Evening star., 1936-05-03
SECUR|T|ESSTR0NG
ON D. c. EXCHANGE.
At CLOSE OF WEEK.
National Capital Bank Stock
Up Ten Points Over
Previous Sales.
BUILDING 48 PER CENT
HIGHER THAN IN 1885
Bank Clearings Ahead of Same
Period Year Ago, but Retail
Trade Lags.
BY EDWARD C. STONE.

BY EDWARD 4. SIONE.
In one of the busiest Saturday ses-
sions of the Washington Stock Ex-
change in several weeks, both stock
and bond prices held firm. National
Capital Bank stock appeared on the
board for the first time this year,
three sales totaling 90 shares taking
place at 100. This was a gain of 10
full points as the 1885 high mark for
the stock was ITO against low of 60
The market closed yesterday with l20
bid and none offered. Other bank
stocks more or elss active during the
week included Riggs National Bank
common and Washington Loan &
Trust Co. shares.
The largest share turnover yester-
day was in Capital Transit, 10, Is
and four 10-share lots changing hands
at IA. The price for the 125 shares
was stronger than the quotation on
several other sales recorded during
the week. Transit stock sold off frac
tionally following the financial report
for March and the first quarter.
Washington Gas Light stock was
in demand yesterday at 80. three 10
share lots and single share chang
ing ownership at that figure. Potomac
Electric Power 51s per cent preferred,
one of the most active issues on the
board, was again popular with four
sales registered at HE.
In the bond division, Washington
Gas Light IS, 1858, recorded a $500
sale at 107 and $500 Capital Trac-
ton IS sold at 81, slightly under most
of the other recent transfers. Other
bid and asked prices were steady
During the week securities here
seemed to overlook the declining mar
kets in New York. They often do
Building Again Advances.
Building activity in Washington
again scored substantial advances
during the past week, a jump of 486
per cent in dollar valuation being
reported over the same a week ago,
according to the Commerce Depart
ments weekly review
On account of cold weather during
the first part of the week, retail trade
in Capital stores was not up to the
previous week, falling off 1879 per
cent and also being 1877 per cent be-
low the corresponding week in 1885.
Bank clearings fell behind the pre-
vious week by 1877 per cent, the re-
port states. but showed gain of 1T
per cent over the same week a year
ago. This was in line with the sharp
pickup in April when the months
clearings in the Capital we're the
highest in five years, crossing the
sl00,O00.000 mark.
The commerce report for the whole
fifth district presented no striking
changes during the past few days in
business conditions.
Mortgage Bankers Cheerful.
Mortgage banking will continue to
improve in 1886 and into 1887, accord
ing to poll by the Mortgage Bankers
Association of America just completed.
The QUESTIONABLE reveals that Al per
cent of the members replying say their
business is steadily improving and
% per cent think that it will remain
stable" Only 16 per cent said it was
poor"
AS to the anticipated volume of busi-
ness this year, 81 per cent expect to
make between 100000 and S500,00O
of mortgages; IS per cent between
S500,000 and 81 900, 900; 16 per cent
more than S1,OOOOOO and only 9 per
cent under 100000. OF these totals,
So per cent of the membership expect
their mortgages to be largely on resi-
dences and apartments and 81 per cent
on commercial buildings and Offices.
Thirty-six per cent cited anticipated
curtailment of Government expendi-
lures as the reason for their more op-
timistlc outlook as compared with a
year ago, with improvement in the real
estate market generally and increasing
new construction as other reasons.
As to money rates, 81 per cent of |
the associations members polled feel |
that the trend will continue downward |
and 81 per cent think rates will remain |
fairly stationary. Only per cent of
the members think there is a chance |
of rise.
ThdHCIdi DfStTlct OOSSlp.
Francis G. Addison, president of the |
Security Savings and Commercial |
Bank, and chairman of the Program
Committee for the coming District
Bankers Association convention at
White Sulphur Springs, is making
rapid progress in lining up able speak
ers They will be announced in a
few days.
There was a general migration of |
bankers from Hot Springs to Wash
ington after the A. B. A. council meet
ing. One train brought 81 flnanciers
to the Capital for one reason or an
other, while AZ on the same train con-
tinued to New York. Many consulted |
Government departments, while others
came merely as visitors.
National Life Insurance week" |
starts one week from tomorrow with |
five speakers already secured by the |
District Life Underwriters Associa-
ton for the annual breakfast at the
Willard. Chairman John P. Lynch
and Vice Chairman O. H. Riggles an
nounce that 20 luncheon club meetings