Evening star., 1941-04-21
Investment Dealers
Study Securities
Act Amendments
Progress With S. E. c.
On Possible Changes
Engages Attention
BY EDWARD c. STONE.

today, the chief business being con-
sideration of the proposed revision
Of the various securities acts and a
report from the associations Special
Committee on progress made with
the Securities and Exchange Com
mission at a series of conferences on
this subject.
James Parker Nolan, of Folger,
Nolan & Co., attended the opening
session as chairman of District No
II, which includes the District of
Columbia, Maryland, Virginia, West
Virginia and North Carolina. B.
Howell Griswold, jr., of Baltimore,
one of the governors, was also
present.
The Securities and Exchange
Commission is expected to report
to Congress on the securities sit
uation shortly, possibly favoring
curities acts.
The governors will hear a re-
bort from the chairman of the Quo
tations Committee and another from
the chairman of the Technical Com
rnittee on work done in the past six
months.
Council Meetings Next Week.
Washington will send a delega-
ton of bankers to the spring meeting
of the Executive Council of the
American Bankers Association, at
the Homestead, Hot Springs, Va,
April 27-May l.
Bankers already planning to at
tend include Robert V. Fleming,
head of Riggs National and past
president of the A. B. A; Wilmer
j. Waller, vice president and
cashier of the Hamilton National,
who represents the District Bank
ers' Association on the council and
also is a member of the State and
Federal legislative councils of the
A. B. A., and George o. Vass, an
other Riggs National official, who
this year is a member of the A. B.
A. Public Relations Council
l Latest reports on business condi-
tons, banking trends, matters of
policy and banking forecasts will
make the program an unusually
busy one.
Transit Earnings Mount.
Reports reaching the financial
district indicate that passenger
traffic on Capital Transit lines, both
streetcar and bus, has recently in
creased very rapidly.
y Spreading the load morning and
evening by the new Government
hours has brought about a sharp
hpturn in the number of riders. 1t
was at first said that there would
be the same number of passengers,
no matter whether they went to
work at 7:30 or 9 o'clock. The oppo-
site has proved true.
: The Streetcars are now carrying
o great many additional people,
many more than the monthly in
crease in population. The March
financial statement is awaited with
wide interest, although April will
be the first month to reflect the full
increase in traffic.
Building Contracts Climb.
Construction contracts awarded
In the Washington metropolitan
area closed the first quarter with
Al per cent rise over the same period
of 1910. Residential building made
an individual gain over the 1910
counterpart and non-residential
building and engineering construc-
ton decreased, according to Henry
A. Johns. Washington manager of
Dodge Reports.
Awarded contracts for all types
of construction in the January
through-March period amounted to
$39,812000. The Al per cent rise
is over S27,08O000, the total for the
same period in 1910. Contracts for
March totaled $14,723 900 this year.
Last year they were at S8373000.
Residential building contracts for
the three month period moved to
$31, 900 in 159 per cent gain
over $12,012,000, the 1910 record.
The March valuation reached $12,-
O51 900, compared with $5,26O,0O0,
the March, 1910, total.
Non residential building con-
tracts awarded in the first quarter
were valued at S7,69O,OOO This to-
tai fell from S12 948,O 900, the three
month record for 194l; 81 1863, 900 was
recorded for contracts awarded in
March; $1,886,O 900 for March, 1910.
Industries Continue Uptrend.
An obvious conclusion to be drawn
from a survey of the net income of
corporations with common stocks
listed on the New York Stock EX-
change is that the industries which
showed the most pronounced i'm
provement in 1910 are continuing to
show a similar trend in 1941.
Aviation, farm machinery and
shipbuilding led the 90 groups
which comprise the industrial list
ings, says the Exchange Magazine,
and published reports so far this
year indicate that order books in
the fields remain heavily filled.
Corporate reports made public to
date, covering most of the COM
panies in the stock exchange list,
reveal an average increase of 16.7
per cent in net income during 1910
as compared with 1889.
TOday's Exchange Trading
In the first sales on the Washing
ton Stock Exchange this year, Lib
erty National Bank appeared in two
sales today at SITS per share. Forty
shares of Capital Transit stock
moved at 1914, unchanged, while
Columbia Title Insurance Co. came
out at IS and closed at 1424. Cap
ital Traction IS were strong, regis
tering a $1,000 transfer at los.
Washington brokerage houses go
into daylight saving time next Mon
day. Washington banks and build
ing and loan associations remain on
standard time but they have to
bear in mind that New York banks
open and close an hour earlier each
day.
The American Bankers Associa-
ton has prepared suggested adver-
tising layouts and copy for use in
connection with the sale of the De-
fense Savings Bonds, posters, win
dow display ideas and lobby displays
being included.