Evening star., 1939-10-14
Trading Broadens
On D. {. Exchange
During Week
Greater Variety Noted
In Number of Issues
Appearing on Board
By EDWARD C. STONE.


Trading on the Washington Stock
Exchange during the last week has
included sales in more different
stocks than in several weeks. ex-
change members commented today.
Total sales. however, still lag be-
hind the corresponding period
year ago.
Recent sessions have witnessed
trading in Potomac Electric Power
5la per cent preferred around I'LL u
and in the Potomac per cent pre-
ferred at 112, sales being very light.
Capital Transit, one of the issues
most frequently appearing on the
board, came out at 1234 on the last
sale.
Washington Gas Light preferred,
one of the most active issues on
the board earlier in the year, has
been bit more lively lately, chang
ing hands around 103 and better.
The last sale in Washington Gas
common was at 27l4.
Both type stocks have appeared
on the board during the last week.
Mergenthaler Linotype came out
at 18 and Lanston Monotype stock
registered 4014. One of the largest
sales of the week was noted in
Washington Railway g. Electric
preferred. which moved at 110la.
Another stock that does not appear
in the days sales often was National
Union Insurance Co.
Bonds continue to be neglected,
of hi irl,
at which they are held by investors.
During the week, however, Wash
ington Gas Light SIS registered four
$4,000 transfers in one session, all
at 120l4. With the exception of
Georgetown Gas Light SIS. these are
the highest priced bonds on the
Washington exchange.
Congressional Change Asked.
The Morris Plan Bankers Associa-
ton. in session at Rye, N. Y, went
on record as recommending to Con-
gress that the Clayton Act, which
prohibits the director of Federal
Reserve member bank from serving
on any other bank board, be
amended to permit such director
to serve on tfe board of at least one
other bank.
Bronze plaques were awarded to
the Morris Plan Bank of Knoxville
and the Morris Plan Bank of Rhode
Island, at Providence. in recognition
of best advertising promotion" for
the past year.
Following reelection of Harry E.
Small of Cleveland as president of
the association for another year,
Richard H. Stout OF Washington was
again appointed executive vice
president Of the association and
Robert R. Spooner and Calvin C.
Vane were renamed assistant Sec
retaries.
In addition to Willard G.. Barker,
president of the Morris Plan Bank
of Washington, ElWood G. Childers,
assistant vice president, also at
tended the convention.
Collection Ratios Improve.
Reviewing August collections in
department stores, the Commerce
Department reports that open
account collection ratios were above
August, 1898, in 9 of the II Federal
Reserve districts, declines being
noted in New York and Atlanta with
no change reported from the San
Francisco district.
On installment accounts the COL
lection ratio increased from 16
per cent in July, 1889, to 1853 per
cent in August, indicating gain
in the rate of collections on these
accounts of 5 per cent, or slightly
less than the increase of 81 per cent
from Jul yto August, 1888.
Installment account collection
ratios in August, 1899, we're above
the August 1888, ratios in 9 of
IL Federal reserve districts, de-
cline being noted only in New
York and no change indicated in
the Minneapolis and Kansas City
districts.
Commodity Market Forecast.
In a survey of the commodity
market situation, distributed in the
financial district by Fenner &
Beane, these conclusions are reach
ed:
Future developments in all COM
modify markets are largely depend
ent on further European develop
ments. Should there be further
peace discussions, officially or un-
officially highly erratic markets can
be anticipated with fluctuations
commensurate with the interpre-
tation of developments from day to
day But, should the war become
more active, markets generally
should readily reflect that fact.
Normal price making factors during
these perplexing times may be
relegated to secondary considera-
tion. A dual attitude of caution is
likely to prevail, first, not to over
buy and secondly, not to overlook
that war is destructive, armies must
be fed and supplied and inventories
must not be permitted to fall to
the low levels prevailing prior to
the outbreak of the war"
Loan Students Resume Work.
Washington chapter. American
Savings and Loan Institute. will re-
sumo its study classes with the
opening of the fall semester at
7:30 pm. October II. Glasses will be
conducted at ITO Thirteenth street
NV. and Carl H. Ellington, execu-
tive vice president, First Federal
Savings e. Loan Association, will
act as instructor.
Officers of the chapter for the
coming year are Richmond Gibson,
president; c. E. Kline, first vice
president; Joseph F. zegowirz, sec
ond vice president; William E. Bolls,
treasurer: Mary E. Cavis secretary.
The board includes Robert E. Buck
ley, Carl H. Ellingson, F. Wilson
Camp, R. L. Houston Jones, William
N Payne and c. E. Kefauver.
According to an announcement
from Chicago headquarters. Ester
S. Devers of the National Perma-
nent Association has been appointed
governor for the District of Co.
lumbia