Evening star., 1939-10-09
Volume Improves
In Stock Tradinq
On D. {. Exchange
Washington Cos
Issues Register
More Activity
BY EDWARD C. STONE

BY EDWARD C. STONE
With prices holding firm on the
Washington Stock Exchange, the
volume of trading has registered i'm
provement in the last few sessions
A few issues, however, are near the
years low marks.
Washington Gas Light preferred
stock, which ended September at 80,
closed last week with a sale at 1922.
The gain of 3l2 points placed the
stock again above $l00 share where
it has been most of the time this
year, the high mark being 1O8ss.
Washington Gas Light common
has also displayed more life For a
time after the stock was distributed
to the public in substantial amounts,
the exchange recorded no sales.
Last Friday 25 shares moved at 27A
and the week ended with another
25-share lot changing ownership at
the same price. The weeks final bid
was 27l2 with % asked
Washington Railway g. Electric
preferred last appeared on the board
at 1094, fractionally above the low
for the year. Potomac Electric
Power per cent preferred at 1l34
and the 5l2 per cent preferred at 112
are near the years lows Capital
Transit stock, the most active issue
on the board in per share turnover,
is now selling at 12a4.
Sales in bank stocks have recently
been few and far between but prices
have held up we'll. The same may
be said of miscellaneous stocks on
the board. Carpet Corp. at 291a is
at the high for the year; Mer-
genthaler Linotype at 18 has turned
upward from the 1889 low mark;
Peoples Drug Common is at the best
mark of the year, with sales very
rare. In the bond division, business
has recently been quiet with only
slight changes in quotations.
Interest to Farmers Reduced.
The interest rate to farmers on all
Commodity Credit Corp. loans will
be reduced from per cent to per
cent per annum, effective November
!, 1899, Secretary of Agriculture
Henry A. Wallace announces.
The reduction in the interest rate
to farmers was based on an under
ference between representatives of
the American Bankers Association
and officials of the Commodity
Credit Corp it is stated.
The banks and lending agencies
which now are making Commodity
Credit Corp. loans will be guaran-
teed 2 per cent, and the Com
modify Credit Corp. will receive /
per cent.
Leaves Federal Service.
Fred S. CressWell, engineer for
the Public Works Administrat ton,
has resigned to accept a post as
promotion engineer for the Clay
Sewer Pipe Association, it was an
nounced today.
Educated at the University of Gin
cinnati. which granted him degree
in civil engineering in 1882, Mr..
CressWell Joined the P. W. A. staff
as engineer examiner in 1888, fol-
lowing post-university apprentice
ship as Junior engineer on the S40,-
100000 Union Terminal in Cincin-
natl
Mr.. CressWell will direct promo
ton work for the association he rep
resents in Virginia, West Virginia
and Maryland and in Washington,
where Munsey Building offices have
been opened.
North American Sets Record.
Electric output of the four groups
of subsidiaries of North American
Co during the three months to
September 80 was the highest for
any quarter in the companys his
tory, j. F. Fogarty, president of
North American, announces.
Preliminary figures on the COM
panys power output for the Sep
tember period show an increase of
1012 per cent over the like 1888
quarter and gain of IL per cent
over the previous record production
attained in the final quarter last
year. Output for each month and
quarter thus far in 1899 has exceed
ed the high levels obtaining in the
corresponding periods of 1887.
For the first nine months of
this year there was an increase of
11A per cent over the output for
the first nine months of 1888, and
for the twelve months ended Sep
tember 30, 1899; there was an in
crease of 914 per cent compared
with the twelve months ended Sep
tember 80, 1885," Mr.. Fogarty says.
Reports from the Potomac Electric
Power Co. so far this year show
that the Washington corporation
has been an active contributor to
the North Americans output.
Atwood Pleads for Thrift.
At the annual convention of the
Mortgage Bankers Association of
America, in Detroit, Albert w. At
wood, Washington writer, speaking
on the subject of The Mortgage
Banker in Troubled Times-Op-
portunities and Responsibilities,
said:
The first major casualty of this
war on American soil will no doubt
prove to be the theory that spending
and not saving is the real national
virture, and no monument need be
erected to its memory either.
For with the world going hay
wire around us We are certain to
have real, imperative financial
needs and unless we want to go
haywire too, we must meet these
needs through the prudent, trust
worthy method of saving, not
Through the perils of initiation"
Heard in Financial District.
The New York Stock Exchange
will be closed next Thursday, Co.
lumbus day, it was announced in the
brokerage Offices here today. The
Washington Stock Excha-Se also
will be closed. The banks will be
open as usual.
Wilmer j. Waller, who represented
the District Bankers Association at