Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-05-07
WASHINGTON GAS BONDS
WERE IN GOOD DEMAND
Investment Orders Absorbed Offer
ings at a Small Net Ad-
vance in Price.
Richmond Regional Bank Wants
Member Institutions to Join Clear
ings Plan-Notes.
BY I. A. FLEMING.

There was a decided increase in the
volume of business transacted on the
Washington Stock Exchange in both
stocks and bonds Investors were buy
ing rather freely. Washington Gas IS
being the favorite. one bank ia king
quite a block at 100. a fraction above
the ruling figure of Thursday. In all
slo.ooh. face value, Of this issue
changed hands
Small bonds of the Norfolk and
Washington Steamboat tompanys IS
sold as high as 100. While Chesapea Ike
and Potomac Telephone IS We're firm
at 1906.
All the Washington Railway and
Electric common stock offered was
readily taken at one price. 81, while
the preferred was steady at Sc.
There were sales of Capital Trac-
ton Only odd lots of Washington
Gas We're recorded on the sales sheet
these at .lss.
arSentllaier linotype shares
onened at la'2, and We're sold down
steadily ON ten-Sllare lot transa ctions
TO 1870. where it closed.
Bond houses report an excellent over
the-counter business in railroad and
Industrial issues and local bonds also
Treasury Statistics.
The condition of the United States
Treasury at the close of business yes
terday was follows:
Net balance in general fund. s1..9e3.-
33i total receipts, 81 .s46.116 total pay
ments, s1.194.oi1.
The Treasury deficit for the fsca
year to date is sl04, 6s4 ,sS1. as com
pared with a deficit of s36.420.S59 &c
the corresponding date of the previous
fiscal year. exclusive of Panama cana
ND Hi daf,r
Plea for Support From Members.
The Richmond regional bank of the
federal reserve system has just issued
lengthy statement to member banks
urging that they give their support to
the plan for establishing intra district
clearings by the regional bank. The
KEYNOTE of the plea is this: THE more
members that join the system the more
satisfactorily will ii work for all con-
cerned. and. since it is an essential and
Inevitable part of the federal reserve
system. il will be intensely gratifying
If our members will show that loyal
cooperative spirit which they have
demonstrated at every stage of devel-
opment. and take the lead in developing
the most complete district collection
plan in operation"
1t is claimed that the bank whose
checks are stamped "collectable at par
through the Federal Reserve Bank
Will have a decided advantage in COM
petition with banks whose checks are
not so stamped; that communities
where banks have this privilege will
be at an advantage in securing bust
ness in competition with communities
where the banks have no such priv
Hege.
The prediction is made that the time
will come when practically all re-
serves will be kept in the regional
banks of the federal system. and when
twelve kinds of exchange will be avail
able on each of the twelve regional in
situations.
To further aid the movement the
Richmond regional bank will receive
and collect for member banks checks
of member banks of the district re-
gionals east of the Mississippi river.
Boston. New York. Philadelphia, Cleve-
land. Chicago. Atlanta, Cleveland and
points when required by local condi-
lions.
Financial Notes.
Gold to the amount of s2,50o.ooo has
been enga ged in Paris for export to the
United States.
The Carnegie Steel Company has
thirty-nine out of fifty-eight furnaces
in operation, or 81 per cent of capacity
Argentina is again negotiating for a
loan. in gold, of 100000.
War orders for 1000, 900. 900 to $780,
900 pairs of shoes are pending, which is
somewhat more than the orders hereto
fore placed and partially filled.
Bank exchanges of the United States
Increased o. per cent in April of this
year, comparison being with the same
month OF 1914
Oyer-the-year money in New York is
quoted at 3l2 to per cent, three-month
money. az per cent
The directors of the Analgamated
Copper Company have passed resoiu-
tion to the effect that the best interests
of the corporation call for it's dissolu-
ton A meeting of the shareholders
has been called for June > 20 take
action on the resolution
Seventeen trust compa MES and state
banks have joined the federal reserve
systemic be exact, four trust com
panies and thirteen state banks. One
Of the trust companies is the Continen-
tai Trust Company of Washington. The
others are the Central Trust Compa Y
of Chicago, the Sullivan Bank and
Trust Company of Montgomery. Ala.
and the Mercantile Trust Company OF
81. Louis.
Bank cIearings of Chicago. New York
Boston. Philadelphia and st. Louis
showed large increases yesterday.
The first actual business transa CT d
over $3.50 miles Of wire between Los
Angeles and New York city. talking via
phone. was the purchase of 100 shares
of Steel common. and the cost s22 10
plus commission of broker executing
order