Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-11-07
FINANCIAL-LOCALA AND OTHERWISE.


the gossip Of the tipsters. and made much
profits
Bethlehem Steel was the first Of the
war brides" to reach a price that was
too high for speculation, and was only
pushed 100 points further through the
Matching of scheme which was wished
on Charles NJ. Schwab and turned down
Then other specialties. Baldwin Loco
motive, studebaker, Allis-Chalmers.
Crucible Steel and other stocks, were
taken in hand on the theory that any old
stock could be doomed, and sharp adj
vances made.
Faith has lost its power on the street
1t will ever be possible to do SO on Wall
street.
Spectators do not believe tales Of
superimposed profts-they have seen
nothing that justified these reports, and
where the facts have been made public
the exaggerated profits are missing.
The result has been a reaction and a
steady selling movement in the war
shares during the entire week and for
important declines.
The rails have been given advances on
excellent September earnings, more than
anything else, and as a means of divert
ing speculation and lessening the danger
that might attend collapse of the war
order business.
It is extremely difficult to detect the
slightest futter Of the wings Of the dove
OF peace in tho European situation, and
yet the ruInors are so persistent in their
the end OF the great conflict near at hand.
Rumors OF this character are aiding in
stopping speculative trading, especially in
war stocks. Activity in steel and in all
capacity, and these stocks should become
real favor1tes In the next speculation on
the street Traders may follow this lead.
| but they will Scarcely turn to tho rails
ar nR Nr NvA.
On the Local Bourse.
The week has been attended with the
best signs Of activity in the washington
stock market in many days, and 1t is a
welcome sight
Washington investors have been doing
large business for some weeks. but they
| have been choosing municipal bonds,
high-grade rail issues. some high
grade rails and other investment Sc
| curities to the neglect OF local oppor-
tunities.
A week or 30 ago they began to nibbIe
on the local market, and picking here
and there. and for several days there has
| been really good buying of the utility
stocks and bonds Prices for all issues
show a steady tone. and the movement
should show an increase in the immedi-
ate future.
Demand Tor Dollar Bills.
"The present remarkable demand for
subsidiary coin and small bills is an
infallible index Of good business"
This is the opinion OF D. w. Harring-
ton, chief of the accounting division OF
the office of the treasurer of the United
States.
Not in three years, he says, has there
| been a similar seasonable demand for
subsidiary coin and small bills, al
( though the fall of the year always pre-
sents the necessity in some measure.
The record for this October exceeds that
OF many. many previous years. The Of
fce of the treasurer, at this time, is
, absolutely unable to meet the demand
for one-dollar bills.
The demand began in August. Since
August ! there has been put out the
enormous value of $47.93o,051 in cur
fency from one-cent piece to a five
dollar bill In that time, the subtreas-
uries had been provided with s14.664.-
900 in one-dollar certificates, ss,45s, 1000
In two-dollar certificates. $4,000, 900
IN nve-dollar silver certificates and
S2,720,000 in 1ve-dollar United States
notes Subsidiary coins have been dis
silver half dollars, quarters and dimes.
and $1.11s.1s1 in nickels and copper
cents.
which Is an unprecedented and ex-
and subsidiary coin in circulation"
comments Treasurer John Burke.
Even this large amount of small cur
rency and subsidiary coin does not sup
ply the demand. The United States
Treasury has been unable to supply the
demand for one-dollar bills"
Henry Clews on Future,
AS for the future of tho mark.+"
says the veteran. Henry Clews. "the
outlook Is exceedingly promising, aside
from the war groups. which have largely
not fully discounted their exaeger
rated and sometimes precarious profits.
American railroads and American in
oustrials are now enjoying we'll
earned turn Of prosperity after a nro-
longed period Of painful adyerstty Az
already shown. this change is based
upon sound conditions At the start
the war was a powerful stimulus. but
It's full eject has probably been reach
ea. ana even should the war soon cease
.ne impetus at home from big harvests
impaired Some day we shall have to
remobiiize our business affairs on a
peace basis. when exports and imports
WIN return to more normal proper
measurable distance.
FINANCIAL conditions are gnerally
satisfactory. Credit Is sound: ioanable
funds are abundant; rates are easy:
gold imports since January / amount
to over $325,000. 900; our banking re-
sources are S424,o00.O00 higher than
any previous record: the Investment
demand 10 good. and In spite of enor-
allies. there are still avilable vast sums
NOUS credits and note issues to the
for investment purposes Bond sales
In October were nearly s1oo. 200. 900.
Speculation has definitely turned to the
railroads and better class Of indus
trials, which are making larger profits
| and whose dividend capacities are con-
seauently being materially strength
ened. Additions to the dividend payers
list are being made almost daily. Thus
far the advance in the railroads has
been amply justified and apparently
| has not yet reached it's climax One
| moro satisfactory indication OF re-
viv1ng enterprise is the larger number
of new charters reported In October.
These amounted to $3.50, 900, 900 In the
principal eastern cities compared with
$70,000,000 in the same period a year
| ago. After all history is simply re-
peating itself in that all great wars
are accompanied by rising prices and