Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-01-20
BOND MARKET SHOWS
STEADY IMPROVEMENT
Marked Recovery Made Since Janu-
airy Some Comparative Fig
ures-Rumely Failure.
Another Washingtonian on Mergen-
thaler Board-Federal National
Shareholders Meeting.
BY I. A. FLEMING.

one OF tne most signs VI
the times is the continued strength in
the market for bonds, especially Tor
hish-grade issues. both OF railroad and
industrial corporations, while munich
pals are being greatly favored because
they are free from the provisions Oh
the income tax law.
The average price of twenty-five rep
resentative railroad bonds is today some
three points better than the low OF
1919, while during the current month
an average rise of liz points has been
recorded With the usual stability OF
bond prices. such a fiuctuation In a
comparatively few days is decidedly
unusual
But the recovery will have to con-
tinue for some time to come before the
averake prices will be anywhere near
The hgures of recent Januaries In
deed, quotations at this time are nearly
on a par with the prevailing figures
of 1907. The twenty-five representa-
9143 in January. 1911. 1904 in the
same month of 1912, S9.15 In January,
1913, S6.S. a year ago and 1890 yester-
day.
Bond houses report a material in
crease in the demand for investments.
following the advent of the year.
Rumely Company.
The Rumely Company, large manu-
featuring company which has just
passed into the hands of receivers, did
q business of S6.033,000 in 1905 and of
sl1.564i31 in 1912; in 1914 there was
decrease to about 100000 gross.
The capital of the corporation issued
is $11,S02,s00 common and S9,75O,O0O
preferred stock, with S10,000,O00 per
cent bonds.
In 1872 the preferred stock sold to
1o;.ia, in 1915 at Q. The common stock
which was nigh at 101 in 1912, sold off
to Is this month
Federal National Bank.
About 16o shareholders of the Fed
gathering at the New Willard Hotel
last evening, concentrating the clos
ing of the second year of business for
the institution.
John Poole, president of the bank,
and Charles u. Lyddane. assistant CASH
Ter. furnished the stockholders with
material facts and presented figures
showing the increase in deposits, and
gave other business details. Wilton j.
Lambert addressed the gathering on
Personality in Banking" while Myer
Cohen chose for his subject How a
Shareholder Can Cooperate for the
success of Bank" William Knowles
Cooper spoke on Impressions of the
Board of Directors and Its Policies"
DR.. James Brown Scott addressed the
meeting on Neutrality"
buffet supper was served.
Officials Elected.
At meeting of the stockholders of the
North Capitol Savings Bank yesterday
officers and directors were elected as fol-
lows: President. Daniel d. Mulcahy; vice
presidents. Warner Stutler. Theodore
Michael and A. O. Ollie; secretary. w. H.
Haycock; treasurer. Walter I. Plant; at.
iorney, Leo A. Rover; directors, Daniel
Doody. II. c. yesterday. George E. Phil
lips w. II. Haycock. Lewis Holmes, DIR.
j.. r. Horen, DIR. d. D. Mulcany, Leo A.
Rover. Clifford Sparrow. Leon Ullman,
Warmer stutler. Theodore Michael. James
W. Bean, v. c. Dickey. H T. Pillsbury,
II. A Gore, John J. Allen, Charles B.
Stewart, John A. Eckert, Charles Z.
Young. James H Carger, A. O. Ollie.
Gustav Hartig, George Clagett and L. H.
Winslow.
Mergenthaler Director Elected.
AT meeting of the board OF direc-
tors of the Merganthaler Linotype Com
pany. held yesterday in New York.
Frederick D. Mckinney was elected a
directorate fill a vacancy on the board
,doScu ny tHt Oedln OF ROBERT i. Gam
nell. This gives Washington two rem
resentatives on the directory of the
corporation. E. V. Murphy being the
other.
Continental Trust Earnings.
During the past year the Continental
Trust Company earned s195.655, gross,
at an expense of s115,1S5. netting $50
40, equal to S.o4 per cent on its capt.
talization of sl.oo0.o0o
Financial Notes.
The National Savings and Trust Com
pany will pay the regular elz per cen,
quarterly dividend February /. books
closing January %.
The ninth lecture of Dr. II. Willis
Parker before the Washington Chapter
American Institute OF Banking, will be
deIVered tomorrow night at the New
willard Hotel. The subject will be
Foreign Exchange ard Foreign Bank
Ing"
Local Securities.
Business in local securities on the
Washington Stock Exchange TODAY was
limited. with no particular buyinp
movement nor pressure to sell. Wash
ington Gas IS were a shade easier. with
one sale at 1913. Railway As were
steady at 81. A $500 bond Of the Nor
FOLK and Washington Steamboat Com
pany sold at 1oo, There were no trans
actions in stocks worthy of special