Evening star., 1937-12-21
HIGH YIELDS SEEN
ION D. c. EXCHANGE
Lincoln Service Issues and
Steamboat Shares Stand
at Top of List.
BY EDWARD C. STONE.

Many strikingly high yields are
washington Stock Exchange, in these
days when high yields are so rare,
especially with safety" The ques-
ton OF safety, however, is not being
considered in calling attention to the
stocks which now bring the highest
returns.
Lincoln Service Corp. preferred
stock, selling at AZ, yields $40 per
cent and stands at the top of the
list, while Lincoln Service common.
selling at 18, offers return of $50
per cent
Next to the top comes Norfolk &
Washington Steamboat Co. stock,
which last sold at S75 share to yield
8 per cent. Then come Carpet Corp.
and Mergenthaler Linotype. Carpet
sold the other day at 26, making the
yield stand at 7.69 per cent, while
Mergenthsler, changing ownership at
rs, means yield of about 7.34 per
cent.
Washington bank stocks have ad-
vanced so much during the year that
they do not return as high yields as
many of the other issues. Riggs Ma
tional preferred at 1915 returns
about 495, while the common yields
2.S0 National Capital Bank yields
275 per cent, Liberty National 259,
National Bank of Washington 4.40,
American Security g. Trust 313.
Washington Loan e. Trust 3.47 and
the Bank of Bethesda 220 per cent.
Bank of Commerce g. Savings returns
425.
Good Utility Yields.
Among the utility stocks Potomac
Electric Power 6 per cent preferred
now returns $50 per cent and the
512 per cent preferred 491, Washing
ton Gas Light preferred ASS and the
common 6 per cent, Washington Rail-
way & Electric preferred 4.59 and the
common 5.56.
American Fire Insurance yields S
per cent and Firemen's Fire Insurance
Co. 5.51 per cent. Columbia Title
Insurance pays 3O7 and Real Estate
Insurance Co. 343. Lanston Mono
type yields 5.71, Peoples Drug COM
mon 285, Peoples preferred 585,
Security Storage 5, Terminal Re-
frigerating g. Warehousing Corp.
4.1o, Woodward & Lothrop common
$50 and Woodward e. Lothrop pre-
ferred 5.83 per cent.
Many of these issues have sold off
during the business setback of the
past few months. AS the prices have
dropped, yields have naturally ad-
vanced. When the business upturn,
which is now being predicted, really
develops, quotations on the Washing
ton exchange will work higher at
the same time leveling off the present
extra high yields.
Interest Declared on Bonds.
The Board Of Directors of Washing
ton Properties, Inc, has declared in
terest on the company's 10 general
mortgage income bonds for the six
months period ended October 81,
1887, at the rate of 2.45ee. With this
payment and the payment made early
In the year, interest for the fiscal year
will have been paid at the rate of
So per cent.
Checks for the interest payment
here announced will be mailed on
February l by the Central Hanover
Bank & Trust Co, paying agent, to
bondholders of record at the close of
business January 20.
Washington Properties operates the
Carlton Hotel, Wardmar Park Hotel
and several other important hotel
properties and apartment houses in
the city.
d. C. Brokers More Cheerful
There has been notable change in
the atmosphere in the Washington
Offices of New York Stock Exchange
Arms in the past two weeks.
G. Bowie Chapman, manager of
Iaidlaw & Co, said today he believed
things are going to be better. In his
opinion the selling has been overdone
and the stock market is due to i'm
prove, if for technical reasons only
He says it looks at the moment as if
the bottom had been reached.
Frank P. Morse, one of the managers
OF the local office of Charles D. Barney
& Co., looks for better market in
1888, basing his views partly on the
strong probability that the Govern
ment will cooperate more closely with
business as time goes on. He also ex-
poets a turn in the steel rate and i'm
provement in other indexes in the not
distant future.
Other brokers point to the fact that
SELLING for tax losses" ends this week,
adding that most of it is already over.
History proves, say these brokers' that
when it is the gloomieSt in Wall
Street, a turn is near; how far it will
go depending on countless different
factors.
Fleming on New Council.
Robert v. Fleming, president of the
Riggs National Bank, has been ap-
pointed to the American Bankers
Association Public Relations Coun-
Gil. The new committee has just
been formed to expand the associa-
tion's public relations activities.
Willard G. Barker, president of the
Morris Plan Bank, has returned to
his desk from two-week vacation
in Florida. He reports the winter
season getting off to lively start
z. A. Pierce, head of E. A. Pierce
& Co., and Philip w. Russell, senior
partner of Fenner g. Beane appeared
yesterday before Committee for Study
of the Organization and Administra-
ton of the New York Stock Exchange
At meetings later in the week others
will appear before the committee.
M. S. Szymczak, one of the gov
ernors of the Federal Reserve Sys-
tenn; David Friday, Washington econ
omist: Donald S. Thompson and
Homer Jones of the Federal Deposit
Insurance Corp, will be among the
speakers at the annual meeting of
the American Statistical Association
and the American Economic Associa-
ton, meeting jointly at Atlantic City,