The Washington herald., 1913-04-17
QUIET MARKET,
Steady VAULES
Only Activity in Petroleum
and Reading Shares
Important Changes.
LOCAL STOCKS STEADY
Interesting Bank Statishes-No Action
on Tax-Money Question-Wal
Street Gossip.
LOCAL STOCKS STEADY
Nv I. A. FLEMING.


By I. A. FLEMING.
Yesterday was a 10000 share day on
Wall Street an average OF A,4W snares
an hour. But even this small average
did not represent the dizziness, because
there have been slow days when there
vas SUFFICIENT action here and there
throughout the list to make up Tor 'ne
limited volume of trading.
Room traders accustomed to the tale
of the ticker i'm all the moods or the
market were more than dlsgusteo'
There was little opportunity to turn d
penny on either side of the trade, the
bears news predominated. not only actu-
aIIy. hut in yelled and open threats. The
sherman law was to be made more op-
era tive i'm sections that have not been
made effective heretofore; the work TO
he pushed; new stock and bond issues
were announced again, and up IN Con-
necticut a string of banks presided over
by one Jerome were closed
Again the predominating sentiment on
the street was bearish. The one bright
SPOT was foreign buying, and renewal
of the hope that Europe would soon be-
hold in the immediate vicinity the dove
of peace.
All things considered. the market gave
a good account of itself that II held as
well as il did. The predominance or
hear sentiment Is so evident that the
hears themselves hesitate to set the
pace-it looks too onesided to be wise
movement But they appear to be so
sure of their position that they make
little effort TO cover their short con-
tracts
Petroleum stock Strong.
And exception was made yesterday In
AL OF ES nr0f1tS
shorts in California and Mexican Pc
troleum have pyrimided TO satisfactory
proportions, and the covering was In
the nature of profit-taking, and under
this buying both stocks rose two points
Strength was also shown Consolidated
Gas, Guggenheim Opportunities, western
Union, and Reading: indeed the latter
was about the only one of the old group
of leaders wherein there was an ma
terial action A q rise was made.
Weakness developed generally in nom
active stocks. except Smelling, II point
off: Great Northern Ore, j point, and
SIoss-Sheffield with . points loss.
Immediately after the opening the gem
eral list eased off and then gradually
came back to nominal changes Union
Pacific was 5-S off at the low and small
fraction better than Tuesdays final at
the close. Covering in Chesapeake and
4
held.
Ii is a searching waiting market seek
ing a direction. with the trend generally
i'm the direction of lower figures.
Unclaimed Deposits.
There is a bill now i'm the House pro-
viding for the revertal to the govern
mcnt of unclaimed deposits after a GER
tain period of years.
The Illinois State Senate is considering
demanding the forfeiture to the State OF
deposits, owners of which cannot be To-
Gated
Commenting on this matter, F. r. FL
lott treasurer OF the Harris Trust and
Savings Banks, told the investigating
committee of lawmakers that the banks
were more entitled TO the unclaimed
funds than the State or the government.
He said:
III a creditor doesn't put in his claim
inside of five years in regular business
routine his account is outlawed. Why
should banks be treated differently? 1
don't see why a bank should not be al
lowed TO take the money left on its books
untouched after a required period Of
years"
Washington Securities, 1913.
Washington Securities 1873 compend-
ium of information covering all local cor
pora tons listed on the local stock eX-
change. edited and published by Eugene
+. Thompson is ready for delivery to-
day.
No more complete analysis of local Sc
curities and the corporations issuing them
has ever been made public. 1t contains
high and low prices on all stocks and
bonds covering a long period of years,
maps Of the various traction lines, state
ments of earnings, of capitalization, bond
ed debt. dividends, periods for payment,
and number of remarkable tables show
ing among other things book values Of
hank stocks at each call from June z
1911 to February 4, 1913, together with
statement of condition of reporting
institutions to calls by the Comptroller
of the Currency between the dates
named. inclusive.
There are many other interesting fea-
lures
The statements of the trust companies
of the District, published elsewhere Oh
this page, is a page from the book, re-
produced by permission of Mr.. Thomp-
son, the work being copyrighted.
Local Stocks.
Modest investment buying still con-
tinues in local securities, nothing urgent
but sufficient to keep prices strong. The
w
s. 1-2. A little Railway preferred sold
at 81 rs, a slight betterment. An odd
lot of Traction brought 122 1-2. while
quotation lots were held quite firmly. No
Railway common pressing to sale and in
siders apparently doing nothing to dis
lodge holdings. Mergenthaler, 21S 1-2.
1t was really bond day with Gas IS,
selling at los SIS, Traction IS, at ITO, and
City and Suburban IS, 101 "a.
National Bank of Washington, 240;
American Security and Trust, 3o5
Postponed.
Action in the matter of depositing in
local national banks tax moneys was
postponed from yesterday afternoon I'M
til this morning. Assistant Secretary
Williams having been Unexpectedly call
ed from the city.
Appointed Examiner.
Joseph l.. Kennedy, of Burnside, KY,
has been appointed national bank ex-
aminer.
Mr. Kennedy is thirty-si years of age.
For a time he was employed in the
Bank of Jonesboro, Arkansas, and for
the past eighteen years has acted as
bookkeeper and cashier Of various cor
porations. At the time Of his appoint
ment he was the cashier and manager
OF the Burnside CKy) branch of the
Aver and Lord Tie Company.
Rank Failure.
The Comptroller is advised that the
First National Bank Of Norwich. Conn.,,
has closed its doors by order of the