Evening star., 1939-05-02
Total Sales Volume
0nD DC. Exchange
Declines in March
Stock Turnover Drops
Below Previous Month
And Like 1888 Period
By EDWARD C. STONE.

Sales on the Washington Stock
Exchange in dollar volume in March
were slightly lower than in Feb
ruary and under March, 1898, the
Securities and Exchange Commis-
sion announced today.
The volume of all sales in March
this year totaled $58,018, against
$62,667 in February and $88,515 in
March year ago. Two years ago
In the same months sales totaled
$193,05S.
Stock sales during the month
carried a dollar value at $4O,-
$50 on a turnover of 925 shares,
compared with $46568 and a 1885,
share turnover in the previous
month. A year ago stock sales to-
tailed $76,624 and involved 1859
shares, while in March, 1887, sales
amounted to 131 ,496 shares and a
1,300-share turnover.
The value of bond sales on the
Washington Exchange in March was
$17,349, slightly ahead OF the Sl6,-
099 figure for February and the
y
Bond sales, however, were far under
1887 when sales ran up to $61 $50,
the report shows.
The dollar value of sales on all
registered securities exchanges in
March, 1889. amounted to $1,238,-
81,521, an increase of 58.5 per cent
over the value of sales in February
and an increase of 2l0 per cent
over March, 1885, Stock sales, in
cluding rights and warrants, had a
value of $1058,741, ,242. an increase
of 61.7 per cent over February. Bond
sales were valued at 9,440,055, an
increase of 41.6 per cent over Feo-
ruary.
Total sales of stock, including
rights and warrants. in March were
40,384 224 shares, an increase of
$50 per cent over Februarys total
Total principal amount of bonds
sold was S245 1923 $50, an increase Of
46.9 per cent over February.
First Quarter Sales Climb.
Dollar sales of 3,042 wholesalers.
try, increased 48 per cent in March
over the same month a year ago, it
was announced today by Director
William L. Austin, Bureau of the
Census. Sales of these wholesalers
during March-With three more cal
endar days-were up 1914 per cent
from February. March sales of the
reporting group amounted to $21O,-
$4,000.
Sales of 1920 firms for the first
quarter of 1889 show a gain of 4.9
per cent over the first three months
OF 1883. The first quarter sales of
these wholesalers totaled $506, 1893 900.
twenty-five Of the 80 lines of trade
recorded increases for the first quar-
ter of 1889 over the first quarter of
$685.
The ratio of collections on &C
counts receivable for 2,541 wholesal-
ers reporting this information was
slightly above March, 1885, March
is the fifth consecutive month during
which the collection rate exceeded
that of the corresponding month of
the previous year.
Moran New Bank Director,
James O'Donnel Moran WASH
ington lawyer who practices with
Seton Darr, president of the Dis
trict Bar Association has been elect
ed a director in the National Capt.
tai Bank, it was announced today.
Born in Washington in 1904, he
was graduated from st. Johns Col
lege, attended Catholic University
and was graduated from the George
town Law School in 1929, becoming
a member of the District bar at
once. He is member of the board
of directors of the Real Estate Title
Insurance Co. and a nephew Of
James ODonnell, for many years
heavy real estate holder and owner
of large number of drug stores in
the Capital.
Schick's Death Causes Shock.
Friends Of James P. Schick in the
financial district were greatly shocked
to hear of his death today. He was
president and general manager of
the National Mortgage & Invest
ment Corp, the Offices being To-
Gated in the Capital Garage Build
ing. He recently announced COM
pletion of reorganization of the COM
pany after much hard work by the
officers and directors and approval
by the stockholders. He said he felt
the company had now been placed
in fine position to move forward,
Mr.. Schick had been prominent
In church work and was president
of the Washington Y. M. c. A. at
the time of his death. He possessed
unusual musical talent as singer.
Even Chance in Stocks in May.
Probabilities of upturnS or down.
turns on the New York Stock EX-
change in May furnished a topic OF
conversation in many brokerage
houses here today. The tlckers
carried the results of an investiga-
ton by big brokerage firm cover
ing the past AZ years. In 81 of
those years the market advanced in
May and in the other 81 the quo
tations moved lower. The facts
brought out in the survey were far
more interesting than helpful in
determining the probable course OF
the market in the next four weeks.
President Hugh Leach of the Fed
eral Reserve Eank Of Richmond has
sent to all member banks a circular
governing the safekeeping of secu-
rites sent to the Richmond bank
and the Baltimore branch office.
The instructions cover the collec-
ton of coupons, collection of ma
turing securities, charges, insurance
and other important information.
Capital Transit Holds at Is.
Capital Transit stock held at Is
today on the Washington Stock Ex-
change, this price being the 1899 top
quotation. Trading was light, only
five shares changing hands. The
final bid was 145s with is asked.