The Washington times., 1913-08-08
F|RMER TONE ON
LOCAL STOCK MARKET
Gas Is Feature of Sales, With
Yesterdays Prices Prevail
ing At Close.

A firmer tone, with a tendency to
change a bit, in most instances to a
higher level, Indicative of better mar
ket for the coming week. was assumed
by stocks at today's session of the
Washington Stock Exchange. Although
the volume of sales was not very great,
business was better than yesterday.
This being the closing day for the week.
but little was expected of the market.
Gas stocks and bonds were the fea-
lures Of the trading. In the per cent
bonds of the washington Gas Light
Company, $1,000 changed hands at 106h.
which was but u below the asked price
at yesterdays close. The 1oS1z bid with
1O7 asked prices at yesterdays close
were the prevailing figures at the close
today.
There were thirty shares Of Gas stock
sold, at S4z. while the remainder was
Y of point less, On the close, this
stock dropped "A of a point, while the
asked price of s41z remained as yester-
day. On the after call, three additional
shares brought 81.
Mergenthaler came in for some consid-
Grafton, although no trading was en-
gagged In. Lanston, also OF the type
machine stock, was the center Of inter-
est for a time, and twenty-five shares
sold at 1914. The last preceding sale OF
this stock was at 79.
Capital Traction, three shares at u6,
and two of the $1,000 Potomac Consoli-
dated per cent bonds brought lOo.
This constituted the trading Of the day.
A noticeable change was that In KaIl-
way common, the last recorded sale OF
which brought 81 No trading was en-
gagged in this stock, although the bid
price of 81 and the asked price OF s211
of yesterday was changed to s1z and
sS, respectively, today.
William A. Mearns. of Lewis johnson
& Co., was on the exchange at today's
session for the first time In several
weeks.
The Government crop report for
which the financial world has awaited
for days, was issued at 2:15 o'clock this
afternoon.
Announcement was made that the Ma
tional Biscuit Company has declared its
regular quarterly divided Of IN per cent
on its preferred stock. payable August
30, to stockholders Of record on
August Is
From New York today came the re.
port to several Washington brokers that
1t Is doubtful that the arbitrators Sc
lected to choose the new associates on
the board appointed under the New
lands bill to arbitrate the differences
between the conductors and trainmen
will exercise their privilege. They have
until August 20 to select the two re-
naming members. after which the
board of mediation and conciliation In
Washington viii appoint at its leisure
80 ofra - he seatr <,fl L.
dered money instead Of new bills by the
Treasury Department, have been re-
ceived by the Comptroller of the Cur
rency from Baltimore bankers. 1t also
is stated that other financial men Of
the Monumental City have lodged SIM
liar protests with officials of the sub
treasury there. A letter has been re-
ceived by the Comptroller from Col.
Henry B. Wilcox, president Of the First
National Bank, OF Baltimore, in which
complaint is made of the washed notes
The method of furnishing washed notes
was adopted by the Government about a
year ago to save expense. Bankers con-
tend that the washed notes soon be-
come fiimsy and are easily worn which
Is an encouragement to the counterfeit
ers as the notes are so often mistaken
for the bogus ones by bank tellers and
others handling large sums Of money.
When they find out their mistake and
find the notes have been washed, they
thinking II to be a laundered one. More
over, as the notes can be washed but
once, and their life Is short after being
subjected to the chemical cleaning pro-
cess, many doubt II much is saved by
the policy.
1t makes more labor at the banks and
at the subtreasury. where all the notes
received are made up into three pack
ages, instead of two. as formerly. These
packages are marked Notes unfit for
use and to be redeemed" Notes suit
able for use" and Notes unfit for use,
but fit for laundry" Heretofore, 1t has
been necessary to take out the unfit
notes only and send them to Washing
ton to be destroyed. keeping the rest
for continued circulation.
BENJAMIN Woodruff president of the
Washington Stock Exchange, and one
of the best-known brokers in the Cap
ital, will leave the city this afternoon
for New Hampshire, where he will
spend his vacation with his family.
As an evidence Of appreciation of the
good work done by the agents for the
sociation since the establishment OF
the company's offices in this city, c.
M Wright, superintendent Of the Wash
lngton office, rendered a reception and
banquet to the members of his stan
at the New National Hotel last night
Although the company is the latest to
enter the field in Washington. having
been here only since last November. II
Is said to have made great progress.
Officers Of the association came from
the home office in Richmond. Va, on
a special train to attend the banquet.
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