Evening star., 1940-07-07
DC. Exchange Volume
Far Ahead Of 1889
In Six Months
Sales Of High Grade
Bonds Nearly Double
Lost Year
BY EDWARD C. STONE.

Trading on the Washington Stock
Exchange in the first half of 1910
was far ahead of the 1899 period
both in stocks and bonds. Prices
Also made most satisfactory record,
a survey of the six months discloses.
The demand for high-grade bonds
on the exchange was well toward
double what it was year ago, total
dollar volume of trading reaching
S3l6,500. against only $172 900 in the
same 1889 months, gain of S144 500.
Capital Traction SIS led the market
with a volume totaling $246.50
Prices for the bonds ranged from
96a4 to l02. Most of the time they
were below par, but ended the half
year at 1904, to yield 499 per cent
Washington Gas Light first SIS
we're, next in investment demand.
registering turnover OF $26,5O0
Highest priced bonds on the ex-
change. they reached 1872 at one
time and ended June at 1851, Civ
Ing return of 3.22 per cent. Wash
ington Railway & Electric Con-
solidated As were popular, closing
June at 1912, the high for the year,
to yield 3.25 per cent.
Other Bonds Remain Strong.
Potomac Electric Power Alas were
very strong, selling at 1l0is at the
end Of the half year, yielding $50
per cent Anacostia & Potomac
River IS closed at 1918 and City &
Suburban r. r. SIS closed at par,
both these bonds being much in the
limelight because of the agreement
reached between certain bondholders
and the Capital Traction and WASH
ington Railway e. Electric Cos. re-
garding liability for the bonds at
maturity. Two other bonds on the
exchange were strong, Chevy Chase
Club Alas selling at 1o4's and Co.
lumbia Country Club AIS at l04.
In the stock division there was
turnover of l1.727 shares in COM
parison with $500 shares in the first
half of 1889. Naturally, prices varied
more widely than in bonds. The
largest turnover was in Capital
Transit, 2.521 shares changing
hands. The stock closed at IL.
against 1914 earlier in the year and
dispite the payment of a 25-cent
dividend on July l and steadily
mounting earnings.
Turnover in Mergenthaler Linotype
was nearest to Capital Transit, 2.038
shares. The stock closed the half
year at 14a4. against the years high
of II and a low of r. The stock
has recently displayed more strength
following a War Department report
of two more good-sized war orders.
Lanston Monotype closed the period
at % after opening 1910 at 321.. At
recent levels the stock yields TIA per
cent
Gas Common Stock Active.
Quotations at the end of the half
year on Potomac Electric Power 6
per cent preferred stood at 112, the
last sale of the 5l2 per cent preferred
was at 113, and Washington Gas
common, which registered turnover
of 1,172 shares, closed at "a. Gas
preferred ranged between 80 and
100 and closed at 103. In the six
months one sale of 100 shares Of
Washington Railway g. Electric COM
mon took place at $500 a share,
while w. R. & E. preferred sold
recently at 10814.
Bank stocks made an excellent
half-year record as group. Ma
tional Capital sold recently at 1922,
Liberty at ITO, Riggs common at
255, Riggs preferred at l02, Ameri-
can Security at 230, National Saw
ings at 20012. Washington Loan at
2471s and Bank of Bethesda at 30.
During the half year Garfinckel pre-
ferred stock was listed on the en-
change and sold at 26 to yield 5.26
per cent, the survey reveals.
Tribute to Prescott Galley.
President A. NJ. McLachlen of the
District Bankers Association yeSter-
day appointed the following men,
bers to represent the association at
the funeral of H. Prescott Galley
tomorrow afternoon at 2:30 at st.
Albans Episcopal Church:
Robert V. Fleming. president,
Riggs National; Corcoran Thorn,
president, American Security q
Trust Co.; Ord Preston, president,
Union Trust Co.; Bruce Baird, presi-
dent, National Savings & Trust Co.,
and Floyd E. Davis, president, Lin
coin National. Mr.. McLachlen will
also attend the services.
Deep regret was heard in the
financial district yesterday over the
passing of Mr.. Galley, who was
chairman of the board of the Ma
tional Savings & Trust Co. He was
president of the bank from 1884
until this year, period during
which the bank showed notable
progress. He was practicing law
yer much longer than a bank Of
ficial No flnancier ever had more
sympathy from host of friends
during q most trying illness.
Fifth District Trade Climbs.
The Federal Reserve Board an
nounced yesterday that department
store sales in the Federal Reserve
district, which includes Washington,
In the first 26 weeks of this year,
were per cent ahead of last year.
The national average was 4 per
cent.
The report shows that retail trade
In this territory is moving forward
steadily. The gain of IA per cent
for the four weeks ending June %
compares with 2 per cent advance
for the similar period ending on
June l and l per cent upturn
at the end of April.
The weekly report reveals the
same favorable comparisons, the
fifth district gain Of 9 per cent over
last year being exceeded only by
the Dallas district with 10 per
cent upswing. Cleveland tied this
trade area at 9 per cent, while
the average for the whole country
was S per cent, AS noted yester-
Il, wi Il