Evening star., 1937-04-12
PRICES HOLD WELL
0ND. EXCHANGE
Both Stocks and Bonds Set
Notable Records in First
Quarter.
BY EDWARD C. STONE.


revealing the fact that the local ex-
change is largely an investment
market, Lttl, touched by the countless
speculative factors that play such a
vital part in sudden price changes in
Wall Street.
In the bond division AnacoStia g.
Potomac River R. R. first SIS opened
the year at n and sold at the end of
the first quarter at rs. The same cor
poration'S guaranteed SIS opened 1887
at 110& and three months later were
selling at ll1&. Capital Traction SIS
ended the quarter at 92l2 after being
as high as 81. City & Suburban first
5s at 81 y were lower at the end of the
period than in 87l2, in January.
Georgetown Gas 5s, 1861, opened the
year at 125 and changed but two points
in the three months. The compara-
lively new Potomac Electric Power
314s started out at 1041a, but sold
recently at 101 Il. Washington Gas IS,
1858, dropped two points and the Gas
IS, 1860, sold from 1876 to close the
quartG at 121 Railway & Electric 4s
were very little changed, closing at
105%.
In the stock division bank stocks
maintained notable strength. Another
stock in which thee is exceptional
interest, Capital Transit, opened 1887
at 1413 and ended the quarter at IA
The Potomac Electric Power preferred
issues have been consistently strong, as
have Washington Railway & Electric
preferred and common, the common
last selling at $725 share Miscel-
taneouS stocks have behaved we'll al
though most of the quotations were
not as high at the end of the quarter
as earlier In addition to price firm
ness in most issues, trading volume
has also been upward
Agents Win Convention Trip
Raymond L. Bland, George C.
Campbell, James A. De Force, Joseph
w. Gibson, George r Howard, Francis
F. Miller, Edwin P. Parker, Frank D.
Roach, Charles NJ Schwab and
Dwight T. Scott, all members of the
Washington general agency of the
Mutual Benefit Life Insurance Co.,
are attending the company'S national
convention at Atlantic City. They,
with 300 other top-ranking repre-
'sentatives from all parts of the Ma
tlon who qualified, will hear Dale
carnegie, famous author, speak at the
convention banquet.
D, Various company headlinerS will
also be heard. George T. Howard and
Dwight T. Scott of the Washington
agency will participate in the program
Investment Farley Praised.
The Washington delegation was
back in the financial district today
Hrom the Investment Bankers Asso-
sciation conference at Southern Pines,
m. c., all the members being most
enthusiastic over the tWo-day session.
Chester T. Lane, assistant general
counsel of the Securities and Ex-
lchange Commission, gave a most in
formative talk from legal stand
point on some of the important
regulations and policies in the secur-
tties act. Many of the rules over
which there has been more or less
controversy are clearly stated in the
law and the commission has no alter
native in the manner in which they
are administered, he said. He went
into detail on the rules governing
prostectuses governing new issues,
registration, rules governing the dis
tribution of additional securities of
an issue of long standing.
His talk was followed by long
round-table discussion in which he
answered many timely questions. At
the same time the investment dealers
informed him of some of the most
difficult problems with which they
have to deal and which would make
their point of view more clear to the
commission.
Railroad Situation Reviewed.
Col. Henry w. Anderson, co-receiver
for the Seaboard Air Line Railroad,
gave comprehensive summary of the
present railroad situation. While men,
tioning the enormous taxes paid by
the railroads, he took occasion to state
that some of this tax money is used
for the construction of highways
which are used only by automobiles
and trucks which are in direct COM
pPlbtOL Will LIE railroads.
He believes the Interstate Commerce
Commission has done remarkable
gob in regulating the railroads, but
also considers this regulation should
be expanded to other carriers until
unfair competition is checked. He
also sees this regulation as needed in
the steel, motor, Oil and all other in
uustries which are so closely tied up
with public welfare
Other speakers were John S, Linen
vice president of the Chase National
Bank, who devoted his remarks par
ticularly to municipal bonds, and
Charles M. Johnson, State treasurer
of North Carolina. Mr.. johnson pic
tured the brilliant results attained in
cutting government expenses in his
State and the resultant great i'm
provement in the standing and prices
Of State, municipal and county bonds.
Y. E. Booker, chairman of the
Southeastern group last year, said the
meeting was one of the very best yet
held. The largest delegations we're
from Washington and Baltimore.
Maryland, Virginia, West Virginia and
the Carolinas are the States in the
Southeastern group.
Heard in Financial District.
The Cleveland district made the
best showing among the IL Reserve
districts in March retail trade, gaining
80 per cent over March, 1886. Atlanta,
Boston and San Francisco were ahead
2t the 10 per cent advance reported
by the Richmond Reserve Bank.
c. M. Eisele of Washington, presi-
dent of Southeastern Industrial Bank
ers, Inc, will conduct a forum on
"Capital Financing for Increased
Volume" at the national associations
third annual institute, to be held at
Fort Wayne, Ind, on May 13, IA
and Is.
Insurance reports continue to be
particularly favorable. The Phoenix
h611tIol Tifa Tn ~ al