Evening star., 1941-01-01

:B; :B;''s s,': '''9 s,ss: X:
Capital since Edw' C. stone
the bank holiday" Bank officials
report steady expansion IN loans
especially in the real estate field.
with prospects of many natloha4
defense loans in the near future.
Deposits closed the year at the high
est mark vet recorded. around SiOo,-
100000. compared with 4 total OF
s384.676 sos six months ago.
The wage-how law brought new
problems in bank management
which were met by changes IN hours.
Personnel changes due to the Army
draft called for some requirements.
However. accelerated lending, serV-
ice charges. growing demand for
personal loans. and other sources OF
income made it possible for several
banks to add extra dividends to
the regular disbursements. Despite
continued cheap money earnings
we're favorable Even Christmas
Savings Clubs paid their own way.
Loan Associations Boom.
Tie Capitals building and loan
associations likewise report a flne
wear A great number OF loans for
new homes were extended to resi-
dents. new accounts increased. and
asspts smashed all previous records,
passing the sl5O,OOO000 mark.
Investment firms bemOaned the
action of many biz national corpo-
rations in selling new bond issues
direct to insurance companies. vet
thev report a good demand for in
vestments in the year Just ended
and are looking for an increase
In new issues for public sale IN
1941.
Brokers in the local New York
Stock Exchange Offices we're dis
appointed in the years business vol
urne. In the past y months the
war has been the dominant influence
In market action, the industrial up
rush in this country being partially
overlooked In spite Of 1910 re-
suits there are more bulls than
bears among the fnanciers in Wash
ington's Wall Street when they talk
Of 194l.
ID. c. Trading Exceeds 1889.
Trading on the Washington Stock
Exchange in 1910 exceeded 1899 by
a generous margin. The number OF
shares OF ..a.E yNangiMg ownership
totaled 2O954. The dollar turnover
in bonds amounted to $500,500. In
the full 1eGr 1889 the stock turn
over totaIed 1874 shares and the
bond sales totaled S432 500.
The washington Exchange main
tanned its reputation as being
largely an investment market.
Prices were steady throughout the
wear and many issues closed 1910
at top quotations. Capital lrac-
ton IS proved the most active
bonds on the list, the turnover eX-
ceeding S37O.0OO, final sales taking
place around 106. Next in popu-
iaritv came Washington Gas Light
S. which ended the year above
100 highest priced issue in the
board.
Two important bonds returned TO
favcr when the liability issue was
settled, Anacostia & Potomac River
first SIS and City & Suburban 5s.
Both closed 1910 far above par,
GEORGETOWN Gas IS stood at the
years high mark Of 1913 and WASH
ington Railway e. Electric 4s regis
tered l07.
Public Utility stocks we're around
their best prices at the end OF the
wear. Bank stocks we're parucu-
Iarlv strong, Riggs National Bank
common being the most active issue,
closing 1910 around 273. Unlisted
securities in Washington found a
strong demand during the II
months. about so issues revealing
only moderate price changes.
CIearings Break Records.
Bank clearings in Washington in
December totaled $l39 9843 .554 81,
against Sll5.388 36011 in December,
1889. an increase Of S24 ass, 1914 so,
or a gain Of about III per cent.
Clearings in the city in the full
wear 1910 amounted to S1,4l4,332,-
884 20. in comparison with Sl,2o6,-
o88 O29.07 in 1889, a startling gain
Of s2O8.244655.13.
The years total was the highest
since 1929. when clearings reached
S1481. .39O.728.84. With the two eX-
ceptions of 1929 and 1928, clearingS
were the highest on record.
CIearings by months in l94O COM
pare as follows with the like months
in 1889: