Evening star., 1942-11-05

IOdayS report 1olloWS announce.
ment of an increase of $4,957,9 1888 in
October bank clearings over last
year and Jump of $267 1853 in postal
receipts.
Brokers Distribute "Tax Kit"
Merrill Lynch, Pierce, Fenner q
Beane today distributed the 1942
edition of the Investors Tax Kit"
to customers and friends in the
financial district. The kit includes q
pamphlet survey of the new tax law
as 1t applies to investors of all in
comes and was prepared especially
for this firm. 1t includes the firms
monthly letter, points out significant
changes in the tax law and has
three work sheets intended to make it
easier to compute capital gains and
losses.
Preparation and mailing Of the
tax kit and approximately 10000
letters, plus a special advertising
appropriation, will cost the firm
more than $4,000, 1t was stated at
the Washington Office today.
Charles E. Merrill, senior partner.
has been especially interested in
distributing the kits all over the
country.
Mr.. Merrill is a great believer in
the value of advertising, ANNOUNCE
ing that the firms branch Offices
have added thousands of new ac-
counts in this way. The firm also
has spent large sums in advertising
War bonds. -,
Real Estate Bonds Climb.
Two hundred real estate bonds,
including several Washington issues,
scored an average gain Of is per
cent In October. over October, 194l,
the Amott-Baker price averages
reveal. The October increase was
much better than in September.
The average price of a $1,000 bond
increased to 1922, compared with
$317 in September and 1902 at the
end Of 1941. The year-to-year gain
for the averages at the end of Oc.
tober was 6.6 per cent.
Miscellaneous issues, which in.
clude the Washington bonds, made
gain Of 20 per cent during Octo-
Der and so far this year have gained
IA per cent, today's survey said.
North Americans Net Up.
Consolidated net income of the
North American Co. and subsidiaries
for the IL months ended September
80, was $4,000 1862, equal after pre-
ferred dividends to $1.81 per COM
mon share, against $1.79 for the cor.
responding period year ago.
For the three months ended Sep.
tember 80, 1912, consolidated net in.
come was $4,394,934, equal after
preferred dividends to 40 cents per
common share, against 46 cents a
year ago.
Consolidated provisions for in
come and excess profits taxes for the
IL months ended September 80, 1942.
increased 75.4 per cent and amount-
ed to $l8,878,240. equal to $2.2O per
common share, compared with $40.
765 1894 or $1.26 per common share
Tor the corresponding previous pc
Rod, today's report said.
Today's Trading on EXCHANGE,
Two sales OF Garnnckel preferred
were registered on the Washington
Stock Exchange today at Is, un-
changed from the last transfer. Tho
market closed at "a bid and 26
asked. At Is the stock yields 8 per
| cent.
Mergenthaler Linotype sold on
the Boston Stock Exchange yester-
day at 351a and IS. The last sale on
the Washington exchange took place
at 37A. The market closed today
with 351a bid and 81 asked.
The Washington Gas Light Co.
and subsidiaries report for the II
months ended September 30 a con.
solidated net income after taxes Of
81 ,060, ,532 compared with a net in
come OF $l,31l,641 for the preceding
IL months.