Evening star., 1937-06-17

several other sales The same cor
poration's 6 per cent preferred re-
Gently registered HE.
Washington Gas Light stock is
now selling at n, off a point from
other recent transfers. Washington
Railway g. Electric preferred, at
HOS, is down an eighth from
other late sales. Washington bank
stocks have been strong in re-
cent markets, having shown prac-
tlcally no quotation recessions. In
the miscellaneous list Lanston Mono
type has been strong and Mergen-
thaler Linotype has been holding its
own. Real Estate Mortgage & Guar
anty preferred has lost little
ground, selling under S.
On the bond side Potomac Electric
Power 3l4s have been selling at 1O2
so frequently that they almost seem
"pegged," Washington Gas SIS, 1858,
have sold off fractionally. Washing
ton Railway g. Electric IS sold at
1864 the other day, recording an
advance. Other quotations might be
cited, but these are sufficient to pic
ture the steadiness of the Washing
ton market when prices on other eX-
changes are most irregular, to say
the least.
Downey Heads Auditors Group.
Harry L. Downey, just elected chair
man Of the Auditors Section of the
District Bankers Association, has been
employed by the Washington Loan
& Trust Co. since 1917. Born in
Pennsylvania in 1898, he came to
Washington in 1916, graduating from
Stewart's Business College and the
Pace School of Accountancy. His first
position with the trust company was
as a bookkeeper. He was then made
receiving teller, later head bookkeeper
and Is now chief of the accounting
division.
He became connected with the au-
1ltors' section of the Bankers As
ISOLATION in 1881, was elected men,
Der of the Executive Council in 1888,
5ecretary and treasurer in 1885, and
vice chairman in 1886. He was ad-
"anced to the Craftsmanship at the
annual meeting held last week.
Addressing Oregon bankers, Con-
roller j. F. T. O'Connor announced
hat loans and discounts of national
banks have increased $201 ,876,00O
since the December 81, 1886, call, and
5ince the March call year ago, they
have increased s1,038, 100000. The
percentage of loans and discounts to
otal deposits on March 81, 1887, was
3l,94, compared with 1884 on De-
cember 81, 1886, or 2989 on March
!, 1896.
American Stores Sales Up.
American Stores Co. sales for the
our weeks ended May 90 totaled So
e4,869, as compared with s8,4l1,377
n the like period a year ago, an in
"rease Of s483,492, or ST per cent, it
Tas reported today. Sales for the first
~lonths of this year amounted to SAT-
986,138 against 47,75l 1888 a year ago,
increase of S234,745, or O.5 per cent.
he May increase in sales was much
letter than the April returns when
business gained 0.5 per cent over
April, 1886.
Southern Earnings Improve.
The Southern Railway Co. reports
Or the four months ended April 30
net income equal to 81 cents share
n the common stock, compared with
d.. net loss of $188129 in the first four
months of 1886.
The Chesapeake & Ohio Ry. reports
or i've months $165 a share earned
N the common stock against $1.95 a
year ago. This is really an excellent
showing in view of the flood conditions
hat prevailed this Spring, while the
road had no such troubles early in
1886.
The Seaboard Air Line reports net
loss in April, 1887, of slSl, 1903, against
net loss in April last year of S456,01O
and net loss in the first four months
of 1887 of $496, 1893, compared with a
net loss Of s2,044,717 a year ago.
Heard in Financial District.
Charles D. Barney g. Co. has been
awarded new issue of Clearfield
County, Pa, 2l2 per cent bonds, dated
July /, 1887, due July /. 1888 to 1e49.
The bonds are being reoffered at lO11a
for all maturities.
Income tax collections during the
first Is days of June this year were
estimated by the Treasury to be $780,
BALTIC, compared with $276,953,6lO
during the corresponding period of
last year, an increase of about 50 per
cent.
The Securities and Exchange Com
mission officials indicate that Con-
gress may soon be asked to forbid in
vestment trusts becoming holding
companies by putting a percentage
limitation on the investments of trusts
in other companies.
Today's Trading on Exchange.
On the Washington Stock Exchange
today, Potomac Electric Power per
cent preferred sold at 1121s and the
corporations 51z per cent preferred
appeared on the board in small-lot
sales at 112. Washington Gas Light
opened at II on q 1O-share sale,
dropped to 1914 on the next similar
transfer and closed at rs for a Z
share lot Other issues were quiet.
Daily average grocery chain store
sales for May were up per cent over
May, 1886, and for the five months of
1887 AZ per cent over last year, the
Commerce Department reported today.
The Magazine of Wall Street says
that credit control will not be further
extended by the Government at present
as some advisors fear they overdid
things in "puncturing the early Spring
boomlet." They now fear that busi-
ness activity in the next few months
will not be as high as anticipated.
Next weeks principal item on the
bond issue calendar will comprise $25,.
100000 New York Telephone 3A.
Quick sale Is already predicted.