The Washington times., 1915-08-03
LOCAL EXCHANGE LED
:.BYLANSTONSTOCK
Reported Placing Of $500, 900
English Contract Enlivens
Shares Long Inactive.

The effect Of enormous war orders was
brought home to Washington investors
today when a New York news agency
Issued an announcement OF the placing
by an English gun company OF $boo,ooo
contract with the Lanston Monotype
Machine Company. a Virginia corpora
tton. a large part Of the stock OF which
10 held In this city. The factory OF
the company IL located at Philadelphia.
but its president Is J. Maury Dove, a
Washingt oman.
Publication Of the order caused Lam
ston stock, for several months a very
inactive issue. TO assume leadership at
today'V session Of the Washington Stock
Exchange. The announcement OF the
order did not reach Washington un-
til after the regular call Of the
exchange had been concluded. and.
with the exception of ten shares.
which had been traded in on call
at 81. the Lanston transactions, totaling
800 shares, were recorded after call.
The first after call sale consisted OF
100 shares at 63. which were sold sub
ject to 30-day delivery. This sale was
almost Immediately followed by simi-
lar block at 63k for immediate delivery,
and the activity concluded with the sale
Of a third 00-share block for 3O-day de-
livery at 63h
The news agency dispatch said that
the order was for gun parts. and added
that the company was not negotiating
for further orders, Of similar character
ment that the Lanston Monotype Cor.
poration. Limited. Of London, controlled
by the American company. Is now en-
gaged In work Of the same character
pany recently completed new plant
in Philadelphia. thus giving 1t a capacity
to undertake much larger contracts
than formerly.
transactions on the exchange We're con-
fined to odd lots of stock and three
bond sales. A $500 Capital Traction 6
per cent bond sold at 108: a 1900 Wash
ington Railway and Electric at H&.
and one Potomac Electric Power Con-
sales consisted Of twelve shares of
Washington Railway and Electric pre-
ferred at s2A: five shares OF District
National Bank at 1884; three shares OF
share OF Capital Traction at 90.
Eleven applications for national bank
charters. four OF which were for the
conversion Of State banks or the reor'
gan!zation Of State or private banks
were approved during the month Of
June. according to statement ISSUED
late yesterday by Comptroller Of tho
Currency williams. This brings tn.
total number Of national banks In the
| UEited States up to 1913. They have
| an authorized capital Of sl,076. AL IFS
| The Comptrollers announcement was
| in part. as follows:
\"During the month eleven applica
! lions were approved. four OF these
being for conversion OF state banks ol
reorganization OF State or private
| banks.
During the month Of July six banks
with a total capital OF $226. coo. were gu
thorized to begin business, OF which
number four, with capital OF $l00. COZ
| rad individual capital OF less than 80.
| OlO and two with a capital OF $l25 90
| had Individual capital Of $4,000 or over
"On July 81. 1915 the total number
| OF national banks organized was 10,75s
| Of which 3145 had discontinued busi
ness, leaving IN existence 1873 banks
| with an authorized capital Of $l,076
421, ,I57. and circulation outstanding. sc
cured ny United States bonds. s723. ST.
3l4 and by other securities s1s5.245.
"eirculation to the amount OF $50. .7os
sl4. covered by lawful money deposited
with the Treasurer OF the United State!
| on account Of liquidating and insolven
national banks and associations which
had reduced their circulation. is alst
| outstanding. making the total amour
| Of national bank circulation outstand
ing $s04.H0l. .373."