Evening star., 1916-10-04
BONDS WERE Wanted,
]. WITH GAS IS LOWER
Moderately Free Selling Of This
Favorite Issue Breaks Prices
To LOG 3-8.
oraphophone 6s Higher-Capital
Traction Shares Off to 81 IA.
Many Directors Appeal.
BY I. A. FLEMING.

By I. A. FLEMING.
Bonds continue in good demand here
rs elsewhere. bankers being prominent
in the buying, the applications for
loans being too small to permit of the
use Of the large funds of the fiscal in
stitutions.
The aggregate total of the sales on
the local stock exchange this morning
was 5000 face value, with the trans
actions in Washington Gas IS furnish
ing nearly half of the total trades.
These bonds have been held very firmly
of late. holding around 107 to 1O1 u,
but today they showed positive weak
ness under liquidation, sales being
made at 1861 at the opening to 1868
for the last sale.
Metropolitan railway 5s were steady
at 105, and Railway As at S11a. Amer1-
can Graphophone 6s again were firmer,
sion in this issue being responsible for
the relatively low price.
Capital Traction stock was the only
utility that figured in the sales for
more than a few odd shares. Traction
opened at s1h and sold to s1A. closing
with 81 the best bid
A few shares of Washington Gas sold
at 7Oh Lanston slow at 70 and Mer-
A block of Firemen's Insurance sold
at 10.
Insular Issues Sell Well.
The prices paid for the new insular
bonds sold yesterday ore decidedly
high, according to local bond houses.
The National City Bank of New York
acquired the 100000 Philippine As
at 10176 and the 100000 Porto Rico
irrigation IS were distributed as fol-
lows: Seasongood & Meyer. Cincin-
natl, $4a5,0o0 at 1.02622; the Ohio Ma
tional Bank of Columbus. $4,000. re-
deemable in 1929 at 1.02es2 and $4,000
redeefnable in 1880 at 10315. Season
good & Meyer were also awarded
$l76,000 irrigation refunding bonds at
1.o46055, and the National Bank OF CO.
lumbus. $4,000. redeemable In 1858, at
1.o53S5.
More Appeals Filed.
A large number OF appeals have
been filed by directors of more than
one, bank with the federal reserve
board, insuring' rehearings practically
up to the day the section of the Clay
ton. law regarding dual 'directorships
goes into .effect-October 16.
-Four local appeals were heard yes
terday afternoon by the board and
wscs taken under consideration. with
dseisions probable before the close OF
the week or early next week.
But few directors of local institutions
have appealed from the ruling of the
board. although favorable decisions in
the matter of some of the appellants
m1y lead to others asking rehearinss'
New. York's Big Business.
Frank A. vanderlip. president Of the
Na4tSnsivCit Bank OF New York, was
reelected president Of the New York
ClGaring House Association.
the ciearings for the fiscal year 1916
have sbeen $I55,742,333. sos. showfng the
woaderfui volume Of transactions in the
natfofs chief commercial city. Daily
olearings have averaged $512.310.30s.
Comparisons with the fiscal year 1915
were. total $s6.1ss.554.4s4:' daily
average. $317.4a7,47s.
Munition Making Profits.
According to Henry F. Davidson of
J. p Morgan & Co. all munition max
ers in the United States have not made
big profits from their foreign con-
tracts. Mr.. Davidson. in London in
tervtew, said:
Some firms which were in the NUM-
ton business before the war. and have
merely had to enlarge their plants to
meet the demand. have made very large
profits. but cases are exceptional. and
Englishmen would be surprised to
know how many of our munition max
ers would be pleased to quit even." He
added that he could name some firms
that had actually lost money on muni-
tion contracts.
Condition Of the Treasury.
The condition Of the United States
Treasury at the close Of business yes
terday was:
Net balance in general fund. s17s.s54.-
es4.
Total ordinary receipts. $2,209.710.
Total ordinary payments. S2.S68.201.
The deficit this fiscal year is s51 ,566.
1zl against a deficit of $31, ,593.180 last
year, exclusive Of Panama canal and
public debt transactions.