Evening star., 1916-10-31
Finance and Trade
WASHINGTON NEW YORK. LONDON
WERE WANTED,
AT STRONGER PRICES
BY I. A. FLEMING.

BY I. A. FLEMING.
Trading in bonds featured the session
Of the Washington Stock Exchange to-
day. slightly improved prices being in
evidence on the issues in which trans
actions were recorded.
Washington Gas IS moved up to
1861: Graphophone IS sold at 1o2h.
a slight Improvement. while Washing
ton Railway and Electric As were
steady at SO.
Capital Traction shares were strong
er, a quotation lot selling at S3N.
stock was offered at the same price.
Lanston Monotype shares were slow,
one sale being made at IS.
A small lot of American National
Bank stock brought 154.
Local Gas Matters.
1T Is understood that the directors OF
the Washington Gas Company will not
go to the courts in the matter of the
recent cut in prices for the company's
product by congressional action.
Officials Of the corporation feel that
the cut has been sufficiently drastic to
prevent any further reduction, as a re-
ing made of the company's property for
the utilities commission.
Attorneys of both the Washington
Gas Company and the Georgetown Gas
Company have been in frequent con-
ference OF late, endeavoring to reach
an agreement on a decree, in conform
tty with the recent ruling of the court,
with reference to the illegality of the
ownership by the former Of 3.54G
shares Of Georgetown Gas.
The Gold Movement.
H. Parker Willis, secretary of the
federal reserve board and president of
the National Bank of the Philippines.
spoke on The International Gold
Movement" at a meeting of the post
graduate class of the Washington
Chapter of the American Institute of
Banking last night at the chapter
house. 1914 street. Mr.. Willis out
lined the work of the class for the
coming year.
Twelve lectures by men of promi-
nence in the banking world are to be
given. Two more are to be given on
eign Exchange" three on Liverpool
Shipping Pool and Merchant Marine"
and three on "The Farm Loan Act"
]. w. Lauck, former assistant pro-
fessor of economics at Washington and
Lee University, is to address the regu-
lar Thursday night class at o'clock
on Banking Administration"
Broad Investment Market.
Not in years has the bond investment
market, generally speaking. been as
broad and active as it is at the present
time. Proof of this assertion is found
in the aggregate weekly sales of bonds
on the New York Stock Exchange
Last weeks record was $35,341, 900,
as compared with s26,3s3,000 for the
same week in 1915, and s9,31s,500 for
the corresponding week in 1913
Not since 1909 has there been any
thing like the activity in bonds, and
prices. while not at the high level, are
FAR above the average of the year.
The favorlte issues are the Great
Britain and Ireland 5s of 1918 and the
Anglo-French ss of 1929. In the list of
development and general As series "A"
1850. have been quite prominent.
Much of the profit that has been made
in stocks on Wall street Is finding its
way into good bonds. and for more or
less permanent investment
So rapidly has the supply of money
increased. that even the active specuIa-
tive markets demands has not created
sufficient inquiry for funds to enable
bankers to fully employ available as
sets.
Late Reports of Earnings.
The Rock Island for the year ended
June 80, 1916. reports an increase in
operating revenues of s4.sss.o77. Net
creased sS,164,S31.
The Reading system. reporting for
September. all lines, shows a surplus
increase of $529,744.
Southern Railway Company, reporting
for sentember, shows gross revenue of
$6,527.904.38, an increase. as compared
with the same month OF last year, of
$685. or 1889 per cent. Net for
the same month totaled s1915, ,29715,
an increase in the same comparison of
or 1912 per cent
For the three months ending with
the gross earnings were
S18,506.090, an increase, as compared
with the same months of the last year.
of s2.077.215.41. or 1854 per cent. Net
taxes, totaled s5,142. 2.327.29. an increase
over the net of the same months of
last year Of s606, ,6s4s6, or 1898 per
cent.
Condition of the Treasury.
Condition of the United States Treas
ury yesterday:
Net balance in general fund. S153,-
qS7 III