Evening star., 1942-08-04
ID. C. Exchange More Active.

July 178, 100 155 1891
ID. C. Exchange More Active.
Trading on the washington Stock
Exchange was much more active
today. The days largest transac-
ton was the sale Of 1872 shares OF
washington Railway & Electric pre-
ferred at 110, up one point. This
stock rarely appears on the board.
It closed at 100 bid and none Of
fered.
Ten shares of Washington Gas
A50 preferred came out at 95, un-
changed from last week.
Warrington Gas common opened
With 20 shares selling at is, up "a,
followed later by the sale OF 10
shares at the same price.
Washington Gas IS also appeared
on the board, . $500 bond moving
1t 1851, OF IA points.
A single share Of Potomac Electric
Power preferred changed hands at
lis. .-
ID. G. Stores Heavily Stocked.
Washington department stores
were more heavily stocked with
goods In June than were the stores
elsewhere In the nth district, the
Federal Reserve Bank OF Richmond
reports. The stores here had 10 per
cent more goods on hand than on
June 30, 194l.
The average for the fifth district
in inventories was 66 per cent over
last. There were 46 per cent more
goods In Richmond stores, GO In
Baltimore and 43 In group Of other
cities.
Orders for goods outstanding for
Washington stores were practically
the same as last year In June. Out
standing orders for merchandise IN
Richmond were up 90 per cent. IN
Baltimore IS and in the other cities
8, and In the whole trade area IL
per cent.
June collections all over the dis
trict were good, but Washington fell
behind the other cities. OF the bills
due the first of the month, collec-
tions In the Capital were 36 per cent,
In the NTH district 40, In Baltimore
IS, Richmond u andsthe other cities
% per cent.
As already noted, June trade in
the Capital was 16 per cent ahead
Of June, 1941, and up ~ per cent IN
the six months.
n Amendments Adopted.
Approximately two-thirds Of the
voting members Of the National A.
sociation of Securities Dealers ap-
proved a amendments to the by:
laws, including one requiring strict
supervision over statesmen, Wallace
II. Fulton, executive director, an
nounced In Philadelphia today.
The members approved the
amendment requiring . member who
''clears" his own transactions to
maintain q minimum Of 5000 net
capital and the member who clears
transactions through another to
maintain . minimum Of $500. OF
the 73S members voting on this
measure 80 per cent opposed 1t.
Paul Named Treasury Counsel
Randolph Paul, nominated by
President Roosevelt as general coun-
eel Of the Treasury, has been tax
adviser to Secretary Morgenthau
and has been. representing the
Treasury before the Ways and
Means Committee and the Senate
Finance Committee.
A native Of New Jersey, he is 81
years old, member of the New
York har and has lectured ut Yale
and Harvard. When confirmed, he
win succeed Edward H. Foley. jr.,
who resigned his post and now has
. commission as lieutenant colonel
IN the United States Army.
Morgenthau to Boost Bonds.
Secretary Morgenthau will be the
headline speaker at q mass meeting
at Roanoke, Va, August 20 to stim-
ulate the sale of War bonds, 1t was
announced today. The rally will be
held In the Municipal Stadium, Just
completed, which seats 5000 peo-
pie. Senator Glass has been in
vited to the rally.
Substituting for her husband, Mrs.
Henry Morgenthau spoke at the War
bond rally in Richmond at the week
end. She made strong plea for the
purchase Of both War bonds and
stamps, which ARE in a peculiar
sense symbols OF everything We are
and nope to be as q Nation. Back
Of them stand all the wealth and
resources of the country"
Bankers Taking Vacations.
r. e. Harris, assistant treasurer
OF the American Security & Trust
Co.; william French and J. Eliot
Moran, assistant trust officers, are
on their vacations. Vice President
Howard Moran is back at his desk
after a vacation.
Irving zirpel, secretary OF the
Union Trust Co., has returned from
a months vacation at Tall Timbers,
In Maryland.
The Virginian Railway reports
3148 per share earned on the COM
mon stock in the first six months
Of this year against S147 q year ago
The Continental Life Insurance
Co. of Washington has been admit
ted to membership In the Institute
OF Life Insurance, national service
III