Evening star., 1940-11-03

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Yesterdays report follows the
statement on October bank clear
ings in the Capital which showed
a total of s135 ,619, ,53327. highest
month this year and best November
in II years.
Election Action Short Lived.
A review of the stock averages
following the past 13 presidential
elections shows that the elimination
of uncertainty is moderately bull
ish influence on the course of stock
prices, according to Fenner & Beane,
members of the New York Stock
Exchange. Precedent indicates the
election should be a dominant fac
tor IN the course of stock prices for
only a short time, regardless of its
outcome, however.
In 9 elections out of 13 since
1888 stock bought the day be-
fore election could have been sold
within the next four days at a
profit. Regardless Of how important
the election seems at the time, its
influence is short, usually for not
more than few days or a week, the
review says.
Following the election of Nc
Kinley in 1896, which eliminated a
major uncertainty concerning the
Nations monetary policies. the stock
market advanced about 7 per cent
within a week 1t then went into
Joo1iroa u-bioI,
until the following April, according
TO the report.
Bankers Aid Draft Boards.
Washington bankers are cooper
ating to the fullest extent in Of
fering TO assist the young men
drawn for military service in max
ing out their Questionnaires for re-
turn to the draft boards. Certain
bankers are ready to 90 to draft
board headquarters and render this
help.
Hubert T. Bisselle, Riggs National
Bank, has been named chairman of
a special committee on cooperation
with the Draft Advisory Board, by
President A. M. McLachlen of the
District Bankers Association. The
other members are Stanley D. Willis
of the National Metropolitan Bank
and William B. Willard, National
Savings & Trust Co.
The banks have been asked by the
committee to designate certain mem
bers of their personnel who are will
ing to assist the young men called
into service.
Real Estate Bonds Advance.
For the fourth successive month.
the average price of real estate bonds
in Washington and other Eastern
cities increased in October, although
the improvement was only per
cent, according to the Amott Baker
Realty Bond Price Averages. The
average price is now $500 per 81 600
par amount, the report says.
The present price is as per cent
below the close of 1889, whereas on
June 80 the average was more than
10 per cent below the 1889 close.
Although the improvement was gen.
eral, hotel bonds made the best
showing.
Eighty-Six of the 200 issues in
cluded in the averages increased in
October.
Loan Official Felicitated.
George M. Emmerich, treasurer of
the Northern Liberty Building AsSo-
citation, was II years old yesterday
receiving many congratulations. Mr..
Emmerich helped organize the
building association in 1891 and has
seen it grown to an institution with
$4,000 900 in assets. Last Tuesday
Mr.. Emmerich was reelected a di-
rector of the District Building and
Loan League.
Business turned dull on the Wash
fngton Stock Exchange yesterday
after an unusually busy week. Tiny
sales took place in Potomac Electric
Power per cent preferred at ll51a,
in Potomac Electric Power 5l2 per
cent preferred at 115, and in Wash
ington Railway & Electric preferred
at 114Hs.
Capital Transit ended the week
with 15& bid and II asked: Mergen-
thaler, 2112 bid and % asked.
Heard in Financial District.
Harry G. Meem, president of the
Washington Loan & Trust Co., has
returned from vacation spent in
New York before the close of the
Worlds Fair, and at Atlantic City.
His late vacation was due to illness
In the family.
Governors of the Washington
Stock Exchange announced vester-
day that the exchange will be closed
Tuesday, election day. Banks and
building and loan associations in
Washington will be opened as usual
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