Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-10-20
LITTLE INTEREST SHOWN
IN LOCAL SECURITIES
War Stocks Neglected and Only Few
Investment Orders Were Exc
r cuted-Utilities Nominal.
Junior Bank Officers Start Educa
tional Course-Gold Imports and
Easy Money Market.
Ell. A. FLEMING.

Apparently interest in Washington
stocks and bonds is at low ebb Oc-
casionally squirt of activity suggests
that the investing public is returning
again to the old-tine favorites, but SO
far, at least, these spurts have resulted
in nothing more than to accentuate the
dulIness the next day and the day
after.
Washington has had it's war stocks.
Mergenthalef and Lanston have gone
back until there are sellers at 1s7 and
Lanston is offered at So Graphophone
alone holds materially better than the
prevailing prices few weeks ago, but
traders are SO far apart that there
seems little probability of getting
transactions on the record The COM
mon stock is held at ia with 1859
bid. with the same bid price for the
preferred, with asking figure of lis.
Utilities were not mentioned in the
trading today other than ten shares of
Washington Gas at T2A and Railway As
At S1a.. Indeed, the only other transact
tions made were ten shares of Ameri
ca Security and Trust at 261 and like
amount point higher.
Capital Traction, 81 bid and SIS
asked; Railway common, SO bid and 81
asked, while the preferred was quoted
at 8: bid and SO asked.
Educational Course.
Tomorrow evening the Washington
Chapter. American Institute of Bank
ing, will inaugurate the educational
course of 1915. Dan Thew Wright, for
merly on the District bench, will de-
liver the first three lectures. Com
mercial Law and Negotiable Instru-
ments'' will form the subject of the
lecures- The chapter rooms are at 1914
F street. and the meeting is open to
all corners.
Clearing House Association.
The executive committee of the Wash
fngton Clearing House Association will
hold regular meeting this afternoon.
Routine business will be considered
Cuno II. Rudolph of the Second Ma
tional Bank is the president of this or
ganiZation.
Financial Notes.
"A seat on the New York Stock Ex-
change sold yesterday for $4,000 The
last previous sale was at $4,000.
The arrival of S25,0OOO 600 gold from
London had no effect on the exchange
market. other than a slightly easier
feeling.
Reports are to the effect that the
dividend is to be restored on American
Locomotive
Pittsburgh is busy on full time. and
some overtime is being made Orders
are very largely on supplies for the
entente allies.
The Wall Street Journal estimates
that the new Anglo-British bonds will
be worth about lily in five years, at
which time peace will have been
eliminated
The Ford Motor Company of Canada
dend.
With the gold received from Halifax
yesterday the total shipments via that
route have reached ss5.000,ooo From
January ! to date, gold imports to tie
United States from all points have
.00O. 08O.
1t is reported that quite number Of
banks are Directing to retainin,, tine
proceeds of the Anglo-Frencn loan in
their vaults. paying therefor percent.
II is indicative of the abundance of
money and the inability 10 employ 1t
to advantage when bankers will not
pay per cent on these proceeds. but
are renting money to J. j.. Morgan
& Co. to pay for the bonds.
With all the Industrial activity IN
steel and other industrial plants, TIE
Improvement has not extended to con-
mercial walks with anything like the
usual degree of freedom Bankers are
today supplying their institutions with
short-term notes and high-grade bonds
for the employment of funds. and find
commercial paper scarce even at az
per cent as the high rate for four. to
six months time.
In Washington money il in large
supply and per cent is tie r1ling
rate on desirable paper.
New York syndicate. headed by
Lee. Higginson & Co. and the Guaranty
Trust Company. is offering today the
first Italian war loan in the United
States. s25,ooo.ooo 6 per cent convert
ible gold notes. par for par. which
when matured will be convextible into
ten-year 81 per cent gold bombs. Since
the beginning of the European strug-
gle Italy placed one loan of s193.000.-
900 Az per cent at home at 81, and
like amount in 1915 at 50, subscribers
to the first loan having the right to
purchase the second issue at SO.
Rock Island may require $50 a share
assessment for rehabilitation.