Evening star., 1915-09-02
TRACTION SHARES SHOW
RATHER BETTER TONE
Lanston Bid and Asked Prices Ad.
vanced-Controller of Currency
Wants More Information.
Richmond Regional Bank Prepares
to Finance Cotton in Its District.
Gas Earnings.
BY I. A. FLEMING.

BY I. A. FLEMING.
Business was more quiet on the loca
stock exchange today. but the marke
was not without its feature In actua
transactions in quotation lots of botf
Capital Traction and Railway preferred
shares, something that has not beer
at all frequent of late.
Capital Traction sold at SIS, forty
shares in all. and Railway preferred a
SIZE. Odd lots were little f1rmer. The
former stock was offered at the sale
price at the close. and s11a was the
bid price for Railway preferred.
Lanston also featured the session BY
reason of a display of strength. The
bid price was raised a point to 81, ant
the asking price advanced two point:
to S2h, or within a fraction of the tor
figure on this movement.
Washington Gas was held at 70a,
with 20 the best bid. 1t was stated or
authority that the earnings of the COM
pany are keeping up well above the
average of 1914, that the actual figures
to the end of July showed an increase
of 100000 in net earnings for this
year.
Wants More Inside Information.
J. Shelton Williams, controller of the
currency, wants more information from
the 200 odd banks in the national
banking system concerning their actual
condition, and has therefore added a
number of questions to the list to be
answered and sworn to with the next
| CALL which bankers expect may be
made almost any day.
The present controller has delved
deeper than any of his predecessors in
the office. and added to the work of
Treasury employees, bank cashiers and
their assistants.
Among the new queries the controller
asks whether or not banking house
Is clear or plastered with a mortgage.
| and il the latter, the amount of the
banks equity.
He also desires to know:
The customers liability under letters
of credit"
customers liability under accept
ances.'
"Other assets, if any, attach schedule y
Liabilities of bank under letters of
credit"
Liabilities in acceptance of bills
based on exports and imports
Liabilities other than mentioned. at
tach schedule"
| Net deposits subject to reserve re-
Quirements"
Information is also desired on all
losses sustained 'in transactions with
other banks during 1912. 1913 and
1914.
Perhaps the last new query may have
something to do with the collection
system of the regional banks, intra-
district, SO dear to the federal reserve
board This query is as follows:
Furnish an abstract account of col
Iections' accounts for the years 1912,
1918 and 1914"
state banks joining the federal re-
serve system are informed that their
admission does not give them the right
IN nf fnP nr,,y, apylt
funds.
Preparing to Finance Cotton.
The regional bank of the federal
reserve system at Richmond. in prep
aration for extending assistance to the
bankers of it's district in carrying the
cotton crop, has codified the warehouse
laws of Virginia. South Carolina and
North Carolina, the cotton states COW
cred by the boundaries of its district
limits.
The regional bank has prepared also
q form Of warehouse receipt. which is
recommended to the member banks
that will handle the funds between the
regional bank and the owners of cot
ton for adoption in the states named.
This form is simple. and yet covers all
points in issue, including quality,
amount, marks and condition Of cotton
Ewhen received. as we'll as the grade.
"a guarantee of proper insurance is de-
Emanded and the right to inspection by
the holder OF the receipt at any time.
interests will be liberal is readily in
ferred from this paragraph:
Many banks have asked US (the
Richmond regional bank) how far we will
go giving aid To be effective the aid
must be adequate. If member banks will
perform the part required of them Gin
securing proper storage and receipts)
funds for the purpose will be abun-
d2nt and available. 1t need not add
anything to the cost of storage. Cot
ton should be properly stored in any
event"
South Carolina demands a bond from
warehouse men for a sum equal to 10
per cent of the value of goods stored
from warehouse corporate with less
than $4,000 capital.
Personal
William d. Hoover, president of the
National Savings and Trust Company.
has left the city for short vacation.
George o. Howard, treasurer of the
same company. has returned after u
two-month absence
Howard S. Reeside. president of the
Washington Gas Light Company. has
Delegates to the American Institute
Of Banking convention at San Francisco
have returned TO the city loud in COM
mendation of the successful gathering
Financial Notes.
In New York yesterday 200 shares
of United States Trust Company and
forty shares of Real Estate Trust were
sold at auction, also one share Of the
sun Printing and publishing Company.
The. governors OF the New York Stock
Exchange have denied the petition of
the petitioners for a holiday next sat
urdaH.
Pittsburgh bankers claim that the
earnings of the United States Steel
Corporation warrant better treatment
of the common shareholders.
Corporate financing in August
amounted to $l0i. 900.
Twenty-three railroads reporting
earnings. gross. for the third week of
August showed decrease of s2Oa-
0S1. or about per cent, as compared
with the corresponding week of last
year.