The Washington times., 1912-12-19
BOND PRICES SAG
ON LOCAL 'CHANGE
AND TRADING DRAGS
Banks Are Beginning to
Think Of Holiday Gifts
To Employees.

Bond Issues composed the bulk Of
small volume Of trading on the WASH
inEton Stock Exchange today. and
prices were soft. Five $1,000 lots Of
Capital Traction SIS were sold ut l09ssis,
quarter less than the last sale. and
The same reduction In price was seen
In the sale Of $500 OF Potomac Elec.
trio 1st SIS.
The only other trading consisted of
oae S per cent .; g. e9"pSn n,bsnSi SSnd
ton Gas at SAN, and ten shares of Com
mercial National Bank stock at 2o7.
This 10 the season when the financial
district begins to get definite word Of
what the Christmas stockings are to
mold. While no official announcements
have been made. 1t is certain that the
number Of banks that will remember
before.
The presents distributed In the flnan-
clal district are usually so satisfactory
tnat anticipation serves to stimulate
ber.
IT has been a prosperous year for the
banks and trust companies, and II Is
certain that they will be as liberal as In
former years.
This has been lean one for broker
age houses. and It is expected that the
bonuses given to clerks working for
brokers' will not be so large as those
q last year.
The sale OF 100 shares Of the WASH
1nGton. Baltimore and Annapolis Elec-
trio Railroad Company at 37h. In the
Baltimore Stock Exchange dealings yes
terday. drew attention to this security
ana the position Of the stock as divi-
a few months ago the initial dividend
OF IN per cent was paid on the prefer
price from around 80 to near IS. but
the shares sagged back to 33 when the
dividend came on. Yesterdays price Is
even higher than the stock sold carry
possible Increase in the dividend at the
spring period. While these were not
confirmed. Il was said that the earn
inEs fully Justify the increase.
The future OF the company Is said to
be promising. and it's recent past good
earnings statements are expected to
continue. The management is.introduc.
Ing some economies In operation which
VIII 70 to swell the net results for the
next six months. The stock was bid
Tor at 37h. but none was Offered after
this lot came out.
H. H. Mckee was elected president Of
the Washington Association Of Credit
Men when that organisation was per-
ASSScu a. ItS Hucctiuk 81 tuc SudulUeT
Of Commerce last night. The other offi-
GERS were elected as scheduled. as fol-
lows:
"A. J. May. vice president. and Thomas
Grant, secretary-treasuser. and the fol-
lowing as directors: +. b. Adams. L. f.
Valentine, 8. J. Henry. Carl Mueller.
r. A. walker b. B. Earnshaw, w. T..
Galliher. Fl. T. Offterdnger. John Pool
and 8. c. Redman.
The following committees were ap-
pointed: Membership-George w. White.
J. 8. Schiel. NJ. +. Horton. G. b. Hook
er. F.. W. White; credit department and
mercantile agency-Clarence Corson.
John Brewer, John Dugan, w. G. Car
ter. NJ. F. Flynn: legislation-Joshua
Evans,tr.; Howard Reside. r. N. Harp
er, J. w. Hunt. F.. w. Buckler; arbitra-
tion-B. r. Earnshaw. w. T. Galliher.
A. w. Wright: special membership
John Poole. G. ". Warden. J. Maury
Dove. jr.: A. J. May: r. b., Adams: ex-
ecutive committee-H. II. Mckee. A. ].
May. p. B. Earnshaw. w. T. Galliher.
3. J. Henry.
The new association Is affiliated with
the National Assoc ciation Of Credit Men.