Evening star., 1938-05-20
STOCKS SHOLDF|RM
0ND. c. EXCHANGE
Both Quotations and Yields
Make Fine Comparisons
With Markets Elsewhere.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Both quotations and yields on stocks
listed on the Washington Stock Ex-
change have held up much better IN
the first four and half months OF
1888 than host of issues on other
exchanges, including the New York
stock market. The bond record is also
notable.
The percentage stocks selling |
above pn- u. uue local board is much |
higher than on some of the biggest !
exchanges in the country. For ex-
ample, Potomac Electric Power 6 per |
cent preferred stock is now selling at
ia and the 5,a per cent preferred at
1925.
Washington Railway 6, Electric pre-
ferred sold the other day at 1922 and |
the last sale of the common stock was
registered at 616l2. Washington Gas
Light preferred sold recently at 98a. |
and the common at 25. The lowest
priced utility stock on the board is
Capital Transit, now around Z. Rail-
way common yields 5.83 per cent, high |
est in the utility class
Bank Stocks Also Strong.
Every bank stock on the board
which has figured in sales this year,
is now far above par. National Capital
Bank stock sold last at 1875, National
Bank of Washington at l30, Riggs Ma
tional Bank common at 276. Riggs
National preferred at 102 and Amerl-
can Security e. Trust at $50. riggs
preferred, at 102, yields 4.90 per cent
highest in the list. 1t pays per cent
Among the miscellaneous stocks |
Woodward g. Lothrop preferred tops
all others in price, the last sale being |
made at 1l3. 1t pays per cent to
yield 6.19 per cent. Peoples Drug pre-
ferred, at 11O34, comes next in price, |
followed by Security Storage at LOT. |
The other stocks in this class are |
selling under 100, but most of them |
are strong and return good yields.
While there are many issues on the
New York Exchange selling around l |
the lowest priced stock on the list here |
is Real Estate Mortgage & Guaranty |
preferred, at 5, and yielding 10 per |
cent.
Other issues might be quoted, which |
would reveal the same price flrnness
and about the same yields. 1t all goes |
to make record of which Washing |
ton exchange officials are justly proud. |
Galley Veteran Treasurer.
Albert S. Gatley, executive vice
president of the Lincoln National |
Bank, is now rounding out about 25
years service as treasurer of the Dis
trict Bankers Association. His annual |
report at the coming convention at
Hot Springs, Va, will be heard with |
great interest and like all his previous
reports is expected to show the asso-
citation in excellent financial condition. |
He is known as an expert on budgets, |
that being one reason why he has
made such an outstanding association |
treasurer over a quarter OF century. /
Mr.. Galley has always taken deep !
concern in association affairs. No |
doubt he will be urged to remain treas
urer for many more years. He has |
been connected with the Lincoln Ma |
tional Bank ever since it was opened |
His brother, H. Prescott Galley, is
president of the National Savings g. |
Trust Co.
Bond Outing Tickets Sold.
j. Clarke Brown, president of the !
Washington Bond Club, and MyleS H.
Quail, general chairman of the annual
outing which takes place at the Manor
Club on Friday, May 81, stated today
that all the tickets had been sold for
the mock stock exchange trading
more than 200. The tickets to the
outing have also all been taken and
more that $50 members and guests
will attend the annual frolic,
The stock exchange outing officials
are offered five elaborate prizes. The
first is an automobile: second, SIS
credit at department store, third,
SIS credit at clothing store; fourth,
$50 credit for merchandise; fifth, $50
credit at a sporting goods house.
Six consolation prizes will also be
awarded at the dinner and a door
prize OF a wrist watch, the prizes for
golf, horseshoe pitching and other
sports events being included.
April Air Mileage Scars.
United Air Lines today reported it
few total of 8,4l4,968 revenue pas
senger miles last month"; an increase
of A per cent over 5,844177 revenue
passenger miles recorded during April
last year. and an increase of % per
cent over March this year.
Bank clearings in Washington fer
the week ended Wednesday totaled
S23 $50 ,66058. against more than S28,-
100000 in the corresponding week a
year ago. They were also down 10
per cent from the previous week. Balti-
more and Richmond clearings We're
also lower.
Chairman Steagall of the House
Banking and Currency Committee, mas
introduced a bill to increase from
$4,000 to $4,000 the amount OF in
dividual deposits insured under the
Federal Deposit Insurance Corp.
Heard in Financial District.
The most interesting dividend an
nouncement SO far this week to Wash
ington is the American Telephone
declaration of the usual quarterly
1925 share, payable July Is to
stockholders of record, June Is.
Carman B. Blough, chief account
ant of the Securities and Exchange
Commission, will address a regional
conference of the American Institute
of Accountants at Salt Lake City on
May 81. Orval w. Adams, president
of the American Bankers Association,
is also on the program.
Mark Sullivan, jr, in his current |
comment on the stock exchange out
look, published by Auchincloss, Parker
& Redpath. says there seems to be
'few reasons for expecting a sudden
advance in prices, but it appears that
the groundwork is being laid for |
future advance by one method or
another"
Y. E. Booker, member of the Board |
of Governors of the Investment |
Bankers Association, who attended |