Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-08-16
LANSTON MONOTYPE
MAKES HIGH RECORD
Good Buying of the Local War
Shares at 79 to 781a-0ther
Stocks Slow.
Studebaker's Great Earnings-Low
Price of Exchange May Force
New English Loan-Notes.
BY I. A. FLEMING.

Lanston Monotype shares sold today
t. IS and 79i. the highest pont reach
ed on the advance movement of 1919.
In al fifty shares sold in lots. and the
buying demand was OF the kind that
ou!d have absorbed larger offerings
had they been offered The asking
rr;ce was 50 on the official closing. and
the sales were made after the call
The stories that are heard on the street
nave much reference to the activity OF
the English branch office in the manu-
lecture OF munitions and good earn
ings of the home plant.
, few shares of Washington Gas sold
~ - Investors continue to accumu-
lltc this stock. being we'll satisfied
with the dividend yield.
Director Elected.
rector of the Home Savings Bank at
recent meeting of the board
Studebaker's Big Earnings.
Studebakcr was the favorite semi
war stock on Wall street this morning.
Indeed there wasn't much of anything
doing in any of the old line shares;
just war stocks, and those might De
classed as combined peace and war
;tocks.
Studebaker common rose from close
at soy saturday to an opening at lo-is
and then to 1897. with partial reactlor.
Here is the cause: StuGeoaker net
earnings for the first six months OF
the year were about S6."OO,OOo Inc
second half of the year is counted on
to produce better results ana TO leaFe'
after the payment OF preferred diSi-
bends calling for 100000, over SlO,0ou.-
0eO-probably about 40 per cent on the
common stock.
General Motors was up points.
Some of the GosSiperS on the street
are specializing on the earnings of the
motor manufacturers in years past
when prices for automobiles were sew
craI hundred dollars higher than they
are at this time.
All war stocks were higher. Bethle-
hem Steel common was points, Allis-
Chalmers > points and the steel ana
ron shares also better. Can was rs
higher The old line rails were slow.
so special trading in anything.
May Force an English Loan.
The position of foreign exchange is
likely to force the British government
to establish another loan in this coun-
try. The recent shipment of gold has
had no effect whatever on the market.
which today made Il new low point at
S4.G7 for pounds, while francs were
also weak and lower.
AS against "a trade balance OF $1,000
900 for the past year and the pros
poets of another S1,00O,0O0,000 that the
allies are creating the S54.O00.0o0 gold
and securities received last week con-
signed to J. p. Morgan, furnished but
a drop in the bucket.
one plan contemplated to steady for
eign exchange is advanced by A. r.
Marsh, former president of the Cotton
Exchange Bank, who advocates the
"a 10 nf n 81
Ionds by the British government which
Re admits would be new departure in
nancing by the British, but the ad-
-antages might he pressed home with
efficient force to make the issue de-
able.
II the manufa cturers of the United
tates are to supply munitions at the
esent pace, big loan Will have to
made.
\ bond issue would be appreciated by
american investors who have little
knowledge of English consols and
i.ench renteS
Last fall sterling exchange rose to
81 on the pound, premium of over 81.
the latter being below par by this
amount plus another American shilling.
The tide has turned. American dol
lars are at a premium of about 20 cents
On the pound-the English pound is
below par on this side of the Atlantic
10y this sum.
Financial Notes.
The anthracite coal miners are now
formulating some thirty demands from
the operators. Recognition of union is
first demand. Heretofore the opera
tors have refused recognition of the
union.
Anthracite coal has been exported to
Canada to the amount of 3,269,000 tons
TO May 81, 1915, covering a period of
eleven months.
Vice President Worthington of the
Southern Pacific has just issued in
pamphlet form q statement of the pro-
portions of railroad earnings expended
III 1914. Total gross earnings were So
047, ?,90S-of all railroads operating
i'll Nthe United States. All operating
expenses except wages, SS26, S9O,6s7, and
rlxes. $l40,331,5IJ. which left $2.079.-