The Washington herald., 1911-11-04
FINANCE And REALTY

The third large day of the week for
the local stock exchange fell yesterday.
Both stock and bond issues proved popu-
lar, and there was some little speculative
buying.
Capital Traction warrants, selling again
at 9, and Gas stock ranging between
S7N and s71k. led the market. With re-
gard to the other issues, while the trad
ing was diversified, there was no heavy
liquidation. Railway common continued
to show strength and registered another
advance, selling at 451z in two transac-
tions.
Advice to Postal Savers.
The Post-oflce Department yesterday
issued instructions to depositors as to
how to turn their deposits into United
States bonds, paying 2sA per cent interest
a year, half Of per cent more than
the ordinary postal deposit interest. Ev-
cry depositor in the postal savings banks
in any post-office where repositories
have been opened, may exchange the
whole or a part of his deposits January
l, 1872, for bonds, which will be regis
tered or OF the coupon variety, as the
depositor wishes, and which will be is
sued in denominations of $40, 800, and
$500. The 2h per cent interest is pay
able every six months. Applications for
the conversion of deposits into bonds on
January l must be received December
Is, 1911, at the depository where the GER
tificates were issued. Postal savings de-
posits converted into bonds are not
counted as a part of the maximum of
$500 allowed one depositor, and there is
no limit to the amount Of available pos
tai savings bonds that may be acquired
by a depositor. The bonds will be IS
but they may be sold or assigned to any
one.
Washington in New "Trust."
A and 10 cent store trust, in which
Washington will play some part, is next
on the big business programme, ac-
cording to advices from New York. F. W.
Woolworth, VINO has two and 10 cent
stores In this city, at s2s Pennsylvania
avenue and 4OS Seventh street northwest,
yesterday announced that a new corpora
tion is about to be formed under the
name of F. W. woolworth G. Co, to take
over the business of F. w. Woolworth
& Co., Of New York; 8. H. Knox & Co.,
Buffalo; F. NJ. Kirby & Co., Wilkesbarre,
Pa; The E. H. Charlton Company, Fall
River, Mass; c. S. Woolworth, Scranton,
Pa; W. H. Moore, Watertown, N Y,
and w H. Moore & Son, Schenectady,
N. Y, also a controlling interest in the
English business Of F. W. Woolworth &
Co., Ltd. This new company will own
and control over 800 s and 10 cent stores
doing business in Canada, in. England,
and in the United States. The capital of
the new company will be s15,OOO,OOO. per
cent preferred stock and $50 OOO, 900 COM
mon stock.
Goldman, Sachs & Co., and Lehman
Brothers, Of New York, and KleInwort
Sons & Co, Of London, will be the fiscal
agents Of the new company, It is said.
New Members Elected.
The following new members were elect
I'd at a meeting of the membership COM
nittee Of the Board Of Trade yesterday
Afternoon: Thomas E. Edmonston,
Charles P. Ravenburg, Edwin E. Elicit,
Pinckney ]. Harman, Ogle r. Singleton.
Francis B. Watkins, Oscar P. Schmidt.
Andrew o. Hutterly, James G. Traylor. !
William A. Foster, George B. Fraser, |
Ieorge e. Ayton, George NJ. Belts, and |
Harry F. Lowe
For HiEh-pressure Water Service.
Recommending a high-pressure water |
ervice for the downtown section of the
ity and more motor engines and hose |
arts for the suburban districts the re- |
'ort Of the insurance committee Of the |
Board Of Trade was yesterday forwarded |
o the president, Gen. George H. Harries. |