Evening star., 1938-05-04
VOLUME CLIMBS
0ND.C.EXCHANGE
March Total of s88,518
Compares With $64,440
in February,
By EDWARD C. STONE.

ruary, the Securities Exchange Com
mission reported today.
During March the dollar volume in
stocks amounted to S76.624, as COM
pared with only S5l ,225 in the pre-
ceding month The number of shares
changing ownership was also very
much larger, 1859, comparing with 8l6
shares in February.
Bond trading on the Washington
exchange was very light in both
periods. The March dollar volume
amounted to sll,s94, in comparison
with S13,215 in the second month of
the year. Total principal amount of
bonds sold was $4,000, against Sl4,500
in February.
The Washington record compares
very favorably with the other smaller
exchanges. In Richmond business
was almost exactly the same in the
two months. In Baltimore business
was better in stocks, but there was
a notable drop in bond transactions.
Dollar value of sales on all registered
securities exchanges in March
amounted to Sl,023 .667,334, an in
crease of 2S9 per cent over the value
of sales in February and decrease of
700 per cent from March, 1887. Stock
sales, including rights and warrants.
had value of s8846l7,798. an increase
of 29.8 per cent over February Bond
sales were valued at sl39,040,6 SOB. an
increase of 23.3 per cent over Febru-
ary.
Transit Earnings Improve.
Review of earnings of the Capital
Transit Co. in the first quarter for the
past three years discloses that the
trend has been steadily upward.
Net earnings in the first three
months of this year totaled sl5,9S5
in comparison with a deficit in the
first quarter OF 1887 of s2,5l4 and a
deficit in the corresponding quarter
of 1886 of the very much larger
amount of sS4663.
glance at these figures brings out
the significant fact that the company
in the first quarter Of 1858 operated
in the black for the first time in three
years, in spite Of higher wages, higher
taxes and higher depreciation. The
comparison shows an improvement in
net income since 1886 of almost $780,
600.
First quarter earnings also indicate
that the full year 1888 will show a
larger net than last year. Net earn
ings in 1896 were around 100000 and
in 1887 around $4,000 With profit
instead Of a deficit so far this year,
the outlook is considered brighter by
company officials
While it takes s24Ooo0 to pay a 81
dividend on the stock. stockholders
will get little more cheer over present
prospects than at this time a year
ago. Holders Of Capital Traction SIS
will also watch the earnings trend for
the rest Of tho year. These bonds are
now selling around IS. against 90 at
this time last year and SO two years
ago. The present price appears to
ignore the fact that the company spent
s1l,20o,o0O on improvements while the
bonds were declining.
Stone to Address Auditors.
Edward Stone of the Resettlement
Administration will address the au-
ditors' section of the District Bankers
Association at the May dinner meet
ing to be held at the Lafayette Hotel
on Thursday evening, May IL, it was
announced today. His subject will be
Reflection on Current Economic
Trends" His previous addresses to
bankers have proved most interesting
and informative.
Thomas c. Boushall president of
the Morris Plan Bank of Virginia.
Richmond. has been elected a director
of the United States Chamber of
Commerce for two-year term. He
will represent district Ill. which in
cludes 1875 organization memberships
in Virginia. West Virginia, the Caro-
linas, Maryland and Washington. He
is chairman of the board of the Morris
Plan Bank of Washington.
Frank E. Ghiselli, who is connected
with the investment firm of Robert C.
Jones e. Co., has returned to his
desk and is being cordially greeted
in the financial district after an abb
sence of month. On April he and
his wife were painfully injured in an
automobile accident.
Baltimore Agents Entertained.
The Life Insurance Club of Wash
ington entertained the Life Agents
Club of Maryland at the Congressional
Country Club last evening The Bal
timore- party included DR.. Robert
Retzer. club president; Louis M. Adler,
j. Lanard Bevans. c. F. c. Coburn
and U. S. Dowell. Mai. Guy Withers,
newly elected president of the WASH
III lnl
was present and the evening was
passed in free discussion Of vital life
insurance matters.
William j. Graham, first vice presi-
dent OF the Equitable Life Assurance
Society of the United States, will be
given reception by the Washington
agency at the Congressional Country
Club this evening. Senator Burke,
James J. Pelley, Executive Vice Presi-
dent Frank Jones and Agency Director
David S. Bethune will speak.
U. S. Wholesale Trade Lower.
Dollar volume of wholesale trade
declined II per cent during March, as
compared with March. 1887. accord
ing to reports from 1900 wholesalers
cooperating the monthly joint study
of the National Association of Credit
Men and the Bureau of Foreign and
Domestic Commerce. This was the
largest decrease in sales from the
same month of the previous year
shown for any month in the last half
year.
The rate of collections on accounts
receivable outstanding also declined
from last March. Collections during
March, 1888, amounted to SO per cent
OF accounts receivable outstanding on
the lst Of the month. The correspond
ing ratio was 81 per cent for last
March.
Heard in Financial District.
Francis G. Addison, jr, president of
the Security Savings q Commercial
Bank, is receiving many congratula-
tions on his election to the presidency
Of the Board of Trade. A former