Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-08-27
LITTLE LIFE IN MARKET
FOR LOCAL SECURITIES
Capital Traction Weak. With Sales
to 8714-Lanston and Graphic
phone Common Stronger.
Rumors of War Orders-Small
Weeks Record on Exchange.
Steel Mills Rushed-Notes.
BY I. A. FLEMING.

BY I. A. FLEMING.
4 quotation lot of Capital Traction
stock sold on the exchange this after
noon at S7l4. the low point on this
movement In all, ninety-seven shares
have sold on the last five sessions OF
the exchange, i'll various odd lots. and
on a declining scale from SSl: to 81 Il.
Not a transaction in Washington
Railway and Electric common has been
reported during the week, but the bid
price was advanced yesterday. but with
slight reaction today. Railway pre-
ferred showed on the record today with
FIVE two-share lots at So. making ten
shares the weeks record. and lnolcat-
ing as strongly as possible the COM
Dlete neglect of these shares. at least
for the time being.
The feature of the session was a littie
letter demand for Lanston at 80 -
and rs, and also for Graphophone com
mon at 81, marking an advance u
seven points on the latter for the week
These two stocks are known as penn
in the war group, but without SUM
cient facts made public to warrant
statements as to the amounts
The aggregate trading for the week
andad with todav's session showed but
$1,000 bonds gold and 29d shares VI
stocks. ,o
Comment was made some days ago
aueut a movement on the part of bank.
ers purchasing for the employment OF
surplus. funds. bonds in othe rmarkets
by reason of the more favorapie pIaoo eI
than now current on hlgh-sraoe 10,
bonds. This has been evidenced by
reduced hond business on the exchange
Diversion of Traffic.
II is estimated that the st. Paul RAIL
road Company has lost one miiilon ooA-
lars in the last fiscal year through the
diversion of traffic from rail TO the
Panama canal route. Northern faeinc
claims about 100000 loss through the
same cause Railroad men believe that
they will suffer more heavily tnrousil
the loss of traffic to the canal route, on.
see an offset by gain to the rails Oh
business that has been going by water.
through a readjustment of rates TO meet
canal competition. This adjustment IS
expected to increase rail shipments OF
iron steel, wire and wire nails from
central manufacturing industries TO the
far northwest for consumption
Most of the traffic that the canal has
taken from the rails has been of heavy
commodities moving west at low rates.
looked upon as good traffic because Of
the normal movement of empty cars
west.
Silk shipments are still by train, and
the transport to the east is satisfactory
of the railway magnates.
Financial Notes.
Youngstown steel mills are being
operated to full capacity. This is the
story everywhere, maximum produc-
ton.
Chesapeake and Ohio. reporting for
the third week in August, showed a
gain in gross earnings of s90.53o and
for the fiscal year to that date, an in
crease OF 1851, 5s5. Colorado Southern
for the same week gained $14,762 in
gross earnings and the Monon route.
S1,543.
Seats on the New York Stock Ex-
change sold at $4,000. an increase of
$1,000 on the last previous transaction.
Bank clearings are showing some in
creases. New York showed an increase
in the clearings yesterday OF $1eo,o3! T.
O19, as compared with the correspond
ing day a year ago. The atmosphere OF
the business world was very blue at
that time.
Members of the New York Stock Ex-
change have voted to close the ex-
change Saturday preceding Labor day
1t is up to the governors to take dnal
action in the matter.
The Iron Age says that there nave
been numerous advances in steel prices,
citing open hearth steel 81 a ton high
er and dollar-a-ton gains in steel bars,
tank plates. sheared steel, steel hopps,
shapes, bars, etc
The American Gas and Electric Com
pany, controlling gas, electric light and
power companies in seventy-four com
rnunities, in six states. serving popuia-
ton of $4,000, reports an increase IN
gross earnings for the fiscal year ended
June 80, 1915, of s534.521. as compared
with the gross earnings for the previous
fiscal year.
In Los Angeles, the home of the jitney.
there were 1855 licenses to operate De-
A. there
were but 1S6 jitney licenses in force
Charles G.. Dawes, former controller of
the currency. and now president or the
Central Trust Company of Chicago. in ad-
dressing insurance men at Detroit arr ed
against overexpansion and speculation,
and spoke earnestly on needed amend
ment to the federal reserve act restricting
deposits OF Treasury funds in regional
banks.
Condition of Treasury.
The condition of the United States
Treasury at the close of business yes
terday was:
Net balance in general fund, s54.501,-
or.
Total receipts, s1.737.o04.
Total pa ynents, S2.200.3i5.
The deficit this fiscal year is $685.
a9S against deficit of S13,023,554 last
year, exclusive of Panama canal and
public debt transactions.
Wool Market Steady, Business Light
BOSTON, August 27.-The CONNER
cial Bulletin of Boston will say tomor-
row: whether or not the possibility
of again being able to import cross
bred woods from England has caused
buyers to refrain from buying as much
as they otherwise would have done is
not at all certain, but there has been
less business in the local market than
there was a week ago. OF the 100000
pounds estimated to have been sold.
the greater part was in foreign wool.
Prices have shown no apprecia BILE
change one way or the other, the mar
ket being generally steady. The mills
are fairly we'll engaged at the moment.
Aivices from the west indicate little