Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-12-21


so much of December, the years
total sales will far surpass the 1899
total, while net earnings will show
similar results.
Exchange Trading Heavy.
Trading on the Washington Stock
Exchange today was the heaviest of
any session in several months. Capt.
tai Traction SIS were again in large
demand, selling SO and 98ls. WASH
ington Railway & Electric 4s came
out on a $4,000 sale at l0Si.,
Washington Loan &, Trust Co.
stock figured in two sales at 235
Potomac Electric Power 81, per cent
preferred stock appeared on the
board at 1l45s.
Mergenthaler Linotype was much
stronger. opening 14s4 and closing
at l5ie on good-sized turnover.
Capital Transit stock also came
to life, several sales being registered
at AL 1412 and l45s.
1t was announced that the ex-
change will be closed on Saturday
and also on Monday.
Bank Pays Christmas Bonus.
The Prince Georges Bank &
Trust Co. of Hyattsville and Mount
Rainier announced today that the
directors have voted a substantial
Christmas bonus to the institution
employees.
International Business Machine
Corp, which has a Washington Of
flee, has retired Sl,O00.OOO principal
amount of its issue of s1O,OOO,OOO
per cent debentures. due 1916, which
is held by the Prudential Life In
surance Co. of America. President
Thomas J. Watson announces.
The receiver of the Mechanics
Loan & Savings Bank of Hagers-
town, Md, has mailed checks
amounting to s8689969 to deposit
tors, 5 per cent distribution. This
is the eighth distribution under re-
ownership and depositors have now
received IS per cent of their original
claims.
Railroads Earnings Jump.
The report of the Norfolk & West
ern Railway for II months ended
November 30. 1899 shows net income
of S27368,l42 after taxes and
charges, equal after dividends on
per cent preferred stock, to Sl886 a
share on LAOS .483 shares of COM
mon stock. This compares with net
income of $l7374,142, or S11.75
common share, in first II months of
1898.
Henry A. Johns, Washington man
ager CT Dodge Reports. in looking to
the future of the building industry,
says the outlook for 1910 points to
an average pickup of II per cent
in privately owned construction
throughout the 81 States east of
the Rocky Mountains At the same
time public construction is expected
to move ahead only per cent.
Present indications are that the
Washington metropolitan area will
participate in the advance.
Appraisers Push Plans.
Wilfred H. Blanz, president of
Washington Chapter Society of
Resident Appraisers, has drawn up
an elaborate program for the winter. |
announcing today that beginning on
January 9 meetings will be held
every month at the offices of
Thomas j. Owen Sons. open to ap-
praisers in the Capital, nearby
Maryland and Virginia.
The aim of the chapter is to bring
about uniform appraisal procedure |
which would be beneficial to lenders |
and borrowers alike in this territory. |
Mr.. Blanz said. An effort is being
made to interest real estate brokers |
and statesmen. as well as bank and |
trust company appraisers.
President Blanz plans a member
ship drive and has named Warren S.
Doan chairman of the Membership
Committee. Mr.. Doan is an execu-
tive of the Home Owners Loan
Corp.
Agency to Buy F. II. A. Loans.
Federal Loan Administrator Jesse
Jones announced that the R. F. C.
mortgage company will until further
notice buy F. H A. mortgages under
title l Of the F. H. A. Act. which
provides for the financing and cree
ton of new homes up to $4,000.
The mortgages, however, will be
bought only from the originato4s of
the loans who establish to the salts
faction of the R. F. C. sufficient
financial responsibility, including
the qualifications to service the
loans.
Financial District Comment.
Brown, Goodwin & Odds, invest
ment firm, entertained more than
100 business associates and friends
at its annual Christmas party at
the Columbia Country Club late
yesterday.
Robert c. Jones & Co., invest
ment firm, held its annual Christ
mas party in the Shoreham Office
Building late yesterday, more than
100 flnanciers and others enjoying
the hospitality of the season.
The National Savings e. Trust
Co. has several hundred Christmas
gifts piled up in the lobby for dis
tribution to the needy at the end of
the week. The bank employees made
a special drive for the presents, and
everybody in the bank contributed.
This years Christmas decora-
tons in the bank Hobbies are among
the best these institutions have
ever had. Each year sees innova-
tions that add to the general holi-