Evening star., 1940-07-09

ndL1 OF 1889 dd-
o. H. La ROGUE vances of So
762,700 we're made to member in
stitutions.
\ Repayments during the first halt
OF this year were 1905 ,247, like
wise a new high, said Mr.. La ROGUE.
He attributed the excess of repay
mentS, which reduced the net bal
ance of outstanding advances to
S17,010,237, as compared with $19,-
819,667 at the beginning of the year,
to the steadily increasing flow of
savings funds into savings and loan
associations in Maryland, Virginia,
North Carolina, South Carolina
Georgia, Florida, Alabama and the
District of Columbia.
Since the Federal Home Loan
Bank of WinSton-Salem opened for
business on october Is, 1882, it has
extended credits of $85 ,679,228 to
member savings and loan associa-
tlons in the District, said Mr.. La
Rogue, currently accounting for a
larger proportion of the home mort
cages being recorded than any other
type of lender.
Mr.. La Rogue said that Alb loan
associations and insurance COM
panles in the Southeastern States
comprise the membership of the
Federal Home Loan Bank System in
the fourth district.
Miscellaneous Stocks Lower.
Several miscellaneous stocks listed
on the Washington Stock Exchange
worked lower during the first half
OF 1910 from quotations at the
years opening. The lower quota
tlons make the yields exceptionally
high in some instances.
Ianston Monotype ended the halt
year at % after selling at one time
at 32l4. Mergenthaler Linotype was
one OF the most active stocks in the
group, closing the period at 147s,
against earlier sales at II. Lincoln
Service common opened 1910 at 20
and recently sold at Is.
National Mortgage & Investment
preferred registered the largest
share turnover, 1880, touching AZ
and closing at 33.. Peoples Drug
stores common opened 1910 at 15A
but climbed to about 19 in the half
year and has since crossed 18. Sc
curity Storage ended June at 80.
considerably lower than it opened
the year.
Terminal Refrigerating g. Ware
housing Corp. sold the other day
at "a against sales early in the year
at 58 Woodward & Lothrop COM
mon moved at the one price of 4915
and the preferred sold at 116 At
present the highest yield is on Ma
t-onal Mortgage & Investment pre-
ferred 9.04 per cent, followed by
Real Estate Mortgage & Guaranty
preferred, yielding $50 per cent, and
Lanston Monotype, returning TIA
per cent.
Woodward & Lothrop preferred
yields 5.93 and Julius Garflnckel
preferred 5.76 per cent. The former
is the only stock in the group that
pays ST dividend
Regular Dividends Declared.
Directors of the Riggs National
Bank have declared the regular
quarterly dividends Of 50 per share
on the common stock. 50 payable
July Is to stockholders of record
July 8 and So payable on October Is
to shareholders of record Septem-
Der 80. President Robert V. Fleming
announced today. The regular divi-
dend on the preferred stock was also
declared. Mr.. Fleming said, payable
August l to stockholders of record
July s.
Washington investment dealers
are among the firms underwriting
the new Cleveland Electric Illumi-
mating Co. S50000,00O first mortgage
B per cent bond issue now in registry
at the Securities and Exchange
Commission. Other firms with Wash
1ngton offices also appear in the
long list.
Financial District Gossip.
Frank M. Perley, trust investment
offcer, American Security g. Trust
Co, is recovering steadily from
serious fall on the wet deck of
yacht at Annapolis recently. He re-
ceived bad leg injury when he
jumped from one boat to another.
Julius E. Lob. vice president of
the Second National Bank, is among
Capital bankers now on vacations.
Willard G. McGraw. assistant
trust officer of the Union Trust Co..
IS on his vacation following his two
weeks at the Graduate School of
Banking at Rutgers.
James A. Bruen has returned to
the office of w. B. Hibbs g. Co. after
vacation in Florida. and j. Earle
McGeary, connected with the same
firme, is taking his leave.
Financing Lowest in 20 Years.
State and municipal financing
Tor June aggregated only $50, 1877
318 as compared with S206, ,422, ,060
for June, 1889, according to the
Daily Bond Buyer This is the
smallest total during the past 10
years.
The total for the first six months
OF the year was $495 ,720,370 as COM
pared with $500, 1862, ,739 for the first
six months of 1899.
oi2CASo4 OllCC1 UllC III
eign situation, hot weather, the
summer lull or perhaps a lack of
orders caused extremely light trad
ing on the Washington Stock Ex-
change today. Business was limited
to the sale of 10 shares of Potomac
Electric Power per cent preferred
stock at lis, unchanged from last
previous sale.
Bids for other stocks and bonds
remained firm and practically un-
changed. Riggs National Bank
common and preferred stocks were
quoted ex dividend.
In looking at the outlook for
stocks in the last half year, United
Business Service, Boston, says there
are both strong bullish and strong
bearish factors. Much of the wal
aHvnrsity hos already heen dis.