Evening star., 1941-10-20
Volume Increases
On D. {. Exchange
With Prices Firm
Capital Transit Stock
Ard Traction Bonds
Lead in Activity
BY EDWARD c. STONE.

ONONh 14-NNAAclAIs,N 40 'A4C W MS a SOON
deal more activity, much larger lot
are figuring in the daily trading anc
prices are holding firm both il
stocks and bonds.
Trading in hundred-share lot!
has been frequent in the past few
sessions in Washington Gas Light
common, Mergenthaler Linotype
Firemen's Insurance. National Saw
ings q Trust. together with many
good-sized lots of Capital Transit
Lanston Monotype, Washington Gas
preferred and several other issues
Bonds are attracting more atten-
ton. activity having revived in Cap
ital Traction IS. now selling at l05;
Washington Gas Light 5S, which
registered 1882 on the last sale,
and WASHINGTON Railway s. Electric
Is which appeared on the board
the other day after long, quiet
spell. selling at the strong price OF
1851 The first sales since Amer
lean Telephone 8 per cent debentures
were listed caused wide comment.
The largest per share turnover
this wear has been III Capital Trans
il stock. more than 300 shares.
The most popular bonds have been
Capital Transit 5S, the volume in
this issue passing the Sl75000 mark.
Telephone Bonds Top Trading.
American Telephone & Telegraph
2 per cent convertible debentureS,
1856. were in strong demand on the
Washington Stock Exchange today,
following the first sales in this issue
last Saturday.
One $4,000 block was sold at 11178,
up :, from SATURDAYS sales and
the same price at which all today s
transfers were made.
A $4,000 sale was registered, also
two $1,000 transfers, a $500 and
three $1,000 sales. The market
closed with III bid and l12 asked.
b. Mergenthaler also was in good
demand again today Two 100
snare sales, together with ID and
5-share lots, were recorded at 26,
unchanged from last weeks close.
The final bid was 2534 with 26ig
asked.
Washington Gas Light common
again appeared on the board with
a 5-share sale at 10. off fractionally
from the last previous sale.
The revived interest in Mergen-
thaler Linotype is said to be due
to substantial Improvement in earn
ings. Standard &, Poor's Corp. re-
Gently forecast a stable common
Share profit for the year which
ended on September 30.
Title l Loans Increase.
The Federal Housing Administra-
ton reports that Title I property
improvement loans made in the Dis
trict of Columbia in the first half OF
the present year numbered 1,208 and
amounted to S555 1868.
Since the National Housing Act,
as amended. went into effect
through June of this year, 18,473
Title I loans have been made in
the District of Columbia amount
ing to S8,641.385.
Turning to financing under Title
II. the report states that gross mort
cages accepted for insurance in the
District of Columbia in the first
half of this year under the regu-
lar small-loan mortgage program
numbered 275. and amounted to ST.
432,350. In the first half of 1940
294 such mortgages were accepted
for insurance amounting to ST.
635, 700.
3 The report shows a steady in
crease in many sections Of the
country in the number of these
loans in the first half year. On
account of difficulty in obtaining
certain building materials and re-
strictions already applied, it is an
ticipated there will be a decided let
down during the remainder Of 1871
both here and all over the country.
Shift in Export Demand Noted.
The current Federal Reserve Bull
letin says that the extension Of war
fare has caused considerable shifts
in our exports of agricultural prod
ncts and lend-lease aid has resulted
in new kind Of export demand.
The new trend in exports is
marked by a shift from cotton and
tobacco which formerly accounted
for the bulk Of farm exports. to hog.
dairy, and poultry products and
some processed fruits and vege-
tables. and by a great increase in
the share taken by the United
Bank Loans Still Rising.
Commercial loans at member
banks continued to rise il the first
half Of October, refecJing in part
defense demands. the Federal Re
serve Board monthly review an
nounced today Increases were sub
stantial outside as we'll as in New
York.
Holdings Of U. S. obligations de-
creased, mainly at banks in lending
cities outside of New York. Excess
reserves showed little change in the
first half Of October.
Prices of lOng-term Treasury
partially taX-eXempt bonds increased
during the first half of October. the
review adds. The WELD on the 2ai
per cent bonds of 196O-65 reached a
new low Of POI per cent early this
month
Total building awards in Septem-
ber, as in August, We're 80 per cent
larger than in the corresponding
period last year, the survey states.
Loan Officers Meet Tomorrow.
The Semi-monthly meeting of the
Executive Council of the District
Building and Loan League will take
place tomorrow noon at the Raleigh
Hotel, starting at 1890.
Daily attendance in the New York
Stock Exchange boardrooms here
has increased steadily in recent Ses-
slonS. Some market commentators
believe the market has discounted
most all the present unfaVorable
factors and may have a better tone
in the near future. The loss of life
on the Kearney had no bearing on
market 0uOtatiOOS in early trading