Evening star. [volume] (Washington, D.C.) 1854-1972, 1936-10-10
NEW PEAKS SET
IN D. c. EXCHANGE
Riggs Common Stock Hits
POI Mark-WoodWard &
Lothrop Issues Up.
BY EDWARD C. STONE

common SCOck nlI IeW Peah All
the year this week when it changed
ownership at 297.
Lincoln National Bank stock, which
has been in special demand in recent
trading, has been selling at 203,
slightly under the high point of the
year, reached few days ago. Ameri-
can Security & Trust stock has APP
peared on the board several times
lately, jumping today from Isl to
254A, a new peak for 1885 and
longer
Woodward g. Lothrop preferred
stock appeared on the board at l22.
q new top in this issue. The last
sale in Woodward & Lothrop COM
mon, at 68, was also at the highest
figure this stock has commanded.
Peoples Drug Stores preferred changed
hands a few days ago at ll4l2, equal
to the best price at which it has
sold in 1886.
Mergenthaler Linotype made his
tory yesterday, when it climbed to
5l12 and made a new 1886 top, hav-
ing advanced from low mark early
in the year of 3812. Not only has
this stock been climbing to new price
heights, but the volume of trading
has also been increasing rapidly. The
prices of other stocks might also be
cited to show how strong and active
the Washington Exchange has be-
come since the end of the Summer
lull.
Of greatest importance and inter-
est to Capital investors this week was
the listing of S15,000,00o Potomac
Electric Power 3A per cent 30-year
first mortgage bonds, with an open
ing bid of 104, offered at 104&.
First sales recorded yesterday found
the power bonds moving at 10412.
Another bond in the spotlight, Wash
ington Gas SIS, 1860, has climbed to
1241a.
Sinker Writes Tax Treatise.
A Washington certified public &C
countant, Julius Sinker, has just
written and published his third book
relating to taxation and investments,
entitled Minimizing Securities
Taxes" According to the preface,
the treatise on security transactions
is intended chiefly for the benefit OF
the investing public.
Mr.. Snker has tried to avoid max
ing the book too technical. In addi-
ton to taking up the problems OF the
average investor, the author discusses
the principles of taxation under the
latest revenue acts. He also devoted
special chapters to taX-eXempt securi-
ties and to methods of analyzing ones
tax position.
The writer has assembled a great
deal of matter which an investor on
any large scale needs to know, has
put it in an interesting and useful
manner The new book, which is
considerably larger than the other
two, will brinlg him high commenda-
ton.
Home Mortgages Popular.
II the country's life insurance.
companies continue to buy urban
home mortgages at the present rate
they will make investments of well
over three-quarters Of billion dol
lars in this type OF security alone in
the next two years, according to
survey of the Mortgage Bankers As
ISOLATION of America.
Based upon an average appraised
valuation of so per cent, this invest
ment in home mortgages will prob
ably mean as much as well over
billion dollars for home building,
George H. Patterson, secretary
81 Il
During the first six months of 1886
nearly so leading life insurance COM
panies increased their urban mort
gage investments 1873 per cent. buy
ing $154 1865, 800, as against $60.976,-
294 in the same period year ago,
gain of $93,889,096.
THAT the country's leading life in
surance companies are turning to
urban home mortgages again with
increasing interest shows the stability
OF the present upturn in home build
ing and the soundness of the real
estate market" the survey said.
DR.. Koo Reviews Trade.
Writing on Chinese American
Trade and Its Future" DR.. wellington
v. X. Koo, former Chinese Minister
to the United States and now Chinese
Ambassador to France, discusses the
commercial relations between the two
countries in the current issue of
Think, magazine for business ex-
ecutives.
The balance of trade between China |
and the United States has been in
this Nations favor since 1895, and
today China imports more from us,
both in volume and in value, than
from any other country. At the same
time this country is the largest GUS
toner for China's exports. The to-
tai value of both imports and exports
has come up to more than half a
billion dollars and amounts to more
than one-fourth Of her entire foreign
trade, DR.. Koo declares.
This phenomenal growth OF Chi
nese-American trade in the face of
keen competition is only partly due
to American Improvements in pro-
duction, communication and trans
portation, he believes. The friendly
sentiment of the Chinese and Af1eri-
can peoples toward each other, how
ever, has played a unusually signifi-
cant role.
American ideas and methods, as
well as American products and wares,
are favored in China and have woven
the relations of the two countries
into a pattern of enduring friendship,
DR.. Koo says.
Heard in Financial District.
A large delegation of building and
loan officials will leave Washington
tomorrow to attend the annual con-
vention Of the United States Building
and Loan League in New York. Dele
gates from the District Building and
Loan League include Edward G.
Baltz Robert E. Buckley, c. Clinton
James and r. Wilson Camp. John
Fahey, head Of the H. o. L. c., will
be one Of the speakers.