Evening star., 1936-12-31
CAPITAL BUSINESS
MOVES FORWARD
Deposits and Many Other
Barometers Register
Further Advance.
Continued From First Page.) }

considered by merchants 10 De con-
servative estimate. It may run higher
because of the wild rush in final
Christmas shopping.
It has been estimated that holiday
trade alone was between 10 and 20
per cent better than last year. An
estimate by the Department Of Com
merce placed total December sales in
the Capital at $40000,000. although
no attempt was made to separate
regular shopping from extra holiday
sales, the different ways the money
was expended having no bearing on
the total 1886 retail sales volume.
Merchants were delighted with the
years business. They point with pride
to that fact that the increased busi-
ness followed very important gains
during 1885, when retail sales were
the best since the days before the de-
preston. The progress attained since
1884 has been nothing less than phe-
nomenal, leading merchants assert.
Busy Year on d. C. Exchange.
The Washington Stock Exchange
enjoyed an excellent year. The year
1886 closes with prices Of most stocks
and bonds considerably higher than
they were in 1885. The market was
also much more active. the demand
for many local securities being larger
than the supply. Exchange members
report many orders on their books
which they cannot fill. In some cases
quotations are too high at which
stocks are offered, in others investors
do not want to sell at any price.
The most important new issue reg
istered on the Washington Exchange
in 1896 was listed by the Potomac
Electric Power Co. This concern put
out $l5,000,000 first mortgage ga per
cent bonds, refunding an issue of 8
per cent bonds due in 1858. The first
sale on the exchange was made at
104l2 and the bonds went to l04%.
Public utilities have done well dur
ing the year. with the exception of
Capital Transit stock. This issue is
now selling around IA. The company
has had a hard battle with increased
expenses during the year. which have
not been offset by mounting revenues
Officials expect the picture to change
with the adoption of the universal
$1.25 weekly tickets in the place Of
the 81 passes so long in use.
One Of the high lights on the
Washington Exchange has been the
increased popularity in bank stocks.
Their comeback has been rapid. They
have grown stronger. many surpris-
ing advances in quotations being
chalked up on the board. For a time
after the bank holiday bank stocks
were in complete disfavor The turn
came in 1895, but the real demand
has developed in 1886. 1t seems here
TO stay, especially with double liza
bility" doomed.
Bank Stocks Much Higher.
During 1886 Riggs National Bank
common reached 1925 a share, the
highest-priced bank stock on the
board. American Security e. Trust
got up to $3.50 and Washington Loan
&, Trust to $3.50 a share. Other issues
made as good gains proportionately.
The year ended without q single sale
in Washington Railway g. Electric
common stock, the highest-priced is
sue on the exchange. For some time
the bid has stood at 5000 a share.
Higher earnings, together with sew
eral increases in regular dividends, as
we'll as some extras" have been
vital factors in forcing bank shares
back to their former rungs on the
financial ladder.
The per share turnover was greater
than last year. Broader interest was
also disclosed in the exchange, as was
evidenced by the number Of new
members admitted. eight in all. This
was the largest number Of seat trans
fers in several years.
The hunt for good investment me-
diums did the rest in making 1886
such a notable IL months on the ex-
change.
Bond Dealers Again Happy.
Much more might be said Of 1896
prosperity. Bond dealers have ex-
perienced a splendid year, the array
OF refunded issues giving them a
chance to get back into old-time form.
There have also been a very satisfy.
ing number of senior issues represent
ing new money" Best business
since 1929" dealers add.
New life insurance written in
Washington in 1886 was about the
same in the total amount as in 1885.
This means a lot, as 1895 saw gains of
something like 80 per cent over 1884
and set very hard pace to follow.
The 1886 record would have been well
above 1885 except for the presidential
election, insurance leaders state. Many
Government workers holding non
civil service places were unwilling to
sign up for insurance during the cam
paign because of the uncertainty OF
their positions.
Brokerage houses here report most
substantial increases in business over
1885. Margin trading is at low
ebb. considering what 1t might be
with the present supply of credit.
But investment business and buying
for cash" are far, far ahead Of 1885
The long upswing in the big markets
has drawn a great many old-time in
vestors and spectators back into the
fold.
1897 Outlook Held Bright.
The magnitude Of the financial re-
suits in 1886 has developed mo-
mentum that BODIES well for 1887
Bankers, merchants, investment ex-