Evening star., 1916-08-18
NO CHANGE IN PRICES
: ON LOCAL SECURITIES
Washington Market Cold Storage So
Show on Sales Record at 96.
Graphophone Firm.
Washington. Baltimore and Annap-
oils Line Shows Increased Earn
ings-Reynolds on Money.
BY I. A. FLEMING.


ing in stocks. Railway preferred sold at
81. Mercy at $50. Graphophone common at
1855 and preferred at 166. while few
shares of Railway preferred brought 81.
These quotations may be taken as a
fair index of the market, although the
transactions were of little Importance.
There were no changes in the bid and
asked quotations on public utility shares.
FIn the bond list $1,000 bond Of the
Washington Market Cold Storage IS sold
at SS, making the first record for this is
sue in 1916.
Railway As brought S11a for full and
81 for small bond.
George M. Reynolds on Money.
George NJ. Reynolds. president of the
ContinentaI-C National Bank
of Chicago. has this to say on the
money market:
There is no reason within view to
cause much advance in money rates
this year. Money is easy now, about
the same average as year ago, per-
haps shade lower. with Indications of
a shade higher for the entire month.
Our average for August thus far has
been slightly above per cent, which
we call our minimum. The July aver
age was 4.24 per cent. That Of the
first half of this year was 3.74 per cent,
compared with 4.36 per cent q year
ago. Two-thirds of one per cent makes
big difference. Last August's aver
age was "A per cent Most banks
quote to AZ per cent, and borrowers
are satisfied. They used to pay 5 per
cent and upward before the war at
this period. frequently per cent. In
fact, our average through five years
ra
since the last bank call for condition,
while loans gained a little"
W. B. and A. Earnings.
Gross e3rning of the Washington,
Baltimore and Annapolis electric line
for July were sI9.977, an increase over
the same month last year of ss.011.
The net for July was $14.7s4. gain of
s4.561. The total gross earnings for
the seven months were $4ss,78s.3s, as
compared with s4S4.027.1s for the same
period of last year, an increase of
s3S.762.2o. After interest. tax and
other deductions the company reported
S?S.6ssss. Allowing for the per cent
dividend on the preferred stock, the
earnings of the Washington, Baltimore
and Annapolis common are at the an
L
on the three e-million-dollar issue of
common stock.
Trading Lighter.
AS the session wore on the market
showed a more positive slowing down
In trading with the exception of spe-
eialties here and there, Mercantile
Marines and Steel common. with one or
Huxr
percentage of the business.
The let-up was the result Iof profit
taking and a disposition to hold aloof,
pending the conference on the railroad
situation and it's results. to be held this
afternoon in Washington. Moreover,
the week end always brings an even
Sng-up process, while the pace of the
last few days in the industriais has
been SO rapid as to call for checking
Of accounts.
- Prices Easier.
These influences usually bring a trend
toward lower levels-not serious setbacks,
but slight and very gradual recessions,
on profit taking; Mercantile Marine
ADVANCES.
Steel common dropped back a point
on profttaking: Mercantile Marine
common lost Is. the preferred u mu-
milton shares were Off u. motors drop
ped Il TO a point, Industrial Alcohol
1ost 2i2. and the rails. practically neg
iected. were slightly lower
Condition of the Treasury.
!, The condition of the United States
Treasury at the close Of business yes
ferday was:
Net balance in general fund. $21o.-
ESQ 2ss
, Total ordinary receipts yesterday,
f223l, SIG.
Total ordinary payments yesterday.
,s3.09s $50
The deficit this fiscal year Is $24,113,-
96i. against a deficit of ST. 2.994, ,53s last
wear, exclusive of Panama canal and
public debt transactions.