Evening star., 1916-08-02
LIGHT TRADE RECORD
IN LOCAL SECURITIES
Market Listless, With Quotations on
Important Shares Unchanged.
Typesetters Nominally Easier.
Southern Railroads Showing Excel
lent Earnings-Reported Sales
of Big Block Of Steel.
BY I. A. FLEMING.

BUSINESS on the local stock exchange
today was greatly restricted. There
may have been orders. but il SO they
were limited to prices below the Did
figuree or above the selling figure. for
the record was inconsiderable.
The attendance of members was light
The demand for bonds. especially high
grade issues which has been good Tor
the last few days, has fallen away en-
tirely. The only sales in the BOND hst
were of Potomac Consolidated Ss at
1O1Ia and a small lot of American
Graphophone IS at 101.
Aside from these transactions the only
others worthy of mention was olocK
of thirty-fiye shares of Arlington In
surance at g. the price bid some months
ago for the capital stock; and one ~
share lot of Washington Gas at 20 Y:
The typesetters were nominal at 10y
bid ISL asked for Mergenthaler anu
so bid and S2Ia asked foc Lanston
Big Earnings for Southern Lines.
The fiscal year ended with June 80
witnessed a wonderful improvement in
the earnings of a number of southern
railroads. For several it was the best
year in their records.
The Southern railway earnings pub
Ished yesterday were only exceeoeu
by the showing of 1914. the banner year
in the history of the organization
The Seaboard Air Line for the year
named increased its gross earnings Ss
$2,T13,472. The total gross 1or the
road was s24.492. 1888.
For the month of June the gross
earnings of the Atlantic Coast Line
increased S454.26S.75.
Western Maryland had its best year
when, for the year ended June 5u tne
gross earnings reached S10.93o, 1863. an
increase as compared with the pre-
vious year of $2.246,91O.
Earnings of railroads generally for the
last fiscal year will show up splendidiy
There is some fear that July figures. es-
pecially for eastern roads, may show the
effect Of using facilities for rushing troops
to the Mexican border. while freight was
delayed.
The PENNSYLVANIA system, all lines, re-
ported gross earnings for June OF *aI.-
a14.060. an increase OF a little less than
Sc 900 900 over June, 1915.
Chicago and Northwestern reported for
the month of June gross earnings OF
$s.11S.644 and for the fiscal year. gross.
Of s91.313.s65. an increase over the
Report Big Sale of Steel.
Shortly before noon it was reported
from New York that private sale of
100000 shares of Steel common had
been negotiated.
There was no confirmation of the re-
port. although it has been matter Of
public knowledge that large block OF
the stock was hanging over the market.
There are still some 100000 shares of
Steel common owned abroad, and ii Is
probable that Great Britain has mobi1-
ised a large block OF this stock and sent
II to J. p. Morgan & Co
That the stock has not made proper
response to the greatest earnings In the
history has been very largely due to
the fact that traders expected this big
block of stock, although they had no
knowledge OF the number of shares,
was hanging over the market.
Under the prevailing circumstances Of
easy money and big steel earnings
quarter or two. more than likely. it would
not be hard matter to dispose of the
big block mentioned to some syndicate.
New York Bankers Are Sharp.
New York bankers are using the col
lection system of the federal reserve
banks only for the collection of checks
drawn in regional district centers sent
them by ut-of-town members. The COL
lection will cost the bankers ~ cents an
toners 80 cents a thousand or on a per-
centage basis. They are not participant
ing in the general collection system
II is reported that the collection sys-
TEN OF the federal reserve banks Is work.
ing smoothly and the volume Of collec-
tions increasing daily
Condition of the Treasury.
The condition of the United States
Treasury at the close Of business yes
terday was:
Net balance in general fund. $780,
1882.
Total ordinary receipts yesterday, So
lsfs5s
Total ordinary payments yesterday
s2.e23.5aa
The deficit this fiscal year is sssse-
2fs. against a dehcit Of S5,5S7132 last
year. exclusive of Panama canal and
public debt transactions.
NnNEEDEEc nYcAN~r-