Evening star., 1934-12-30
SHARP ADVANCES
SCORED BY BONDS
ON D. c. EXCHANGE
Every Issue Listed Has
Climbed to Higher Levels
During Last Year.
BARNEY BROKER OFFICE
MOVES TO SHOREHAM
Credit Men Predict Better Busi-
ness in 1935-Oppose U. S.
Central Bank.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Substantial advances in bond issues
on the Washington Stock Exchange
have featured trading during 1884.
The new era in Capital Transit earn
ings since the street car consolidation
was directly reflected in the bonds
which are connected with the COM
pany. Bonds OF other companies also
made q fine showing during the year.
With only one more trading day, there
will be few changes in present quota
tions.
Anacostia & Potomac Railroad first
IS. 1949. moved from a low of 49 to
78% during the year. Anacostia &
Potomac Railroad guaranteed SIS ad-
vanced from 94l2 to 10012. Chesa-
peake & Potomac Telephone first SIS
Of Virginia gained 3s4 points.
Capital Traction first IS came back
from 81 to 80. while City g. Suburban
first 5s climbed from "a to 78.
Georgetown Gas Light IS moved from
1885 to 1862. Washington Gas SIS,
1858, advanced from 80 to 99l2, and
Washington Gas SIS, 1860, opened the
year at l03& and closed at 1091a.
Potomac Electric Power bonds were
30 firm at the beginning of the year
that they scored only moderate ad-
vances. Consolidated SIS, 1886, opened
at 1929 and closed at 1852, while
Potomac Power general and refunding
IS started out at lot and moved up
to 1091z. Washington Railway &
Electric consolidated As made an
extra fine record. going from SO to
98la. the largest turnover in any local
bonds ceing recorded in this issue.
The substantial improvement in
these local bonds has meant much to
the holders, also to the banks in
which many are held as collateral on
loans. 1t is record to be proud Of,
exchange officials declare. And the
figures back up their claims.
Barney Offices to Move.
Charles D. Barney & Co, members
Of the New York Stock Exchange, will
transfer their Washington Offices to-
morrow morning from the Washington
Building to the Shoreham Building at
Fifteenth and H streets. Simultane-
ously the firm will inaugurate a tele-
phonic hook-up with the stock and
bond markets under newly patented
boards and specially constructed
equipment just brought to Washington
by the Chesapeake & Potomac Tele-
phone Co. The new apparatus will
permit recording Of actual sales of all
stocks and bonds on the New York
Stock Exchange. Similar equipment
In the New York offices, covering New
York Curb and other market activities,
will transmit quotations to the new
Washington offices by private teletype
wires.
This arrangement will eliminate all
telephone bells in the Barney Wash
1ngton offices. Light signals will reg
lister both local and long distance calls.
A switch system on each desk will en-
able any customers man to conduct
conversation with clients here or in
other cities, while both the stock and
bond operators listen in" to answer
instantaneously any question that may
be asked about the last quotations for
any security listed on the New York
Stock Exchange.
The bond board gives the exact date
on which any listed bond was last
sold, whether such sale was consum-
mated on the day in question, or a day
or week or a month in the past. 1t
gives the maturity, coupon rate and
call price on any bond listed on the
big Board" tells the corporations
earnings applicable to bond interest
requirements over five-year period
and gives the high and low prices at
which the bond has sold anDually dur
ing the same five wears
AL other existing brokerage and in
vestment facilities and the entire per-
sonnel Of Charles D. Barney & Co.,
Washington, will be available in the
new Shoreham Building Offices tomor-
row morning.
Credit Men Predict Upturn.
The Washington Association Of
Credit Men reported yesterday that "a
per cent Of the members of the Eco
nomic Credit Council of the National
Association Of Credit Men anticipate
better business conditions in 1885 than
existed in 1884. Only per cent be-
lieve they will be poor, and the re-
manning IA per cent feel that condi-
tions will be about the same next
year as during the past year.
AeSe Opinions are expTcSScu LII tIlc
sixth survey Of business conditions by
the associations council, whose men,
bership Is composed of $50 manufac-
turing. banking and distributing firms
located in every major market. Thirty
four are located in the East, ST in the
Midwest, rs in the South and % on
the Pacific Coast.
Besides expressing their opinions as
to the new years business possibili-
ties, the members reported on other
phases Of today's problems. Cues
toned as to what they consider the
most disturbing factor facing business
and Government today. the council
members listed, in the order of their
Importance, the following: Govern
ment expenses, unemployment, excess
sive taxes, unsettled money policies,
threats of imitation, foreign trade bar
riers, sectionalism within the United
States, high tariffs, bonus demands,
war threats and intense nationalism.
The question of whether the United
States should maintain the present
Federal Reserve set-up or develop an
entirely Independent United States
central bank was answered by every
member Of the council, 81 per cent
:being in favor o: the Federal Reserve
set-up as opposed to a United States
central bank.