Evening star., 1941-09-29
Capital Bank Stocks
Display Firm Tone
In 9-Month Period
SoIes Volume Small
On D. c. Exchange
So Far This Year
By EDWARD c. STONE.

bN EbN AND u. SlONE.
In the first nine months OF this
year bank stocks listed on the Wash
ington Stock Exchange, as we'll as
those sold over the counter. have
registered strength and many are
near or at the best quotations of
the year. Sales have been only mod
crate on the exchange.
Riggs National Bank common
stock recorded two substantial sales
recently around 275, gain of S
points. The only sale on the ex-
change this year in Riggs preferred
was at 1O2. Liberty National has
sold at only one figure this year,
ITS. National Bank of Washington
stock has similar record, moving
at 1l8.
The latest sale in American Sc
curity & Trust Co. stock registered
225 Washington Loan g. Trust
sold at 224 and National Savings
& Trust came out weeks ago at 204.
Other bank stocks on the exchange
have been very quiet. The last bid
for Bank of Bethesda was 80; for
National Capital stock. ITO; Bank
of Commerce & Savings, $50 eX-
dividend; Lincoln National. 2l0. and
Prince Georges, 20. These bids have
been practically unchanged for
weeks
While bank stock sales over the
counter are not made public, these
stocks are strong, Judging by the
quotations. The bid for Anacostia
Bank stock is now 160; City Bank
25, with 80 asked; Columbia Ma
tional 1876. offered at 205; East
Washington Savings, 141a. Hamil-
ton National is now quoted at 2812
bid. and 81 asked; Munsey Trust at
IS bid, National Metropolitan 265
bid. offered at 278: Second National
761 bid, and Union Trust wanted
at IS with IS asked.
Richmond Leads IL Districts.
The Federal Reserve Boards latest
report shows that retail trade in
the Richmond Reserve district from
January l to September 20 was %
per cent better than year ago,
the largest gain of any of the u
districts. The average trade upturn
in the whole country was II per
cent.
Four other reserve districts re-
ported 20 per cent advances in the
same period over last year-Cleve-
land. Atlanta, St. Louis and Dallas.
In Philadelphia the gain was l9 per
cent.
Up. to September 20 sales in the
Boston area were up II per cent,
New York IA per cent, Chicago Is,
Minneapolis -. Kansas City Is and
San Francisco 18 per cent.
Mergenthaler Earnings Rise.
MANY Washington investors are
awaiting with unusual interest the
annual report of the Mergenthaler
Linotype Co. The companys fiscal
year ends tomorrow and the report
will probably be out some time in
& October.
n While there has been no official
announcement this year, it is known
e that the company has been working
on national defense orders aggregat-
ing many millions. 1t is also under
stood that for many months the
demand for the company's regular
product - linotype machines - has
been better than for several years,
due in part to fear among printers
and publishers that they might not
be able to get new machines when
needed in the immediate future.
That the earnings figure has
changed sharply for the better is
indicated by the fact that two divi-
dends have been declared within the
past three months. On July 25 a
dividend of 81 was paid and tomor-
row stockholders will receive checks
for $3.50 per share, making $3.50 for
the company's fiscal year. The $3.50
payment this year, against 81 a
year age, clearly indicates the up
turn in earnings.
Virginia Bankers al Chicago.
Hugh Leach. president of the Fed
eral Reserve Bank of Richmond, and
George H. Keesee, cashier and Sec
retary, are attending the A. B. A
convention in Chicago.
Others from Virginia include T. E
Sebrell, ir executive vice president
of the Clarendon Trust Co.; C. L.
Robey. president of the Purcellville
National Bank; T. c. Boushall, pres
ident, Morris Plan Bank of Rich
mont, and j. Harvey Wilkinson, jr.
State Planters, Richmond.
S. H. Plumber, Clarendon Trust
Co. is also in the delegation, as are
Joseph E. Healy, president, Citizens
National Bank. Hampton, and
Franklin K. Lenz of the Virginia
Bankers Association.
Deposits More Than Doubled.
Following the controllers call of
October 25, 1888, just after the bank
holiday deposits in Washington
banks totaled S217 1908 ,57416. Fol-
lowing last weeks call, dated Sep
tember "a deposits were above $477,-
100000, show that they have far
more than doubled in the interim.
The Maryland Road Commission S
SO 100000 bond sale is the most i'm
portant item on the municipal
calendar for the present week.
Other larger issues are due soon.
The Virginia Railway reports for
the first eight months of this year
earnings of s212 per share on the
common stock, against $3.50 in the
liken period a year ago.
Trading Lively on Exchange.
Trading was lively on the Wash
ington Stock Exchange today, the
market opening with 10 shares OF
American Security g. Trust stock
moving at 225, under the last pre-
vious sale.
Washington Gas Light preferred
was in demand as shares selling al
1Os, unchanged. Capital Transit wa,
also active, 40 shares selling at 16A
off IL.
Mergenthaler Linotype registered
q 12-share sale at 2517. off "a. Ir
the bond division Capital Traction
5s came out at 1857 on a $50t