Evening star., 1935-04-20
BLUE CHIP ISSUES
|NL|VELY DEMAND
Washington Exchange Has
Many Calls for High
Priced Securities.
BY EDWARD c. STONE.

total weeks business was well up to
recent levels, which are ahead of last
year. Growing interest in the blue
chip stocks. those selling at 100 per
share or higher, has been noted in
recent trading sessions.
During the past week Washington
Railway e. Electric preferred stock has
sold up to 104. which is the high mark
for the year. Potomac Electric Power
512 per cent preferred shares sold this
week at lis and 1l5A, the latter quo
tation also being the 1885 peak in this
issue The last sale in Potomac
Powers per cent preferred stock was
made at the high mark of Ill.
Riggs National Bank preferred stock
sold this week at Ill and the same
banks common stock brought 216 in
small transaction. Other bank
shares we're quiet.
In the miscellaneous list of shares
selling under 100 there was good
deal OF activity in Capital Transit. 1t
sold under 20 for the first time this
year. Mergenthaler Linotype was one
Of the most active of the cheaper
stocks, again changing hands freely
at 80. Lanston Monotype came out
at so.
Bonds were in greater demand than
stocks. Capital Traction SIS recorded
many good sized sales at 90 after re-
Gently touching 100 The demand was
good for Washington Gas Light IS,
Series B. at 1o4; these bonds maturing
next year Washington Gas SIS, 1858.
are also strong, selling in the past few
days at los. the 1885 top. Only re-
Gently Washington Gas SIS, 1860, moved
at lis.
During the week Barber e. Ross
6i3s appeared on the sales sheet in a
81 900 transfer at 20 and d. c. Paper
Manufacturing Co. SIS figured in
$1,000 sale at 1872 and another $1,000
transaction at 16%. The majority
Of bonds on the Exchange, however.
are selling at much higher prices,
more than half of them above par.
Large Attendance Forecast.
Plans for the annual Spring dinner
Of the District Bankers Association.
set for next Friday night at the Co.
lumbia Country Club. have progressed
far enough to indicate an attendance
of about 200 bank officials and bank
directors Reservations have been
arriving in large numbers, the Dinner
Committee reports.
There will be many Government
officials among the guests, largely
from the Treasury Department. as is
the case every year. The dinner is
given mainly to step up interest in
the Bankers Association annual con-
vention As general convention chair
man, Hilleary G. Hoskinson will out
line "in a few well chosen words"
the arrangements which have already
been made for the Hot Springs
conclave.
President F. P. H. Siddons will
announce details regarding the pro-
gram for the Spring dinner very
shortly. The usual golf tournament
will be held on the Columbia links IN
the afternoon and the prizes awarded
In the evening.
Sanitary Bonds Awarded.
Oficials Of the Washington Subur-
ban Sanitary Commission were much
pleased over the sale of S250,000 series
GG AZ per cent Sanitary District
bonds at s1o7.278 per $l00 bond. The
issue was awarded to Brown, Harrl-
man & Co., Inc.
There we're eight other bidders.
The accepted bid was the highest ever
made on these bonds. There were
five bids which were above 105. The
last previous issue of Sanitary Com
mission bonds were sold last October
at 1924. The bonds. which are
subject to approval by the Maryland
Public Service Commission, will be
dated April /, mature in so years and
are callable in 30 years.
Proceeds from the issue, which will
provide the commission nearly $685.
900, will be used for water and sewer
extensions in Montgomery and Prince
Georges Counties.
The bids we're opened and the
award made at the head office OF the
commission in the Tower Building In
this city.
National Dairy Sales Gain.
Thomas H. McInnerney, president
Of National Dairy Products. said in
Chicago that sales so far this year
are about the same as a year 60. Con-
sumption Of milk is not increasing. but
prices are a little higher. Business
seems a little better all around, both
in sales and net profit than year
ago. he said.
In answer to question, Mr. Nc
fnnerney said some consideration has
been given to refunding OF bonds at
q lower rate. but this will probably
be taken up at later time.
National Dairy has two units in
Washington and the stock is widely
distributed in the Capital. A year ago
last Winter the head of the company
spent many weeks in Washington as
sisting in the administration OF the
code in the dairy industry.
Heard in Financial District.
All the banks have been notified Of
the latest $50,000,000 offering Of
Treasury bills. to be dated April "a,
1885, and maturing January %, 1896.
Tenders will be received by the Fed
eral Reserve Banks up to Monday
afternoon.
The Washington Office of Fenner l.
Beane. New York Stock Exchange
f1rm, announces that the company is
starting an industries service Tor
clients. The service aims to keep no
with the developments in % impor-
tant industries, covering price ranges,
dividends and earnings.
Pennsylvania Railroads net earnings
for the first two months of this year
were equal to cents a share (par
value 500 on the capital stock, COM
pared with Is cents a share in the
corresponding two months last year.
Passengers carried by Atlantic Coast
Line Railroad during 1884 aggregated
2,142,47o. a gain of 86.6 per cent over
the 1,148.132 carried in the previous
year. The $5,o35,918 revenue from
this source was 1872 per cent higher
than the s4,223,523 of 1888, 1t is stated
in the roads annual report.
Nearly $500 dividend checks for
depositors in the insolvent Northeast
and washington Savings Banks have
not been claimed, Receiver Norman
r. Hamilton reports. The last pay