Evening star., 1915-09-10
TRACTION STOCK WEAK;
NO LIFE IN MARKET
Lanston Neglected With 70 Bid and
81 Asked-Railway Preferred
-. Sold at 81-Bonds Slow.
Treasury Department to Withdraw
Government Funds. From
National Banks.
BY I. A. FLEMING.

BY I, A. FLEMING.
Two public utility stocks attracted
some attention at the session of the
local exchange. Capital Traction at 81,
which was a slight price recession. and
Railway preferred at 81. Moreover, the
bid price for the former issue was low
cred in the official quotations to Sc.
Lanston was neglected, 70 bid and 81
asked.
Washington Railway and Electric 4
per cent bonds sold at 81 u.
Transactions for the week which end
ed with today's session we're o46 shares
of stock and ss.4OO bonds. Lanston,
Railway preferred and Capital Traction
furnished the bulk of the stock bust
ness, in the order named. Railway 4S
were the only active bonds.
Personal.
Richard f. Claughton. member OF
the stock exchange, returned to the city
toGay, after three months spent in travel
ing through Alaska and the northwest
Graphophone Workers Strike.
Two thousand employees of the Ameri-
can Graphophone Company went out on
4 strike yesterday at Bridgeport, Conn
Their demands were for an eight-hour
day, 20 per cent increase in wages, time
and one-half for overtime and recogni-
tion of their grievance committee.
The company at once offered an eight
hour day and to pay the overtime
schedule desired, but refused the other
demands.
The graphophone company is pot en-
gagged in making munitions, but is de-
cidedly busy on records and graphic
phones. so that a stoppage of activities
at this time may be serious matter.
Many Washingtonians are investors
in the stocks of the American GRAPHIC
phone Company.
Reserve Banks to Get the Cash.
1t is the intention of the Secretary Of
the Treasury to make another draft
against the government deposits now
in national banks, and within sixty to
ninety day intervals repeat the opera
tion until such time the govern
ment's cash shall be in the various re-
gional banks.
Heretofore in making deposits with
national banks the Secretary has based
deposits on the capital stock and de-
posits of national banks.
The present intention is to place the
cash in the twelve regional instttu-
tions, based on the volume of business
transacted by the various regionals.
This ought to give the reserve bank at
Richmond a large part of the deposits.
as it Is one of the busiest of the twelve.
With all the government funds at
their command. presumably without in
terest, the regional banks should be
able to make money for their share
holders. while the Treasury Department
will lose considerable income through
the loss of interest heretofore paid by
the national banks on Treasury funds.
Ruling on Acceptances.
Extension of the regulation of the
federal reserve board affecting bank
ers acceptances, after prolonged and
careful consideration, Is made by the
federal reserve board in Regulations
R." superseding Regulations j." is
sued today. - -
The new regulations especially pro-
vide-that bill or bankers-acceptanee
must not be renewed after the goods
have been surrendered to the pur-
chaser or consignee. except for such
reasonable period as may have been
agreed upon at the time of the opening
of the credit as a condition incidental
to the importation or expectation in
volved. provided that the bill must not
contain or be subject to any condition
whereby the holder thereof is obligated
to renew the same at maturity.
Also. 1t is provided that acceptances
must have been made by "a member
bank, a non-nember bank, trust COM
pany, or by some hrm. person. COM
pany or corporation engaged in the
business of accepting or discounting"
Such acceptances are to be recognized
a. bankers acceptances.
To Establish Fiscal Agencies.
The Braden Copper Company and
Chile Copper Company announce that
they will establish financial agencies
in Valparaiso. Chile. The properties Of
the two corporations are several hun
dred miles distant from Valparaiso. the
commercial center of Chile, and 1t has
been found advisable to- centralize
their financial affairs in said city.
1t IL expected that the financial agen-
ctes will contribute considerably to the
development of dollar exchange in