Evening star., 1948-12-30
D. {. Securities Score
Sharp 1948 Advances
On Counter Market
By Edword c. Stone

Capital securities sold over the
counter registered some sharp gains
during the year, the advances being
headed by Barber g. Ross common
up from so to 100; District National
Securities preferred. 80 to 81: Lin
coin Service common, 22la to 80, and
Merchants Transfer preferred, III
to 1T.
Consolidated Title Co. common
ended the year at 80, up 5 points;
D. C. Paper Mills common moved
from Ia to 81, Federal Storage
common, Seaboard Finance pre-
ferred, Grifiths Consolidated pre-
ferred and common, were among
other issues changed very little in
the IL months.
Bids for bank stocks disclosed
few changes, survey reveals, al
though quotations on some of these
shares worked lower Bank stocks
sold over the counter include Ana
costa National, City Bank. Bank
of Silver Spring, Hamilton National,
Security Savings e. Commercial,
Munsey Trust. National Metropol-
itan, Industrial and Suburban Ma
tional
District Theaters, Mayflower Ho-
tel common and Washington Prop
critics were among counter" stocks
carrying lower bids at the year end.
Bonds were little changed, Racquet
Club IS lost ground, dropping from
rs to a bid of 49, Trading volume
in these unlisted securities has been
about the same as in 1947. dealers
said today.
Lower Food Costs Forecast.
Farms and factories will produce
as much food in l949 as in the rec
ord year 1948, and consumers prob
ably will pay less for it. John A.
Hartford. president OF the Great
Atlantic e. Pacific Tea Co, pre-
dicted today. Food prices have de-
clined steadily since July, he said.
In a forecast from headquarters
of the Atlantic division, Baltimore
Mr. Hartford cited two major de-
fiationary factors in the food price
picture: Continued high production
and soft" markets; fewer con-
sumner food dollars and greater
competition for them.
once again we have entered a
period when the purse as we'll as the
appetite will determine what tood
and how much of it people will buy.
he said. More and more consumer
dollars are going into payments 1or
houses. automobiles. televlslon sets
and other things. and fewer dollars
are available for food. This means
that 1949 will see keener competi-
ton for the consumers food dollar" ;"
Demand Deposits Decline.
Christmas requirements for funds
were one reason for drop of Sl5,-
74l.O0O in demand deposits in Wash
ington banks during the week ended
December %, the Richmond Reserve
Bank reported today. Time deposits
were off slightly
Commercial loans were up ST ,082,-
900. with real estate loans practically
unchanged. Reserves with the Fed
eral Reserve Bank were substantially
higher. Total assets declined.
Hugh Fulton. Washington and
New York LAWYER. has been ap-
pointed general counsel for the Hud-
son & Manhattan Railroad Co.. it
was announced today. From 1888
to 1941 he served as special assistant
to the Attorney General and for the
next three years was chief counsel
and head of the Truman Senate
Committee.
More than s3.300.OOO.O0o of life
insurance funds went into the
financing of real estate mortgages
during 194S. new record, and up
$500 900 900 from 1947. the Institute
of Life Insurance reported today.