Evening star., 1916-07-21
REVIVAL Of ACTIVITY
IN THE BOND MARKET
Liberal Trading in Washington Gas
IS and Capital Traction 5s at
Moderate Price Gains.
No Special Inquiry for STOCKS
Graphophone Shares Start BOOM.
Many New War Contracts.
BY I. A. FLEMING.

The Washington Stock Exchange en-
joyed one of it's best days from the
volume of trading in weeks. The de-
mand for bopds was excellent ana siN
of the popular issues were traded IN
with such a competitive demand that
better than opening prices prevailed
at the close.
Capital Traction 5s and Washington
Gas 5s were the favorites with IN
vestors During the last few weeks
these issues have gone off from an
average of IO7 to where they were sell
ing close to 106. Today's demand ad-
vanced the former to 1864 from an
opening at 106h. and the latter from
1861 to 107.
These were not the only issues traded
in. Railway As at 81 u as2. Potomac con-
solidated 5s at 101k. Riggs Realty os.
long maturity. at 1e2. and Graphophone
6s at 101 all showing on the sales sheet.
American Graphophone shares IN New
York moved up sharply to 16S bid and
10 asked. and the local market quickly
responded to the show OF strength. put
without actual transactions, holders pc
ing especially firm in their views ana
looking for even higher prices.
Stock transactions were restricted,
odd lots of Capital Traction, S5 y. Lam
ston. s2A; Washington Gas. IS. and
Title Insurance at 81. changing hands.
The bid price on Lanston was 50. with
So the asking figure. Mergenthaler was
barely steady.
Money rates are again on the down
grade despite the large flotations being
marketed and the activity in certain lines
of business. Call money in New York.
213; time, 4 per cent for six months
Bankers were buying bonds for invest
ment-
Southern Railway Earnings.
For the second week in July the
Southern Railway Company earned
s1,321.657 gross. as compared with
s1,166,1s4 for the corresponding week
of the last fiscal year. or gain of
s155,475. For the two weeks ended
July IA gross earnings were $2,S75.213,
as compared with $2.337.4sS for the
corresponding weeks of the previous
fiscal year, gain of $337,71s or 14.45
per cent.
Books Close Today.
Subscription books on the new
French loan closed at noon today in
stead of remaining open until Monday.
as intended. This means that the sub
scriptions have practically absorbed
Lie lSSQc ne piiCS "a tHO iSSoC VI
the stock exchange today was frac-
tionally above the syndicate f1otation
figure of 9S.
Industrials Show Strength.
Placing of many large contracts for
steel and various other products, alco-
hol. shells and other material by for
eign- countries has been completed in
the last few days: the result, new
life to the war brides" and rapid ad-
vances in values. France takes the
alcohol product OF the Industrial AL
cohol Company for the year 1917.
orders have been booked for 10000
tons of steel billets and bars. and
France and the United States are max
ing inquiries for material
Condition of the Treasury.
The condition of the United States
Treasury at the close of business yes
terday was:
Net balance in general fund. s22s s,sO4.-
3sT
Total ordinary receipts yesterday.
sg.245.41S.
Total ordinary payments yesterday.
sl.ss4.i21.
The deficit this fiscal year is ss703,-
i64. against i deficit Of $12.31s,Ss3 last
year. exclusive of Panama canal and
public debt transactions.