Evening star., 1941-04-23
0ver-the-Counfer
Securities Make
Good Showing
Unusually Satisfactory
Volume in Certain
Issues Reported
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Washington securities sold over
the counter have held relatively
stable in the first four months of
this year, making a better show
ing than prices in many of the
big markets outside of the Capital,
a survey made today discloses. The
volume of trading in certain issues
is said to have been unusually sat-
isfactory so far in 1941
IN the bond division, Washing
ton Properties Is have held to an
upward trend and been in excel
lent demand. The bonds are now
quoted at 6112 bid and 66l2 asked
Early in the year they were around
So but most of the recent sales have
been made between go and IS.
Mayf1ower Hotel issues have also
done we'll. Mayf1ower Hotel 5s, with
stock rights, are now quoted at
9812 bid and 10312 asked The other
Mayflower issue stands at 80 bid and
IS asked Shoreham Hotel As have
been working higher, 95 being bid,
with none offered
Investment dealers state that the
action of the different hotel bonds
indicates that investors do not fear
the coming of the Statler Hotel to
Washington. The opinion prevails
among investors that there is room
for another big hotel in the Capital
First announcement regarding the
new hotel caused a good deal of
speculation as to what this might
mean to hotels already in opera
ton here. So far. the quotations
seem to have paid no attention
to future competition.
Stocks Also Doing Well.
Unlisted stocks are also doing |
well. In the first four months of |
l941 bank stocks have held their
own and in some instances worked
higher. National Metropolitan is
the highest priced bank stock in
the list right now, 283 bid and 300
asked. The bid for Columbia Ma
tional is 1875, for AnacoStia Bank
100, and Security Savings & Com
n1ercial 165.
Other unlisted stocks above par
include Fidelity Storage at lis bid
Griffith th-Consumers preferred at 104,
and Washington Sanitary Housing
Corp, at ITO. Two other high-priced
issues are Lincoln Hall Association
at 80 and Washington Convention
Hall preferred at 88l2. Many other
lower priced issues have scored mod
crate advances since the first of the
year.
Washington Railway & Electric
participating units have worked
lower since their recent distribution
as dividend to North American Co.
stockholders. They were received by
investors all over the country, many
being turned quickly into cash, the
sudden increase in offerings forcing
the price down to 1474 bid and 1854
asked. They sold around 20 earlier
In the year. At present prices the
units yield better than 6 per cent.
Company Adds Vice President.
Directors of the Mutual Fire In
gurance Co. of the District of Co.
lunibia have reelected Charles Kat
telmann, president; L. Pierce Bote-
Ter, secretary; Henry E. Bittinger,
treasurer; William Reed Macgill, as
sistant secretary, and created a new
Office of vice president, electing
thereto Charles M. Boteler, who is
serving his 10th year as a director. |
Mr.. Kattlemann and Mr.. Bittinger |
have served in their respective Of
fees for 10 years, while L. Pierce
Boteler and William Reed Macgill |
have been connected with this COM
pany As and AZ years, respectively.
The company is now in its 9th
year. Other directors are Charles F.
Crane, Robert E. Buckley and w. A.
II. Church.
c. & o. Earnings Higher.
Net earnings of the Chesapeake &
Ohio Railway in the first quarter
amounted to S1.06 per share on the
common stock, against 81 cents per
share in the first three months of
1910
Norfolk & Western Railroad earned
1914 a share on the common
stock in the first quarter, compared
with $5.31 per share in the like |
period year ago, it was announced |
today.
Sales of general merchandise in |
small towns and rural areas in the |
first quarter of this year were 10 per |
cent larger than for the correspond |
ing period last year, the Commerce
Department reports. Variety store |
sales in the first quarter were also |
10 per cent larger than in the same |
quarter last year.
Huge Equipment Orders Noted.
Purchases of railway equipment
for domestic service in March, as
reported in Railway Age, totaled 119
locomotives, 1855 freight cars and
100 passenger train cars. OF the
locomotives ordered, 56 were steam,
81 Diesel-electric and l electric The
railroads purchased 103 locomotives
Of this total, comprising Sc steam,
as Diesel-electric and one electric, |
and the United States War and Navy
Departments the remaining 16
Diesel-electric units.
The 119 locomotives purchased
greatly exceeds the number ordered
in that month in any year since 1929. |
Investment Dealers to Meet.
Several Washington investment
dealers will attend the meeting of
the Board of Governors of the In
vestment Bankers Association at
White Sulphur May 10-14. Private
sales, competitive bidding and pro-
posed changes in the Securities Act,
together with committee reports,
will give the delegates plenty to talk
about.
Rutherford J. Dooley, vice presi-
dent of the National Bank of Wash
ington, said today that the check
master plan has been in operation
in the bank just one year. He stated
that hundreds of new accounts had
been opened and that the plan had
more than met expectations. 1t is
kept separate from other checking
account facilities.
The Washington Stock Exchange
is one of 18 regional exchanges which