Evening star., 1936-02-18
VOLUME MOUNTS
ON D. c. EXCHANGE
Trading in First Month and
a Half of Year Well
Above 1885.
BY EDWARD C. STONE.

many instances prices are nlgner
than they were at the beginning Of
the year, a survey Of the stock and
bond list reveals. Exchange officials
said today that they are very much
pleased with the interest manifested
in home securities" so far this year.
Capital Traction first SIS have been
the most active issue in the bond list,
with a s70,500 turnover, in a price
range from 92as down to 9034. Next
in popularity have been Anacostia &,
Potomac River r. r. first SIS. l949,
which have recorded $2l 900 turn
over in a range from 8012 to 85, last
sale at 81. Georgetown Gas Light IS
and Washington Gas Light IS stand
next in total transactions. All the
other public utility bonds have also
enjoyed more or less trading in the
past six or seven weeks.
Mergenthaler Is Leader.
Mergenthaler Linotype has been
the leader among the stocks, furnish
ing the surprise of the year. Down
ever since the national depression
gave such a severe wallop to earnings,
conditions have been improving for
many months, especially in the past
few weeks. More than 1.l00 shares
have changed hands in the recent
trading sessions, the price mounting
to 48, a new high for five years. Just
how much earnings have increased
has not been announced but the i'm
provement must be substantial. Hints
of dividend restoration have also been
heard frequently in the local finan-
cial district. Expectation of some
kind of a dividend not very far dis
tant is being voiced by many holders
Of the stock.
Capital Transit has been the next
most active stock on the board so
far in 1886. About 1000 shares,
mostly in small lots. have changed
ownership. Washington Railway g.
Electric preferred has come next in
volume
Riggs Preferred Popular.
In the revival of interest in bank
stock, Riggs National Bank preferred
has taken the lead in share transac-
tions. selling as high as LOG, with the
common stock up around 254. Ameri-
can Security & Trust has been in
demand around 230 per share. Wash
ington Loan & Trust stock has re-
Gently moved from 203s4 to 22S, an
unusually good gain.
The return of bank stocks to the
trading and investment spotlight
was the outstanding feature of 1885
on the Washington Exchange. They
are not being forgotten in 1886. In
these and many other issues Ex-
change members report more orders
than they can fill at prices at which
they are now offered.
Underwriters Hear BroaduS.
The managers section of the Dis
trict Life Underwriters Association
was addressed by Lynn Broadus, man
ager of the Acacia Life Insurance Co.'s
Office in Chicago, at luncheon held
this noon at the Hamilton Hotel. Mr..
Broadus gave an address of special
value to general agents and Office
managers, which he has delivered be-
fore the national association, talk
teeming with suggestions and prac-
tical advice for underwriters. r. w.
Griswold, Guardian Life, secretary
of the local association, presided, the
luncheon being attended by over 100
members and guests.
New life insurance written during
January slumped sharply compared
with a year ago, totaling $681 .506 900,
against 1924, ,903 900, decrease of ia
per cent, according to figures received
by the Association of Life Insurance
Presidents from AZ companies having
80 per cent OF the total insurance
outstanding in all United States legal
reserve companies.
Decline for the month was due prin-
cipally to the sharp drop in ordi-
nary insurance, which totaled SAT-
900, down 25.6 per cent Indus
trial insurance, at S193 3,344000, was
of only is per cent. Group insur-
ance continued to increase, total
Of $40 ,98l 900 being written last month
compared with $27,348.000 year ago,
an increase of 49.9 per cent.
Brokerage Houses Thronged.
Brokerage houses in the financial
district were thronged long before the
opening of the New York Exchange to-
day, following yesterdays wild market
as result of the T. v. A Supreme
Court decision.
Naturally the utilities, especially
Commonwealth g. Southern and other
companies in the T. v. A. territory,
came in for the most discussion. While
the utilities opened lower, they showed
considerable frmness in the first half
hour. Strength in United States Steel
common helped the whole market.
Traders expressed great satisfaction |
that the T. v. A. ruling had been an
nounced even if it settled only one
point in the controversy. Trading in
utility stocks will now have to depend
on earnings as it will be very long
time before other points at issue can
be brought to the highest court and
settled.
The volume in Commonwealth and
Southern stock yesterday was the
largest in any one stock in single
session since 1929. Wild trading had
to be suspended in the one issue for
half an hour.
Todays Trading on Exchange.
Riggs National Bank common stock
sold at 255 on the Washington Stock
Exchange today, up full point from
yesterday. Washington Railway pre-
ferred came out at 109h and Po-
tomac Electric Power 51a per cent
preferred registered liz in very light
trading.
Capital Traction SIS moved on $500
sale at 90%, Washington Gas IS, series
B, figured in a $1,000 sale at 101z.
while the final bond sale was 5000
turnover In Georgetown Gas Light S.
at ia.
The Potomac Electric Power issues
and Washington Railway & Electric
preferred and common stocks are now
being quoted ex-dividend, as is Lam
ston Monotype, which is soon to pay
the quarterly 81 per share. The bid