Evening star., 1939-04-10
Washington Gas Light
Stock Leads Market
In First Quarter
Capital Traction Bonds
Head Thut Division,
Exchange Survey Shows
By EDWARD c. STONE.

Exchange Survey Shows
BY EDWARD c. STONE.
Capital Traction IS led trading in
the bond division of the Washington
Stock Exchange during the first
quarter of 1889 and Capital Transit
stock furnished the largest per share
turnover during the same period, ac-
cording to survey of exchange ac-
tivities made today. Washington Gas
Light preferred was the real market
leader.
There was a $4,000 turnover in
Traction bonds, the opening price
being "a and the price at the end of
the three months 8634. which also
was the high for the year At that
figure the bonds were yielding 720
per cent.
Washington Gas Light first IS
stood second in activity in the bond
department, s25, 900 turnover being
recorded. Highest priced bond issue
on the board, the 1889 opening price
was 1861. The bonds dropped to
125 and later made new 1899 high
mark at 127.
Washington Railway & Electric
consolidated As are far above par,
opening the year at 100 and selling
last Saturday at 1882. City g. SUBJ
urban Ry. first SIS sold recently at
86 and Anacostia & Potomac River
r. r. IS are now at about the same
level. They opened the year at 50
and the last sale was at IS.
Utility Stock Most Active.
In the stock division, Capital
Transit recorded turnover of about
$50 shares in the three months, mov-
ing from to 95s. In the past few
days the stock has reached another
new 1889 high mark at ga.
On account of its high price Wash
ington Gas Light preferred stock is
really the leading issue on the board.
More than $50 shares changed own
ership in the first quarter. Open
ing at 107, the stock has recently
been moving at 1852. Washington
Gas common figured in turnover of
263 shares and is now selling at 30.
American Telephone sold during
the period at $50. Washington Rail
way & Electric preferred moved re-
Gently at 1922. While there is bid
of $500 share for Railway COM
mon, no sales have taken place re-
Gently. Always in favor, Potomac
Electric Power per cent preferred
stock is now selling at lis, and the
51a per cent preferred around l14l2.
Bank Stocks Hold Well.
Bank stocks have made a good
record. National Capital stock
closed the quarter at 142, Liberty
National at 1T, Riggs National
common at 287. Riggs preferred at
1922. and National Bank of Wash
dngton at 1913.
The last sale in American Sc
curity & Trust Co. stock was at
257, National Savings & Trust end
ed the quarter with sale at 1913
and Washington Loan & Trust Co.
changed hands at 235. While 263
was bid for Bank of Commerce g.
Savings, no sales were registered
during the quarter, Bank of Beth
esda and Prince Georges Bank &
Trust Co. are also listed among the
bank issues.
The highest priced issue in the
miscellaneous list, which registered
sales in the first quarter, was Sc
curity Storage, at 1T. Mergen-
thaler Linotype closed the period
at 10 and Real Estate Mortgage &
Guaranty preferred moved up to
55s on completion of the reorgani-
Zation.
Bids for Lanston Monotype, Peo-
Piles Drug Stores, Woodward u
Lothrop and several other issues
were not high enough to cause any
sales. Most of these issues are
dividend payers and holders are
not anxious to sell, the survey dis
closing that the price situation was
more favorable than the volume
of business in the three months
under review.
Washington Trade Normal.
Washington was one of 30 trading
centers showing substantial business
improvement, per cent more, in
March over February, according to
the monthly survey of lat trading
areas of the United States conducted
by Brooke, Smith & French, Inc,
Detroit and New York.
Business in Washington as OF
April stood at normal, represent
ing a gain of 3 per cent over the
standing on March l. On April /,
1888, the city's business index stood
at 10 per cent below normal.
Washington showed one of the
greatest March gains of any city in
the list and was also named as one
of those closest to normal" Busi-
ness in the whole country in March
was rated at 81 per cent below
normal.
March Air Traffic Scars.
American Airlines, Inc. Washing
ton Office showed an increase of 500
per cent in March business, as COM
pared to February, and an increase
of 1879 per cent over March of 1888,
according to Herbert D. Ford, Dis
trict sales manager. Mr.. Ford at
tributed the rise in traffic to the
public's expanding use of air trans
portation, and to San Francisco
Fair travel.
DR.. Edward c. Acheson, graduate
of Williams College and the Lon
don School of Economics and Politi-
cal Sciences, will be the guest speak,
er at the dinner meeting of Auditors
Section of the District Bankers
Association, at the Wardman Park
Hotel Thursday evening. His sub
ject will be Money in Wonderland"
The meeting is expected to be one
Of the largest of the year.
New York Stock Exchange Offices