Evening star., 1936-10-26
VOLUME CLIMBS !.
ON D. c. EXCHANGE
September Total Reaches
$119,794, Compared to
i1E $105,155 in August.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Dollar volume Of trading on the
Washington Stock Exchange in Sep
tember was substantially ahead Of Au-
gust in the stock division. The dollar
volume amounted to $1l9,794, against
$1O5,15538 in August, comparisons
show The share total was not quite
as large as in August, but the in
creased demand for bank stocks gave
substantial boost to the volume sum-
mary.
September bond trading was not as
large as in August, a $48,600 total
comparing with $66,800 in the pre-
Wous month. During the month a
great many bids could not be filled,
because investors were unwilling to
part with their holdings at prevailing
prices which have been steadily work.
ing higher for months.
According to compilations by the
Securities & Exchange Commission,
the dollar volume Of sales on all reg
istered exchanges in September was
$1,882, ,282, ,523, an increase Of 1876 per
cent over August and 1872 per cent
over September, 1885.
Stock sales in September had a
value Of $1,594, Ali, $50, an increase of
II per cent over August, while bond
sales, with value of S287 BOOSTS
were up 80 per cent.
Shares turned over during the
month totaled 59,626,99 or Ill per
cent more than in August. Principal
amount Of bonds sold was $378,519,-
548, an increase of 37.5 per cent over
the previous month.
The commission announced that
during August, 81 registration state
ments involving $271, ,000, 900 became
effective under the securities act of
1888.
Bankers Hold Fail Meeting.
The Fall meeting of the District
Bankers Association was on the
schedule for 3:15 o'clock this after
noon in the board room of the Amer
lean Secuity g. Trust Co., with Presi-
dent Karl w. Corby in the chair Com
mittee reports and an address by
guest speaker were on the program.
The District of Columbia Life Un-
derwriters' Association was to hold
special meeting this afternoon at the
Acacia Insurance Building to launch
the Life Insurance Institute which
will carry on educational work among
the members.
The voters of 248 communities will,
at the coming general election on
November 8, decided the fate of State
and municipal bond issues aggregating
$94,811 $50, according to the Daily
Bond Buyer The most important bond
issue to be submitted is $4,000, 900
unemployment relief loan for the State
OF New York.
This is a reduction in the volume Of
State and municipal bond elections
as compared with a year ago. Last
years proposals, on which voters of
307 municipalities we're asked to pass
at the general election, aggregated
s115,292, ,48o.
Trade Lull Seen in 1887.
A temporary halt in the current
upward trend of trade and industrial
activity is likely to occur some time
in the first quarter of 1887, says the
United Business Service in it's cur
rent report. Pauses in the general
advancing course of recovery must be
expected from time to time, the Serv.
ice points out. 1t warns against over
optimism resulting from the sharp
advances in stock prices and earn
1ngs.
Just as in a period of defiation. the
repeated story of lower volumes, fall
ing prices and vanishing profits be-
gets feeling of bottomless pessinism,
SO the continued repetition of the
opposite picture generates the expec-
fancy Of its uninterrupted continu-
ance.
The Service concludes that any ir-
regularity which may develop after
the turn of the year will be tempo
rary. It will be followed by'a con-
tinuation of the upward trend of the
business cycle, the top of which will
probably not be seen for several
years.
Walters Committee to Meet.
The Committee on Banking Studies
of the American Bankers Association,
which is making a comprehensive
study of the credit structure, will
meet December 4 in New York, Chair
man Wood Netherland announces.
Wilmer j. Waller, vice president and
cashier of the Hamilton National
Bank, is q member of the committee
and also the Executive Committee.
The committee, appointed by Tom
K. Smith, president of the A. B. A.,
includes such bankers as Francis M.
Law, Winthrop w. Aldrich, M. P.
Galloway, A. P. Giannini, Harry j.
Haas, Robert M. Hanes. John K.
Ottley, Lyman E. Wakefield and
Evans Woollen.
In calling the meeting Mr.. Neither
land states that the committee is
pursuing its studies Of the Postal
Savings System and Of Government
lending agencies, on which it has been
engaged during the past year, and
which it expects to complete during
the current year. These studies are
being carried on in cooperation with
committees appointed by State bank
ers' associations. At the meeting in
December the matter of what further
studies are to be undertaken will be
considered.
Heard in Financial District.
H. A. Ross, president of Ross Fed
eral Research Corp, has returned
from an eight-week business survey
Of European research markets. Mr..
Ross, who visited seven European
countries, reports business conditions
in England to be excellent. Plans for
the organization of Ross Federal
research force in Great Britain are
now being discussed, according to the
firms Washington Office.
Heavy Trading in Gas Stock.
Washington Gas Light stock led the
Washington Stock Exchange today,
opening with ten 10-share sales at 80.
After call. 200 more shares changed
hands at 80l2.
Washington Gas IS, 1948, appeared
on the board at lO8A, and Capital