Evening star., 1943-07-27
Public Utility Bonds
Make Good 5howinu
On D. {. Exchange
BY EDWARD C. STONE.


All public utility bonds listed or
the Washington Stock Exchange
are winding up the first sever
months of the year with prices al
or close to their. best 1943 quota
tions. Furthermore, every one OF
these bonds is selling far above par
Capital Traction SIS have led the
utility group so far this year with
a $55,000 turnover. Selling at 1852
they yield 3.25 per cent. Second in
activity stand Washington Gas
Light 1st SIS, which have moved from
12712 to 100 and now yield 2.75
Georgetown Gas Light SIS, which
yield 3.22, have advanced from 1872
to 124 in recent weeks.
Washington Railway & Electric 4s
selling at 108a4, are off fractionally
from the years opening. They now
return 265 per cent. The best yield
among these bonds at present is
BIS on Anacostia & Potomac River
RR. 1st SIS, selling at 1862. Potomac
Electric Power 1st 3l4s, 1866, have
been very quiet this year. the last
sale being at 109s4 to return 2.96
per cent.
Anacostia & Potomac Guaranteed
6s have yet to record sale on the
Exchange this year although the
bid stands at Ill. Anacostia & Po-
tomac Modified 3As are wanted at
LOG. Potomac Electric Power 334s,
1877, are carrying a bid of Ill, while
investors would like to pay 1864
for City & Suburban SIS, 1948, but
none are being offered at that price
Commenting on the strength of
the boSd 1sarket, Edison B. Olds, EX-
aha1ge president. said today tnat
members have orders on their books
for a great many more of these
bonds than they can obtain at pre-
vailing prices. Owners have no desire
to sell.
Surprising Gains Revealed.
Some almost forgotten preferred
and common stocks on the New York
Exchange made startling advances
during the past year, according to
the Exchange Magazine. Among the
common stocks, Electric Power &
Light moved from 1ls to 512 from
July Is, 1912, to the same date in
1o43. a gain of 388 per cent. Colum-
bia Gas & Electric common, in mov-
ing from IA to Az, was up 260 per
cent, while American Water Works
was up 200 per cent in climb from
2ss to rs.
Commonwealth Edison moved
from 20 to 265s; Consolidated Edi-
son from 13as to 23s4: Engineers
Public Service. 2 to SIS; Pacific Gas
& Electric, 1888 to 29aa, and Public
Service of New Jersey, 10ls to 1872
North American common was among
the leaders, With a jump from 7as
to 1872, up 1913 per cent. The stock
has gone still higher since the maga-
zine was printed.
Among the preferred stocks
American & Foreign Power, in going
from 81 to rs, made the best per-
centage gain, 261. Electric Power &
Light gained 208 per cent, Common
wealth & Southern 172 and United
Corp, 1873.
Fiduciaries Committees Named.
Earl G.. Jonscher, chairman of the
fduciaries section of the District
Bankers Association, today appoint
ed these four committees for the
coming year:
Nominating-Aubrey O. Dooley,
Hamilton National, chairman; Earl
G.. Jonscher, American Security;
Lester A. Lawrence, National Saw
ings; Willard G.. McGraw, Union
Trust; Edwin B. Shaw, Riggs Ma
tional; William v. Simmons, Liberty
National.
Program-Lester A. Lawrence,
National Savings & Trust. chair
man; J. Wesley Clampitt, jr.. Union
Trust; Harry w. Gauss, Washington
Loan: Ralph Howard, Riggs Ma
tional; William " Simmons, Liberty
National: c. D. Ratcliffe, Munsey
Trust; Warren Nussbaum, American
Security.
Publicity-Edwin B. Shaw, Riggs
National, chairman; Mary L. Chad
wick, Washington Loan; James E.
Connor, American Security; Lester
A. Lawrence, National Savings.
Standardization - Bernard L.
Amiss, Washington Loan, chairman;
S. Winifred Burwell, National Met
ropolitan; A. j. Byrne, Munsey
Trust: Herman G.. Lauten, National
Savings; J. Eliot Moran, American
Security: J. Robert Sherwood, Prince
Georges Bank & Trust; Ralph G.
Wilson, National Bank of Wash
ington.
Gas Common at New 1943 Peak.
Washington Gas Light common
was strong on the Washington Stock
Exchange today, $50 shares selling
at %, new high for the year. Gas
IS preferred moved at 106.
The strength in these stocks may
have been partially due to the fact
that the Washington Gas Light rate
increase, just granted by the courts,
means an increase of about 100000
annually in operating revenues.
Capital Transit also was strong in
today's market, 40 shares moving
at 81.
Heard IN FINANCIAL D1StrlCt.
H. T. Bisselle, vice president of
the Riggs National Bank, is on va
cation at Ocean City, N. j. Also on
his vacation is B. G. Dent, an as
sistant vice president.
For the first time in As years, the
National Association of Retail Drug
gists will omit the annual conven-
Nj w ESvaNYy$iyya
mittee announced in Chicago today.
The step is taken to reduce rail
transportation.
The Norfolk g. Western Railroad
earned S722 on common in the first
half year, against 1924 last year.
Southern Railway earned S757 on
common in the same period, against
S754 year ago.
HI fl