Evening star., 1935-10-21
SHARP RISE SHOWN
BY MERCENTHALER
Stock Climbs From 27 to 81.
New Earnings Gain Is
Anticipated.
BY EDWARD C. STONE.

Sudden advances in the price OF Mer-
genthaler Linotype stock during the
last few days have caused much COM
ment among members of the WASH
ington Stock Exchange where this
widely held security is listed.
Last week, after being quiet for a
long time with practically no sales
recorded, the stock suddenly jumped
to 80 from around 81 After sales at
80 were recorded, the bid on the
stock continued upward, but brokers
found holders of Mergenthaler un-
willing to part with their stock even
at Q higher figure. 1t sold here today
at "a.
The bid on the Washington Stock
Exchange closed Saturday at 33 with
the stock offered at 35l2. At the
sane time Mergenthaler, which is
also listed on the Boston Stock EX-
change. sold there at 34l4, new high
mark for many months.
This is the most encouraging move
that the large number of Washington
holders of the stock have noted In
long time. The annual meeting
comes in November the annual flnan-
cial statement always coming out at
that time. Nothing has been pub
iished vet indicating what the report
will probably show. But the demand
for the stock has improved so rapidly
that members of the Washington eX-
change believe the report will show
further progress in business recovery.
1t will be recalled that the company
made an excellent showing last year
in turnabout in earnings that was
much larger than had been generally
anticipated.
"When- Issued" Trading Near.
Members of the Washington EX-
change are interested in the report
that a movement toward revival OF
when issued" trading on stock ex-
changes, banned since passage OF the
securities exchange act of 1884, has
been started by the Securities ana
Exchange Commission, which today
As promulgating rules permitting such
trading under certain restrictions.
The new rules are designed to pre-
tent indiscriminate listingS of securi-
ties for when issued" trading; to
confine trading to those instances
and localities where public interest
demands a market; to prevent pre-
mature trading on a "When-lsSued
basis. and TO make available the same
information for this type of trading
as is provided for securities traded
on an issued basis
When issued" trading will be per-
Nlitted only on the exchange on which
the warrant or security will be traded
after it Is issued However, II that
exchange does not furnish "When-S-
sued" market in the security, then a
national securities exchange in the
same city may apply for permission
to furnish the market. This regula-
,tion Is particularly important in the
case of the New York Curb Exchange
'ss 1t will be entitled to make when
issued" market in unissued securities
of the big board.
The rules also provide that the
performance of the conditions Of a
contract for the purchase or sale OF
an unissued warrant or security is
conditioned upon the issuance OF
either the warrant or the security
In the old days there was gooo
Zeal of trading on the Washington
exchange in securities on a when
Issued basis.
Accountants Honor LANCER.
An informal dinner will be rendered
Charles H. LANCER, president OF the
Walton School of Commerce. at the
Lee House this evening by the leading
accountants of Washington. He is a
nationally recognized authority on
accounting and will address the gath
'ering on Trends in the Preparation
of Financial Statements"
Among the accountants sponsoring
The meeting are Arthur j. Linn, con-
troller, Hamilton National Bank; H.
T. Burton. controller, Southern Darles
Co.; W. c. Costello. assistant to the
chairman of the R. F. c.; NJ H. Sor-
,rell, conferee, income tax unit; j. j.
Gansolf, controller, management divls-
Ion. Retettlement Administration;
games E. Anderson, secretary Sanitary
Groceries Co., and w. H. Burchlll,
controller. Peoples Drug Stores, Inc.
Members of the District Bankers
Association will hold the regular Fall
meeting this evening at the Willard
Hotel. The chief speaker will be Robert
S. Fleming, president of the Riggs
National Bank, who will discuss the
banking act of 1885. There are several
business matters of unusual interest
to come UP and committe reports to
be presented A buffet supper will fol-
low the meeting. A large attendance
Is already assured.
The credit managers of Washington
will hold luncheon tomorrow in the
private dining room of woodward &
Lothrop when the guest speaker will
be James lotto, promotion manager
Of Lansburgh & Bros. whose subject
will be What Promotion Managers
Think of Credit
Insurance Payments Started.
The Federal Deposit Insurance Corp
today began the payment OF about
e4,00O,000 to depositQrs in the closeo
Commercial National Bank, Bradford
Pa. There are IL 900 depositors in the
bank who have accounts of $1,000 OF
less. Only $50 depositors had more
than $4,000. Their payoff will be only
up to the $4,000 limit.
It was reported by the Chicago Office
today that Y. E. Booker, head of Y
Z. Booker & Co., investment banking
firm in this city, will be elected to the
board Of governors of the Investment
Bankers Association, at the coming
convention at White Sulphur Springs
Mr.. Booker has worked especially hare
for the association in the interest o
codes and fair practices between in
vestment dealers. He has been activ'
in the financial district here for year.
and is at present head of the Wash
ington Stock Exchange.
Mergenthaler Linotype sold on thu
Washington Stock Exchange at "a
for the first time in many moons
INl