The Washington times., 1911-06-25
IN LOCAL FINANCIAL CIRCLES
By I. A. FLEMING.

large investors. Moreover, that portion
of the public that selected bonds for
investment is not inclined to choose is
sues yielding less than per cent, not
at a time when high-grade railroad
bonds yielding to per cent can De
obtained without trouble.
On the local Stock Exchange there
considered safe and sane that yield
much better rates than the Govern
ment 8 per cents, and Washington
is not cheap city In the bond world
at that. Prices are higher here, reia-
lively, than elsewhere, because OF the
fact that our corporations are not sub
tect to the same influences, conditions,
depressions, strikes, etc, that prevail
outside of the National Capital.
Gas SIS, high-grade first mortgage :
bond. Yields $50 per cent; Capital Trac-
ton SIS, unquestioned as to security
and interest payment, yields 4.3o per
cent; three issues of Washington Market
5's, 4.45 to 4.95 per cent yield; Washing
ton Railway and Electric As. 80 per
cent; c. and P. Telephone SIS, 463; sub
sidiary companies, 40 to 410 per cent;
Potomac Electric SIS, As; the Consolt-
dated SIS, nearly per cent, and Ana
costa and Potomac River 5s, 46, prac-
tically all of these bonds selling above
par, So high are they held in this COM
munity.
3s should fail to prove inviting, save
with banks and bankers, where they
can be loaned at l per cent to nat1onal
banks as security to be deposited with
the Goyernment for deposits OF Govern
ment money.
Local securities have shown little ac-
tivity during the past week, nor Is the
outlook good for any improvement IN
the immediate future, as many lnTes-
tors have left the city for the summer
some important members OF the ex-
change and banking concerns following
suit.
The election OF Nathan B. Scott IA the
presidency Of the United States Trust
Company helped the stock of rhat cor
poration materially: A desire on MS
part to Increase his holdings very large
" may keep prices on the rise. Other
hank stocks are holding well, and most
of the leading stock issues, though dull.
| give no evidence Of weakness The
Boom in Washington Gas is apparently
ended. AS a dividend payer. as stated
time and again in this column, Gas
shares are worth all that they are
bringing. and perhaps more 9uageo n Dy
latfve proposition they offer little IN
ducement to the purchaser. A consery-
ative policy may save a larger percent-
age Of the gross earnings i,3.,dsns Tor sns net net
| than last year, when the dlVideno re-
ouirements came close to net.
! The typesetters are not attracting the
| attention that the did-in fact, the
whole market is lessening In volume OF
| trade, coming back to the guinness Oh
| the summer time.
There is talk of the National City
| Bank of New York City doubling Its
| capitalize ton. after declaring 80 per
| cent cash dividend. The stock Is now
SOS COO, 900: surplus, s34. 100000. and earn
| ing capacity, 30 per cent Commenting
| on its success, a financial paper says:
| Its operations everywhere are con-
Quoted with as much smoothness as Is
Standard Oil"
The latest statements showed S1s4.0oO,-
900 deposits The Continental-Comm
| cial. OF Chicago, is running the National
City a good race.