Evening star., 1935-02-19
INVESTORS CROWD
BROKERAGE ROOMS
Gold Decision Discussed.
Banking Bill Cited as
Retarding Factor.
BY EDWARD c. STONE.

It looked like old times in the bro
kerage houses today, the board rooms
being crowded long before the New
York Stock Exchange opened.
The gold clause rulings were the
sole topic of conversation as the tick
ers started reeling off the days quo
tations. The opening was lively.
Few brokers today predicted any
sharp advances on the stock exchanges
but expressed the view that the trend
should remain upward and that the
rulings should prove helpful.
The decisions lift burden from the
financial world. The mere fact that
the Supreme Court action has finally
been announced was stressed today
even more than the nature OF the
findings.
Brokers, however, make the point
that there are lot of other factors
interfering with the stock market
that are held of great Importance.
Other Retarding Factors.
The banking bill now before Con-
gress is pointed to as one of the lead
ing factors now retarding the stock
market. The campaign to do away
with all utility holding companies
within the next five years has caused
no end of unsettlement in stocks, es-
pecially utility stocks.
Bankers were very cautious today
in their comments on the Supreme
Courts action. They are all delighted
that it is out. Too involved or too
controversial for extended comment,
many said. Complete satisfaction was
expressed in some circles. Other
bankers expressed displeasure over
the outcome.
President F. P. H. Siddons of the
District Bankers Association, said he
did not look for any sudden and
broad demand for credit in Wash
1ngton or elsewhere.
The ruling should, in his opinion,
be helpful to business which he eX-
poets to show steady advancement
during the remainder of the year.
He looks for improvement in business
records at the end Of 1885 over the
figures for 1884.
Like many other financierS, he con-
sidered the lifting of the uncertainty
as most vital. His associate in the
American Security & Trust Co, Vice
President Howard Moran, said he was
satisfied with the decision, especially
as it had prevented an almost endless
amount of confusion which would
have resulted had the ruling been the
other way.
d. c. Exchange Strong.
Prices were strong on the Wash
ington Stock Exchange today and
trading covered a good sized list of
issues.
Capital Traction IS again made a
new high mark on the present move,
selling at 9512 on a $500 turnover.
Anacostia & Potomac r. r. SIS were
strong at 106, on a $4,000 sale.
Capital Transit stock was in de-
rnand today, selling in small lots at
251a. Lanston Monotype was on the
board, a small lot moving at 4912.
This was off y point from the last
previous sale.
Woodward & Lothrop common stock,
which was so very active last week,
was in demand again, two 25-share
lots changing hands at 80. The stock
closed at 81 bid and 32l2 asked.
Y. E. Booker, president of the
Washington Exchange, said today that
he did not expect any marked differ
ence in the amount of business done
on the board here as a result of the
Supreme Court gold decisions. Should
the New York Stock Market develop
unusual strength, the improvement
would be reflected here, he said. In
the past sharp upturns in New York
have been an indirect help to invest
ment conditions here, Mr.. Booker
stated.
Heard in Financial District.
The regular monthly meeting OF
the safe deposit section of the Dis
trict Bankers Association takes place
tomorrow night at o'clock in the
American Security & Trust board
room
The Pennsylvania Railroad has re-
ported to the Interstate Commerce
Commission net earnings in 1884 of
SLAB q share compared with Sl.46
per share in 1888 and $l03 a share
in 1882.
Robert v. Fleming, president of
the Riggs National Bank. is taking
a short vacation in Florida. He left
Washington Saturday.
Comparative figures released today
by M. E. Bristow, State banking COM
missioner, disclosed that total re-
sources of 1876 incorporated State
banks in Virginia showed a decrease
of $2,441,1 1874 as of Decembe" 81, 1884,
as compared with figures as of Octo-
Der II, 1894.