Evening star., 1941-05-26
D. {. Utility Bonds
Show Some Gains
Over Last Year
Few Marked Changes
In Stock Prices
On Exchange
By EDWARD C. STONE.

SUIlS ICNCdl. AlldIOSlld N IOlOIlioS
Railroad guaranteed 5S, 1949, last
sold at ia, against 103 year ago.
Capital Traction SIS, now selling at
1041a, moved at 1914 in May last
year.
Washington Railway & Electric
Is, however, are fractionally lower
than last year. They sold at 100 a
year ago, while the only sale this
year took place at 1895.
Georgetown Gas 5S have sold at
122 this year but did not appear
in the trading in the first four
months of 1910. Washington Gas
SIS, the highest-priced issue in the
list, opened 1941 at 131 but have
since moved at 1913. These bonds
were selling at 131 at this time
last year.
Anacostia & Potomac modified
go, recently listed, are very strong,
selling between lot and 108. City
& Suburban modified 324, also new
to the board, first sold at 1912 and
are carrying a bid of 107; offered
at 1O9. At present, Capital IS offer
the highest yield, 4.12 per cent, and
also are by far the most active OF
any bonds on the board.
Stocks Not Quite as High.
Some stocks on the Washington
board are not quite as high as at
this time year ago. Potomac Elec-
trio Power issues have hardly
moved, the 51a per cent preferred
selling at 114l2 and the 6 per cent
at 11515. They were practically the
same a year ago. Capital Transit,
above 16, is higher than in May,
1910.
Washington Railway & Electric
preferred, around 113, is not up to
last year. Washington Gas COM
mon, at 20A, has lost little ground
SO far this year, as has the pre-
ferred on recent sales at 1882.
Bank stocks have not changed
much from the prices of II months
ago. The last sale in Liberty Ma
tional was at IT'S, Riggs National
common, 276; American Security &
Trust, 2311a; National Savings &
Trust, 2O4, and Washington Loan
& Trust, 224. Other bank stocks on
the list have yet to record their
first 1941 sales. In the miscel-
famous list, some prices are better
than year ago, while other quota
tions are now as good.
Large Attendance Seen.
Aubrey o. Dooley, secretary of
the fiduciaries section OF the Dis
trict Bankers Association, today
predicted a very large attendance
at the final meeting of the year to-
morrow evening at the Washington
Golf and Country Club. Theodore
Cogswell, register of wills, will be
the guest speaker and annual re-
ports will be presented.
Washington bankers were COM
menting today on the steady sale
of Defense savings bonds and
stamps. While there is no rush at
the windows handling the bonds,
vet there is a constant daily demand
for them. Sales were lively on the
first two days of the sale. Then
they slowed up.
Buyers tell bankers that they are
buying the bonds on their merit as
an investment, more than for
patriotic reasons.
Viscose Issues Sell Rapidly.
Washington financial houses TAX
ing part in the offering today of
over 228 900 shares of American Wis.,
rose Corp. 5 per cent cumulative pre-
ferred stock at S10750 a share and
1.568.00O shares of common at $24
share, reported this noon that there
had been an excellent demand for
the stock in the Capital. Some
houses sold out their quotas by 10
o'clock and were trying to get more
stock from other underwriters.
The two offerings involved more
than S62.OO0,000, one of the largest
pieces of new financing in many
months. The corporation is the
largest producer of rayon in the
United States.
Washington investment dealers
said the reception accorded the Of
fering here indicated that there is
plenty of capital available for in
vestment In new issues. Other big
issues are due shortly.
B. e. o. April Net Declines.
Net railway operating income of
the Baltimore & Ohio R. R. in April
amounted to $1,296, ,101, against ST.
712,879 in April 1910, a decrease of
$416,779, it was announced today.
Railway operating revenues totaled
s14!748,374, a gain of S2,043 ,519, but
operating expenses called for $12,-
o04,932, an increase of S2,201, 1863 over
last year. Other deductions were
S258,a28 more than year ago.
The showing in the first four
months of this year, however, is
much better. Net railway operating
income amounted to $11,612,773
against S6,576,605 in the first four
months of 1910, an increase Of S.
036,168.
Operating revenues showed gain
of S11,815,3 1865 while expenses were up
s6,361, $40, the report stated.
Financial District Comment.
3. M. Edwards, Assistant Secre-
tary of the Treasury and president
of the South Carolina National
Bank, Charleston, will address the
New York State Bankers Asso-
citation at Buffalo tomorrow on the
best methods of banks participating
in the sale of Defense Savings
Bonds and Stamps.
Deputy Controller of the Cur
rency E. H. Cough, who will retire
on July 6, has been connected with
the office since 1910, or 81 years.
He will be succeeded by r. B. Nc
Candless, now supervising receiver
of the Insolvent Banks Division.
The IS per cent gain in depart
ment store sales in the Richmond
Reserve district in April was the
best advance of any of the IL dis
tricts. Philadelphia was second with
a "a per cent gain and Cleveland
third with a 80 per cent pickup, the
Reserve Board report shows.
The Atlantic Greyhound Corp.
hoe odoptad a contriblltOrV retire.