Evening star., 1943-07-07
Unlisted Securities
Make Good Showing
Here in First Half
Nv EDWARD C. STONE.

houses handling these issues. While
no records of aggregate sales are
kept, dealers report an active de.
mand for a majority of the unlisted
securities and the quotation list
reveals many substantial advances
in the six months.
Washington Properties Is scored 9
7 point advance, from 83l2 to 9Ok
Washington Auditorium IS were
strong, moving from 8412 to 86
Mayflower Hotel SIS. tn highest.
priced bonds in the list, climbed
from 13s to l43. The biggest bond
gain was registered by National
Press Building 4las which jumped
ID points to 53l4, while the bid OF
e42 for National Press Building
3-5s. on July l, was up flve full
points fIom the beginning OF the
year.
City Club 1st 6s ended the half
year with so bid; Consolidated Title
IS. 991a bid: D. C. Paper Mills IS,
ls%: Racquet Club 1st IS, 5312.
Bank Stocks Show Strength.
In the stock division several un-
listed bank stocks registered gooo
deal of strength. Anacostia Bank
stock jumped Sc points In the half
year from 100 to 210, by far the best
gain of any stock of any classiflca-
ton.
City Bank at 2012 showed little
change. Columbia National, at 164,
was unchanged, as was East Wash
inpton Savings Bank at Is. Ma
tional Metropolitan moved from 233
to $40: Second National, 58 to TO-;
Union Trust. 61ls to 1914 bid; while
the present bids of 165 for Security
Savings g. Commercial, 8712 Tor
Munsey Trust and 1414 for Subur-
ban National show little recent
change.
Barber & Ross issues failed to
make much progress in the half
year. The latest quotation for Mer-
chants Transfer & Storage pre-
ferred was go. compared with 20
earlier in the year before the COM
pany announced plan to take up
a portion of the preferred stock at
S65 q share.
w. r. & f. Units Most Active.
High priced issues in this list,
which have seen little change so far
this year, include Fidelity Storage
which carries a bid of 1l8, Griffith
Consumers Preferred at 104; Wash
ington Sanitary Housing, los;
American Co. Preferred, 81; Con-
solidated Title Preferred. 40l2: Ra-
leigh Hotel 80, and Washington
Sanitary Improvement. % bid.
Dealers say Washington Railway
Il Electric Units have been the
most active issue in the list. They
have recently moved up to IS bid
and l6ia asked These units OF
Washington Railway & Electric
stock were used at one time by the
North American Co. in the payment
of dividends on North American
Common, the purpose being to re-
duce holdings of w. r. & E. stock.
The wide interest in all these is
sues is in line with the broadening
OF investment activity everywhere in
the six months and the heavier
trading on the exchanges, dealers
said today.
Southern Rail Nets Higher.
Glass I railroads in the Southern
region in the first five months of
this year had an estimated net in
come. after interest and rentals. OF
$4,000, 900, compared with s45, ,l44,-
745 year ago.
The same roads had a net rail-
way operating income. before in
terest and rentals. of s95852 .37l,
against S73,623, ,495 a year ago, it was
reported here today,
Operating revenues totaled s543.-
so2,98o, an increase of 43,4 per cent.
compared with the same period of
1912. while operating expenses to-
tailed $301 All ,230, an increase OF
25.4 per cent above 1912.
Glass I railroads in the Southern
region for May alone had an estl-
mated net income, after interest
and rentals, of oo,0oo, COM
pared with s12 ,4O8 1899 in May, 1912.
Association Expenses Cut.
James Parker Nolan, Washington
investment dealer and treasurer OF
thu National Association of Securi-
ties. has reported to the board of
governors that total expenses OF
the aSsocia ton in the SIX months
ended in March were reduced 80
per cent under last year.
Mr.. Nolan added that unless ex-
traordinary expenses are incurred
in, the last half of the current year
the association will have operated
within its budget and at cost OF 30
per cent below expenditures OF the
1912 fiscal year.
Potomac Power Bonds Strong.
Potomac Electric Power 81. per
cent bonds appeared in the Wash
ineton Stock Exchange trading to-
dav for the first time this year,
81 900 changing hands at the strong
price of 1098..
Washington Gas IS preferred was
strong today, again selling at loo'
the high for the year. washington
Railway 81 Electric As came out on
a 81 900 turnover at l0384, OF =
from the last sale.
Penn-CentraI Stock Traded.
The common stock of the Pennsyl-
yania Central Airlines appeared on
the New York Stock Exchange yes
terday for the first after being
changed over from the curb. The
first sale was at 49,, new high
for 1943.
There are 4Sl.79O shares of the
common listed Penn-Central is list
ed as fifth largest of country's COM
mercial airlineS and this year cele-
brated it's 10th anniversary. AS
washington is the company's head
once, there is lot of interest in
the stock here.
district Trade Up l3 Per Cent.
The Federal Reserve Board an
noulaced today that department
store sales in the Richmond area
from January l through June 26
were l3 per cent better than year
aeoSs Dallas led the u Reserve dis
tricts with Al per cent gain. fol-
lowed by Kansas City with "a per
cent pickup. The average gain 1or
the d districts was IA per cert. ,
Washington will profit greatly IL