Evening star., 1915-05-24
NO LIFE SHOWN IN THE
LOCAL STOCK MARKET
Selling Orders Appeared to Be More
Numerous Than Buying.
Bid Prices Lowered.
Equipment Companies Received
Large Commissions for Cars From
Home Railroads-Notes
BY I. A. FLEMING.

There was not enough doing on the
local stock exchange today to make the
market interesting. Brokers seemed to
have an abundance of orders. but they
were generally on the selling side. and
as there were few buying commissions.
the volume of sales was unimportant-
Washington Railway and Electric
shares were entirely nominal. the usual
support being withdrawn. probably
temporarily Capital Traction also set
tied down to more normal conditions
with neither buying nor selling move
ment worthy of note.
The only stock sale. in quotation lots.
was of Lanston Monotype Machine Com
pany, where sixty shares changed hands
at sos.
An odd lot Of Capital Traction brought
81, the bid price for quotation lots.
In the bond list Washington Gas 6s
sold at los. and were later offered at
1o4N. Washington Railway 4s sold at
So.
Important Bulletins.
FIR. Fenton, secretary of the Invest
ment Bankers Association of America.
has just issued an important bulletin
treating on the following subjects:
Michigan Secured Debts Tax Law"
Double Taxation and Intangibles."
and New Iowa Blue Sky Law
The bulletin also covers the reports
of various committee chairmen.
Arrangements for the fourth annual
convention. to be held in Denver Sep
tember 20, 81 and %, have practically
been completed and the Denver contin-
gent Is making preparations for elabo-
rate entertainment Of delegates. includ-
ing several extended trips to Rocky
mountain parks.
Better Demand for Equipment
The railroads of the country have
commenced to place their orders for
equipment in large amounts. Corpora
tions engaged in the manufacture of
cars. locomotives and other supplies
have had lean picking in their rarticu-
lar field for the last two years. and even
this year the betterment in their busi-
ness has been slow up to the current
month.
About 10000 cars had been ordered to
May J and nifty locomotives To the
21st day Of May the orders booked for
the current month totaled $4,000 cars
tire month Of May. 1914. but $500 cars
were ordered. The Pennsylvania orders
furnished about half Of the car orders
for the current month. This business
uVSS HOt lnCluOS Che RUSSIAN OI0cFS
for $4,000 cars. of which $4,000 will be
constructed in the United States.
Moreover. the home orders seem to
have reached their greatest Importance
at time when the idle-car report is
near the highest point. numerically. 1t
is one Of the necessities of the railroad
business: provision must be made for
the hauling Of the crop. even while
Thousands Of cars are idle.
Financial Notes.
Rock Island may have a deficit Of
100000 for the fiscal year.
The United States Steel Corporation
is operating to IS per cent of its capac-
ity; of which SO per cent II in filling
domestic orders.
The government put the national
banking system into effect partially as
a means Of marketing its big bond is
sue. The federal reserve system
might be used to market a govern
ment bond issue should one be needed
for any purpose.
Bank clearings continue to show de-
creases in the important cities, with
the exception OF New York, Philadel-
phia and st. Louis, where small in
creases were reported.
Lehigh Valley is expected to earn
about IL per cent net this fiscal year:
Northern Pacific better than IN per
cent.