Evening star., 1940-07-16

April --------- 81 ,228,2 81 ,693, ,187
May --- 66,6lO,183 62,585 ,972
June ----- 70,976, ,568, 67,298, ,425
Total -----413, 1858 376, ,7sl ,s4s
Business Forecasting Hard.
In his monthly review, received
by the Washington Association. of
Credit Men, Henry H. Heimann, ma
-tional executive manager, says:
so much of our present business
Is linked with war and armament
programs that it is most difficult to
analyze what may be in store for
business during the course of the
balance OF the year. Should a peace
be concluded in Europe, which many
sclaim is not unlikely, some of our
Industries will feel the drop in war
,orders from abroad. The question
.then arises as to whether or not our
increasingly active preparedness pro-
sgram will be sufficient to continue
1.-THE present rate of activity. Even
Though it is sufficient, it is not the
type that insures a sound recovery.
Every one who faces the facts
knows that when peace is concluded,
world trade conditions will be as
fcompetitive as they have ever been
jStn the history of the world. These
sicondltlons, in turn, will be reflected
I'm our own domestic business. Like
most of the past decade, this is
period when business, despite the
necessity for self-protection, cannot
plan much beyond the morrow"
i Real Estate Bonds Decline.
For the month of June real estate
bond prices declined "a per cent,
which brings the average price per
$1,000 bond to s2Sl, according to the
latest Amott-Baker Realty Bond
Price Average. This decline follow
ing the 50 per cent drop of May
brings prices now to los per cent
below the 1899 closing prices. Only
Buffalo issues showed price i'm
.provement in June, by IL per cent.
Boston issues alone are higher to-
day than on December 81, 1899.
They now average $430, against $419
six months ago.
z Hotel issues showed an OF per
Aeent improvement in June, but all
other building classifications de-
.clined. Hotels are down Sc per cent
in the half year, apartment hotels
are off Ill per cent, housekeeping
apartments down So per cent. Office
buildings make the poorest showing
in 1940 with decline of 13 per cent
and theaters make the best with a
drop of only 38 per cent, the survey
says.
! OF the 200 issues. 49 improved in
price in the month, 64 remained un-
changed and 81 sought lower levels.
The review states that Washington
properties, Inc, Is made the best
gain among the 49 bonds showing
improvement. At the end of June
the bid of 40 showed a gain of 9
points. the review said. Mayflower
Hotel SIS were up points.
: Further Expansion Reported.
The North American Co. today an
bounced a further increase in it's
recently announced power prepared
ness program as reported to the
National Defense Advisory Commits
sion. This will add 81 900 900 to the
SYSTEMS $90,000,000 budget for new
utility facilities, arrangements hav-
ing been completed by the Wisconsin
Electric Power Co. to place orders
for equipment for additional capacity
Of 10000 kilowatts to be installed in
q plant near Milwaukee,
AS already announced, the COM
pany plans to add $4,000 kilowatt
generating facilities to the Potomac
Electric Power Co.'S plant at Buzz
yards Point in this CITY, The North
Americans proposed additions will
increase the systems present gen.
Grating capacity by 81 per cent, be-
lieved adequate to meet all possible
demands for several years.
Treasury Bonds Quickly Taken.
Secretary Morganthau announces
that the Treasury Offering of $780,
100000 2A per cent bonds was over
subscribed by more than $6,000,-
100000. Offerings amounted to S.
700,000,000 of which $37 900 900 rep
resented individuals subscriptions of
less than $1,000.
New life insurance written in
Washington in June scared l8 per
cent above June. 1899, the Life In
surance Sales Bureau at Hartford.
Conn, reported this noon. Sales in
the first half year in the District
were practically the same as last
year, the report added. Sales in the
whole country were up per cent
in June and off 3 per cent in the
six months, the review said.
Financial District Comment.
Charles H. Doing, vice president
of the Washington Loan & Trust
Co. and manager Of the West End
Branch, left here Saturday for his
annual vacation, which he will pass
at Cape May. Herbert w. Primm,
assistant real estate officer, is now
in Indiana on his vacation.
Robert v. Fleming, president and
chairman of the board of the Riggs
National Bank, is taking his vaca-
tion by weekend trips to Rehoboth
Beach, where he has fine summer
home.
G. j. Gockeler, assistant vice presi-
dent of the Hamilton National Bank,
will take his vacation in August, 60
ing as usual to his favorite resort,
Ventnor, near Atlantic City.
Today's Trading on Exchange.
Washington Gas Light preferred
figured In small sale on the Wash
ington Stock Exchange today at
1031s. Mergenthaler Linotype ap-
peared on the board, registering
four l0-share sales at IS. Bonds