Evening star., 1915-11-12
VERY QUIET MARKET
FOR LOCAL SECURITIES
No Particular Changes in Prices or
Quotations-Controller Of Cur
rency Seeks More Information.
Federal Reserve Board Answers
Clearing House Query-Lecture
on Commercial Law.
BY I. A. FLEMING.

BY I. A. FLEMING.
Business again slowed down on the
local stock exchange. Capital Traction
today attracted some little attention at
S3A. but it was the only utility in
which there was any trading worthy of
mention.
American Graphophone was really the
leader of the session. the common stock
selling at los and the preferred at 1121 y
and 113.
A few sales of bonds were recorded
at 105X for Washington Gas 5s. and
10o1a for Riggs Realty 5s, short term
maturity.
Controller Wants to Know.
Bankers anticipated call" from the
controller of the currency this morn
ing and do not look for its postpone
ment for more than day or two.
In the information furnished with the
reports in response to the next call,
several new questions will be answer
ed in addition to the numerous inqui-
ries replied to as of November 10
The controller now wants to know:
How many members of your board
constitute your executive or hnance
committee?
What plan, if any, have you by
w RlCn edCn ol Soul poaii u
take turns in serving on the aforesaid
committee?
Give the names of your present ex-
ecutive or finance committee and state
served continuously on this committee.
How often does this committee
meet?
Give the names of directors who
have been members of your board con-
tinuously during past five years, but
have not served on the executive or
finance committee in that period"
The controller of the currency also
asks for:
Total net earnings and profits (after
deducting all expenses and losses), div
idends paid and surplus earnings tafter
deducting div.dends) for each calendar
year 1912, 1913 and 1914.
The loans on improved farm lands
as defined in section "a of the federal
reserve act
Information is also desired as to low
est rate charged on any loan since the
last report twhether as interest, COM
mission or diScount.
A new ruling has also been made re-
Quiring the affidavits of the same dl-
rectors to the published statement as
signed the report sent to the controller
Heretofore the banks have been permit
ted to copy the names of directors for
the published report from the sworn
statement
Bankers are getting little peeved at
the amount of clerical work demanded.
and are wondering what the controller
will do with this great mass of new
information. Statistics to be gathered
in the next call cannot be tabulated in
time for Congress to receive the in
formation in the next report of the con-
troller.
Not Much Satisfaction.
The federal reserve board, in reply to
the queries advanced through the
Washington Clearing House Association.
relating to the operation of the Clay
ton act, made reply to President Ru-
dolph, quoting the decision of the board
as 1t appeared in the Journal of the
American Bankers Association
Bank officials. directors and en-
ployes, eligible to election January l,
1916, under the provisions of the act.
when effective may hold Office or
employment until the expiration of the
year for which they were elected 1t
is evident that bank officers, employees
and directors in cities of less than
100000 population cannot hold dual po-
sitions after October 16, 1915. when the
Clayton act becomes operative, but
may resign the 18th OF the month and
retire from position or office with more
than one bank.
Commercial Law.
commercial La" Will De the SUD-
1ect discussed in the next course of
lectures before the Washington Chap
ter of the A. |. 3. The first lecture
of the three. with J. Miller Kenyon as
the lecturer. will be delivered at the
chapter rooms at Sis this evening.
Condition of the Treasury.
The condition of the United States
Treasury at the close of business yes
terday was:
Net balance in general fund. sll2,718,-
233
Total receipts. s2.234.542.
Total payments. s3,952,116.
The deficit this fiscal year is s46,102.-
42S. against a deficit of s44,136. 539 last
year, exclusive of Panama canal and
public debt transactions.