Evening star., 1938-07-12
TRADING S[UMPS
0ND.C EXCHANGE
Volume in First Half of 1888
Well Below Like Period
in 1897.
By EDWARD C. STONE.

Trading on the washington Stock
Exchange, which has shown a sharp
upturn In recent sessions, even as
suming bull market" proportions, ex-
perienced a considerable falling of
the first half of this year in COMPARE
son with the first six months Of 1887,
according to survey of the two
periods.
The total Iollar value of bond sales
on the washington Exchange in the
first half of 1898 was only $4,000,
while bond trading in the like period
of 1887 recorded total valuation Of
$685., 900, a drop in dollar volume this
year Of $245, 1000.
The slump is also severe in the stock
division. where the turnover in the
first half of this year amounted to
$3.50 shares, against 1890 shares in
the like 1887 period, decrease of
1871 shares.
This years record to date is also
under the first half of 1886. when the
turnover totaled slightly more than
1l,000 shares.
Gas Bonds in Best Demand.
The survey discloses that Washing
ton Gas Light S. 1858. were in great
est demand in the half year trans
actions. The dollar volume reached
$36,500 in this issue. The bonds were
strong in price, running from Lei: to
9nR1L Tta ~nvt To- roocf
in Capital Traction SIS, which sold
lower during the six months and closed
at 81. although they have since moved
'up to 66la.
The third largest demand was for
Washington Gas Light IS, 1860. which
ended the period at 1l7s.. being the
highest priced bonds on the board.
Near these bonds in demand were
Washington Railway G Electric Is,
which sold at 1867 at the end of June
Georgetown Gas Light first SIS were
very strong in price. selling at lis,
but in modest demand.
Naturally, the largest share turn
over in stocks has been in the low
priced issues. More than $500 shares
OF Capital Transit stock changed
hands in the half year around and
and 2,454 shares Of Real Estate
Mortgage & Guaranty preferred
changed ownership at ~. and S.
Mergenthaler Linotype has been ac-
tive, with a 1884 share turnover The
Potomac Electric Power and WASH
ington Railway & Electric issues have
remained far above par.
Bank stocks have been growing in
popularity. with American Security &
Trust in the strongest demand. All
these stocks are above par.
Railway Common Tops Prices.
Washington Railway & Electric COM
mon continues to be the highest priced
stock on the Washington Exchange.
the last sale registering s6l6.50 a
share.
The Securities and Exchange Com
mission recently reported the dollar
volume of sales on the Washington
Stock Exchange in May as $6l ,504,
against $7l. .507 in April Stocks were
ahead of the previous month, dollar
volume reaching $50 ,040, against $44,-
6l3 in April. Per share turnover was
$50, compared with 9l9. There was
tremendous drop in bond trading, dol
lar volume amounting to only 1854.
against So, ,894 in the previous month.
The market started the present week
with a rush. Liberty National Bank
stock opened with a sale Of ITO shares
at 157, followed by a 500-share sale
at l60, up full points from other
recent sales 1t was by far the biggest
bank stock turnover of the year.
Washington Gas Light preferred got
up to 991s, new high on this move
and an unusually impressive record in
view of the fact that 10000 additional
shares were recently placed on the
market here.
Construction Picking Up.
The Commerce Departments latest
review of conditions in the Fifth Re-
serve District reports that construction
of a new post Office at Charleston,
s. c., will begin shortly Notice has
been received that S465 900 has been
allotted for the building.
Allotments have also been made for
$4,000 post Office building at Easley,
S. c., and a $4,000 post office build
ing at Bishopville, S. C. 1ntracoastal
waterway Improvements of South
Carolina are estimated to cost ST.
575,600.
Rigs Declares Dividends.
Directors of the Riggs National
Bank declared the regular semi AN
nual dividend on the preferred stock
at the July meeting of the board yes
terday, President Robert V. Fleming
announced today. The dividend Is
payable August l to stockholders OF
record July II.
The directors also declared the
regular dividend on the common
stock, 50 per share, payable July Is
to stockholders of record July II. and
So per share payable October Is to
shareholders of record September 80.
The board authorized the transfer
Of $50,000 from undivided profits to
surplus account, Mr.. Fleming said.
District Trade Improving.
The decrease ofsonly Ia per cent In
department store sales in Washington
in June from June year ago was
the best showing in several months,
according to the figures from the
Federal Reserve Bank of Richmond.
The difference of only 3.5 per cent in
the first half year indicates that trade
is getting almost back to last years
levels.
Improvement also is being reported
In other fifth district cities. Richmond
announcing q slight gain in the first
six months of this year, compared
with the like 1887 period. Norfolk
came within IL per cent and Balti-
more within So per cent Of the 1887
half-year mark.
Suburban Bond Bids Asked.
The Washington Suburban Sanitary
District, Maryland, will receive bids