The Washington herald., 1913-09-07

3 to 30 points during the current year.
local securities have been acting splen-
didly.
Over $1,000 shares of stock have been
traded in. With the exception Of the
aftermath Of the recent Gas fizzle, when
Gas shares to 50 in a jiffy and back 10
IA, there have been no serious losses
on the list. Liquidation of a big block
of Capital Traction took 10 points cff
from the market value. but the merit
and the dividends~remain. Lanston has
lost considerably-lS points from the
high-but it also has merit back Of it.
Local bank stocks have been firm.
Over A.000000 value of bonds have
changed hands with a variation Of but
a few points at the most.
1t has been an excellent test of a mar
ket that has stood all previous tests
excelently.
1t also means that when the capitalists
of that section of Washington known
today as 'shut-up town return, they
will be seeking investments for the un-
interest returns for the last three
months.
Wall street Market.
Yesterdays New York stock market
featured a few stocks, to the neglect of
the general list. Frank A. Vanderlip's
widely circulated address on the needs
OF the work of developing electricity,
row in its infancy, had positive effect
or copper stocks. Steel Gas under pres
sure in London during Fridays session,
but here il managed to move up on Sat
urday in sympathy with equipment
stocks all of which are sure to benefit
from the demand for better equipments,
steel cars, &c.
Nevada Copper, and Texas Copper all
added 1alE points Guggenheim OppOr-
tunities added two points.
Reading and Union Pacific were the
favOrites with the traders in rails, and
both sold up q. closing on the top. The
rail list as a rule did not show much
Improvement. Louisville showed a point
advance Cotton on was strong, being
marked up rs. probably on short crop.
In the last few minutes the list was
quite active, but it was only an SO,OC0
share day.
A Legitimate Lottery.
= First drawing of the United States |
Steel second collateral trust ) per cent
bends for the sinkinIE + fund was difficult
proposition. There are approximately |
SlS7.0OU.OOO of these bonds outstanding. !
and the drawing had to be made by lot !
from the total amount.
\ wheel, such as generally used, was
not large enough to hold the lS7,OOO num- |
bers in this case. a barrel had TO be |
pressed into service The numbers, each !
printed on separate slips, were placed |
IT. this barrel and the drawing made |
from it.
The numbers drawn out were de- |
strOyed, and the barrel with the remain |
ing numbers placed in safe keeping await |
ing the next drawing. This will take !
place in February. when over Sl,6OO,OO0 !
bonds will be drawn for redemption on I
May l. 1914 Hereafter the annual call |
will be made on May I.
The bottom of the barrel will be |
reached in about thirty-seven years. or |
by 1850 which means that all the bonds |
will be redeemed by the sinking fund |
at 10. thirteen years before the ma
turity of the issue.
Bonds to Secure Circulation.
National banks of the country. 7.ISS in
all hold $T55, $50 of government bonds |
TO secure circulation. They are carrying
these bonds at $G,6OOOOO premium when .
they could not be sold at par.
These banks have q capital. surplus.
and undivided profits of over s. 20, 900, ,OOJ
and have in their charge individual de- 1
POsits of S, ,761, 100000.