Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-04-25
LOCAL BONDS STRONG
AND IN GOOD DEMAND
Public Utility Shares Were Entirely
Neglected, Though "a Was Bid
for Capital Traction.
Sharp Rise in Federal National BANK
Stock-Typesetters Neglected.
Other Financial Matters.
BY I. A. FLEMING.

II was a decidedly dull day on 'He
Washington Stock Exchange. orders
being few. and some of these II was
impossible to fill because of diher-
erces in views between brokers as TO
values.
As a rule bonds were decldediS
s,ronc though Railway As were trlhe
easier while stocks held reasonably
well. but with no special movement
in anything.
capital Traction IS and "ashlhS to'
Gas IS were steady. with 1ot bid LOT
both issues There were sales at 'his
figure, and a ve-hundred-doliar asn-
inCton Gas :, per cent bond also soiu
at i0I1s.
Potomac Consolidated IS were steady.
with 4 sale of $1,000 face value at
loot.
The only stock transactions reported
were two ten-share lots of Norfolk anu
Washington Steamboat at l'o': ana i.'V
and ten shares of Federal Natlohii
Rank at 40 The latter sale indicated
an advance OF { points IRON the i"s'
previous sale. ,,i .
Capital Traction shares were nonli !,
nally little firmer, ST beng olu an. ny,
the hid price of Mergenthaler SHARES
were advanced "A couple OF points
I.anston was neglected. but the bid
and asked prices remain the same as
for some time past
Seek Alien Tax Repeal.
7, is said that New York bankers
hesitate to appeal to President wilson
in the matter of the ruling by Com
missioner Osborn in the nonresident
alien income tax ruling, but Will seek
TO have some one close in the conn-
dence of the President to present the
matter to him 1t is claimed that Con-
rress never intended that non-resi-
dent aliens Investments should be sub
feet to the income tax, that the COM
missioners ruling will hurt Ameri-
can securities and is in effect a double
tax on foreigners who buy securlties
in the United States. 1t is also SAID
that New York bankers fear to send
delegation. in fear of the theory
that no good can come out OF wall
street"
Bankers generally have protested
the decision in question more on the
retroactive features of the ruling.
which naturally inf1icts losses on those
who are unable to collect back taxes
at the source
Clearing House Meeting.
The clearing house association met
yesterday and debated the proposition
of making an effort to reduce bank
taxation. 1t was decided that the time
was not propitious and the matter was
indefinitely postponed.
Arlington Fire Insurance Co.
The Arlington Fire Insurance Com
pany shareholders are to meet this aft
ernoon and vote on the various PROPOSE
tons submitted by the board of trus-
tees, providing for the reinsurance of
all policies. the economical operation
of the Office until such reinsurance has
been placed, and on the expiration or
cancellation of the last policy. that the
shareholders be called together to de-
termine whether liquidation of the cor
poration shall be undertaken.
There are a number of shareholders
who believe that the sale of the busi-
ness and stock of the corporation might
be the wisest thing. but others believe
that the corporation may. in the end.
be liquidated at considerably better
than the bid price, $3.50 share.
Condition of the Treasury.
The condition of the United States
Treasury yesterday was:
Net balance in general fund, S125,-
1866
Total receipts. sl.S01.9.s.
Total payments. SI.531 .493.
The deficit this fiscal year is $54.02..-
ass. against a deficit of S100, S92,61 last
year. exclusive of Panama canal and
public debt transactions.