Evening star., 1941-02-25
Stability Displayed
By y0ver-the- e-Counter
Market Here
Home Issues Remain
Steady in Face of
Losses Elsewhere
Bv EDWARD C. STONE.

New York and otner and important
exchanges. Investment dealers COM
mented today in the financial dis
trict on the manner in which these
home issues" have held their price
levels in the first two months of
194l.
1t so happens, dealers said today,
that whenever prices of leading
issues on the big boards move
downard, the demand for Washing
ton issues moves upward. And the
increased interest in over-the-
counter securities naturally holds
up prices
Amcng the unlisted bonds, the
bid for Barber & Ross as now stands
at 94l4. Consolidated Title Corp.
IS carry a bid of 100 highest priced
issue on the list. There has re-
Gently been a strong demand for
National Press Building Adjust
ment As quoted at 27l2 BID and 301a
asked National Press Building
first 3-5s are quoted at 84l2, with
89iq. asked Some of these bonds
have recently been taken up and
this action has been helpful to the
lower priced issue
Washington Properties Gen Is
have continued to hold interest,
being quoted at go bid and 65 asked
Washington Auditorium 6s are
wanted at 7414. Shoreham Hotel As
have moved up to 90 bid, while
Mayf1ower Hotel SIS now stand at
90 bid with 95 asked Racquet
Club IS carry a bid of At.
Stock Prices Also Firm.
The same SteadineSs prevails
among stocks. Bank stocks have
hardly changed at all in the past
month. Anacostia Bank shares are
quoted at 100 bid: City Bank at 81
bid and 81 asked; Columbia Ma
tional, 1877 bid and 205 asked East
Washington Savings, Is bid; Hamil-
ton National, 90 bid and 81 asked;
Mussey Trust Co. IS bid National
Metropolitan, 287l2 bid with 300
asked; Second National 1872 bid
Security Savings & Commercial. 165
bid and 1876 asked; Suburban Ma
tional 16l4 and 20. and Union Trust
W, 10 Ulu anu % dSkbU.
Among other issues. Fidelity Stor-
age Co. is quoted at lis bid. Griffith
Consumers Corp. preferred at 104
bid, Washington Sanitary Housing
Co. ITO bid and Lincoln Hall Asso-
citation 80 bid. Holders of these
issues are not anxious to sell. as
most of the stocks are not being
offered at any price.
Advertisers Urge U. S. Aid.
All banks, both big and little. were
urged to make just as many defense
loans as possible, to make a special
drive to obtain them and in this way
aid national defense, by the Finan-
cial Advertisers Association in
Cleveland this week National de-
fense was named as the outstanding
problem now before the country.
At the suggestion of David Bornet.
vice president of the National Saw
ings Sz Trust Co of this city, the
association passed a resolution Ito
extend its experience and facilities
to our Government in the further
ance of the national defense pro-
gram. and that the association dis
seminate through its membership
information of value to the public,
to business and industry to aid the
financing of defense projects
Mr.. Bornet conducted a round
table discussion along this line and
urged every bank in the United
States to make these loans. If a
- i,o n
the loans, he told the advertisers
that each bank should direct loan
applicants to other banks where
thev NAV obtain all the money
needed for all sound undertakings.
Robert L. Flather of the American
Security & Trust Co., member OF
the Advisory Council. also attended
the meeting. The association set
September 8-l1 as the dates for the
annual convention.
Security Dealers to Meet.
James Parker Nolan, chairman OF
district No. II. National Association
of Securities Dealers. today an
nounced a meeting to be held in
Baltimore Friday afternoon at the
Merchants Club, when Francis T.
Greene. assistant director of the
trading division of the Securities
and Exchange Commission, and
Henry L. Rosenfeld, jr., chairman
of the Securities Dealers Technical
Committee, will discuss the two
recent hypothecation rules of the
exchange. which went into effect
yesterday.
In addition to explaining these
rules. Mr.. Greene will talk on
manipulation in the overtime
counter market. These men have
toured the country and held similar
meetings in q large number of cities.
StatIer Representative Named.
Appointment of C. Henry James
AS sales representative of the Hotels
Statler Co. in Washington, was an
nounced today. He will come here at
once and take Office in the Invest
ment Building, which adjoins the
property on Sixteenth street, on
which the new Statler Hotel will be
built.
ssr. James is a Southerner by
birth and a Northerner in his hotel
training, now DelIlB CONNECTED WIFI
the Statler Hotel in New York. He
Is a graduate of Duke University, in
the school of business administra-
ticn. He was with the National
Cash Register Co. before entering
hotel work, and is 81 years old
The new Washington Statler is
scheduled to be opened in the sum-
mer of 1912. 1t will be a 1,oOO-room
hotel.
Lowe to Address Controllers.
The monthly meeting of the Dis
trict of Columbia Chapter of the
Controllers Institute has as its
speaker tomorrow evening DR..
James Lowe, professor OF political
science of the Foreign Service
School of Georgetown University
His subject will be The Powers of
the President in Foreign Affairs"
r. H. Kenworthy. controller of the
Chesapeake e. Potomac Telephone
Co., and president of the local chap
ter, will preside at the meeting,
which will be held at the Carlton