Evening star., 1943-03-29
Peak Prices Reached
|By Stocks Listed
On D. {. Exchange
Volume Of Trading
Also Shows Coins,
Survey DiscIoses
BY EDWARD c. STONE.

week, four issues reached new 1913
high marks, while the volume Of
trading also expanded moderately.
Peoples Drug Stores common sold
at 1885 for the first time this year,
up 5s. At the yearly dividend rate
of $1.25, the stock is now yielding
6.32 per cent.
Mergenthaler Linotype reached
421s for the first time in years, with
a half point gain. Paying IS a year,
the yield at the present price Is 1l.90
per cent, highest return OF any issue
in the list.
Washington Gas common was an
other stock hitting a new 1943 peak
during the week, when it sold at
1924, up "a. Paying $150 a year,
the stock is now returning 833 per
cent.
The other stock entering new high
ground was Security Storage, which
appeared on the board for the first
time in 1943, selling at 10, to yield
6.42 per cent as it pays $3.50 a year.
Several other issues came close to
making similar records in recent
trading sessions.
Dallas Leads Trade Advances.
In the first two months of 1943,
the Dallas trade area led the other
II Federal Reserve districts in gains
over the like 1912 period, the Federal
Reserve Board has announced. The
gain was As per cent. Kansas City
reported 80 per cent upturn, and
San Francisco, 27.
The Atlanta district showed a 81
per cent rise, while the Richmond
and st. Louis Reserve districts reg
istered l8 per cent gains. Trade in
Minneapolis was up II per cent; in
Cleveland, IL; Chicago, IL; with
Philadelphia gaining per cent;
Boston, 3, and New York only 2 per
cent. The average improvement for
the Nation was 16 per cent
The Reserve Board reported IA
per cent gain in trade in Dallas in
February after shoe rationing was
announced. Kansas City trade was
up SO per cent; Atlanta, so, and
several other districts nearly as
much. Richmond district trade
Jumped 38 per cent and the United
States average was 80 per cent over
February, 1912.
Bank Deposits Still Rising.
Demand deposits in leading cities
in early March increased sharply,
according to the Federal Reserve
Boards monthly review.
Increases in interbank deposits in
dicated accumulation of funds by
country banks, the report said.
During the four weeks ending
March II total Reserve Bank hold
ings of Government securities
showed an increase of $4,000 900,
Rejecting payment of taxes In
cash, money in circulation rose
rapidly early in March and declined
slightly in the middle of the month.
Ration Agreement Reached.
Conference between Office of Price
Administration officials and the
special committee of the American
Bankers Association in charge of
ration banking have brought about
a decision to set the cutoff" line
for accounts at $4,000, it was un-
derstood in the financial district
today.
Dealers and merchants doing busi-
ness below $500 a month will not
open ration accounts in the banks,
in order to reduce the vast amount
of counting of coupons. which has
been expanding so rapidly in the
past two or three weeks.
Ration banking is still expanding
and the banks in some places have
been complaining bitterly over the
amour. of extra work required in
connection with the new service.
Few complaints have been heard
in Washington banks other than
thai the new service is costing about
twice as much as the Government
IS paying for it.
Baltz War Loan Chairman.
Edward c. Baltz, secretary of the
Perpetual Building Association, has
been appointed chairman of the
coming War savings bond drive, for
the building and loan associations.
Mr.. Baltz served in similar capacity
in connection with the first bond
campaign, meeting with marked
success.
He was in charge of purchases of
War bonds by the building and loan
associations tor their own portfolios,
more than $1,000 900 being subscribed
in very short time.
Frank w. Lee, vice president of
the City Bank. will again take
charge of War bond subscriptions by
the labor unions. In the last drive
these subscriptions reached high
figure.
w. j. Waller is chairman for the
bankers and l.. Clark Brown for the
investment firms.
Gas Earnings Reveal Gain.
The Washington Gas Light Co.
reports a net income for the II
months ended February % of ST.
231 ,633, after charges and Federal
taxes, as compared with $l,228, ,254
for the IL months ending on the
same date in 1912.
The weeks trading on the WASH
ington Stock Exchange opened with
a l00-share turnover in Capital
Transit at 80 ex-dividend, which is
equal to the best price this year
The market closed with 80 bid and
33 asked.
Crowded boardrooms witnessed q
buoyant opening for the week of the
New York Stock Exchange. The
ticker carried long dispatches on the
favorable war news, helping strong
and active opening
Value of February construction in
the District of Columbia, Maryland,
Virginia, Delaware, Eastern Penn
sylvania and Southern New Jersey
increased more than SO per cent
over January and was substantially
higher than year ago, Dodge Re-
ports announced today.