Evening star., 1935-03-25
CAPITAL EXCHANGE
IS 18TH ON LIST
Dollar Volume for Four
Months Hits $625, ,648,
S. {. c. Reveals.
EY EDWARD C. STONE.

In a list of % of the leading stock
exchanges in the United States, the
Washington Stock Exchange ranked
eighteenth during the first four
months under registration with the
Securities and Exchange Commission,
it was announced by the commission
today, the standing of the exchange
being based on the dollar volume of
trading in both stocks and bonds.
During the four months ended in
January, the volume of business on
the Washington Exchange totaled
$625,648 This volume was greater
than the turnover on the Denver
Stock Exchange, Salt Lake Stock
Exchange, Buffalo Stock Exchange or
the New York Real Estate Exchange
The New York Stock Exchange
headed the list with the volume of
trading amounting to 1886, 783,675
in the four-month period. Second in
the list was the New York Curb Ex-
change on which business amounted
to $45l ,748,713. The total volume for
the % major securities markets was
1924 ,778
The four months totals further
showed steady increase in the vol
ume of trading: The total for October
was $S46,270,0O0; November, Sl,O5l,-
1872, 900; December, s1,154, ,083, 900;
January, $l,201, 100000. The four
month totals by exchanges, exclusive
Of New York, were:
Boston Stock Exchange, $50 ,282,-
600; Chicago Stock Exchange, $27,-
27e, 900; Philadelphia Stock Exchange,
Sl7,347000; San Francisco Stock Ex-
change, $l7,1l3,250; Los Angeles
Stock Exchange, $10.484,000; Detroit
Stock Exchange, $9,804, 900; Pitts
burgh Stock Exchange, $4,672, 900; San
Francisco Curb Exchange, s4,455, 900:
New York Produce Exchange, So
655, 900; Cleveland Stock Exchange,
S2,6S1 900; Baltimore Stock Exchange.
sl,e3e0oO; Cincinnati Stock Exchange,
$1,364,000; New Orleans Stock Ex-
change, s1,362,oOo; st. Louis Stock
Exchange, S869,396; Chicago Board
of Trade. $726,886; Washington. D. c.,
Stock Exchange, S626,648; Denver
Stock Exchange, ,248; Salt Lake
Stock Exchange, $421,978; Buffalo
Stock Exchange, sl69.640; New York
Real Estate Exchange, $4,000.
Kennedy Sees Further Gains.
The second four months under Sc
curities Commission control will show
still further increases in business on
the leading exchanges, if views already
expressed prove accurate. Chairman
Kennedy stated few days ago that
he expects a large number of new
issues to appear in the near future,
the commission having applications
for some s2O0000.000 in refinancing
already in the works. AS these issues
come out, trading on the exchanges
will naturally be increased, as many
or all of them will be listed on one or
more security markets.
The commission was greatly en-
couraged by the Swift and Pacific Gas
issues, which totaled s85,000 900.
Members of the commission called this
the breaking of the log jam. The two
issues were also greeted as an encour-
aging sign by brokers and bankers,
although they represented refunding,
rather than new money To many
investors they required giving up
high yield issue and switching into one
with lower return.
New issues on the Washington Ex-
change have been scarce for very
long time. Business in the securities,
which have been on the list for years,
has been increasing steadily since
the first of the year. The volume
probably will place the Exchange fur
tfer up on the list of % exchanges
when the next report comes out.
Mortgage Plan Broadened.
A plan whereby any home financing
corporation with capital funds OF not
less than $250,000 may, if qualified,
make mortgage loans under the mu-
tual mortgage insurance plan OF the
Federal Housing Administration, was
announced today by Administrator
James A. Moffett.
Another readjustment of the in
sured mortgage plan procedure now
makes 1t possible for institutions hav-
ing trust funds In their control to
invest them in insured mortgages,
according to the administrator. The |
new privileges to financial institutions
and corporations were designed, Mr..
Moffett said, to throw millions OF |
dollars of new capital into home |
financing throughout the country.
This liberalization of the rules OF
the mutual mortgage insurance plan |
will permit mortgage companies.
mortgage bankers. trust companies and
other institutions hitherto ineligible |
as approved lenders to participate in |
the home financing program of the
Federal Housing Administration, Mr..
Moffett explained. To qualify as
lenders under this new arrangement |
corporations will be required to submit
information to the Housing Admins
tration attesting their responsibility |
and ability to properly service mort
cages.
Capital funds of corporations filing |
application must not be less than |
s250,000.
Today's Trading on Exchange.
Washington Gas Light SIS, 1858, !
opened the weeks trading on the |
Washington Stock Exchange with a |
$500 transfer at los. This was a gain |
of "a Of a point since the last sale |
and brought the price up to the high |
for the year.
National Bank of Washington stock
appeared on the board today, the first
sale in a long time. Four shares
changed hands at 1857.
Lanston Monotype also came out on
the board, a small lot moving at so,
the same quotation at which all other
transfers have recently been made.
The first sale in Capital Transit
Co. stock In several days took place
during the session, when 10 shares
changed ownership at 20k, the lowest
figure at which the stock has sold this
year. It was the first sale under 241a,
while the 1885 peak price was 2612.
The stock closed with 20A bid and
21k asked.
Gay Would Accept Honor.
Brokers In Washington Stock Ex-
change officers today were discussing
the announcement by Charles r. Gay
that he would accept the nomination
to run for president of the New York
Stock Exchange, should it be offered
him. Talk in Wall Street has already