Evening star., 1940-03-04

gage recordings were as follows:
Number. Amount
Alabama -----.-- 1,140 1896 900
. District of Columbia 957 4,O54,O00
Florida ----- 2,279 100000
Georgia - 2,015 4,O2l 900
Maryland ---- 1,422 3,823,O 200
North Carolina -- 1886 4,197,0OO
South Carolina -- 1926 2O22,000
Virginia ----- 1858 4,673,OO0
The figures were based upon mort
cages of not more than $4,000 each
in value and exclude farm property.
Recordings were summarized for Mr..
La Rogue by the Federal Home Loan
Bank Board in Washington.
High Marks on Exchange.
Three new high marks were reg
istered during trading today on the
Washington Stock Exchange.
Capital Traction SIS, which recent
ly crossed 100 for the first time in
many years, sold at l003s today on
transfers of two 81 1000 bonds.
Anacostia e. Potomac R. r. SIS,
reached 1O3 today for the first time
in years. They closed last week at
1929.
Capital Transit stock opened with
q 25-share sale at 147s and closed
with a sale of three shares at 10,
the first time the price has touched
IS this year.
The Baltimore & Ohio Railroad
will offer at competitive bidding on
March at noon S4,75O,000 equip
ment trust certificates, carrying
2l2 per cent coupon and due in l
to 10 years.
Manufacturers Sales Soar.
Manufacturers sales during jan
uary 1910 increased 22l per cent
over January 1889 according to re-
ports received from 1853 manufac-
turers, it was announced today by
the Department of Commerce. This
is continuation of the substantial
gains in sales recorded for each
month of 1899 as compared with the
corresponding month of 1888.
The total net sales of the 1853
reporting manufacturers amounted
to S348 100000 during January 1910
as compared with a sales volume of
S2s5 100000 in January of last year
and s346, 100000 during December
1899.
The greatest relative improvement
was recorded by the iron and Steel
motor vehicle parts, rubber prod
ucts and machinery groups with
increases of 443 per cent, Ais per
cent. 38 per cent and 37.5 per cent,
respectively. The increases in the
remaining industry groups range
from 26.8 per cent for none-ferrous
metals to 26 per cent for stone, clay
and glass products.
Youth Insurance Minded.
Payments to policyholders of the
New England Mutual Life Insurance
CO. and their beneficiaries amounted
to S390OO000 during 1889, George
Willard Smith, president, announced
at the annual meeting.
Twenty-Five millions. or "a per
cent of all benefit payments, went
to living policyholders as matured
endowments, dividends, cash values
and annuities.
For the fifth consecutive year, Mr.
Smith reported, the company's
membership, as shown by insurance
in force, continued to exceed pre-
vious records. A total of Sl23 100000
of new insurance was purchased in
1889 under 80, ,466 policies.
According to Earle w. Sapp. New
England Mutuals general agent in
Washington the company now has
S13,487 900 of insurance in force on
the lives of residents of the District
of Columbia. He said that half of
the new life insurance taken out in
his company last year was purchased
by persons under 36-a notably
vigorous young membership.
Schnitman Forecasts Rise.
l.. Seth Schnitman, formerly chief
of the division. survey of current
business, Department of Commerce,
has just written a book. This War
and Your Pocketbook, Vanguard
Press, in which he takes a very
cheerful outlook for common stocks.
His predictions are based on his
views On imitation.
Regarding common stocks, Mr.
Schnitman says: I'VE are approach
ing the day when you may buy COM
mon stocks with greater relative
abandon than at any time in at least
20 years. This is more because of
external influences Of war and price
imitation than because of any truly
basic improvement in our economic
structure He looks for this market
improvement to get under way be-
fore mid-1940.
His views are very different from
those expressed by some Wall Street
brokers. who look for little market
action until after both political con-
ventions have been held.
Financial District Comment.
The -Waynesboro Bank &
Trust Co., Waynesboro, Va, has been
admitted to the Federal Reserve
System. Hugh Leach. president CT
the Federal Reserve Bank of Rich
mond, announced today.
Capital Traction SIS wound up last
week with another new high mark
when two $1,000 transfers were reg
istered at 100A, the highest price
reached in many years.
Based on operating results it is
estimated that Pennsylvania Rail
road for January will show net
income of around $1,700000 after
taxes and charges which would COM
pare with S1,103,446 in January,
1899, and represent the best show
ing of any January in years.
Net railway operating income in
January was not only the best for
any January since 1890. but has
been exceeded in only three jar
uarys since 1921-in 1926, 1928 and
1929.
TatVie has nlacp6 a l0c0n0-