Evening star., 1915-05-21
RAILWAY COMMON IS
LOCAL MARKET LEADER
CAPITAL Traction Shares Were Less
Active, With About One Point
Decline in Price.
Larger Orders for Steel for Construc-
ton Work-Amalgamated Copper
Company's Earnings.
BY I. A. FLEMING.

Capital Traction shares are slowly
receding from the high prices preva
lent earlier in the week; moreover. the
daily trading is lessening in volume
Light sales were made this afternoon
at 91a9711, with 91A bid at the close
and 97ls asked.
Washington Railway and Electric
common resumed it's old place as lead
er of the market with strong sup
porting demand and sales at 90. The
preferred stock of the same company
was steady at S4i..
Columbia Title and Fire Insurance
shares were traded in rather freely at
81.
odd lot sales of Mergenthaler were.
in the aggregate of twenty shares, at
1855.
There was a good market for bonds.
banks being again in evidence as pu!-
ers. Potomac Electric consolidated 5s
sold freely at 1001a. with Capital Trac-
tion 5s frmer at los.
Treasury Condition.
The condition of the United States
Treasury at the close of business yes
terday was:
Net balance in general fund. s14,-
o45,9S1
Total receipts, S2,0. b,Sbo-
Total payments, S2,03o,093.
The deficit this fiscal year is S106.sSs.-
1S4, against a deficit of s40.9I9,529 last
year, exclusive of Panama canal and
public debt transactions.
Financial Notes.
Chesapeake and Ohio directors yes
terday deferred consideration of the
dividend due at this time until June II:
NJ he
twenty-four Mallet locomotives ana
200 steel underframe cars.
The Gould estate. after protracted
conference. decided to extend the time
for the payment of its S6,000.OOO Mis-
souri, Pacific notes, thus probably as
surfing the success of the reorganiZa-
tion plan.
Sterling exchange and French bills
are at their lowest point.
The American Locomotive Company
has placed an order for 5000 tons OF
steel bars with the United States steel
Corporation.
work have been ordered by the Missouri.
Kansas and Texas and Baltimore and
Ohio roads.
The Steel Corporation is said to have
secured an order for $4,000 tons of steel
rails from Russia for use in China.
The Amalgamated Copper Company.
for sixteen months ended April 80. re-
ports income of $7,341.2SS: total sur
plus. sa1.753.154. after paying divi-
dends of s6.924.955. Since the incor-
poration of the company it has made
profits of s113,032 .000: has paid in divi-
dends $91.279.147. and invested S21.-
551,96i in properties and securities.
The Anaconda Copper Company now
operates all properties of the Amalga-
mated and the latter company is ready
TO dissolve.
Chicago reports that the regional
bank Of that city has ceased buying
United States bonds. in order to be the
better prepared to buy new issue if
one Is decided on. Bankers there ex-
press the opinion that government
bond issue would have to bear per
cent interest
Treasury oficials here have con-
would not be necessary. Director j. B.
Forsan of the Chicago regional banl,
defended the purchase of government
bonds by the regional bank. declaring
tina; these bonds. maturing in three
years. were the best possible security.
supplying needed revenue. when re-
discounts did not produce income suf-
ficient to pay the banks expenses.
An average list of 36 to 800 issues of
bonds show that the returns on invest
ments in government issues yielded the
investor 2.s3 per cent in 1900 and 3.33
per cent in 1912: municipal bonds in
the same comparison yielded 3.2 per
cent in 1900 and ~ per cent in 1914.
cent. and in 1914. as per cent; south
western roads, 4.0s per cent and 81
per cent; public utility bonds. AS per
cent and 81 per cent, while industrial
bonds Welded "a per cent in 1900 and
b9 per cent i'm 1914.