Evening star., 1915-06-13

shares of Capital Traction sold at 80,
closing at 80; 425 shares of Railway
common at 80 to 91k: 157 shares of
Railway preferred at s4A. generally,
and As shares of Washington Gas at
l73 to 1917. All other sales were un-
important and in two to ten share lots.
| Bond activity was confined to $780,
100. almost all divided between the
Washington Railway As and Potomac
| Consolidated 5s.
The market seemed to have settled
down to midsummer dullness. Wash
ington investors are either carrying
about all the investments they can or
are conservative and cannot be in
iduced to do buying in quantities on
easy money and activity in munitions.
| The feature Of the week has been
the drop of points in Capital Trac-
ton on sales of 81 shares; making a
loss of over points within the last
few weeks, after a sharp spurt.
| Denials by parties in interest, and
also by members of the Washington
merger of street railways was under
consideration, where insiders had been
told that interests were favorable to
| such a combination, was the chief in
| the advance certain holders of stock
watched the movement closely, and
around % and 90 and little better
considerable blocks of stock, 100 to 2oo
| shares, were disturbed from
! lodgment with loss, temporary at
least. to the buyers.
| Railway common and preferred was
a little easier. simply because the buy.
| ing which has for many days been OF
the "take-it-all'' variety, seems to
have subsidized. at least for the time
| being.
1t is easy to get bids on some
stocks and bonds on the local ex-
change. but it is hard to do business
in the list.
! Five transactions in bank stocks
were made last week: Commercial
| National, at 1876: District. at 135; Fed
eral, at $40: Continental Trust. at 11811.
100
Financial Notes.
| The New York American predicts
! that the United States Steel decision
will not be appealed.
There is said to be an even chance
that the Harvester decision will be
handed down by the Supreme Court
tomorrow.
| The directors of the Electric Boat
! Company have under consideration re-
preferred stocks. In 1914 the com
| pany made more than 10 per cent on
the common. Dividends of pei cent
| on preferred and on common stock
| are preOlCleO.
| Buying Of Steel common has become
quite pronounced.
! The May gross earnings Of Balti-
more and Ohio are well up to those OF
last years May returns. This is the
! first time in the fiscal year that gross
| earnings have shown a favorable COM
parison. 1t is predicted that May will
show net earnings of 5 per cent on the
common stock.
Necessity Is the mother of inven-
ton" Steel manufa cturers. because of
the high price of spelter. have per-
| fected a process of coating steel with
| lead.
June / there was a surplus of 295.Os2
i idle cars The net surplus a year ago
| 241,8O2
Call money in New York is 2 per
cent; time money, 212 per cent for
| sixty days; 3A to 3la per cent over the
year.
Metals and War Exports.
| The rise in metal prices, due TO the
war demand. is one of the features Of
the times-copper above 20 and in
creasing it's price a quarter of a cent
daily, lead around I cents. its highest
price for thirty years. and zinc SO
scarce that the brass makers are in a
quandary over some of the Incidents
destruction by the belligerents Is, of
course, the reason for these unpre-
cedented conditions. Copper Is for car
| fridge shells the best quality required,
| lead for bullets and shrapnel.
1t is estimated that from 100000
to 100.000,00O pounds of copper have
| been sold since March by the leading
producers to the General Electric.
Westinghouse Electric and other COM
panies now selling large war contracts.
| In the last three months electrolytic
! copper has advanced steadily from an
average price of II cents, and lead
frem about Az cents, to its present
| high quotation.
The Boston News Bureau says: The
| present record breaking buying move
| ment In copper got under way in big
! volume Friday, since which time sales
have crossed the 10000. 900 pound
mark. according to estimates of pro
| ducers booking large quantities
| Never before has copper been sold
i SO far ahead as the deliveries specified
in some of the contracts just closed
| Sales have been made in known in
stances through August, 1915. 1t
! would not be difficult for producers to
sell large quantities a full year ahead,
but a number of the sellers do not care
to book more than four months at the
outside
The Department Of Commerce. in its
| analysis of the classes of trade in
| Aprils exports, shows that explosives
valued at s6.100,00O were sent abroad
an increase of $520000O over April
1914; ss.soo,ooo worth of automobiles
and motor trucks. which is IS. 400. 900
more than year ago; leather boots
and leather manufactures increased
i $4,000 chemicals and medicines to-
| tailed 100000. against $2,4OO,00O last
year. All these and many others that
show increase are for war business
For instance, foreign sales of wool
| manufa ufactures-blankets. sweaters and
uniforms-rose from $1.75O,0O0 to $16,-
100000.