Evening star., 1934-09-14
EXCHANGE HELPED
. BY REGISTRATIONS
Applications Must Be Sent
to Federal Commission
Tomorrow.
BY EDWARD c. STONE.

BY EDWARD C. STONE.
oficials of the washington Stock
Exchange were happy today over
the very high percentage Of corpc-
rations which have filed applications
to have their securities registered
with the Securities and Exchange
Commission under the temporary
regulations.
These applications must be turned
over to the Exchange Control Com
mission tomorrow, September Is.
More applications were expected by
the Washington exchange officials
today so that these companies also
win get under the wire. Practically
all the issues on the local board. in
which there has been recent trading,
already have been entered in the
registration list.
The fine response to the registra-
ton call means that business on the
exchange will go on without inter-
ruption, officials state, and that the
recent increase in the number of
transactions is likely to continue.
Since September the volume of
trading has displayed marked i'm
provement.
The registration matter was placed
in the hands of a special committee
which consisted of Karl w. Corby,
Y. E. Booker, James M. Johnston and
Myles H. Quail. President C. j.
Gockeler expressed high praise today
for the fine work accomplished. The
committee also applied for registra-
tion Of the Washington Exchange,
one Of the first to file papers with
the Control Commission.
Up to this morning LAO corpo-
rations having securities on the New
York Stock Exchange had asked reg
istration, while in Chicago only 16
companies out of 263 with stocks
listed and only SO out of 81 with
bonds listed had failed to file appli-
cations. Baltimore also reports
wide response.
Liberty Bonds Exchanged.
The conversion operation In the
fourth Az Liberty bends is going
forward satisfactorily, Secretary
Morgenthau states. at the same time
announcing that the books on the
notes and bonds which may be taken
In exchange for the Liberties will re-
main open for some time.
It is stated that the fourth Liberty
bondholders who failed to take advan-
tage OF the conversion offer win be
paid on In cash out of the cash bal
ance In the Treasury. which now
amounts to s2,084. 4.0oo, 900.
Mr.. Morgenthau stated officially
that the books will remain open on
the 21s per cent Treasury notes and
the 34 per cent Treasury bonds "un-
til further notice." but indicated that
there was no intention of Immediately
closing the offer.
Margin Changes Presented.
While in Washington yesterday ON
cials of the New York Stock Exchange
offered the Federal Reserve Board
changes In the latest draft in margin
regulation In order to prevent the
possible freezing" Of existing ac-
counts. More fiexibility In the rules
Is requested In order to accomplish
this result.
The Federal Reserve Board reports
that the new regulations win be is
sued in the very near future. This is
understood to mean about the middle
Of next week. Earlier the board had
hoped to get the regulations out by
September Is.
A new draft of the regulations was
sent out to officials of the exchange
and brokers week ago for their COM
ment and suggestions. The meeting
called yesterday was to hear exchange
oficials' views and discuss any pos
sible changes which might be pro-
posed in this latest version.
Chairman Joseph p. Kennedy of
the Securities and Exchange Commits
sion was also present at the confer
ence. Richard Whitney headed the
New York delegation.
American Store Sales Up.
Detailed figures from the latest re-
port Of the American Stores Co. show
sales for the five weeks ended Sep
tember / totaled $10,298,271 against
$9,900,972, an increase of $397 ,299 or
4 per cent. For the first eight months
of this year sales amounted to $76,-
552,353, compared with $72.436, sos in
the like period last year, an increase
of $4,ll5,668. or Sc per cent. The
August showing was better than the
last previous report which noted dur.
ing the four weeks ended July 20 an
increase of 09 per cent compared
with the same weeks last year.
The ratio of payments on open and
mstallment accounts in department
stores showed decrease of a sea-
sonal nature from June to July, ac-
cording to the Department of Com
merce. Collections were 40.7 per cent
on open accounts and Is per cent on
installment accounts for July, COM
pared with 1873 per cent and 16 per
cent, respectively, in June.
These totals on retail collection
conditions are based on the credit
operations of approximately 400 de-
partment stores reporting data on
open accounts and $50 reporting on
installment accounts.
Heard in Financial District.
Washington Railway & Electric pre-
ferred figured In six sales on the
Washington Stock, Exchange today,
totaling 70 shares, all at 99%. The
remainder of the trading was con-
fined to Mergenthaler Linotype, three
10-share lots changing hands at 23A
Chesapeake & Potomac Telephone
Co. of Baltimore reports telephone calls
originating in Baltimore during Au-
gust, including toll and long distance,
totaled 1867 500, an increase of 1.19
per cent over August, 1888. In the
first seven months telephone calls ag-
gregated 1l3,509,781. compared with
108,319, ,794 in the corresponding period
OF 1888, an increase of 4.79 per cent.
New life insurance sales during Au-
gust increased 1.6 per cent over the
like month of 1898, while production
for the first eight months this year
showed an increase of 1913 per cent
over the corresponding period last
year, according to the Association of
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