The Washington times., 1912-12-13
GAS ISSUES WEAK
ON LOCAL CHANGE
IN TRADING TO-DAY
Graphophone Common Also
Eases Of-Volume of
Business Not Large.

Washington Gas issues were weak on
the Washington STOCK Exchange today.
The per cent bonds. a $500 lot. sold at
lOsh. a quarter under yesterdays bid
and a full point under the asked price.
A quotation lot OF the stock sold at
s5ts. while the bid and asked yesterday
we're se,t@s7. w
0raphophone common today, the stock
being offered at the bid Of yesterday
and easing OF aSs,tes5,x aS,,, s,x 4 auSsas,epp Saaep
10 take two more lots. Thirty. shares Of
Washington Railway 4 Electric PREFER.
ed were brought. out for SSh. Potomac
Electric Consolidated 81 continued at
iSSh. LanSton was sold for @M. Only
$3.50 Of bonds and lA shares Of stock
were sold In the session.
The directors Of the Union Trust
Company have declared q quarterly dlvi.
Is, to stockholders OF record January !.
The books for the transfer OF stock
Will be closed from January 1 to "A.
'NGiuSVe.
The history and functions Of clearing
houses were described to the members
Of the WashlnRton Chapter. American
mss ss sssk"f %sss Sv "i t. 'nfF H. Mss MTsss
president Of the District Bankers AZ.
ISOLATION. Mr.. McKee.s address was AN
able and clear discussion of the subject.
y; Alexander Wolf sSurssl es Of IN the & Hank
the lecture next Thursdsy evening on
Savings Banks" Trust Companies"
will be the subject OF an adrcss after
holiday. by Corcoran Thorn. trust Of.
1cer OF the American Security and
Trust Company.
Francis q. Addison has been made as
sistant treasurer OF the Home Savings
Bank.
Another currency reform bill has been
introduced. by Congressman Levy OF
New York. The bill would permit banks
to issue circulating notes against assets
to the extent Of one-half Of their capital
bv requiring that one-half Of the issue
be maintained In gold coin as legal re-
serve.
also be required to deposit with banks
all redundant Government funds in the
Treasury IN excess OF s3O.Oo0.0O0 at In
terest to be fixed bv competitive bids"
Loans on real estate security would
be permitted by national banks to the
extent OF 10 per cent OF their capital
and surplus.
Keen interest Is being taken today by
merchants In the $3.50. j0.O00Christmas saw
ings fund distributed yesterday by the
United States Trust COMPANY. That
Christmas present buying by 1900 peo-
pla who have saved small sums during
tho year for the purpose. Three per cent
interest was paid on the savings. The
new fund will be commenced the day
after Christmas preparatory to the
holidays next year and 1t IL safe to
predict that the fund will be larger
and that there will be a larger list Of
merchants who will be willing to cash
the Christmas checks.
The exchange OF securities of the
washington Utilities Company for
those Of the Virginia Rail-
way Company il now being made upon
the basis previously announced, that is
each ten shares Of the Washing;on-vir-
ginia preferred to be exchanged for 500
OF the first refunding consolidated mort
gage per cent gold bonds and $50 Of
pany. The common stock Of the rail-
way company Is exchangeable ten
$50 Of the stock. W. -. Hobs & Co.
fiscal agents Of the utilities company.
exchange notification. There Is no time
limit imposed. ..'..
A bear raid on railroad stock is con-
Ink 10 the Wan Street Journal. The re:
port said that a pamphlet is to be issued
attaching the railroads In vigorous
style. II is planned to show. II Ia as.
serted, that 70 per cent OF the railroa ds
Of the United States are bankrupt. The
raid has been organized SO far that ad.
vertising and press notices have beer
prepared for number OF cities all over
the United states. the idea being to ere.
ate the Impression OF a nation wide self
ing movement. based upon complete
lack OF confidence In financial condi.
tions.
The railroad interests say that such q
campaign will only react on those start.
Ing It, an the general railI Dad situation
IL too closely under the scrutiny OF the
Interstate Commerce Commission t.
cause any loss OF general public con.
fidence. either In their management OF
atability