Evening star., 1935-07-14
UPTURN RECORDED
BY D. c. SECURITIES
IN ACTIVE TRADING
Lanston and MergenthaIer
Shares Score Largest
Gains of Week.
PEPCO PAYMENT SPURS
TRANSIT BOND PRICES
Interest Grows in Coming Elec'
ton of Second Vice President
for A. B. A. at New Orleans.
BY EDWARD c. STONE.

Nine issues on the Washington
Stock Exchange sold at higher prices
during the last week, one OF the
lvelieSt SO far in 1885.
The list included three senior issues
and six stocks. Anacostia & Potomac
River R. R. first IS moved from 81
to SO on the report that the Potomac
Electric Power Co. had paid the
trustees, the Baltimore National Bank,
a $325,000 note which was due July
!. The payment means that the
trustees will retire that amount OF
the bonds as soon as they have been
purchased Consequently. the price of
the bonds has already started upward.
Capital Traction SIS were in better
demand at rising prices. After clos
ing at 9712 on July they closed
last Friday at SO f1at, offered at 98A
No doubt the strength in these bonds
was partly due to the advance in
Anacostia & Potomac R. r. first S.
City & Suburban R. r. first IS,
1948, also an obligation of the Capital
Transit Co., were the other bonds to
gain during the week. These bonds
which have enjoyed good deal of
popularity so far this year, advanced
from 87l4 to 88l2.
In the stock division Capital Tran
sit moved from 19 to 1912, Potomac
Electric Power per cent preferred
advanced from ITO to Ill, while the
same corporations 51a per cent pre-
ferred climbed half point to ll4l2.
The largest gains of the week were
recorded by Lanston Monotype stock,
which jumped from so to 623s, and
Mergenthaler Linotype. in an upswing
from IS to 27l2 Another stock that
displayed extra strength was Capel
Corp, the food distributing company's
shares going from 20 to 2l5s. All in
all, the second half year on the local
exchange is of to a fine start.
Election Interest Broadens.
The financial press is talking more
and more about the selection of Sec
ond vice president for the American
Bankers Association at the Fall meet
ing in New Orleans.
Ronald Ransom of Atlanta or Rob-
ert M. Hanes of WinSton-S Salem, N. c.,
may be put forward by Southeastern
bankers as a candidate for the second
vice presidency of the American
Bankers Association, it is hinted in the
July issue of the Chicago Banker,
spokesman for the Eccles-Bennett in
terests in the resumption of its cam
paign for the election of E. G. Bennett,
manager of the Eccles chain of banks
to that office
Mr.. Ransom is executive vice presi-
dent of the Fulton National Bank at
Atlanta, Ga, member of the A. B. A.
Bank Management Commission, and
chairman of the A. B. A. Committee
on Federal Legislation.
Mr. Hanes is president of the Wa
chovia Bank & Trust Co., at Winston
Salem, N. c., and a member of the
Executive Committee of A. B. A. State
bank division.
Both these men are well known to
many Washington bankers and are
considered very high-type men.
OUSSIp DIStihSts
Reports from receivers of Washing
ton closed banks, made since the con-
trollers call nf June 20, indicate
steady and substantial collections. In
some cases pending litigation ties up
early payments to former depositors.
Yet a good amount Of money is now
on hand and i'll tine will be dis
tributed to waiting patrons of the de-
funct institutions. Encouraging prog
ress, even if slow.
The Morris Plan Banks of the coun-
try have granted TOTAL of 9,48l loans
amounting to S4.247 862 to property
owners for repairs and improvements
under the terms of the Federal hous-
ing act, President Arthur j. Morris
reports. The Washington bank has
made its full share OF these loans.
Mutual savings banks in New York
State have added more than $122,-
100000 to their deposits in the past
18 months, according to the State as
sociation. Since July l deposits in
these banks have reached the highest
mark since Withdrawals preceding the
banking holiday.
Washington bankers visiting Lees
burg, Va, and nearby sections report
that crops are in extra fine shape and
predict that the farmers will have ex-
ceptional buying power this Fall.
Similar forecasts are made fol the
Frederick, Md, area.