Evening star., 1934-12-21

m rOVeIIleIlI III
conditions in c. J. Goekeler.
Washington" Mr..
Gockeler said, which, am confident,
will be continued during the coming
wear. The stability of our local issues,
their reports of increased earnings and
dividends will make local stocks and
bonds more attractive to the careful
investor.
Renewal of confidence expressed in
the street for the New Deal will tend,
I believe, to promote the general
activity of our Washington Exchange.
The increased business reported by
local merchants naturally means IN
creased profits, and no doubt part
of this larger income will be invested
In the strong securities listed on the
exchange.
THE elimination of the street rail-
way merger during the past pear and
the declaration of dividend by the
new Capital Transit Co. should be
noted by investors in Washington"
the exchange president added, "as
well as the upward trend in the COM
pany's earnings.
Heg1Stry Aus EACHdhSC'
'"The Washington Stock Exchange
was one of the first exchanges in the
whole United States to be registered
for trading by the new Securities and
Exchange Commission. The require
ments exacted by the commission OF
their member exchanges will tend 10
safeguard investors to the hlgheSt
degree.
"The record of prime issues Oh the
Washington Exchange during the past
year has been particularly good:
Prices have been well supported and
there have been many advances. 1t
Is also worthy of note that prices on
good securities here did not drop
nearly as far as great many issues
on the New York Exchange did at
the time of the break or afterward.
Exchange officials are justified IN feel
ing proud of the way that the best
stocks and bonds on the board have
acted during the past year. That
record augers we'll for the future"
Mr.. Gockeler has been president OF
the Exchange for the past two years,
was secretary several years and is an
official in the Hamilton National
Bank.
Christmas Clubs Are Booming.
Christmas savings clubs in the
Washington banks were reported to-
day as starting more new member
ships than they had at the same time
last year and a survey revealed that
the amounts being subscribed are
also larger While the time for join
ing the 1885 clubs runs into January,
it is already evident that last years
records both for members and
amounts will be exceeded.
The increase in population in the
Capital during the past year is one
reason given for the growing interest.
General improvement in business con-
ditions is another. A third reason
voiced by new subscribers is that they
expect to see restoration Of the Gov
ernment pay cut in the near future.
The prospect of an increase in 1rcome
has motivated many to turn to the
popular Christmas savings clubs.
When the 1885 totals are available
there are likely to be some real sur
prises on the way the clubs have
swung back toward the former thrift
peaks.
Fleming on Recovery Board.
Robert v. Fleming, president of the
Riggs National Bank and first vice
president of the American Bankers
Association, has been made a men,
ber of the Business Recovery Board
lust chosen by the business leaders
in session at White Sulphur Springs.
Thomas w. Brahany, manager of
the Washington Office of E. A. Pierce
& Co., is in Florida on short vaca-
tion.
Securities and Exchange Commis-
sion has granted the application of
Peoples Drug Stores, Inc, for regis
tration on the New York Stock Ex-
change of 122,737 shares of unissued
common stock. The stock is to be is
sued as a 100 per cent stock dividend
and will be quoted ex dividend Mon
day, December 81, the Exchange has
ruled.
In the first II months of this year
the Chesapeake g. Ohio Railroad
earned 1886 on the common stock,
against $3.40 per share during the
like period in 1888.
Lively Day on d. C. Exchange.
Trading was broad on the Wash
ington Stock Exchange today, first
sales being in Potomac Electric Power
51a per cent preferred, at Ill and
11OA. The per cent preferred
moved at 109% and ".
Railway & Electric preferred sold
at 100%, y and as where it closed.
Carpet Corporation stock appeared on
the board today, Is shares selling at
u. Several sales in Mergenthaler
Linotype were recorded, the stock
opening at 32A and closing at 81
fiat.
Capital Transit Company stock
brought 265s. A small sale of Riggs
National Bank common stock took
place at 212.
Woodward & Lothrop common and
preferred stocks were added to the
ex-dividend list today, following the
recent dividend declaration.
Acacia Plans Yule Party.
The annual Christmas party, at
tended by officials and more than 400
home Office employees, will be held to-
morrow by the Acacia Mutual Life In
surance Co. The affair will include a
minstrel revue, sketches by the en-
ployes, an address by President VIII
liam Montgomery, a luncheon given
by the board Of directors and COM
munity carol singing.
Also, as part of Acacia's Christmas
activities, more than $50 baskets of
foodstuffs, contributed by the COM
pany's employees, will be distributed
to needy families.
Personnel of the committees is as
follows: William Montgomery, hon.
orary chairman: Program. Burt Lang
henry; Music, Laura Daugherty and
Eta Miller; Properties, Ernest Rice,
Lloyd Bauman, Jack Blades, Emil
Loehl and Clayton Speakman; Lunch
con, Katherine S. Carper and Ella
Purks; Children's Party, Katherine 8. |