Evening star., 1935-11-23

" Ii 3
Washington Rail-
way & Electric As recently reached 1906
Washington Gas Light first SIS have
also made a name for themselves so
far in 1885. They are selling at 1i3.
making them the highest priced bond
on the list. City & Suburban Railroad
FIRST SIS have also done extra well, hav-
ing advanced from 1873 to 90. The
largest volume of trading has been in
Capital Traction SIS, which sold at
one time during the year at 80 and
are now changing hands around 95
and 96.
In the stock division, Washington
Railway g. Electric preferred has just
made new top for the year. Wash
ington Gas has moved up about 4
points in 1885, while both Potomac
Electric Power preferred stocks are
selling more than II points above par.
Norfolk 81 Washington Steamboat
stock has also added strength during
the year. Capital Transit. however,
has moved against the trend in other
issues, dropping to is in recent trad
ing.
Bank stocks have been more active
during the last few weeks and have
held to strong prices. Other stocks,
such as Woodward & Lothrop conf
mon. have been especially strong, this
issue having moved from % to 40.
Xanston Monotype has climbed from
A8 to 65. Peoples Drug preferred has
not been active but has gained points
- ha vial dc
$50 per cent. The highest yield on
any local stock, Carpet Corp, is 730
per cent, with the last sale at 2l1s
And while quotations have been NOV
ing upward. volume has also been
expanding, keeping exchange officials
IN an optimistic mood.
Law Optimistic on Banking.
Francis M. Law, former president
Of the A. B. A.. and q personal friend
OF many Washington bankers. said
she other day that he does not fear
political control of banks under the
banking act of 1885 He explained:
Just a few months ago many
thoughtful business men sincerely
feared that our banking system was
about to pass under political control.
/ was in Washington during good
part of the time in which the discus
nions on the banking bill were in
progress and 1 was impressed with
the fairness that was exhibited on
all sides. The bill itself represents
compromise and concessions.
"I believe that independent banking
M more firmly entrenched than at
any time during this generation The
radical changes which were reared
did not remain in the law. The foun-
dations of our banking system remain
'Snshaken and unchanged.
The banks are finding it hard to
areate sufficient earnings to pay even
modest dividends, but they are In
wo,nder. stronger and more liquid
condition than they have been per-
haps ever before. 1t may be said with
assurance that commerce. agricul-
@Ire and industry have available aoe-
uuate banking facilities"
Loan Interest Paid Rapidly.
The fact that farmers had paid
aver "a per cent of all matured IN
herest installments on Land Bank
commissioners loans at the end OIL
October reflects continued improve
bnent in agricultural conditions, &C
eording to w. I. Myers, Farm Creoit
Administration governor.
The interest maturities on over
A765 900 900 of commissioners nrst
and second mortgage loans made since
NAV l. 1888. amounted to S35 100000
10 the end of October this year, OF
which over $29 100000 was collected
And SIS 500 900 was unpaid. Some OF
Nhe loans we're made recently ana
have had no maturities so far.
Improvement in collections 1ol-
iowed closely the opening of the mar
keting season in most sections, Mr..
Myers stated. The best all-arouno
improvement so far has occurred IN
Che Louisville district, including Ohio,
Indiana. Tennessee and Kentucky,
where crop conditions have been gen.
srally good and live stock prices IA
korable. Collections in the district in
ereased from 86.2 per cent of maturi-
Mes aJ the end of October, 1884, to "a
per cent at the end of September this
rear to 95.3 at the end of October"
Wealth Moves Southwark.
A definite shift of the national
wealth to the Southern and Pacific
States from the New England, North
Atlantic and North Central States over
the last 40 years is indicated by Rob-
ert r. Doane in the Annalist.
This trend is brought out by a
series of tables showing the total
1f ,fYr, hxy daa-
AIDES and categories of wealth, together
with the percentage distribution in
khe various classifcations.
Among the States that account for
an increasing percentage of the ma
tional wealth are Connecticut, New
Jersey, Michigan, South Dakota. Vir-
ginia, West Virginia, North Carolina,
Florida, Louisiana, Oklahoma, Texas,
1daho Wyoming, Arizona, Washing
con and California. The other States
either merely maintained their pro-
portionate share or else suffered actual
percentage losses.
Heard in Financial District
Members of the American Security
Club, made up of employees of the
trust company, are holding an oyster
roast in Rock Creek Park near the
reservoir this afternoon. About 30C
were expected, several officers anc
directors having accepted invitations
The club president is x. c. Moore.
A Baltimore syndicate composed
Of stein Bros. g. Boyce, Mackubin
Legge & Co., Baker Watts & Co. anc
Mercantile Trust Co. has been awarded
$4,000 Dorchester County, Md, school
bonds on their bid of 100.35 for 2%s
A bid of 102.119 for IS was submitted
by w. w. Lanahan & Co.
Thomas H. McInnerney, president
Of National Dairy Products Corp.
which has two washington units, says
the company's sales and net earnings
L. .ni. raf