Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-03-23
Securities on Capital
Exchange Make Good
Showing in Quarter
Many at New Years
Peaks; Average Yields
Also Favorable
BY EDWARD c. STONE.

securities listed on the WASH
ington Stock Exchange are ending
the first quarter with many issues
at their highest prices of the year
and many others close to that point.
All the utility bonds are being
quoted far above par, and the bull
market prices of stocks have been
extra strong in recent sessions.
survey discloses. Average yields are
also favorable
Washington Gas Light IS, 1860. at
1891, are at their best price of
the year. also the highest priced
issue on the board. They Weld 2.90.
The most active pond, on the list,
Capital Traction SIS, sold recently
at 1861, to return 1862 per cent.
Washington Railway g. Electric as,
at 100, yield 265 Bids for the other
utility bonds are strong. but not
strong enough to cause recent sales.
owners refusing to part with them
at any price.
In the stock division issues at
their best 1943 prices include Poto-
mac Electric Power per cent pre-
ferred and 81 per cent preferred,
Washington Gas Light common, Gas
So preferred, Riggs National Bank
common and preferred, National
Bank OF Washington, National Saw
ings & Trust, Washington Loan e.
Trust and Bank of Bethesda.
Other stocks at 1913 peaks COM
prise Garfinckel common and pre-
ferred, Lanston Monotype. Mergen-
thaler Linotype, National MORTGAGE
& Investment preferred, Peoples
Drug common, Security Storage
and Woodward & Lothrop common.
Riggs Bank common is the high
eSt-prlced stock on the exchange
in which there has been trading
this year and at 200 yields 4.6l per
cent.
Bond Drive Plans Developed.
First plans for the Capitals par
tlcipatlon in the Treasurys inten-
sive drive to sell $4,000 900 900
United States Government securities
in the second war loan campaign
III April, were announced yesterday
at meeting at the Statler Hotel
attended by many bank officials and
presided over by H l.. Rust. jr..,
chairman Of District of Columbia
War Finance Committee
Among the sneakers were Wilmer
J. Waller, Hamilton National, chair
man of the banking division of the
committee; Robert V. Fleming,
president Riggs National; Winslow
B. Van Devanter, vice chairman of
the committee. and John A. Reilly,
president District Bankers ASSocia-
ton
The banks Will have the major
burden Of selling these securities in
the coming drive as they did in the
first one. The campaign will be still
more intensive, it was announced
The Nations commercial banks
are to be asked to purchase S500O,-
100000 securities and insurance
companies, building and loan asso-
Citations, corporations, other instl-
tutions and individuals, s8.0O0-
600 900.
InstaIlment Accounts Decline.
that department store installment
accounts at the end o: January con-
tirued substantially below the year
ago levels. Collections on INSTALL
ment accounts in January declined
7 per cent
Showing more than seasonal
decline charge accounts at the end
of January were 30 per cent below
the same period in 1912 Collections
rose in January, but were 5 per cent
less than a year ago.
Department store cash sales.
which comprised SO per cent of the
total. were considerably larger than
in the corresponding month last
year. 1nStallment sales declined IS
per cent below the year ago level as
compared with decrease of II per
cent for charge account sales.
Washington Men to Speak.
Three men from the Office of the
chief OF engineers in Washington
will conduct a special Army enoi-
neering hour at the Midwest power
conference in Chicago, it was an
nounced today.
The men selected are Col G. F.
Lewis. chief of the repairs and
utilities branch of the construction
division; 1t. Col Louis c. McCabe,
chief of the heating and refrigera-
ton section, and James A. Heffcrnan
Of the electrical facilities unit of the
maintenance and utilities section
The conference. largest of its kind
in the Nation, will be held April
and at the Palmer House
Today's Trading on Exchange.
Twenty shares OF Riggs National
Bank preferred solo on the Wash
lngton Stock Exchange today at
1929, unchanged from the last pre-.
vlouS transfer The market closed
with 102 bid and 104 asked
Carpet Corp stock is now being
quoted ex-dividend, the regular So
cent quarterly dividend to be paid
shortly Bank of Commerce & Saw
lngs is also being quoted ex-
dividend, at 1925 a share.
Merrill Lynch, Pierce. Fenner e.
Beane report a lively demand for
the brokerage firms annual review
OF bank stocks, indicating that in
Vestors are maintaining their in
tproCf