Evening star., 1933-05-16
BROKER BUSINESS
SHOWS SHARP GAIN
Local Board Rooms Crowded
as Public Returns to
Market.
BY EDWARD c. STONE.

Both investors and spectators are
entering the stock and bond markets
in increasing numbers, local brokers re-
ported today. Crowded board rooms
indicate as much and similar reports
come from many other cities.
The increased volume Of trading
shows a large amount of buying and
selling in addition to Wall Street pro-
fessional trading Local offices are
filled daily and standing room is at a
premium during most of each days
business.
Traders are constantly discussing the
increased demand for steel. higher
prices, improvement in freight car
loadingS, larger power output, gain in
automobile sales and corporate earn
ings, as well as the broad price ad
vances in wheat, cotton and other COM
modities
However, local investors and specu-
1atorS are said to be cautious in what
they buy. In 1929 it was claimed that
any trader could throw paper wad at
the quotation board. note what it hit,
buy that stock and be certain to make
money. But nobody is using those tao
tics now. Shades of the past are still
too vivid. Caution is the word.
But that wide market interest has
developed here in the past two months
is unmiStakab,e. The stock ticker Is
very much back in the limelight. The
Washington Stock Market has caught
the spirit of revival and it, too, is en-
Joying the new DEAL in investment
activity.
Wholesale Trade Picking Up.
The Federal Reserve Bank of Rich
mond reports that wholesale trade is
better than seasonal with the demand
for clothes, cotton and hardware great
ly improved. Retail and wholesale
prices are developing an upward tend
ency in the fifth Federal reserve dis
trict, the report adds.
So far in May employment has been
better than it was in April, numerous
small plants having added to the pay
rolls, while some Of the larger ones
have also increased their forces. Build
ing remains very Slow.
To the south of the fifth district,
Atlanta says that both trade and pay
rolls increased substantially last week,
hundreds of unemployed having re-
ceived jobs. Leading department stores
reported the largest volume of business
in months, the buying movement being
especially notable in automobiles and
furniture.
In its weekly review covering the II
Federal reserve districts, the New York
Times refers to minor business
boom" as in progress in virtually every
section of the country. The summary
adds that in several instances the
standard indices have turned upward
and crossed the downward lines of
II months ago and in some cases have
advanced even above the levels of the
Summer of 1881.
The recovery is based principally on
the stiffening of prices, which, the re-
view says, is regarded as bidding fair
to become permanent, with the pos
sibility of a managed currency imitation
and with credit expansion already
under way. Additional factors are long
delayed buying of goods by individuals
and the small inventories of retailers
in almost all lines.
Road Earns S345 a Share.
Western Maryland Railway has is
sued its pamphlet report for year ended
December 81. 1882: General balance
sheet as of December 81, last, shows
with S175,322701 on December 81.
1881, and profit and loss surplus of
S22.157149, against S20,385 ,879
Income account for year 1882 shows
net income of S612892 after taxes and
charges. the same as reported in pre-
liminary report, equal to s3.45 share
on 1T7,420 shares OF per cent first
preferred stock on which no dividends
have been paid. This compares with
S1011012, or $50 a share on first
preferred stock in 1881.
Income account for year 1882 COM
narac &C follows.