The Washington herald., 1912-12-15
BY 1. 4. FLEMING.

trend until near the middle of the sec
ond hour, when there was an increased
movement The bears. detecting sell
ing here and there, jumped on the list
and in the last fifteen minutes the bulk
of the declines we're sustained.
During the first hour but s5,4Oo
shares sold and in the last hoU IT,
600, making a total OF @-V'OVO loi the
short session.
The news of the entire session was
nnimportant save for the advance IN
sterling exchange Of 20 points, whlch
stops gold importations at this time.
Much of the covering movement in
the last day or two has been Tor the
credit of very large shorts, and with
nothinp 70 encourage movement on the
bull side, these traders and other bears
again took the bear side late in sat
lIrday's session, and they found the en-
tire list ready and apparently easily IN
fuenced in the direction OF lower
prices.
While the changes were not espe-
CiaIly serious, they were general ana
averaged nearly ;, of a point on all
the active leaders. Is on Union racine
Is, on Reading. the weakest in the list.
due entirely TO the fact that the street
is expecting an adverse decision on inc
coal case on Monday-if not, on some
Monday.
In their raid on the lisr the bears
were counting on Monday ADVANCING
thcir cause through possibly one ad-
verse corporation decision by the Su-
preme Court and perhaps two.
Mich comment is heard on the street
anent the trend of investigation by the
Puio committee into the so-called
money trust" The claim is made that
the committee Is not seeking unbiased
information, but adverse intormatloh-
fn
In selecting an attorney the commit
tee took a man thoroughly familiar with
every phase of the game-as much so
as Lawson? Why?
There are those who question the right
Of Congress to make laws governing as
so,iations Of business men in States.
Wool preferred. Texas Oil. and Car
Foundry surprised Jneir friends by stand
ing Up strongly in i weak market, MAX
ing liars gains. and doing it on linn
tied demand at that as neither stock
y'aS at all active.
Il : generally expected thai the Min
-icsota rate case will be passed on b.
ne Supreme Court on Monday. the state
~. Mt having already been made tina
the decision has been put in type for
the consideration OF Justice White.
President Mckee. of the District Bank
ers' Associa ton, disclaims any intention
On his part OF addressing the meeting
on any set subject on Monday night.
The address of the meeting Will be
made by Repre- Sc ntative \. F. Lever OF
South Carolina. author of the Lever ag
riCuItural extension bill. and one OF the
hest posted OF tne agricultural commit
tee on matters pertaining 20 the work
or the farm.
In securing Mr.. Lever the association
is TO be congratulated i'll that he is capa-
hIc of filling the void created by the in
ability OF Secretary Wilson 10 be pres
ent and speak on the subject assigned.
At the meeting on Monday night at
the New Willard. nearly all the banks
VII be represented by directors in addi-
lion 10 the regular membership. the di-
rrrtors Of the various banks having
been invited to attend this session.
An elaborate buffet supper will be
served
The Austrian governments Az per cent
treasury notes are being offered to Wash
inEton investors by local bond houses
Of this issue. S12.JO0,0C0 mature January
l. 1914. and like amount January l, 1915.
Bonds are of $1,000 and 5000 denOmina-
ton. ana interest is payable semi
annually, January and July, in New York
City.
They are being offered for sale at 81 3-4.
with an adjustment of interest to date of
payment. Payment is to be made in in
Stalments. - per cent tomorrow. . per
cent January -, 1873 and 20 per cent Feb
rUary ,. 1913 Payment in full may be
made tomorrow. These notes are free
from all Austrian taxes.
One of the hest stories of the day is 60
ing the rounds of the financial world.
One of the rich but easy-gOing men of
New York was chided by his fiancee and
urged to DO something; at least buy a
seat on the Stock Exchange
Calling at the exchange he made in
Quiry as to price of seats and found that
$500 was about right
My. but they are high. but that's all
right I am game. Give me two in the
third row for Thursday night"
Seats will be cheaper before long If the
trust busting and continual harassing
continues
Congress will do nothing in the way
. of enacunS a utilities bill until after the
Foliday IcCess when the matter will come
up.
Utilities will be accomplished in time,
with the approval OF the commission, not
otherwise.
Utility commissions have come to he
necessity in the interest of the people
ard of all concerned. Every one has a
right to be protected. the public, CAPT
tslists. promoters, and the interests of
the city. The record of utility commits
slUns is a record of square treatment and
promoters have come to understand that
il is useless to advance propositions that
nre not on the square where commissions
rule.
II is always easier for a city to govern
rs utilities when one set of men are en-
tiTely responsible to a commission for the
workings of their property
Utilities in Washington need a utilities
commission TO obtain for themselves the
advantage Of square deal
Without a commission there isn't much
chance of the Washington Utilities Com
pany going much further than they have
in the line Of concentration. With a
commission the field is TO prove less ag-
Sressive in its opposition.
The National Savings & Trust Com
pany has Just reason to be groud of its |
long and honorable record. On January
J. 1894 it had SIZE depositors, January l, |
1893. 1880: January !. 1904 22,2S4: jan
u1ry l. 1903, s. 100; December !. 1911, So
El5 and December !. 1872 80 967
During its career it has paid to de-
pCsitors 81. sol, $50 in interest, has re-
ceived in all over its counters from de- |
posters SlS6, 926. $3.50. 1t has returned
317g, SIG, l61.1s.
This does not mean that the bank has