Evening star., 1939-01-23
District Real Estate
Issues Most Active
In Counter Trading
Bank Stocks Stand
Next in Demand,
Dealers Here Say
BY EDWARD C. STONE.


light during 1888, although Capital
bank stocks Wed for honors, accord
ing to survey made among leading
investment dealers So far in jan
uary activity in these securities has
also been extensive.
Washington Properties income Is,
which probably were the most active,
closed IL points higher for the r.
month period, having opened at As
and closed around 81. The high for
the year was 60. Interest in this
issue centered around the proposed
purchase of one of the company's
properties by the Federal Govern
ment.
Washington Auditorium first IS
and Mayflower first IS also advanced
about 10 points. The former closed
at IS bid, while the Mayflower issue
registered "a bid at the year end.
National Press Building first mort
Sage 3-5s were very active and the
market for these bonds was remark
ABLY stable in the 70s throughout
the year. Probably one of the best
performers of the real estate bond
issues was Hamilton Realty first S.,
which advanced steadily during the
year to the present price around 100.
Stocks Score Notable Gains.
In the stock division Washington
Properties voting trust certificates
advanced from l bid to bid for the
widest percentage gain. National
Mortgage & Investment preferred
improved considerably, the bid at
the close of the year being 21s, as
against 1S at the beginning of the
year. Considerable activity was re-
ported in this issue during the year
due to the companys plan for re-
vision Of its capital structure. Ad-
vances were also recorded in Ameri-
can Co. preferred, from 80 bid to 40
bid, and in Washington Sanitary
Improvement from Is bid to 10 bid.
Consolidated Title Corp. preferred
was very active but stable through
out the year with very little change
IN price.
Among the bank stocks the most
active was Hamilton National
Prices. however. kept within the
creased activity was noted in Ma
tional Metropolitan and Union
Trust. National Metropolitan closed
is points higher at a bid of 240
and Union Trust was points better
than the bid on January l., 1888.
Other Bids Moved Upward.
Substantial advances took place
In nf iv,
miscellaneous division also. Barber
& Ross preferred moved from Z bid
to 13 bid, Griffith Consumers COM
mon from 40 to Al bid and Wash
ington Baseball Club from IS to 40
bid at the close of the year.
The increased demand for in
come producing. tax-free local is
sues was reflected in better mar
ket for them than has existed for
many years and Washington brokers
found no dif1lculty in finding buyers
for offerings that came into the
market.
Christmas Savings Fall OFF.
There was slight decrease in
the number of subscribers and the
amounts subscribed for the 1899
Christmas Savings Clubs operated
by Washington banks, the District
Bankers Association reported today.
The number of subscribers in the
various banks totaled 1928, a de-
crease of 23 per cent from the men,
bership in the 1888 clubs. The
amount subscribed for the 1899
clubs was $6,713,135, decrease from
last year of AZ per cent.
In the 1888 clubs the number
Of members stood at 31,053 and
the amount was $7500,205. The
banks made no special efforts to
advertise the 1899 clubs and no
interest is paid on these accounts.
Some banks will charge the cost
of operation to members who do not
complete the full years payments.
One bank, which will charge men,
bers so cents each in such cases,
had more new accounts than a year
ago.
December Insurance Jumps.
Sales of life insurance in WASH
ington in December were 38 per
cent above the same month last
year. the Life Insurance Research
Bureau, Hartford, reported today
New business totaled $9,055,000
The record for the full year 1898,
however, was not so good, sales
being of Is per cent from 1887 The
years total stood at $62 ,978, 900 for
the District of Columbia, business
in the last quarter turning sharply
upward.
Life insurance policies written in
the whole United States in 1885
totaled $6.358 ,006,00O, within 13 pei
cent of the 1887 mark, the report
said.
Heard in Financial District.
Capital Traction SIS sold at IS
unchanged, on the Washington
Stock Exchange today. and Potomac
Electric Power 5l2 per cent pre-.
ferred stock was strong, at 116, or
very small turnover.
After Saturdays break in the New
York stock market, local board
rooms we're we'll filled today for thu
opening. The market opened lower
Members of the Social Securit,
Board will have a dinner at the Hay
Adams House tomorrow night, ane
members of the United State
Chamber Of Commerce are to lunch
there on Wednesday.
Bank School Opens Tonight.
Opening of the second semeste
OF Washington Chapter, American
Institute of Banking, tonight, viii
find more than 200 students regis
tered and a variety of subjects of
fered, William H. Laughlin, educa
tional chairman, said today.
Law l will be instructed b.
Boitha j. Laws, associate justic
of the District Court of the Unite'
States for the District of Columbia
Economics / will be in charge o
Norman E. Towson, assistant treas
urer, Washington Loan & Trust CO
Hradife uyi11 hc rond,1rfaS h.