Evening star., 1916-10-10
PRESSURE ON LANSTON
/. BRINGS LOWER PRICES
Liquidation of Block of Stock From
771a to ~, With Slight Re-
y covery at Close.
Capital Traction Shares Firm-More
Directors Make Selection-South-
ern Railway Annual.
BY I, A. FLEMING.

Lanston Monotype stock was the active
leader at today's session of the local
stock market. In all 100 shares were
traded in. indicating the unloading Of a
considerable block of stock. on a declin-
ing scale from 77!a at the opening to II.
the low, with slight recovery to 771s,
the final bid price.
Mergenthaler. the ether typesetter, was
frmer. selling at 1s1k to 162.
Capital Traction made a new high on
the present movement, when the shares
sold at S2S, with a later transaction at
S2A. Railway preferred was steady at 81.
Bonds were rather slow, the demand
being less urgent, but values were very
steady, sales made being at 101A for Po-
tomac consolidated SIS, 106 for Washing
ton Gas 5s and 1912 for small bond of
the Graphophone Company, bearing per
cent interest.
Southern Railway Annual Meeting.
The annual meeting of the Southern
Railway Company was held in Rich
mond this afternoon.
President Fairfax Harrison submitted
the twenty-second annual report. show
ing that the entire revenues for the fis-
cal year ended June 80 amounted to
s69,9S7. .6T5.24. or only slightly below the
aggregate of the returns for the year
ended June 80. 1914. which still marks
the high record for the annual year.
On the other side of the account
said Mr.. Harrison. in the course of his
remarks, there are reflected the lessons
of experience during the period of de-
that, in the aggregate. they were less
than for the preceding year. to the
great advantage Of income over all
charges. which grew to ss,e4s. 703.Ss. or
$2,215, 1889 more than in 1919. the last
previous record in that respect
With this gratifying achievement it
must be noted that the net operating
income. s21.oo4.eO5.o9. which is the
the year, is the equivalent of the re-
turn of only 5.31 per cent on the in
Vestment in railway and equipment
(s3e5,722.7S5) which produced it. 1t
might be said that there is no industry.
except a railroad. in which so large a
capital is risked for such a return, in
its most successful year"
Mr.. Harrison devoted considerable
time to discussion of the future and to
the growth of cotton consumption in the
south and made the statement that fully
rs per cent of the cotton spindles in
the south are on the lines Of the South
tions.'
More Directors Selections.
Colin H. Livingston. first vice presi-
dent of the American National Bank,
has rendered his resignation as a di-
rector of the Munsey Trust Company.
j. H. Crawford has resigned his posi-
tion as a director on the American Ma
tional Bank and will remain on the
board of the Union Trust Company.
Thomas Summerfield and George E.
Walker have been given permission to
remain on the boards of the Park Saw
ings and the American National Bank.
Will Be Violation of Law.
The section of the Clayton law relat-
ing to dual directorships will become
effective Monday morning. October 16.
Under its provisions the holding of
dual directorships. offices or employ
ment in two or more banks without
the permission of the federal reserve
board will be a violation Of the law.
Personal Mention.
William T. Galiiher, president of the
American National Bank. has just re-
turned from a two-week visit to Porto
Rico. Mr.. Galliher declares that there
is every evidence of prosperity on the
island; that the people have developed
a much higher state of civilization and
are intensely proud of their American
quasi-citiZenship. The English Ian
guage is the basis of popular educa =
tion through the public schools and is
largely the language of business
Advance in Seats.
A sale of seat on the New York
Stock Exchange was reported this
afternoon at s74.500, an advance of
$4,000 on the last previous transaction:
also the high record for the year 1916
to date.
Condition of the Treasury.
The condition of the United States
Treasury at the close Of business yes
terday was:
Net balance in general fund. sI7l,-
s3s.0ss
Total ordinary receipts. s2020S79
Total ordinary payments. s3,s23,Gs7.
The deficit this fiscal year is s6O.747.
73I, against a deficit of s35979ISO last
year. exclusive of Panama canal and
haf. ~. Srtif