Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-05-03
WASHINGTON STOCKS
ARE STRONGLY HELD
Many Buying Orders. But at Prices
Below the Views of Holders.
Bonds Firm.
National City Bank of New York
Comments OH the Business
Situation.
BY I. A. FLEMING.


While the volume of transactions OF
the WASHINGTON Stock Exchange toda,
did not show any material improve
mcnt the display of strength. as cTi
tlenccd by the bid and asked prices o.
tHc utilities WAS entirely to the salts
faction of Investors. There were buy.
ing orders. but at price limits that die
not meet the views of holders o
stocks
With The exception of a few odd-lo
trades III Capital Traction shares a
- to 91t:, there were sales o
public utility stocks. capital Traction
was held NJ 81. with SO bid. the small
trades indicating that offerings below
the asked prices probably would have
been readily absorbed. Washington
Railway common WAS nominal at -
bid and .. asked. while the preferred
shares of The same company were OF
fered at So. and Sai bid. The bic
figures on Washington Gas were IL
hut no stock was offered under 80
t:onds Were also strong. Gas rs sell
i'll. at 100, Traction IS ut the same liz
ur"S. and Potomac Consolidated IS at
lei quiet investment buying of both
stocks and bonds Is going on over the
counter
y little Mer-enthalcr changed hands
Dove. president of the LanSton com
pany. is enthusiastic over the prospects
Of the corporation. despite the fact tina,
lis European business is at a stand
still because of the war.
General Business.
I'll" National City Bank of New York
in It's May circular. released today. has
this In say of the general business:
Tie signs that tell of the actual vol
urne of business moving in the coun-
Try do not indicate the Improvement
that was hoped for in the month of
Aprli. but popular confidence in the
future is undoubtedly stronger. Offer
!n@s of commercial paper are light and
rates are no higher The amount of
fractional silver coin in circula ton rs
shown by Treasury reports, is a good
sign of the volume of retail trade;
normally the country absorbs 81 .O0a. 600
or s'-"oo.oop or new coin per year. but
III" amount i'll circulation April |
last was less than on April I. 1914
Railway earnings in March were
slightly better. but not enough SO to
encourage more liberal expenditures
All of the roads are being operated
upon very economical basis, and this
policy is factor in the depression
compla ined of in many Industries. The
steel industry is doing much better
than in December last, and is being
helped by war orders and the elimina-
ton of foreign competition. but do
nestle business is below normal
There is d great revival under way
IN the copper industry and it is wide
reaching in its industrial effects.
reaching from the mining regions to
the brass rollin. mills and ammunition
factories of Connecticut. Last fall the
copper mines We're reduced to 50 per
cent of normal production: now every
enort is being put forth to raise pro-
dslction to the maximum. Existing
stocks of copper have been cleaned up,
and the price has advance from loIa
cents in August and 49, January
TO 10 cents per pound at this date
About three months time is required
to convert ore in the mine into mer-
chanta BILE COPPER. and as mines, smelt
ers and refineries had all been run
ming light for many months, some time
must elapso before their forces are re-
organized effectively and they are
working to full capacity. At present
prices there is every incentive for them
to do so.
The lumber industry would be very
much helped by the British demand il
ships We're available. The regular
supply of lumber from the Baltic re-
Glon is cut off. and a large amount OF
business is offered to this side, but
tonnage is scarce. Mills in Maine, the
southern states and the Pacific north
vest are peiHS ndmpereu by TINS SItua
ton. Lumber trade in the middle ives,
is reported better, and mills in eastern
Washington are generally running al.
though prices are said to be unsatis.
factory
The textile Industries are running
reasonably full. but the margin of profit
on cotton goods remains small. manu-
factrrers finding IL difficult to advance
the price of goods to keen pace will
ihc advance of the raw material! Tn.
"oo'cn industry has been much helped
l's War conditions. both in foreign or
h"rs aud III the exclusion Of foreign
competition from this market
Crop prospects, which in the middle
west were never better, are noticea bl y