Evening star., 1940-04-04
Trading on Capital
Exchange Above 1889
In First Quarter
Both Stock and Bond
Turnovers Register
Substantial Upturn
BY EDWARD C STONE.

1889, a survey dlSClOSeS.
Sales in the bond division totaled
$159,O00 in the first quarter of 1910
against only $4,000 in the 1899
period. Capital Traction SIS furnished
the leading trading feature in the
senior group, recording a turnover
OF $132 900 and advancing from 97s4
to 101A. Already in April these
bonds have sold still higher, reach
ing 10134 yesterday. At 1O1 fiat the
bonds yield 4.95, a return hard to
obtain in these times.
AnacoStla g. Potomac River r. r.
first IS also commanded a good deal
OF attention, opening 1910 at 1O1 and
moving up to 103, and yielding 4.45
per cent. City & Suburban IS re-
mained strong in very light trading,
selling at 1895 to yield 4.50.
Washington Gas Light first SIS,
1850 are the highest priced bonds
in the list, ending the first quarter
at 1913, to yield $40. The last sale in
Potomac Electric Power first 3l4s
was made at 109 and the final sale
IN Washington Railway & Electric
IS was also recorded at 109. Earlier
In the year they sold at 11O14, the
exchange record shows.
Stocks Also More Active.
In registering more activity than
a year ago, stock sales totaled Alas
shares in comparison with total of
3067 shares in the first three months
of 1899. The per share turnover in
the Public Utility group was led by
Capital Transit, sales reaching 1882
shares, the stock ending the period
at Is, after touching 15A.
Second in the interest has been
Washington Gas Light common
which changed hands to the extent
OF 59l shares, closing the quarter at
28l2. Among the blue chip stocks,
Washington Railway & Electric pre-
ferred was the most active on a
turnover of BAT shares, closing at
1l712, the high for the year, and
yielding 425 per cent
The Potomac Electric Power pre-
ferred stocks were also popular. the
E per cent stock closing March at
lisa and the 51a per cent issue at
ia. During the first quarter three
shares of Washington Railway g.
Electric common stock registered
sale at $500 a share Among the
bank stocks, Riggs National common
experienced the largest turnover,
43 shares, closing at 278
Utilities in Best Demand.
Mergenthaler Linotype was the
leading stock in the miscellaneous
list, GAL shares changing ownership
in the three months at 1412. So far
in April the stock has gained a full
point, selling at 1512.
National Mortgage & Investment
preferred stood second in trading
volume, 500 shares, last sale at 4.
Third on the activity list was Real
Estate Mortgage g. Guaranty prefer
red, which closed the quarter at 5s4.
In the three months, utility stock
sales totaled 2,740 shares, against
2,289 year ago; bank stocks totaled
80 shares against 176 shares last
year and miscellaneous transfers in
volved 1877 shares, compared with
602 in 1899.
Trading in the second quarter has
started off well, Washington ex-
change prices having been strong
with a better than average demand.
Quarterly Dividend Declared.
Directors OF the Washington Loan
& Trust Co. have declared a quar-
terly dividend of 2 per cent, Presi-
dent Harry G. Meem announced to-
day, payable on May l to stock
holders of record April %. This is
the second dividend this year, the
first being paid on February /, with
an extra dividend at that time of 2
per cent.
1t was learned in the financial
district today that Robert N. Harper,
for many years president of the old
District National Bank, founder of
other banks, and formerly very
active in civic and political affairs,
is seriously i'll at Emergency Hos
pltal. For three decades, or more,
Col. Harper, as he is best known to
his friends, was one of the leading
flnanciers in the Capital. He has
AAiAS SoGoCC az va.
-Four members of the WASHINGTON
agency OF the Connecticut Mutual
Lille Insurance Co. have been spe-
cially honored by the company's
head office for their marked success
IN life underwriting, General Agent
John L. McElfresh announced today.
They are Francis M. Brotherhood,
H. Richard Fredenburgh, Walter A.
Miller and Edward H. Van Deck.
Chicago Offices Moved Here.
Headquarters of the Mutual Ma
rlne Conference.-The organization
having jurisdiction over rates, forms
and practices of the major mutual
fire insurance companies active in
the inland marine field-are being
transferred this week from Chicago
to Washington, according to an
announcement made today by the
American Mutual Alliance. The
Offices here, located at 1920 Shore
ham Building, will be in charge of
William H. Rodda, insurance engi-
neer, who has been named the con-
ference's new secretary. He sue
ceeds Ambrose B. Kelly.
Mr.. Rodda has been named mana
ger of the newly formed Mutual
Cargo Pool, syndicate of 10 mutual
fire insurance companies which will
insure motor truck cargoes for long
haul truckers, with Offices in Wash
tngton.
Financial District Comment.
Seventeen New York bank stocks
which averaged 51.20 on March l
dropped to an average of 50.67 at
the end of the month, Holt, Rose &
Troster report.
The Bell System reports gain of
260,200 telephones in the first quar-
ter of 1910, compared with pickup
of 2l5,200 for the same period in
1889, the 16,795, 300 phones in service
making new high record.
The National Association of Pur-
chasing Agents holds its 25th an
nual international convention at