Evening star., 1938-02-08
ADVANCE SCORED
. BY REALTY BONDS
Washington Issues Gain or
Hold Steady Levels Dur
ing January.
BY EDWARD C. STONE.

creased % per cent for the first rise
in any month since February, 1887,
according to review of 200 selected
liens made by Amott, Baker g. Co.
National Press Building first IS made
the best showing in the Capital with a
gain Of 3 full points. These bonds
are now selling over the counter above
IS, the latest bid being 65. with 69la
asked
Mayf1ower Hotel first S. 1850, gained
half point in January, the latest
sales in this issue being above Is. The
hotel bonds closed last week with 741s
bid and 1872 asked
Hamilton Realty Corp first IS held
their ground in January. At the end
of the month there were bids for them
at SO, with 81 asked by present holders.
Washington Properties. Inc, general
income Is, for which 43l2 is now bid
and 48ll asked, also held around pres
ent levels during January
The New York firm says that 80 OF
the 200 selected issues showed in
creases in January, 81 remained un-
changed and So sold lower. Apart
ment hotels reported the largest gains,
per cent, while housekeeping apart
ments made the poorest record, being
off 1.3 per cent.
d. c. Bank Stocks Strong.
Washington bank stocks are dis
playing more and more strength as
1888 advances. This fact has not been
fully reflected by recent sales. While
there have been quite number OF
sales on the Washington Stock EX-
change in American Security &, Trust
Co. and Riggs National Bank stocks,
yet many other issues have not ap-
peared on the board.
Yesterdays session of the Wash
ington exchange was an excellent
example of the strength in these
stocks. Bids for some bank stocks
were raised from three quarters of a
point to as much as full points. Yet
there we're no sales. the higher bids
showing that investors were unwilling
to part with their stock. The greater
strength among these stocks. however.
has caused wide comment among ex-
change members
The tight grip which Washington
investors keep on their investments is
one reason Why business on the Wash
ington exchange fell off last year.
The Securities and Exchange Commis-
sion reports that the dollar sales value
of both stocks and bonds on the eX-
change in 1887 was ST ,613.714 against
s2.39OO73 in 1886. In the stock divi-
sion per share trading dropped from
24,74s in 1886 to 2o.87S in 1897.
Host to Baltimore Auditors.
The auditors section of the District
of Columbia Bankers Association will
be host to the Baltimore Auditors
Conference, both of which are men,
bers of the National Association OF
Bank Auditors and Controllers, at
a meeting to be held at the La Fayette
Hotel on Thursday at pm. DR..
Elmer Louis Kayser, dean of univer-
sity students, George Washington Uni
versity, will be the principal speaker
of the evening.
According to Harry L. DoWney.
Washington Loan G. Trust Co., chair
man of the local section, there will
be an attendance of over 40 members
from the Baltimore section.
Eastern Re-elects Officers.
William N. Payne. jr., was reelected
president of the Eastern Building g.
Loan Association at the recent annual
meeting. Other officers and directors
we're also retained in Office:
Clarence F. Donohoe, vice president;
r. Edward Early. secretary; William H.
Harrison, treasurer; Alfred R. Keir,
assistant treasurer, and Arthur G.
Bishop, attorney.
The directors include Walter NJ.
Bastian, T. Earle Bourne, William J.
Brewster, Charles A. Garry, Clarence
F. Donohoe, William H. Harrison, Os-
bourn Owings, William N. Payne. jr..
and J. Chester Pyles. The annual
report showed that assets are now
close to S2,00O,000.
Fleming Addresses Builders.
Robert v. Fleming, president of the
Riggs National Bank addressed the
Washington Building Congress yester-
day noon on Banking and Building"
He gave most interesting and in
formative address in which he stressed
the importance of loW-priced housing
construction to the District.
He stated that there are ample funds
for any construction purposes that
might be started in Washington, al
though the need for such new con-
struction should be clearly shown. He
added that at present there seems to
be greater need for low-priced houses
than for more apartment houses.
Bond Club Reservations Gain.
President L. Clark Brown of the
Bond Club of Washington said today
that there will be between ITO and
125 bond men and guests at the an
nual dinner at the Mayflower Thurs
day evening. Guests will include
Thomas j. Groom, president of the
District Bankers Association, and Ord
Preston, vice president of the same
organization. About 40 other banks
have already made reservations. The
prizes this year are to be the most
elaborate yet presented. AS already
announced, Strickland Gillian will be
the guest speaker.
c. & p. Phone Board Listed.
At the annual meeting of the
Chesapeake g. Potomac Telephone Co.,
held in New York yesterday, the
following directors were reelected:
Philip o. Coffin, William w. Everett,
Robert v. Fleming, Edwin c. Graham,
DR.. Gilbert Grosvenor. John Poole,
John A. Remon, Harry L. Rust, jr.;
John Saul, Merle Thorpe and Lloyd
B. Wilson, Washington, and Fred
LAWS, New York.
1,500 Invitations Sent Out.
Plans for the thirty-third annual
banquet of Washington Chapter,
American Institute of Banking, to be
held at the Willard Hotel on Febru-
ary 10 are progressing rapidly. Fiji
teen hundred invitations have been
sent to local bankers, and the re-
sponses definitely indicate capacity
-