Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-07-14
FINANCIAL CONDITIONS
HERE ARE ENCOURAGING
Investments Increasing in Volume
Particularly True in Building
Operations.
Trading on Local Stock Exchange
Light-Securities Strong All
Along Line.

Financial and business condition:
locally are said by leaders in the finan
cial world of the capital to be gaining
strength steadily. Money is easier ane
Investments are growing. AS an eNl
dence of this fact. the large increase IT
the building permits issued for June. as
compared to May and also as compared
to June of last year. We're pointed 10
The permits last month reached an az
gregate of s1,142,4s.. In May OF TINS
year the permits aggregated S9s-,oo'
and in June of last year. s942 3%o-
Trading on the local stock eNcnanSe
today was light as compared with the
activity displayed yesterday. Follow
ing the big day in bonds of local pun
lie utilities corporations. two sales q
Washington Gas per cent bondS were
made, one of $4,000 and the other OF
$4,000 at los. the price recorded -or
those securities yesterday.
All the securities were steady anu
prices firm. though the trading amount,
ed to little. Ten shares of Washington
point higher than the final sale yester-
day A few odd shares of Capital
Traction sold at 90 and eight shares OF
Washington Railway and Electric pre-
ferIed sold at SS1c. one-quarter lower
than the last sale of that stock.
There was a little trading in bank
stocks Ten shares of the Commercial
National Bank sold at 192. and nVe
shares of the Farmers ard Mechanics
Bank sold at $50
A. F. Fox Heads Insurance Company
Al the annual stockholders meeting
of the National Union Insurance Com
pany of Washington Monday the fol-
lowing were elected members of the
board of directors: Albert +. Fox,
Charles &. Bailey, Thomas Bradley,
Floyd E. Davis, W. T. Galliher, Philip
T. Larner. John B. iarner. W. S. Pratt.
Jr: b. F. Saul, George Spransy and j.
Z. Weldon.
The board subsequently organized
and elected the following officers: Al
bert F.. Fox, president: Charles b.
Bailey, vice president; Philip F. Larner.
secretary, and William H. Somervell,
assistant secretary.
The condition of the United States
Treasury at the opening of business
today was:
Net balance in general fund, s14.5o4,,-
AIS; total receipts, s2,91S.l63' total
payments, S3.194,I01.
The deficit this fiscal year is s1O,6s4,
2S1. against surplus of sl0.1l9,isS
last year. exclusive of Panama canal
and public debt transactions.
Steel Has Bright Outlook.
That the United states Steel Cor
poration has made ample provisions
Tor depreciation OF its vast chaln OF
properties. says the Wall Street Jour
nal. and has not been backward IN
undermining plants and increasing ca
pacity. is evident from the fact that its
depreciation and sinking fund charges,
ordinary repairs and appropriations
from earnings for construction since
organization. aggregate total OF
more than S1.OoO,Uoo.0Uo.
From the same source IL is learned
that new business of the United States
Steel Corporation for the last three
weeks has been coming in at the rate
of nearly 1000 tons day. This is the
highest since the Improvement began.
In January new business was at the
rate of less than 10000 tons a day. In
February, March. April and May new
business was around 10000 tons day.
81 In June il averaged close to 10000 tons
and in July in excess of $1,000 tons a
day. New business of the Steel Corpor-
alton is averaging between 10000 and
$4,000 tons per day in excess of output.