Evening star., 1915-09-30
INVESTMENT DEMAND
FOR LOCAL SECURITIES
Railway Common Was the Active
Leader, All Offerings Being
Taken at IS.
Traction Firmer-Reports of Good
Earnings for Mergenthaler.
The British-French Loan.
BY I. A! FLEMING.


tivity and strong tone in prices. while
some of the securities in which there
was no actual trading were very firm.
The largest volume of business was
in the common stock of the Washington
Railway and Electric Company, 200
shares selling at SIS, which has been
the bid price for many weeks, and con-
tfnued bidding at S5, seemed to indi-
cate that the floating supply had been
absorbed.
Capital Traction also showed a little
better strength, with sale at 50 1,
with Ss bid for quotation lots.
Mergenthaler was nominally higher,
the bid price being advanced points,
while the asking figure was also moved
up like amount. There are many ru-
mors of large earnings by the company
and information of reliable nature
indicates that the profits of the cor
poration have increased materially "A
bull movement in the stock at material
ly better figures is talked OF. Bios were
at 1873, offers a 1S6.
Lanston Monotype sold at 81, in all
so shares changing hands at that price.
Graphophone common was strong at
IS.
Bonds were slow with but one trans
action the sales Sneet, dS
Electric As at 81.
Purpose of Loan.
The National City Banks October
circular has this to say of the $780,
100000 loan:
THE purpose of this loan. so far as
American bankers are concerned, is the
protection and support of this country's
regular trade which is threatened by
the unsettled state of the foreign ex-
changes 1t has been apparent for
some time that something must be done
to create credits in the United States
against which our foreign customers
can draw in payment for their pur-
chases, or that the purchases must be
reduced. The war has thrown all in
ternational trade out of balance, and
created problems that could not arise
under normal conditions. This country
is accustomed to export a large volume
of products and its industries are ad-
justed to that state of affairs. The sit
uation which has been developing for
several months cannot be allowed to
drift without danger of an Interrupt
tion to export and a congestion of
products in the home market"
British-French Bonds.
numerous letters ana NOT q Ie" tele-
grams were received this morning by
Washington bankers suggesting sub
scriptions to the new s5O0.O00,00O Brit
ish-French loan.
Participation in the loan, while not
actually decided upon by local finan-
cial interests, is likely to be quite gen.
eral.
Bank officials generally consider the
loan high-grade and attractive, and the
rate of per cent, with slight addi-
tional concession, is about the highest
prevailing rate for discounts in this
market, where surplus funds are in
large supply.
Dividends.
The directors of the Riggs National
Bank have declared the regular semi
annual dividend of s13 per share, pay
able October Is, to shareholders of
record at the close of business today.
The National Metropolitan Bank will
Day the usual semi-annual dividend of
8 per cent October Is, to shareholders
Of record October ).
Low Rate for Northwest.
The federal reserve board has ap-
proved a 3 per cent rate for commod-
ity paper rediscounts made by the
Minneapolis regional bank.