Evening star., 1915-09-13
LOCAL BOND ISSUES
ALL IN GOOD DEMAND
Potomac Electric Consolidated IS
and Railway 4s Favored by In
vestors-Stocks Slow.
Steel Corporations Earnings for
Third Quarter of Year Estimated
at $4,000, 900 Net.
BY I. A. FLEMING.

provement in the inquiry for the is
sues that were prominent. Potomac
Consolidated 5s and Railway 4s, two
issues that are selling on an even per
cent basis, and are generally considered
safe investments.
Potomac Consolidated 5s sold at 100.
and at the close at 10o1s. The Railway
AZ were sold at 81, with two $500 bonds
at s1A Two small bonds of the Nor
folk & Washington Steamboat Company
sold at 1855.
In the stock list there was very little
doing. Lanston, for some weeks a good
leader, was neglected, all buying for
the time being having subsided. The
asked price was 81 and the bid 70.
An odd lot of Railway preferred sold
at 81; one of Washington Gas at 701a,
and one of Merchants Transfer and
Storage at 800.
The bid price on Capital Traction
was reduced to Sc; on Railway COM
mon 81 was bid, and on the preferred
so was bid.
Steel Earnings Increasing.
Experts are basing third quarter net
earnings Of the United States Steel
Corporation at s3s,O00.o00 to s4o,oo0.o00,
on a 93 per cent capacity for July. Au-
gust and September.
Earnings in the first quarter of the
year were but s12,457,s0s; in the sec
ond quarter. s27,950,055. Daily ship
ments for the three months of the third
quarter are expected to average 1900
tons, which. at s12 ton net profit.
would give the estimated s40.00o,ooo
net gain.
Net earnings Of that amount would
wipe out all deficit for the year. The
third quarter should show surplus
of S20,000,000.
the Steel Corporation exceeded the
slO.0oO,000 mark in third quarter net
earnings, the record of $43,S04,28 being
reached for net profits for the third
quarter of 1907.
W., B. & A. Earnings.
For the month of June the Washing
ton. Baltimore and Annapolis Rail-
way Company earned ss4.ss4 gross. as
compared with s66,s64 for the same
month in 1914 For the half year end
ed with June, the gross earnings were
sG9a,SsO, as compared with S3S1,947 for
tle first six months of 1914.
The Business Situation.
Conditions, in the main, in this coun-
try are pronounced sound-or at least
are regarded as SATISFACTORILY the
correspondents of the Continental and
Commercial National Bank of Chicago.
With an agricultural yield probably
the greatest in history, and having
valuation not far from SIC, 900 900, 900;
with the domestic credit situation i'm
proving, and with labor better employ
ed than it has been at any time since
the outbreak of the European war,
there is sufficient basis for the hope
for better things. The one deterring
f,ctor apparently is the uncertainty
as; to the length of the war and the i'm
/, ediate and ultimate effect on the
worlds business of the treme mendous de-
s:-uction of capital and life in the Eu-
oean conflict.
There is a preponderance OF evidence
q the soundness of fundamental con-
d lions in our domestic situation run
.'rg all through the $500 letters and
:, ices received by President George
IL Reynolds. preparatory to the annual
TsSume of crop and business conditions.
collections are far more satisfactory,
taking business as a whole, than they
were few months ago. The DISPOSE
tion on the part of every one seems to
be to liquidate his Indebtedness and to
proceed on a more rational basis. This
is the natural outcome of long period
of restricted activity, but it makes for
a fundamentally sounder position when
the time is ripe for a gradual expansion
swxf ,,r.<ss