Evening star., 1941-10-27
Mergentha|er Leads
Trading in Stocks
On D. {. Exchange
Highest Price in l94l
Reached on Reports
Of Better Earnings
By EDWARD c. STONE.

ISSUES llSteQ Oh lHe WdSIllUgJ JOI
Stock Exchange. reminding mem
bers of 10 years ago when this ISSUE
was one of the market leaders il
nearly every days trading.
Nine hundred shares of Mergen
thaler changed hands during fiv'
trading sessions last week. recore
not equalled in years in this issue
On Monday 220 shares moved
Wednesday witnessed a turnover O
205 shares and Thursday registered
the high mark of 435 shares. Othel
trading was in smaller lots.
The week saw the stock reach 81
. new high mark for the year, aftel
many sales at 26 and 26l2. Basee
on recent dividends, the stock i.
now yielding better than pc
cent. as it has paid $3.50 so far thi:
year. Earnings for the fiscal yea
ended September 30 are reported il
New York to have been around s.
. share. very different from las
years small return. Hundreds o,
Washington stockholders are await.
ing the report.
Today's Trading on Exchange.
Mergenthaler figured in a small
sale on the Washington Stock Ex.
change today. selling at 27, un'
changed. The final bid was q, with
the asked price moved up to 2Sl2.
The weeks trading opened witt
four shares of Riggs National Banl
common stock coming out at 273 2
same as last weeks close. The stocl
closed with 270 bid and 280 asked
Capital Traction IS led the marke
today. The bonds opened with fou
81 200 transfers at los. unchanged
from other recent sales. Later tw'
more $1,000 bonds moved at tn
same figure, closing with l04l2 bid
offered st 1857.
Members of the exchange hat
eome substantial orders for Ameri'
can Telephone per cent debenture'
which they could not fill, as al
available bonds were sold so quickly
Extra Compensation Voted.
Washington representatives OF thu
Fidelity g. Deposit Co. of Baltimore
and the American Bonding Co. OF
Baltimore announced today that tht
directors of the companies have
voted extra compensation to al
full time employees amounting tc
10 per cent Of their annual salaries
effective January l, 1912.
The action was taken as an emer.
eencv measure, the directors ex'
planning that the emergency allow
ances" had been granted as mean'
Of enabling the company's employe'
better to meet the burden OF rlsint
living costs, Manager William M
Baker of the Washington Office said
The company's employees have alst
been informed that in addition tt
the emergency allowances, a casf
bonus of per cent Of their presen
annual salaries will be paid to al
IN the employ of the two com
penies for the full calendar yea
194l
Total Bank Reserves Doubled.
The October Bulletin OF the Fed
eral Reserve Board says that ex
cess reserves reached a maximum O.
about 7 billion dollars in the latte
part of 1910 and again in Januar,
of this year, but have subsequent.
declined to about 5 billion dollars
The principal reasons for thi
decline were the growth in tht
amount of currency in circulation
which reduced the total volume o.
bank reserves, and an increase ir
required reserves resulting from
bank deposit expansion.
When the increased requirement.
ko into effect November /, the tota
amount of required reserves of mem.
Der banks will be approximately g..
billion dollars. This is double th'
amount that would have been re-
ouired under the basic minimum
percentages given in the Fedora
Reserve Act.
B. b o. Net Up $4,000, 900.
After providing for an increase o.
about $4,000, 900 in maintenance o.
road equipment and an increas,
OF s1,743000 in taxes, net income o1
the Baltimore g. Ohio Railroad fol
the first nine months of this veal
vas sl7,891 POT, an increase of SIS,
780,627 over the same period o.
1910, it was announced today.
Operating revenues for September
were $40, ,482, ,345, an increase of 81.
45l l642, compared with September
1910, today's report said, Operatin,
revenues for the first nine month.
OF this year amounted to S166.124,'
467, an increase of s35,306,449 com
pared with the like 1910 period.
Net income for September totalee
e2,742,s04, compared with 1888, ,48!
m September, 1910, an increase o
e1,759,315, one of the best MONTH.
gains Of the year.
Reilly, Jr, Heads Company.
Notices are being sent out to pa
irons announcing the recent cleo
ton of Hugh Reilly. jr., son of th'
founder, as president Of the veteran
paint concern.
At the same election, John
Kehoe, formerly connected with th'
paint division of the Dupont Co
was made vice president and genera
manager of the Washington com
eany.
The firms present personnel re
mains practically unchanged, Th'
company has just entered its 54tl
year.
Virginia Bankers Convene.
Richard L. johnson, Riggs Ma
tional Bank. addressed the meetin
OF the Piedmont Clearing Hous
Association at Culpeper, Va. las
Friday night, following a dinner
The association includes larg
amount Of banking territory in tina
part of the State. Mr.. johnson CAV
. most interesting address on Pub
he Relations"
Savings and loan associations il
Maryland. which are insured by tn
Federal Savings g. Loan Corp, mad
702 home loans during September
totaling S2550,527, it was announce
here today.
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