. Trans
fer books will be closed December q
and reopened January 10.
Peoples Drug Sales OFF Slightly.
Sales of Peoples Drug Stores, Inc,
in November totaled ST 1,228,854, against
S12486l0 in the like period year ago,
a decrease of S19,756, or Is per cent,
it was announced today. Sales for the
first II months of the present year
amounted to $13827,238, against S14,-
486 646 in the same months last year,
a small drop of AS per cent.
The Baltimore & Ohio Railroad re-
ported a net railway operating income
in November of $685. .349, compared
with 81 l,602,913 in November, 1882, a
decrease of S63, ,564. For the first IL
months of 1888 net railway operating
income was S27,222.678, against $40
1881, or a gain in earnings Of
ST090867.
Secretary of the Treasury has invited
tenders for Sl00,000,000, or thereabouts,
of 91-day Treasury bills. to be sold on
discount basis to the highest bidders.
Tenders will be received up to pm.
(E. S. TD Friday, December %. Bills
will be dated January 3. 1884, and will
mature on April 4, 1884.
The Wall Street Journal today makes
a special feature of the first payments
by the New York banks into the fund
for the insurance of bank deposits up
to S2.500 which goes into effect on
January l. The National City Bank has
made one Of the largest payments today.
Several Washington banks have al
ready sent their checks to the Federal
Insurance Deposit Corporation and are
ready to put the new plan into effect
here at the beginning of the new year.