Evening star., 1936-11-08
lanston and Mergenthaler
Enter Higher Ground
!. as Week Ends.
$40 EXTRA is DECLARED
ON w. R. & E. COMMON
Retail Sales Volume Increases
1884 Per Cent More as Cooler
Weather Arrives.
BY EDWARD C. STONE.

Catching the spirit of what brokers
term the Roosevelt bull market.
prices on the Washington Stock Ex-
change are initiating Wall Street and
scoring new high marks for 1896 al
most daily, more peaks being reached
yesterday.
Lanston Monotype sold at 80 fol
the first time this year after steady
advance from II. Mergenthaler Limo
type appeared on the board at Sc, the
highest price for the present year, pre-
sumably because of the unusually ia.
vorable annual report just made pub
lie.
Earlier in the week the new Potomac
Electric Power 314 per cent bonds sole
up to 1045s, the best mark attained
since the recent listing of this issue
The week also witnessed American Sc.
curity g. Trust Co. stock selling at 270
which was another record figure fol
1886. And only a few days ago Riggs
National Bank common stock changed
ownership at $40, also new peak
price for this issue.
In yesterdays market Capital Tran
sit stock opened at 1872 and closed al
1914 on a light turnover. Real Estate
Mortgage & Guaranty preferred re-
corded a 35-share sale at S. Other
bid and asked prices were around re-
cent levels. The October report o1
Peoples Drug Stores showed a boost
in sales of las per cent over October
1885, strengthening the bids on the
common and preferred stock, although
no sales were noted yesterday. The
common has just reached a new high
mark on the New York Exchange.
$40 Extra on Railway Common.
Directors of the Washington Rail-
way g. Electric Co. have declared an
extra dividend of $40 per share on the
corporations common stock, payable
December ! to stockholders of record
November 16 The directors have also
voted the regular quarterly dividend of
SO a share, payable on the same date.
The usual quarterly dividend of sl.25
per share on Railway & Electric 5Ea
per cent preferred stock will also be
distributed December to shareholders
Of record on November 16.
Washington Railway & Electric
common stock is so tightly held that
there has not been a sale in the issue
on the washington Exchange for many
months. While $500 a share is the
present bid for the stock, holders will
not part with it at that figure. The
preferred stock sold actively at 11134
during the past week, close to the 1886
peak of 112.
ID. c. Trade Jumps 1S Per Cent.
Department stores sales in Wash
ington jumped 1854 per cent during
the past week above the figure for the
previous week and were 1857 per cent
above the same week year ago.
The upward trend in consumer de-
inand was also notable in the rest OF
the fifth Reserve district, cooler
weather having given retail trade a
vigorous push, resulting in substan-
tial margin of gain oyer previous weeks
and last year. Wholesale markets were
even more active than the retail marts
Blk clearings in the Capital, the
Commerce Department review says,
totaled $21,912 ,264, against S21 ,372, 900
last week and s19,369,830 last year.
Recession was reported in the value Of
building permits. total for the week
of $272,000 comparing with s309.650
in the previous week and S4l7,750 a
year ago. The number of tourists in
the Capital took decided drop.
Garrett to Address Bankers.
Washington Chapter, American In
stitute of Banking. will hold its first
forum meeting of the year on We'd
i1esday, November 18, at s pm. in the
board room of the American Security
& Trust Co. The subject will be Ben
efits to Be Derived by Member Banks
Of the Daily Use of Federal Reserve
Facilities" and will be presented by
John r. Garrett, manager, bank re-
lations department, Federal Reserve
Bank of Richmond. Light refresh
ments will be served after the meeting
and a large attendance is anticipated
James c. Dulin, treasurer of Amer
scan Security & Trust Co., is chair
man of the Forum Committee, assist
ed by the following members: Willard
G. Barker, Morris Plan Bank: Theo-
dore B. Gogley, Munsey Trust Co.;
Harold w. Burnside, Riggs National
Bank; P. M. Garnett, Riggs National
Bank; Henry F. Kimball, American
Security g. Trust Co.; I. j. Roberts
Riggs National Bank; Herbert w
Walker, the Washington Loan &
Trust Co., and Robert G. Whitton
First National Bank, Alexandria, Va.
Store Collections Improve.
Payments on open-credit accounts
receivable Of department stores were
made at a higher rate during Sep
tember of this year than in both Au.
gust this year and September a veal
ago, according to the Bureau of For
eign and Domestic Commerce, De.
partment of Commerce. The collec.
tion rates on these accounts were
42.8 per cent for September and 42.1
per cent for August of this year, and
l06 per cent for September, 1885.
The September installment collec-
tion rate was slightly higher than
In September of last year and in Au-
gust of this year. The figures were
l6.5 per cent in September this year
and 1862 per cent in September OF
last year and August of this year.
All Federal Reserve districts ex-
cept Minneapolis reported higher col
lection percentages on open accounts
for september, 1896, as compared with
September, 1885. On installment ac-
counts, the Cleveland, Chicago, Bos-
ton, New York, Richmond and st.
Louis districts showed increases, while
the other six districts showed de-
q ses.