Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-11-08
ID Securities Reach
New High Marks,
Volume Expands
( *
Washington Cos Light
Shares Prominent
In Recent Climb
BY EDWARD C. STONE.

expanded the volume Of trading.
Washington Gas Light preferred
stock in selling at LOG has reached a
new high figure for many weeks.
Washington Gas common in trans
actions at &c is also in new ground.
Sale of American Security &
Trust Co. stock at 245 on the ex-
change yesterday disclosed a gain
of IA points from the last previous
transaction at 23l. Mergenthaler
Linotype, selling at 2424 today, at
tanned a price not known in 1910
or 1889, the high for 1889 being 81
+. Columbia Title, in a sale at Is,
stands at the same level as earlier
in the year. Peoples Drug Stores
common stock, in selling at 2l1a,
has moved to a new 1910 top. Capt.
tai Transit sold today at 17l4, an
other 1910 record.
The list might be extended. Ma
tional Capital Bank stock sold last
at IT'S, Liberty at ITO, Riggs Ma
tional common at 272, Riggs pre-
ferred at 1922, National Savings
g. Trust at 200, Washington Loan
& Trust at 228 and Bank of Bethes-
da at 80.
Much the same situation prevails
in the bond division, where every
issue on the list is far above par,
the survey reveals.
Exchange Offices Crowded.
Yesterdays wild New York Stock
Exchange session caused another
rush to the brokerage Offices here
today. In many Offices standing
room prevailed during the early
trading.
Market followers witnessed a very
fast opening, the tape being unable
to keep up with trading. Profit
taking slowed up some stocks, but
many new 1910 tops were seen in the
first half hour.
The bulliSh movement in stocks
was most discussed in the board
rooms, but the action of the COM
modify markets also aroused great
interest. The bond market was not
overlooked in gossip, or trading
brokers said. The increased volume
gave the offices an entirely new at
mosphere.
TrOth Stresses Insurance.
Paul Troth, Home Life Of New
York supervisor, gripped the atten-
ton of SO members of the District
Life Underwriters Association with
an address on life insurance. wildly
illustrated with cartoons, at the No
vember luncheon yesterday at the
Lee Sheraton Hotel. He was in
troduced by Vernon w Holleman,
Home Life general agent here.
Security isn't represented by great
wealth, Mr. Troth declared, but by
the certainty of a little to assure
lfe's necessities.
John D. Marsh, president of the
association and general agent of the
Lincoln National Life Insurance Co.,
presided, opening the meeting with
a pledge of loyalty to the Roosevelt
administration.
Among guests at the luncheon
were Bill Werber, third baseman Of
the World Champion Cincinnati
Reds, who is now in the insurance
business here, and Jack F. Crofoot,
new general agent of the Connect
cut Generals Washington office.
Wholesale Demand Varied.
Wholesale demand for electrical
goods led business in a dozen lead
ing lines in the fifth district in
September, over September 1889, the
Reserve Bank of Richmond reports.
Plumbing and heating equipment
came second with a Is per cent gain
over last year, while the demand for
drugs was up 4 per cent.
Automobile supplies sales we're
practically the same as last year,
paper products, tobacco and tobacco
products were in l per cent better
demand. The wholesale demand for
shoes was down Is per cent, dry
goods sales dropped 5 per cent and
81 wholesale grocery firms reported
a slump in sales of II per cent.
Miscellaneous sales by 45 different
firms were 6 per cent under Septem-
Der. 1899, and hardware sales were
down 2 per cent. The report con-
Guided with the announcement that
1893 firms in the fifth district aver
aged 2 per cent lighter sales than
a year ago.
Turning to retail trade, the Re-
serve bank reports that sales by
seven leading furniture stores in
Washington in September were 9
per cent heavier than last year and
in the first nine months of this year
were 10 per cent better than in 1899.
Forty stores in the whole district
did 4 per cent more business in Sep
TENDER and II per cent more in the
nine months than in the like 1889
periods.
October City Financing Jumps.
State and municipal financing for
October aggregated 65,354,436 as
compared with only S55 ,064,917 for
October, 1889. according to the
Daily Bond Buyer. The only month
this year when a higher figure was
recorded in February, when flnanc-
ing rose to Sl73,023773.
The revised total for September
was S74,661,54l and the total for the
IISJ ~ ulUlllIlS VI lIlC ECdI Noo
1887, 1863 ,537 as compared with $685.
879.108 for the first 10 months of
1899.
Holiday Closing Monday.
Next Monday, Armistice Day, all
the banks, building and loan associ-
atoms, investment houses and stock
exchange Offices in the Capital will
be closed. Many of the banks and
brokerage offices have already
posted the notices announcing the
holiday. Later in the month
Thanksgiving Day will provide an
other holiday.
The Planters Bank of Bridgewater,
BridgeWater, Va, has been admitted
to membership in the Federal Re-
serve System, Hugh Leach, president
of the Federal Reserve Bank of
Richmond, reported today. Recent
l. Ill L.. W.,