Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-09-24
BUT.[|M|TED TRADING
IN LOCAL SECURITIES
Lanston stezdy Around so SIS, With
4 Sale at S1-Utility Shares
Were Entirely Neglected.
Rumors of Steel Consultations Made
and Denied-Wan Street Believes
Big Loan Is Assured Success.
BY I. A. FLEMING.

BY I. A. FLEMING.
The only feature to the local stock
market was the decline of a fraction
in the price of Potomac Electric 5s to
100. and a moderate demand for Lam
ston Monotype shares at 81 Tor the
opening to SOS for close
But limited volume of business~was
transacted in the aggregate. s2.ooo
bonds par value and 5a0shares OF stock.
A little better prices were bid TOT Tue
public utility shares. but no transact
lions were reported.
For the week ended with todays ses-
siof, the sales have been $2l.Oo0 bonos
par value and sos shares of stock. oono
trade being distributed about evenly
between six issues. while LanSton anu
CAPITAL Traction were the leaders III
the stock list.
This is the last day for closing OF the
xtncl<- exchange for the week. on Fri
day until next July. 1t is the usual
custom to close the exchange ai'er
FRIDAYS session each week IN July, Au-
gust and September. There viii De no
Session tomorrow. but next Saturday
the exchange will hold it's regular call.
The Big Loan.
IL is generally admitted that the ne
cotiatons regarding the Angio-Franco
lean have practically been concluded ana
that but few details remain to be SET
tied. The amount is believed to be
100000, 900, with a satisfactory commits
sion to the underwriters, Russia not par
cipatng.
Wall street hesitated yesterday after
noon when there were reports or hitch'
and prices were lower but the tone this
morning and the general advances seemed
tot indicate that the end of the nesptia-
tons were in sight
Moreover. Indications of the prosperity
to follow In the west, where idle cars are
increasing. despite the season and the
harvests. are discernible.
Low Rates for the South.
The Atlanta regional bank of the fed
eral reserve system has been given the
right to rediscount sixty to ninety day
raper at per cent and trade acceptances
up to sixty days at 81. per cent.
These are low rates for the Atlantic
section and should enable the bankers
there to accord splendid treatment and
assistance to the merchants and others.
Financial Notes.
Persistent reiteration of a report that
there is to be consolidation of Mid
vale Steel, CrucibIe Steel and perhaps
one other minor company with the
Bethlehem Steel Company brings just as
persistent and reiterated denials.
1t is stated that the plans of the d.
rectors of the Camden Steel Company
include moderate sized stock dividend
in the near future!
The Studebaker Company is said to
have scheduled $4,000 orders for 1916
delivery, 5000 being for cars for ex-
port Gross earnings for this year are
estimated. at $50 .000. 900. as compared
with 1000. 600 in 1914.
z. H. Gary. chairman Of the board OF
directors of the United States Steel
Corporation. declares that the steel
business is at high tide and that the
outlook is encouraging.
The annual convention of the Farm
Mortgage Bankers Association will be
held at 81. Louis October Z and S.
Bank clearings in New York yester-
day increased s203.563.205: in Chicago.
over 312.000.0O0: in Philadelphia. 81
100000: Boston. 100000. and st. Louis,
sc.459.O00. Comparisons are with a
year ago, when the business commu-
nifty was suffering with fear of happen
inas that did not materialize.
MAXWELL Motor Company reports for
the year ended June so net earnings.
after deducting advertising and all
other costs. of s2.331.950. an increase
over the net for the previous fiscal year
of $sO7.5o5.
Ontario and Western Railroad Com
pany, for the fiscal year ended June 80,
showed LOS per cent earnings in excess
Of all fixed charges. etc, equal to LOS
per cent on the stocks.
The du Pont Powder Company is con-
verting it's bonds into stock. offering
per cent preferred stock for per
cent bonds. Bethlehem Steel is expect
ed to wipe out it's bond debt the same
way. The increase of the Westinghouse
Electric dividend to per cent will lead
TO conversion of bonds
Condition of Treasury.
The condition. of the United States
Treasury at the close OF business yes
terday was:
Net balance in general fund, $4,000
81.
Total receipts. Sl,93!.23..
Total payments. s2.o42.1z,.
The deficit this fiscal year is s35,4S4,-
All, against deficit of s1S.0S1.35O last
Year. exclusive of Panama canal and
public debt transactions.