Evening star., 1942-07-13
High Yields Attract
Attention on D. T.,
Stock Exchange
MereenthoIer Heads
List With Rote of
1873 Per Cent
Ry EDWARD c. STONE.

BY EDWARD c. STONE.
Members of the Washington Stock
Exchange commented today on some
of the extra high yields offered by
several of the listed issues, although
they do not claim these stocks are
the best investments on the board.
At present, Mergenthaler Linotype
heads the list with yield of 1873
per cent, based on the last sale at
321a. Second in the list is WASH
ington Gas Light common which is
returning 1850 per cent, based on
the present dividend rate.
Third in the list is Carpet Corp,
which sold the other day at 20, max
ing the yield an even 10 per cent.
Peoples Drug Stores common holds
fourth place in yields with a return
of 9.19, based on the last sale at 1872
Lincoln Service prior preferred
yields 8.75 per cent, and National
Mortgage Investment preferred 888.
Woodward & Lothrop common now
yields 7.66 and the preferred $50
per cent.
Capital Transit now yields 635
per cent, Potomac Power per cent
preferred, 5.21 per cent, and Ma
tional Union Insurance, 5.35 per
cent. Other more conservative
yields are on Norfolk g. Washington
Steamboat stock, 4.31: Potomac
Power 51a per cent preferred, 480,
and Railway g. Electric preferred,
4.58. National Bank of Washington
leads that group with 5.58 per cent
yield, a survey shows. Security
Storage yields 5.7l and Terminal
Refrigerating g. Warehousing 6 per
cent.
Yields on other issues are more
conservative, such a list including
some of the soundest investments
on the board.
Banks Report Net Deposits.
In connection with the bank call
issued by the Controller of the Cur
rency, dated June 30, 1912, Wash
ington bankers are carrying out the
new instructions regarding the re-
porting of reciprocal interbank bal
ances in the statements now beng
sent to the Treasury.
Beginning with the current call,
reciprocal interbank demand depos-
its with banks in the United States,
except private banks and American
branches of foreign banks, are being
reported net instead of gross. Such
interbank deposits arise when two
banks maintain deposit accounts
with each other. e., each bank has
both q due form" and "due to"
account with the other bank.
The controller of the currency mas
s,1pulied the banks with full IN
str,lctions as to how the reciprocal
deposits are to be reported. BY
wav of illustration, the controller
saws: Bank A has a demand deposit
of 81 900 900 with bank 3, and hank
B has a demand deposit of S200,0oo
with bank A. On a met" basis,
hank A will report only S800,C0O as
due from bank B and nothing as
due to Bank B; conversely, bank b
will report only 100000 as due
bank A and nothing as due from
bank A. ~
Of special interest to the layman
is the aggregate reduction IN oanK
deposits which will be reported un-
der the new regulations. There will
be a substantial difference. In
washington met" deposits Will be
about s8,5o0,0OO less than gross"
Treasury officials said today that
thew aimed at showing exactly how
much money the banks have on
deposit, thereby avoiding all in
fationary figures in assets and la
bilities. The new rules Will OF
course make far greater difference
in New York bank reports than
elsewhere.
MARYLAND Financing Holds Up.
Home financing in Maryland cit
les and towns during May amount
ed to $7,560,000, with a total OF
2,671 mortgages of $4,000 and less
being recorded, the Federal Home
Loan Bank reported today. Nom
farm mortgage recordings totaled
$6,321 900 in April of this year and
S7,o38,OO0 in May, 1941.
Home financing in Virginia cities
and towns during May amounted to
S7104,000, with a total of 2,443
mortgages of $4,000 and less being
recorded, the Home Loan Bank re-
ported today.
The figures reflected the curtail-
ments in new construction because
of wartime material shortages. Non.
farm mortgage recordings totalec
$6,628,000 in April of this year ano
S7,S74,000 in May, 1941.
Financial District Comment.
John r. Waller, president of the
International Bank, Jackson place
has Just completed his 23d year az
head of the institution, which ht
and his brother, Austin r. Waller
founded. The institution is an in.
vestment concern and not banl
of deposit.
Washington bankers report tina
there is steady demand for ta1
anticipation notes among patron.
of large means in their institutions
The demand has held up well eve,
since the notes were first Offered
as a good way to meet the extra ia,
levies, bankers say.
Bankers Start Vacations.
Several Washington bankers ar
on their annual vacations although
few special trips are being planne'
this year. H. T. Bisselle, vice presi
dent of the Riggs National Bank
started his vacation today as dit
George M Fisher, vice presiden
and treasurer of the Washington
Loan g. Trust Co.
Albert M. Bishop. assistant sale
manager, has been promoted t
assistant general manager C
Smiths Transfer & Storage Co,
was announced today. Mr.. Bishop
a graduate of Syracuse University
was formerly with the Grey Va
Lines Co., in New York.
New York Stock Exchange Of
fees drew large attendance agai
today for the opening. The "bu
market" opened about where
closed Saturday. Last weeks ir
crease in volume was more tha