Evening star., 1937-01-07
BANK STOCKS LEAD
DC. EXCHANGE RISE
One Issue Up More Than 70
Points-TWo Others
Gain so Points.
BY EDWARD C. STONE.

IN the many sharp advances In
security prices on the washington
Stock Exchange during 1886 bank
stocks led the whole list. with one
issue gaining over 10 points and two
others so points.
Riggs National Bank common
opened 1896 at $50 and stepped up
to 325, closing the year at 322. Ameri-
can Security & Trust Co. opened at
$50 and ran up so points to 280, al
ready going still higher this year to
2s5. Washington Loan & Trust Co.
stock made the third largest advance,
starting at 2o3s4 and running up
practically so points to $50.
In the surprising come back Of bank
stocks National Capital moved from
120 to las. closing 1896 at 139la.
Liberty National closed at 100 and
Lincoln National at 203. Riggs Ma
tional preferred, which closed at l02.
years best price.
National Bank of Washington scored
q substantial pickup. the first 1886
quotation being 108A and the last
126. National Savings & Trust Co.
opened at 100 and added IS points
during the year. The Bank of Bethes-
da quotations moved from Is to 80,
adding to the general price upturn.
In the public utilities division Capt.
tai Transit sold lower at the end of
1886 than at the beginning. Norfolk
& Washington Steamboat stock moved
from 88 to los, closing at 10l. The
Potomac Electric Power stocks, al
ways at high levels, stayed in about
q four-point range Washington Gas
went from 701a to 80, and Washington
Railway &, Electric preferred closed
1886 at Ill after opening at 108A.
Other stocks doing exceptionally
well included Lanston Monotype,
which rose from 701s to 80; Mergen-
thaler Linotype, up to 81 from 41a.
and Woodward &, Lothrop common
stock, which climbed from 65 to 80
in less than II months. Other stocks
revealed modest gains. Many bonds
opened the year above par and also
closed over the 100 mark, maintain
ing notable strength through 1895.
Coffee Firm Votes Dividends.
Directors of the John H. wilkins Co.,
coffee and tea importers, have declared
q 4 per cent semi-annual dividend on
the outstanding preferred stock and a
dividend of Sl50 per share on the COM
mon stock, both payable on January
IS. President John H. Wilkins an
nounced today.
Thomas c. Montgomery, president of
the Bond Club of Washington, and
vice president of Waggaman, Brawner
q Co., announced today that the club
will have Midwinter dinner at the
Mayflower Hotel on Thursday evening,
January %. This is a new departure,
as the club for several years has con-
tented itself with holding luncheon
meetings. The past year in the bond
business has been so favorable that
It was decided that only dinner would
do under such bright conditions. There
will be no long speeches, the clubs
chief states.
Word has been received here that
Cosmopolitan Office Building & Theater
hrst IS Of 1888 have been called for re-
demption as Of January l at 103 and
accrued interest. The bonds. put out
on a Chicago Office building. are said
to be widely held in Washington. Hold
ers should bear in mind that interest
on the bonds has already ceased.
Endicott on A. I. b. Faculty. !
The Educational Committee. Wash
ington Chapter, American Institute of
Banking has announced the appoint
ment Of Ralph Endicott, assistant
treasurer, Washington Loan & Trust
Co.. to instruct a new course in bank
accounting and audit control"
Mr.. Endicott. a native of New
Jersey, has been associated with the
trust company since 1919 and has
served as auditor and assistant treas
urer for eight years. He is past chair
man of the Auditors Section, D. c.
Bankers Association, and was in
cluded in the first group of students
in the Graduate School of Banking at
Rutgers University, where he will
complete his course in June of this
year.
Insurance Leader 48 Years.
The forty-eighth anniversary of
Albert Stabler as a representative Of
the Provident Mutual Life Insurance
Co. Of Philadelphia was celebrated to-
day with luncheon at Wesley Hall,
given in his honor by Harold D. Kraft,
manager of the Washington ofice.
Mr.. Stabler joined the company's
stan January 7. 1889, as special agent |
and later became general agent for this
territory, which position he held for
many years. Since 1889 he has been
responsible for placing over 81, 900 900
OF insurance in this territory, and he
has seen the insurance in force of the
Provident Mutual grow from $50 00O,-
600 to $3.50. 100000.
Although past 73 years of age, Mr..
stabler Is continuing active life under
writing, and now looks forward to his
6ftieth anniversary.
Linn to Address Bankers.
Arthur j. Linn, controller of the
Hamilton National Bank, will appear
on the program at the coming A. B. A.
conference at Pittsburgh January 20
and 20, his subject being Income
From Banking Services" Details of
the first Of three sectional meetings,
which were inaugurated last year by
Robert v. Fleming, have just been
announced.
Forum discussions on current bank
ing methods and policies will feature
the two-day session. President Tom
K. Smith will preside and make an ad.
dress on why Banks Should Counsel
Together" and another on "Associa-
ton Activities" Some unusually able
speakers have been secured, the pro-
gram indicates.
Heard in Financial District.
Washington q Suburban Co.'S, a