Evening star., 1942-05-21
Capital Bond Issues
Maintain Unusual
Price Stability
All Utilities Listed
On D. c. Exchange
Well Above Par
Rv EDWARD G.. STONE.

now Selllng well ABOVE par, q recOrC
believed to be unequaled on any oi
the other exchanges in the country
Price stability so far this year has
been impressive. recent fluctuations
being very small in any of the issues
a survey reveals.
Washington Gas first SIS continue
to be the highest priced bonds or
the exchange, the last sale being
registered at 125. Next come George
town first SIS, at 119, followed by
Anacostia &, Potomac r. r. guaran-
teed SIS, which commanded 1922 or
the last sale. Washington Railway
& Electric As, at 100, are among the
highest priced issues in the list.
Anacostia & Potomac r. R. modi-
fed 334s registered 1861 on the last
sale, while City & Suburban modi-
fed 3'4s moved at the same price
Capital Traction IS have been by
far the most active bonds this year
the turnover reaching $4,000, with
the last sale at 104a4.
The growth of the Capital. with
the attendant steady increase in
demand for the facilities which
these utility concerns offer, is ex-
pected to keep the bonds strong for
long time to come. Members OF
the exchange say they have many
more orders than they can fill.
Several Washington real estate
issues, sold over the counter, are
also enjoying enviable popularity at
this time
Treasury Gives Bond Views.
According to a recent Treasury
letter addressed to the District
Bankers Association, United States
War savings bonds registered in the
form "A payable on death to B" are
payable to "B" upon the death of
"a" and do not become part of AS
estate.
The matter came up for discussion
as the result of a court ruling in the
State of Washington which said that
such bonds constitute part of the
estate of the purchaser in spite OF
the above form Of registration.
This ruling caused a decided stir
all over the country. as great many
bonds have been bought with the
definite plan that they were to GO
to a second person, in case of death,
and not become a part Of the pur-
chaser's estate.
That "A" could buy bonds and
make "B" the designated benefi-
ciary has been used as one of the
leading selling points in the distri-
button of the bonds. This makes
the Treasury view" of far-reaching
concern.
American Store Sales Soar.
Sales of American Stores Co. in
April reached S19,657,143, a jump of
419 per cent over the same month
last year Sales in the first four
months of 1912 made exactly the
same percentage gain over last year
Smaller net income reported by
the Pennsylvania Railroad for the
first quarter of 1912 than was in
dicated by adding the totals for
the first two months and the month
of March was due to sharp ad-
justment upward in provision for
taxes in view OF the anticipated
higher tax rate.
In commenting on the peace
talk" which has been a factor in
trading on the New York Stock Ex-
change recently, Washington brokers
suggest that nobody can have the
slightest idea when the war will end.
Some add, however, that it might
be we'll for investors to buy peace
stocks" since war stocks" have been
doomed for such long time, this
view being taken for the long pull.
More Dividends Announced.
Directors of the Lincoln Service
Corp, industrial banking firm, yes
terday declared the regular quar-
terly dividend of IL per cent on
the per cent cumulative prior pre-
ferred stock, payable June IL to
stockholders of record May 20.
President Charles Delmar an
nounced today.
The directors also declared the
regular quarterly dividend of IL
per cent on the per cent cumula-
tive participating preferred stock
and the regular quarterly dividend
Of Is cents per share on the common
stock, these dividends also to be
paid June II to stock of record
May 20.
The corporation reports an in
crease of 1873 per cent in net earn
ings in the first four months of
1912 over the like period of 1941.
American Co. Votes Dividend.
The Board of Directors of the
American Co., real estate firm, has
declared a dividend of $3.50 per
share on the preferred stock, pay
able June 6. 1912, to stock
holders of record May 80, President
S. Percy Thompson announces.
The Maryland Bankers Associa-
ton opened the annual convention
in Baltimore today. DR.. Elmer
Louis Kayser of George Washington
University will be the speaker at the
banquet tonight. Stuart L. Brown,
cashier of the First National Bank
of Southern Maryland. is first vice
president and due to head the Or
ganization next year.
Loan Leaders Study Problems.
Rudolph w. Santelmann, secre-
tary, Metropolis Building Associa-
ton, will 60 to Chicago this week
end to attend the fourth annual
Nationwide management confer
ence for executives of building and
loan associations and cooperative
banks. Sixty-f1ve executives from 18
different States will answer the call
from the United States Savings and
Loan League, to consider the re-
sponsibilities which the war places
upon their institutions.
Among questions to be discussed
are war damage insurance, practical
problems in operating under w. P. B.
conservation order L-41 restricting
new home building to war industry
areas, payroll allotment plans for
war savings bonds, automobiles used
IN the associations business, per-
sonnel problems created by the war,
and the savings of the war worker.
Bonds in Lively Demand.
Bonds were in lively demand on
the Washington Stock Exchange to-