Evening star., 1915-11-19
but LITTLE ACTIVITY
| IN STOCKS AND BONDS
Odd-Lot Business Furnishes About
the Only Trading on the
Local Exchange. -
Washington Investments Generally
in Other ecurities-Bankers OBJ
ject to Usury Circular.
BY I. A. FLEMING.

There was some little improvement
in investment buying on the local eN-
change today, but the volume OF trad
ing is still very restricted.
Washington is not Indifferent to the
opportunities offered in the investment
| field these days, and they are placing
| their money very freely, but they do
| not seem to favor local stocks and
bonds, being uncertain as to future reg
ulation of the utility corporations and
not especially attracted to other securi-
! ties.
Large trading is going on daily over
| the counter in the bond and stock busi-
ness, while the local speculative fra
ternity find the desired action in Wall
street stocks.
Today's limited transactions included
railway preferred at 81 y to 81: Capital
stock was offered, and in washington
Gas at 10.
Norfolk and Washington Steamboat
SIS sold at 105 and Potomac Consoll-
dated 5S at 100.
The quotations on Graphophone were
1913 bid, 1875 ased for the common and
126 bid and 13O asked for the pre-
ferred.
Mergenthaler Linotype shares were Of
fered at 176, with the best bid 173h
The company is said to be in splendid
condition. and. when the war ends.
looks for a decided revival of business.
The competition between the Mer-
genthaler company and the 1ntertype
company was more or less severe until
the former won a patent suit. The
death of Herman Ritter has taken a
very active head from the Intertype
company.
Object to Usury Circular.
The executive committee of the Amer
lean Bankers Association, composed of
the ablest men in the banking business
in the United States. is unanimously
resenting the recent usury circular sent
out by the controller of the currency.
The resolution recites that the prac-
tees complained of are confined to
certain sections of the country and are
not general. and that the publicity
given to the matter has done a great
injustice to the great majority of the
bankers throughout the country.
Condition of the Treasury.
The condition of the United States
Treasury yesterday was:
Net balance in general fund. $111,-
494,279; total receipts, s2.660.28S; total
payments, s1,570,430.
The deficit this fiscal year is $48.058,-
894. against a deficit, of $50.167,958 last
year. exclusive of Panama canal and
public debt transactions.
Dividends.
Standard Oil of Ohio has declared the
regular SO a share dividend for the cur
rent quarter and an extra dividend of
like amount.
General Electric Company declared
the regular quarterly dividend.
Recommends Change.
The advisory committee to the fed
eral reserve board recommends the
change in the Clayton act. making 1t
impossible for any officer or employe to
hold dual positions. in a city of more
than 100000 inha abitants, provided that
any official director or empIoye may be
an officer, emQioye or director of not
more than one additional bank or trust
company. where the capital stock is
owned entirely by the stockholders of
the other bank. Also that the federal
reserve act be so amended as to per-
nit of joint ownership by national
banks of branch Institutions in foreign
countries and for the establishment of
branch banks by national banks of
sl,000,000 or .ore unimpaired capital,
within the limits of the city where said
bank is located.