Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-06-04
BOND SALES FEATURE.
ON LOCAL EXCHANGE
Railway and Electric Is Leaders in
Activity at Session
Today.

Trading in bonds was the feature Of
the local exchange today. During the
session $4,000 of bonds changed hands.
Washington Railway and Electric As
were the biggest sellers, one broker
buying $4,000 of these bonds. For
5000 he paid seq and the remainder
was bought at s2S. At the close the
bid was s2A and the asking price 50.
1t became known today that a syndi-
cate composed of Hambleton & Co. and
the Fidelity Trust Company of Balti-
more has purchased the S1.000.000
Washington Railway and Electric 4
per cent bonds the issuance of which
recently was authorized by the public
utilities commission. The money from
the sale of the bonds is to be used to
retire 100000 Columbia railway first
mortgage per cent bonds and 100000
Columbia railway second mortgage 5
per cent bonds, which mature October l
next. 1t Is reported that the purchasers
of the $1.000.00O of the bonds recently
issued are offering them at Ssk and
interest and that about one-half of the
issue has been sold.
There was a fair demand for Potomac
Electric consolidated per cent bonds,
81, 600 selling at 99A. The bid for more
was a.'4s. and the asking price. 1914.
common sold ten shares at 871a. Wash
ington Gas stock sold again at 10 for
fifty shares, and ten shares brought an
eighth higher.
In the bank list ten shares of CONNER
cial National sold at 1870 and five shares
of Federal National brought 1875.
National banks and trust companies of
the District. which have Joined the fed
eral reserve system. nave received bal
lots with which to vote for the electors
who are to select the directors Of the
district reserve bank at Richmond. The
banks will vote for the electors as soon
as authorization is received from their
respective boards of directors.
At the ninth annual meeting OF stock
Bank yesterday Lewis Flemer, DE-. w:
P. c. Hazen, George F. Hardin. Richard
Kingsman. Michael A. Lynch. Morris F.
NARROW, Henry H. Mckee, Joseph II.
w. Smith, A. 7. Stuart. samue. H: Walk
er, Michael 1. Weller and John c. Yost
were elected directors.
The present offlcers-Michael 1. Weller.
president; Samuel H. Walker and John c.
Yost. vice presidents: Charles A. Nc
Carthy. OBSERVATION-DISCLOSURES. and Walter
H. Marrow. jr., attorney-probably will be
reelected at the regular meeting Of the
directors Tuesday, it is stated.
Representative Cooke of Ohio was ad-
vised by the Treasury Department to-
day that as a result of the requirement
that banks pay 2 per cent interest on
all government deposits, S1,426,713 had
been added to the Treasury receipts
during the first year Of the require
ment, which expired June l. Mr. Cooke
was a member of the House committee
that investigated the question of re-
curing this interest during the last
Congress.
Once again the failure record for the
United States discloses progressive i'm
provement, commercial defaults during
May. as reported to f. G. Dun & Co.,
making the best exhibit of the year
from numerical standpoint, and also
showing some contraction as compared
with the corresponding period of 1913.
Thus. there were 1921 business re-
verses last month. as against 1896 in
April. 1.464 in March. 1906 in February
and 1857 in January, while in May, q
year ago. 1926 concerns were forced to
suspend.
All of the decrease from 1913 was con-
fined to the trading class, in which the
losses numbered 1913 in comparison with
SSS: manufacturing insolvencies, on the
other hand. were slightly larger-322
against 313-and among agents, brokers
and firms of similar character there
were no less than sixty-six failures, or
twenty-one more than last year, In re-
spect to the Indebtedness involved. the
total was abain above normal. $23. a.. 400,
considerably exceeding the $16 s63. sO4 re-
ported in May, 1913. and also being the
highest amount shown in the present
year. with the single exception of Janu-
airy.