Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-08-20
LOCAL STOCK MARKET
SL0W;;PRCES STEADY
No Trading in Lanston, Quotations,
n Bid and SO 1-2 Asked-Trac.
ton IS Firm, 106 SO.
Weakness on Wall Street Factor
Reynolds Favors Jointly Owned
Branch Banks-Notes.
BY I. A. FLEMING.

brdQCQ bduhS0NotSSs
BY I. A. FLEMING.
With the Wall street market weak
and more or less excited, with serious
declines in practically everything on
the New York stock list, and uneasi-
ness as to the aftermath of the sink
ing of the Arabic, it was not to be eX-
pected that Washngton's war stock.
Lanston. would continue the squirt that
has characterized action in it for some
days past.
Lanston was offered at SO, and the
best bid was II today. There were few
brokers on the Washington change.
fewer spectators and little interest in
anything
Transac tions included $4,000 Capital
Traction IS at 1865 and ten shares of
1Se1G
Report has it that the Lanston Com
pany has sublet large contracts for
war supplies to the Midvale Steel Com
pany.
The record for the week ended with
foday's session shows but $4,000 bonds.
face value, and 2S9 shares of stock. of
and Washington Gas 90, showing the
complete dizziness in the traction
shares. further evidenC ed by total sales
of but forty-one shares of the latter
during the week.
Personals.
John Poole president of the Federal
National Bank. leaves in a day or two
for trip to the Pacific coast.
A. X. Paris of Crane. Paris G. Co.
returned to the city this morning from
months vacation spent in New Eng
land.
Rumored Sale.
There were persistent rumors in Bal
timore that the Title Guarantee and
Trust Company of that city had been
sold. The corporation was organized
back in 1854. with capital of 100000.
with like surplus Tow in it's vaults.
No information can be obtained from
the officials.
President Norton of the Equitable Trust
Company, formerly the Munsey Trust
Company. made the statement that he
had bid for stock control Of the cor
poration. but that S245 share had
been asked and refused The Union
Trust of Baltimore is said to have made
an offer for the stock No confirmation
of the reported sale could be obtained
yesterday.
Wants Jointly Owned Bank.
George NJ. Reynolds. president of the
Continental and Commercial National
Bank, says that the bank would gladly
be one of several strong banks through
cut the country to subscribe to stock Of
branch banks in South America and the
orient to promote foreign trade and
share risks of such an enterprise If
additional legislation gave national
banks authority to Jointly own them.
II find public sentiment strongly ia
yors establishing foreign banks" Mr.
Reynolds said, but very few banks
care to assume the risks separately, as
the federal reserve act empowers ma
tiona1 banks to do. A Jointly owned
foreign bank would best serve the re-
Quirements of the country as whole
Washington Steel and Ordnance Co.
1t is reported that the Washington Steel
and Ordnance Company, formerly the
irth-Sterling Company, is being rushed
to capacity production in filling orders
for munitions. A short time ago holders
Of the stock of the corporation in New
York made efforts to realize. but were
unable to obtain a bid. Within the last
few days efforts have been made in New
York and Pittsburgh to secure offerings
OF 100 shares, but sellers have tied up
their stock and it is unobtainable in the
open market.
Financial Notes
Investment houses with foreign con-
nections report that large amounts of
stocks and bonds are being sent over
from England. seeking the current high
prices before serious reactions occur.
Western railroads will not ask for a
rehearing of the rate case recently
acted on by the commission. All evil
dence was presented and the only ex-
f<Nr -aHI N,,lI I<.k How
that the commission might see clearer
the needs of the roads, on the same tes-
timony.
The Atlantic Coast Line has placed an
order for $50 cars and twenty locomo-
tives.
Steel companies are busy night and
day on munitions; old factories out of
use are being rehabilitated to relieve
pressure and still more orders are be-
ing offered day by day.
Northwestern reports loading for the
first half of the month of August was
10000 ears, a decrease of per cent as
compared with loadings year ago.
The Spedden Shipbuilding Company
of Baltimore has received a ten-milI-
ION dollar order for wheels, gun car
riages. etc.
d. Twenty three railroads reporting
their gross earnings for the first week
in August show gross decrease of
s24a.696, az compared with the same
weeks of last year.
Gasoline prices continue to advance,
being now II as compared with u
cents gallon a few weeks ago.
Condition of the Treasury.
The condition of the United States
Treasury at the close of business yes
terday was:
Net balance in general fund. S57,4Jo
6s3.
Total receipts, Sl9JS.493.
Total payments, S3.112.J6S
The deficit this fiscal year is u2J,-
692.6lS. against a deficit of S1o.o41 .301
last year. exclusive of Panama canal
and public debt transactions.
LONDON MARKET QUIET.
n i n Il.