Evening star., 1943-02-01
Nofk Prices Boosted
On D. {. EXCHANGE
During January
Capitol Transit Scores
Six-Point Advance
And Leeds Sales


Six-Point Advance T..
And Leads Sales
BY EDWARD c. STONE.
January prices on the Washington
Stock Exchange scored almost con-
start advances, reached new highs
for a much longer period and at the
same time continued to return some
exceptionally high yields, survey.
shows.
Capital Transit was in the best
demand. 333 shares changing hands
during the month. the closing price
of 80 revealing gain Of practically
points. At 80 the stock yields
$50 per cent. ,.
Potomac Electric Power per cent
preferred ended the month at 1864,
practically unchanged. and now
yields $40 per cent. Potomac Elec-
trlc 5la per cent preferred moved
up about half point to lis, To-
yield 4.65 per cent. ~.
Washington Gas common. at II,
was of a fraction from the months
high mark. At the present dividend.
rate of $3.50 year, the stock yields.
the extra high return of $50 pet.
cent. Gas Light $3.50 preferred, at
90, is at the high for 1912, and
yields 499 per cent, while the $5'
preferred. off 2 points, ended Janu-,
ary at $685. to return SOS per cent.
Riggs National Bank common has.
sold at one price this year, $50, to.
yield 480 per cent. Washington.
Loan & Trust. selling at ZOO yields
per cent. Other bank stocks have
been neglected. Real Estate Title.
Insurance at $50 returns per cent.
Mergenthaler Linotype. at 40, pays.
the highest return on the exchange,
1880 per cent, at the present divi.
dend rate Of IS share.
Ration Expansion Forecast.
A need for further rationing Of
commodities and tighter price con-
trolls was forecast by the monthly,
business survey Of the magazine.
Banking, official journal Of thu
American Bankers Association.
Assuming that the fight on price
imitation will stop at nothing that Isl
necessary, it is possible to line up
several things fairly sure to happen.
Taxes are bound to be increased so,
it will very probably be necessary to.
place the additional burden on those,
who are the chief beneficiaries Of the
Treasury's spending. From now on
the only people able to pay higher
taxes will be those whose incomes
are higher as result Of the war.
Another certainty is that the sale
of Treasury issues, both War Savings
bonds and the regular Victory offer.
ings, must be greatly expanded.
Just as with taxes, it would be bet
ter if the selling effort were aimed,
more definitely at those areas and,
individuals who are on the receiving
end so that the Treasury can get
it back from those who got 1t, the
magazine says.
Loans on Homes Increase. -
In his annual report, William
Montgomery, president of the Acacia.
Mutual Life Insurance Co., stated
that the company plans to make
further extensive purchases Of Gov
eminent bonds during the coming
year, and at the same time TO b
helpful to people in the pprchass
of homes 90, =
In practical application Of this
point of view, Acacia last year in,
creased its mortgage loan account
by approximately 5000 900. As sa;
December 81, the mortgage loan
account stood at $62, ,865 900, virtually
all of which represented fund.-
loaned to men and women for the
purpose of buying individual single.
family dwellings. : y.
District Second in Trade.
The Federal Reserve Board hal
announced that the Richmond Re.
serve district stood second in de.
partment store sales gains in 1912
with an increase of 18 per centtovel
1941. San Francisco headed the /,
trade areas with % per cent gain
Kansas City was third, up II pei
cent.
Trade in the Dallas area was II
per cent better than in 1941. while
the Atlanta and st. Louis district.
found trade IL per cent ahead Of the
previous year. Boston, Philadelphia
Cleveland and Minneapolis district.
reported IL per cent upswings.
Chicago sales were up l per cent
The New York district stood at the
bottom of the list with 7 per cent
advance. The average gain for the
IL districts for the year was Il
per cent.
Garrett Back From Training.
George A. Garrett. resident partner
OF Merrill Lynch. Pierce, Fenner q
Beane, New York Stock Exchange
firm, was expected back In the
financial district late today after
taking months military trainina
at the special school at Fort Leayen. .
worth. The school takes a yery
limited number of business and pro,
fessional men and gives a rieid
course covering wide field Of Army
activities. 80 =
The preliminary report for 1947
OF the Virginian Railway shows net
earnings of $2.73 a share on the com.
mon stock against $3.50 per common
share in l941.
Capital Traction Bonds On, ,
Capital Traction SIS sold at a neV
high for 1943 on the Washington
Stock Exchange today, 105h. The
final bid was los with none offered
at any price. The high for these
bonds last year was LOG with 1U3 the
low. Sales were the heaviest OF any
issue in the list.
So Tar this year other bonds have
been very much neglected. While
BIDS remain strong. there are II.
issues which are not being offered
for sale at any price. The highest
bid, 1861, is on Washington Gas -5S
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