Evening star., 1934-09-20

Al0 OoOH" VI" COrcoran Thorn.
October to Is inclusive, President
George w. White announces.
The board of directors of the Amer
lean Security e. Trust Co. at the reg
ular September meeting, declared a
quarterly dividend of per cent pay
able October 10, to shareholders OF
record at the close of business Sep
tember 90.
Directors of Woodward g. Lothrop
have declared a quarterly dividend OF
80 cents a share on the common stock.
payable September 27 to holders Of
record September "a and the regular
quarterly dividend of rs a share on
the preferred stock. payment and rec
ord dates being the same as on the
common. Notice of these two divi-
dends has Just been forwarded to the
Washington Stock Exchange on which
both issues are listed.
Woodward g. LOthrop was one Of
the first corporations to send its ap-
plication to the Washington Exchange
asking for temporary registration with
the National Securities g. Exchange
Commission. The last sale of the
common stock on the local board was
made at 26. while the preferred sold
the other day at S11O a share.
CorcOran Thorn Back at Desk.
Corcoran Thorn. president of the
American Security & Trust Co, has
returned to his Office from his annual
vacation. Along with other places
visited. Mr. Thorn passed considerable
time at his Summer home in New
Hampshire
Washington banks have received
notices of the reasseSSment Of Fed
eral Deposit Insurance Corp. member
banks. made necessary by the newly
raised account limit of $4,000, and
by increase in deposits. which will
soon be carried into effect by the
Government agency.
AS basis for this action, the corpo-
ration has requested all affiliated in
stitutions to file before October Is
reports giving the status of deposits
as of october l.
The reassessment, it was explained
by officials, does not constitute any
additional levy for deposits which have
already been insured, but only upon
the new or increased deposits which
are shown to have come in to the
banks since the original assessment
was made. The assessment on in
creased deposits will be the same as
that on the original deposits of l
per cent.
Real Estate Sales Improve.
The most consistent increase in real
estate activity in the past year has
been in the South Atlantic States
delaware, Maryland, District of Co.
lumbia. Virginia. West Virginia, North
Carolina, South Carolina, Georgia,
Florida. In "a per cent of the re-
porting cities in that area, the real
estate market is more active than a
year ago. Sales are higher than last
year in over rs per cent of the report
ing cities in the Southern and West
ern States.
With this improvement, values have
tended upward. Selling prices are
generally higher in those areas where
real estate sales have shown the great
est gains Cities of over 100000 pop
ulation show the most general in
crease in activity.
The trend of rents is upward This
is evident from many sources. in the
survey under review, rentals for single
family residences are found to be
higher than year ago in 49 per cent
of the cities, equal to last year in AZ
per cent and under 1923 figures in
only 9 per cent. Apartment rents are
up in 35 per cent, unchanged in 81
per cent and down in per cent.
Rents on two-family dwellings are
higher than year ago in 80 per cent
of the cities A stabilized rent level
is evident in business property in most
cities. In the case of centrally located
properties, however, there have been
more increases than reductions.
Greater activity in subdivision de-
velopments is now apparent. Whereas
year ago there was a distinctly de-
clining trend in this field, IA per cent
of the cities now report increases. The
trend is most favorable in the South
Atlantic East South Central and West
South Central sections, latest reports
state.
control commissioners Return.
Chairman Joseph P Kennedy and
the members of the Securities EX-
change Commission were back today
from their inspection of the New York
Stock Exchange in actual operation.
After looking over the big board, Curb
and Produce Exchanges, they visited
the brokerage Offices Of E. A. Pierce
& Co. to get still another angle on
business operations.
Brokers here expressed pleasure to-
day over the statement of Chairman
Kennedy that relations between the
commission and exchange are 100 per
cent harmonious" The commission
will give short selling further con-
sideration. while rules dealing with
reports to be filed by holders of more
than 10 per cent of any registered Sc
curity have already been eased. Chair
man Kennedy does not see that any
rules so far promulgated should
cause any drying up of business in
the stock market
The securities act of 1888, Mr.
Kennedy said. will be given further
study with the hope of suggesting
changes Wnlcn Will make II more
practicable and less cumbersome.
Over-the-counter trading will be
given more consideration, he said, and
it appears likely that margin require
ments will be left largely with the
Federal Reserve Board.
TOdays Trading on Exchange.
Trading on the Washington Stock
Exchange today almost made record
for dullneSs. The days business was
confined to Mergenthaler Linotype,
three 10-share sales taking place at
%, gain of 4 over yesterdays close
The stock closed with 1924 bid and %
asked
Capital Traction r. R. IS which
sold yesterday at 90ls, making a new
high mark for the past five years,
were quiet today The bid was go
but none of the bonds were offered.
Bids in the leading stocks and bonds
remained strong. The bid on Capital
Transit stock remained at 26ls but