The Washington herald., 1913-04-05
NOTWITHSTANDING r-C COMMERCE

have been refused by = the controlling
political factors
Although Greene has not operated ita
smelter for about week. the New York
management was only advised to this
effect last Monday owing to delays in
both mail and kilograms
Selection of Investments.
A. B. Leach & Co., 149 Broadway, New
York, are distributing to those interested
complimentary copies of booklet ell
titled 1.-THE Selection of. Investments .
which indicates briefly and clearly the
different characteristics of government,
municipal, railroad, public utility and
industrial bonds, and in a general way
indicates the purposes for which they
are purchased by different classes of
investors such as national banks, savings
banks. insurance companies. savings
banks. trustees and individual investors.
A Candidates.
+. B. Devereaux, one of the active
members of the Washington Chapter.
American Institute Of Banking, is out
in the open as candidate for president
of the chapter at the next election. 1t
is extremely doubtful if his candidacy
will be opposed. as he is very popular
with the young bank men of the city.
DIS Wfll DIS III bdltlInOTe dnu elSeWHeTc.
MI Devereaux is a careful statis-
tician, good general bank man, a
student. and good fellow. 1t is under
stood that Mr.. Devereaux. who is on
the staff of the National Sayings and
Trust Company. has some ambitious
plans for the chapter In the event OF
his being chosen to leadership.
viii Yield G.I2k Per Cent.
Splitter, Rorick & Co. are Offering
S2,350,000 Eastern Power and Light
Corporation per cent convertible gold
bonds at a price to yield SIS per cent.
These bonds are a first lien, through
the deposit of all the bonds and prac-
tically all the stock of five public util-
ity properties located in Vermont, New
Hampshire, and Indiana, and are lien
through lease and stock ownership on
two additional public utility properties
in Pennsylvania and West Virginia.
The total population served is more
than 100000 The net and surplus
earnings applicable to the convertible
bond issue, as audited for the year
1912, were more than three times the
total interest requirements.
New York Bonds.
Spencer, Trask & Co.. in their April
circular. have this to say on the New
York bond market for March:
The stringency in money undoubt-
eddy brought in its wake the calling
of loans and the outpouring of seouri-
ties, with the result that values as
whole reached a low point, comparable
only with some OF those shown during
the panic of 1907. Toward the latter
part of the month. however, a moder-
ate reaction in sentiment occurred,
with more or less general recoveries
and a much smaller volume of offerings
of securities for immediate sale. There
was, as is usual under conditions such
as have been referred to, a quiet alb
sorption of good bonds at low levels,
and to a perhaps less marked amount,
some good investment buying in the
higher grade investment stocks. The
trend however, in this direction was
not sufficiently marked to Indicate
of the upward movement
or to provide insurance against an
other wave of liquidation, but well-in-
formed authorities seem to be OF the
opinion that the tide has undoubtedly
turned. and that while the uncertainty
as to the exact extent of the Hood
damage has yet to be determined,
values may be expected to recover
some of the lost ground
Need n Few Choo-choos.
The Seaboard Air Line is in need of
10, 900 tons of steel rails, and the Balti-
more and Ohio has made inquiry for
5 900 tons The Lehigh Valley Railroad
Company is in the market for twenty
six locomotives of Mikado type, and
the New York Central Railroad is max
ing inquiries for 100 locomotives.