The Washington times., 1913-08-27

LOCAL EXCHANGE IS.
OULL.FEW TRANSFERS
Energy Mostly Expended in
Keeping Listed Securities.
Railway Pfd. at 88 IL.

With prices remaining practically un-
changed. and but few recorded sales
made during the day, the session OF the
Washington Stock Exchange was void of
anything that would indicate a return
of the activity which characterized yes
terday's meeting.
There was but little bidding on the
| exchange and fewer sales The average
crowd of brokers was present, but these
appeared to have but few orders to exc
cute, and when this was finished, de-
clined to enter into any extensive buy
| ing or selling.
| A midsummer apathy prevailed. Most
of the energy was expended in keep
! ing the listed securities at existing ig-
ures This accomplished, the market
| closed.
There was a single share of Railway
| preferred on the books of the exchange.
marked sold that going at SS1E Five
| shares of Mergenthaler brought III. de-
| spite efforts of several days standing
| to purchase that stock at a lower rate.
Eight shares of Washington Gas sold at
| S414, the prevailing figure of weeks.
| No other sales were recorded.
Exactly when the distribution of the
the Treasury McAdoo, which represents
! Washington'g share of the $4,000. 800
| Crop-moving fund, will be made, has
lot been determined. 1t IS more than
! likely that a part of II, at least, Will
| be put out This week.
The total amount allotted to date is
Si6 10000, of which $24, 10000 goes TO
| the banks ir fourteen Western States
! and 2l,Soo, 900 tC this thirteen southern
! States and the District of Columbia.
! J. Selwin TAFT, of the washington
| Southern Bank will represent the Gov
| ernment in the distribution. Five other
| Washington bankers will be with him
| on the board which will pass upon all
securities, these to be members of the
| Clearing House Association. Secretary
| McAdoO has announced, that the ac-
! ceptance of any paper for securities Tor
| money advanced shall carry with IL the
unanimous Endorsement of all six men,
bers of the board.
In a statement announcing the ap-
portionment, Secretary McAdoo says:
The funds are deposited in the banks
! in the West and South at this time, be-
cause it is believed that there is a spe-
cial demand for the money to assist in
| the marketing of the crops which are
now being harvested in these particular
| sections but If in the East or elsewhere
| it should be shown that there is need
| for the temporary use Of funds for SINH
lar legitimate purposes, the Government
will be quite as ready to extend similar
aid"
In each depository city the Govern
ment has chosen a special representative
! who will serve in conjunction with a
clearing house committee of five to pass
on all commercial paper recommended
as security for deposits, and all paper
before being accepted must be unani-
mously recommended by this committee.
The Southern States, designated as
[ repositories. and the amounts they
Alabama. 800, 900; Birmingham. E.
NJ Tutwiller; Mobile. Albert Bush {;
Montgomery, w. A. Gayle. Arkansas,
$6OO.OuO; Little Rock, w. NJ. Kava-
naugh. Florida, $1,150.000; Jackson
Tampa. Georgia 100000; Atlanta.
W. X. Orr, Savannah, ]. Randolph
Anderson; Augusta, William H. Bar
rett; aeon. William II. FELTON,, jr.
Kentucky. $3.50. 600. Lexington, J. E.
Cassidy, Louisville. Louisiana, $2,-
QUO, 900; New Orleans, w. T Hardie.
Shreveport. Maryland. SZ,S00, 900: Bal
timore. William c. Page. Mississippi,
$500. 900: jackson, w. Q. Cole; Mer-
iGian. H. Wright; Vicksburg, p. NJ.
Harding. North Carolina, $500. 900. .
Charlotte. L. +. Preston; Greensboro.
r. r. King; Wilmington. Hugh Nc
Rae; Raleigh, Charles E. Johnson.
South Carolina, sl,5O0,OOO; Charleston.
Mayor Henry Schachte: Columbia
William H. Lyles; Greenville, Henry
| ". Briggs; Spartanburg. Augustus W.
Smith Tennessee, 1880, 900: Chat
tanooga, ". F Kalb; Knoxville, Sam
uel B. Luttrell: Memphis. Samuel p
| Read: Nashville, Joseph II. Thompson
/ Texas. $2,j0G,000; Dallas, Alexander
Sanger; Fort Worth, Houston. Gal
weston, |. II. kempner, San Antonio
Financial America today says:
President Wilson is not to be swayed
by the attitude of the Chicago bankers
conference into abating in the least the
Governments control of the currency
plan. He thinks that the conference
represented the position Of certain bank
u ing interests, which. in his opinion. is
not indOrsed by the rank and file of
banking and business interests through
! out the country He thinks the bill will
go through Congress practically in its
present form.
Farm loans will be among the i'm
| pOrtant subjects to be discussed at
the fifth national conservation con-
| gress to be held here November IS,
| - and 2J Rural credits, 1t Is main
tanned will be one of the big ques-
| items OF the near future. and the
| country should be ready TO meet 1t
when il is asked.