Evening star., 1915-09-17
LILLE INTEREST SHOWN
IN LOCAL SECURITIES
Lower Prices Induce Some Buying,
But Orders Are Soon Filled.
Traction Sold at SO.
Western Bankers Will Move Crops
With Their Own Funds, Which
Are Plentiful.
BY I. A. FLEMING.

Capital Traction stock sold in quota :
ton lots the local stock exchange
today at Sc, fifty-four shares in all. and
after this business had been recorded
the stock was offered at $50. with S5 IS
the closing bid. Washington Railway
and Electric shares. common and pre-
1
se.e. were entirely neglected. the bid
p,t1o being S51s for the former and 81
foT the latter.
In ALL $4,000 face value Potomac Elec-
trio Power Consolidated 5s were traded
in at 1o0h, a fractional Improvement
Business for the week ending today
and 3s1 shares of stock, of which 25o
shares We're of Railway and Electric
common at 50.
Lower prices seem to tempt little
buying. but the few orders placed are
soon filled, and stagnation is in evil
dence from day to day
Investment buying by banks has been
shifted from the local high-grade
maintained here. TO New York and the
offerings of bond brokers. with more
opportunities for turning proht. as
bonds are generally low at this time
West Will Move Crops.
The banks of the middle west and the
northwest will readily be able to at
tend to the crop moving this year.
probably for the first time in their his
tory. and without appealing to the east
for assistance.
This fact was very generally under
stood some time ago in financial cir
cles. and has just been announced Of
ficaIly by agents of the regional banks
of the federal reserve system at Kan
sas City and Minneapolis. This in re-
ply to queries from Secretary McAdoo
to the need of assistance in the form
of government deposits.
John II. Rich, federal reserve agent
at Minnea polls, in his reply to the Sec
retary of the Treasury's letter. said
in part: What proportion of our own
resources We shall be bile to employ,
] regret to say. is still something of
question with us. and there would seem
to be no purpose in requesting the de-
posits of larger amounts by the gov
ernment until there is sufficient de-
T,and upon us to indicate the approach
of a period when such aid can be prof
itably employed.
Asa Z. Ramsey at Kansas City re-
piled: Il do not anticipate we will need
the assistance of the government this
season our district has been full of
money. SO to speak. and while the de-
mand is increasing now, l do not think
it will reach the point where We will
be unable to handle it with our own
resources.
This is in direct line with the exist
ing financial conditions all over the
greater part of the country. Legitimate
commercial demand for funds has been
at very low point, and bankers, espe-
cially in central reserve cities, have
been carrying large amounts of idle
funds. while bankers in this section
and throughout the east. west and
middle west have found themselves
obliged to seek investments in order to
bring up their earning power and keep
their funds better employed.
manufacturing concerns making mu-
nitions and other supplies for the al
lies. the one great productive indus
trial activity of the nation, have been
large borrowers. but the usual mer-
camille. manufacturing and commercial
inquiry has been light
UnqueStiona bly, the war has been re-
sponsible for part of the prevailing
dul1ness. bringing about an inability to
engage in foreign trade with the usual
economy.
Financial Notes.
Charles w. Harkness has been elected
a director of the Baltimore and Ohio
Railroad Company. succeeding to the
vacancy caused by the death of Norman
T. Ream. The board has approved plans
Tor the erection of a coal pier at Bal
timore to cost s1.4Oo.O0o
The Boston Regional Bank has been
authorized to make a 33s per cent rate
gwen per cent rate on commercial
paper of ten or ninety days maturity
and per cent rate on commodity
paper and acceptances.
Reading earned 1880 per cent on it's
common stock for the fiscal wear ended
with June 20. The gross revenue Of
the system was i7.22i, 900 as compa red
viii sac 10000 for the year 1914.