Evening star., 1941-07-09
Bond Prices Strong.

April ------ Z, ,l45 .05b.OO $50 ,90t
May ------ 2.24l 10000 1,875124
June ------ 2,140.243.0O 1859 094
Bond Prices Strong.
Prices of bonds listed on the
Washington Stock Exchange made
a very fine showing in the first six
months of 1941, every issue selling
well above par and all paying divi-
dends.
The volume Of trading, however,
In the first six months of this year
was only about half of that of the
like period in 1910. The total sales
in the first half of 1910 amounted
to s3l6,500 while so far this year
the volume of trading has totaled
only S146,O00.
In the first half of 1910 trading
in Capital Traction SIS alone
amounted to s246,500, while trading
in this issue so far in 194l adds
up to only 100000 Most popular
issue in the list, however, the half
year ended with the bonds selling
at 1O3 to yield $50 per cent. On
MOIludN VI lllC pl CSCllU NCCh lilSoC
bonds moved at 10394. The years
high is 1864.
Next in volume of sales come Po-
tomac Electric Power 1st 3l4s, SELL
ing at 109. with sales totaling S25,-
900. The other issues have moved
In much smaller volumes. Anacos-
tia e. Potomac r. R. guaranteed IS
sold during the half year at ia, TO
WELD 3 per cent. Anacostia & Po-
tomac r. R. modified 314s COM
manded 107l2 on the last sale to
yield 280 per cent. City & Subur-
ban modified 3s4s sold at the same
price to yield PIT.
Washington Gas Light first SIS
remained the highest priced bonds
on the Exchange. with the last sale
at 1913 and 13l the high for the
year. The bonds yield 500 at pres
sent levels. Georgetown Gas Light
hrst SIS are very strong, selling at
122 and earlier in The year at l25.
They yield 345. Washington Rail-
way & Electric Consolidated As are
also far above par, last sale at 109,
with a return of 295 per cent.
Utility Net Earnings Compared.
According to statements filed with
the Public Utilities Commission, net
earnings of Washingtons utility
corporations In the first five months
of this yea were better than last
wear in two distances and not quite
up to 1910 in the other two.
The Capital Transit Co. enjoyed
the largest gain, s225,67l. Net in
come this year totaled $527, ,7l8.06
against 1902, ,O4612 year ago. While
expenses mounted, operating in
come moved upward due to a sharp
gain of more than 100000 IN
revenue passengers in the half year.
The Potomac Electric Power Co.
reported a net income for the FIVE
months amounting to $4,0l5, ,9sO.O7
against S4,153.52409 a year ago a
decline of more than $4,000. The
decrease was due TO larger expenses
and taxes. While not up to last
wear. net results of the five months
present very satisfactory figure.
The Chesapeake & Potomac Tele-
phone Co. told the Utilities Com
mission that net earnings in the
five months amounted to 1851 ,042
against 1922 767 year ago, small
increase of S28275. An increase in
operating expenses, including higher
taxes, prevented larger return.
The Washington Gas Light Co..
had an increase in operating reve-
nues which was offset by larger ex-
penses. Most of the difference was
due to the showing in May. Net
income totaled s1,060,372 against
Slot AGO, a modest decrease of SAT-
11s. Operating expenses in the five
months were s189,670 more than a
year ago, the report to the Commits
sion showed.
Bank Joins Federal Reserve.
The McLachlen Banking Corp. has
been admitted to membership in the
Federal Reserve System, 1t was an
nounced by the Federal Reserve
Bank of Richmond today.
Lanier P. McLachlen is president
of the bank and A. M. McLachlen,
another officer in the institution,
was president of the District Bankers
Association during the year ending
In June.
The bank, which has main Office
and one branch, has made marked
progress in recent years. On the
controllers call of June 80, deposits
totaled $7.169, ,720.75.
National Savings Dividend.
Directors of the National Savings
IL Trust Co. have declared a
dividend of ST per share on the
outstanding stock, payable August
] to stockholders of record on July
%. 1t was announced today by Vice
President David Bornet. This is
the same as other recent payments
which means that the bank is now
on a 81 yearly dividend basis.
Brown Joins Broker Firm.
Chester L. Brown of New York
has become connected with the
Washington Office of Merrill Lynch,
E. A. Pierce & Cassatt as manager
of the trading department. This is
a newly created position to cover
trading in corporation and munic-
ipal bonds, as well as over-the-
counter issues. In New York, Mr..
Brown had an investment business
of his own and was formerly con-
nected with L. F. Rothschild & Co.
Washington Gas Active.
Ninety-five shares of Washington
Gas common sold at 81 on the Wash
ington exchange today, up from
1875. Ten shares of Lanston Limo
type moved at 22ll2, up p, and Cap
ital Transit was strong at 16 on a
20-share sale. Garfinckel preferred
come out today, As shares moving
at u.
In the bond division Terminal
Refrigerating & Warehousing 4As
registered a $500 transfer at 101,
first sale this year. Capital Traction
SIS moved at 1895 and Anacostia &
Potomac modified 3s4s were strong
at 1071a.
Trading was the best in many
sessions, traders seemingly CATCH
Inc the Snirit IF tha NeU Y0rk IN.