Evening star., 1937-06-12
a n.
TO
Real Estate Bonds Decline.


For the I'VE months ended May 81,
the average price of real estate bond
iAsues showed decline Of 80 per cent,
according to the June l Amott-Baker
Realty Bond Averages, based upon 200
selected issues Of properties in New
York, Boston, Philadelphia, Washing
Ton and other eastern cities. For the
month Of May q decline of 80 per
cent was shown.
The composite average price of the
800 issues on May 81 stood at $424. a
decline Of $l3 from the $437 reported
at the end Of 1896. 1t was also behind
the $438 reported on April 80, $445
On March 81. SASS on February %
and $449 on January 81. 1897.
Theaters made the only gain in the
11ve months period with an advance
Of 7.S per cent. Losses during this
period were shown by apartment
hotels with 2.8 per cent decline, ONCE
buildings with 33 per cent, hotels
with 3.4 per cent, and housekeeping
apartments with 4.s per cent. For the
month, theaters declined IL per cent,
followed by ofnce buildings with a loss
OF 3.3 per cent, hotels, 3.4 per cent,
housekeeping apartments, 3.e per
cent. and apartment hotels, Al per
cent.
Warrington bonds in the list on
which the averages are based include
Hamilton Hotel nrst eI2s, which were
unchanged during the month; May
hover Hotel Co. frst IS, of | point.
and National Press Building first 512s
Oh 2 points in May.
Average Income Up in May.
The average American citizen at the
start OF May was about as well of
- he was at the beginning Of April,
but he had more money to spend than
On May l, 1896, and living costs did
not rise as rapidly as income during
the last II months, according to a
study OF what people earn and spend
a. reported monthly by Investors Syn
dicate OF Minneapolis.
The income OF the average citizen
At the start Of May was $l.32 for
every 81 received in May, 1896. Liv-
Ing costs last month averaged $1.09,
compared with 81 at the start OF May,
1885. Therefore the average citizen
had = real income"-that is, the
difference between what he earned
and what he spent-of 81 cents on
the dollar more than he had II months
aso.
Psstal Savings Show Slump.
Postal savings deposits decreased by
100000 In April as compared with
March OF this year, according to 4
tabulation in the Federal Reserve
Bulletin Of this month. This is the
ATst decrease for q year. A somewhat
similar decrease occurred in May,
1885, but At that time the recession
vas only 81, 900 900. As compared with
April OF 1895, there was an increase
Of 3s4 4,o0o.o 900.
Total trading on the Washington
Stock Exchange during the week was
the heaviest 1t has been in q long
time. Both stocks and bonds were in
excellent demand and prices held up
well. The hull on the New York Stock
Exchange has not been proportionately
heavy on the Washington board
The Division of Insolvent Banks,
ONCE OF the Controller Of the Cur
rency, since the last week in January,
has been averaging 209 sales of real
estate every week. According to Deputy
Controller Prentiss, one Of the most
dihcult problems is the disposal of
banks building when affairs are be-
ing closed up. In the past l8 weeks,
however, an average of six bank build
1nes . week has been maintained,
despite the fact that such structures
are known as 'one purpose buildings" "
Heard in Financia District.
Bank clearings in Washington for
the week ending June totaled $28,-
i7s,627.s9 against .864,0224s for
the corresponding period year ago
An increase Of l7.8 per cent. Clearings
were also up more than 10 per cent
over the previous week.
Norman E. Towson. assistant treas
urer Of the Washington Loan g. Trust
o., Is the author OF an article or
Commercial Activities and Their Ell.
feet Upon Banking" In the curren,
1ssue Of Bankers Monthly
The Rural Electrifcation Admins.
frAtion closed its allotment books fol
the current fiscal year with $46, ,4s9, ,4s2
earmarked for specific rural electri.
hcation projects out Of total Of $780,
900 900 made available for loans thi,
year under the terms Of the rura
electrihcation act.
Total output Of commercial and non.
commercial sand and gravel produc.
er was l72,66o,00 short tons, valued
at S6S,747,o0o, during 1896, 80 PEI
c@nt tonnage increase and 43 PEI
ctnt increase in value over 1885, &C
c\rdtng to preliminary returns re-
pprted by the Bureau of Mines.
sAbnormally heavy rains within tn,
past two weeks have ended the drough
In most Of the areas where It has ore