Evening star., 1939-12-15
Capital Realty Bonds
Join Nationwide
Rise in Month
Amott, Baker Reports
Substantial Coins
In Other Cities
BY EDWARD C. STONE.

Washington real estate bonds
Joined in the higher prices registered
In other cities in November, accord
ing to the latest review by Amott.
Baker g. Co., just received from New
York.
The survey states that National
Press Building first 3-5s, 1850, ad-
vanced 112 points during the month;
Washington Properties, Inc, Gen
eral Is moved up IA points, and
Mayflower first SIS climbed full
point during the month. Hamilton
Realty Corp. IS and National Press
AIS held their own.
In November 200 Eastern real
estate issues, including the Wash
tngton issues made an average in
crease in price of 1.9 per cent, the
review says This increase follows
a gain of 16 per cent in October.
The average price of a $1,000 real
estate bond on the basis of the 200
issues in the computation is now
$316. This average stood at S3l0 in
October and $305 at the end of Sep
tember.
Boston issues lead the way with
an increase of 81 per cent to an
average price of s428 per ST 900 bond.
These Boston issues also lead for the
first II months. being ll2 per cent
over the $685. figure established on
December 81, 1938 During Novem-
ber New York issues rose % per cent
and Pittsburgh issues increased IA
per cent. Buffalo and Philadelphia
issues registered respective declines
OF 81 per cent and OF per cent.
Real estate bonds have been i'm
proving since August, the review
says. All divisions showed advances
in November. led by housekeeping
apartment issues. Then came office
building, theater properties and
hotel issues.
Aims of Dictators Analyzed.
Addressing record attendance of
110 members of the Auditors and
the Safe Deposit Sections of the
District Bankers Association, last
evening at the Lee House, the Rev.
DR.. John j. Cartwright, pastor of
the Immaculate Conception Church.
and recently abroad, discussed the
bearing of present conditions in
Europe on this country. His Sub
ject was the "Providential State"
in which sweeping promises are
made that everybody is going to be
provided by the state with just
about everything he desires.
The speaker discussed the totall-
tartan states, their promises being
differently worded but practically
the same in all the dictator coun-
tries. All the promises are to be
carried out by governments which
declare they can furnish something
better than now exists. Dr.. Cart
wright. however, declared the
promises to be so far reaching and
impractical that no man or group
of men in any government could
ever carry them out.
The menace in what dictator ma
tions offer lies in the fact that what
have been considered the best things
for the human race must be torn
down before the new order is estab-
lished This tearing down process
endangers all free peoples. In con-
clusion, the speaker declared that
all dictators oppose religion because
it is based on freedom of thought
and action, directly contrary to the
foundation on which tyrafnies are
built.
The chiefs of the two bank sec
tions. H. Norman Glasco and T.
Eugene Elgin, presided at the joint
meeting and the speaker was intro
duced by William Mailer.
Underwriters Hear Gesell.
District of Columbia Chapter,
Chartered Life Underwriters, held
their regular monthly supper meet
ing last night at the Cosmos Club
The membership heard very in
teresting and enlightening talk by
Gerhard A. Gesell, special counsel
for the Securities and Exchange
Commission in charge of the in
surance study. Also present as guests
OF the chapter were Daniel Bertrand
and James R. Bracket who are as
sociated with Mr.. Gesell in the in
surance study.
Variety Sales Impressive.
Variety store sales for November
were about per cent above the
dollar volume of November. 1888.
Total dollar volume for the first
II months of 1899 for an identical
group of stores was about per cent
larger than for the corresponding
period of 1888 but slightly lower
than in 1887, the Commerce Depart
ment states.
The upward movement reflects
the effect of recent expansion in
industrial payrolls and rising farm
income which directly affects the
purchasing power Of variety store
customers. Sales for the month
were higher than at any time since
December, 1887, and have been ex-
ceeded only twice previously since
December, 1929, namely in July,
1886, and July, 1887. The December,
1929, index figure of 11112 was the
highest in the 11-year period covered
by the series.
S. E. C. Allows Pepco Plea.
The application of the Potomac
Electric Power Co. for exemption
from the Holding Company Act for
the proposed issue for private sale of
$5000,0O0 2A per cent first mort
gage bonds. due in 1874, has been
granted by the Securities and Ex-
change Commission.
Of the proceeds from the $5,0O0,-
600 sale, the sum of $1,500,000 is to
be added to working capital and
to cover expenditures already made
on plant improvements. The re-
manning S3,500,000 is to be used for
additional expansion, the company
states. The issue is to be sold to
two large insurance companies.